Western Apps Good For Easterners Too

Small business borrowers no longer have to return to a branch to sign closing documents when making a loan at a major east coast bank.

The practice of using a simplified loan application, similar to a consumer credit card application, for small business loans has long been a practice on the west coast, where Wells Fargo & Co. and BankAmerica Corp. have been in competition. They try to make it as easy as possible.

Now Pittsburgh based PNC is using the same methods, thanks to PNC senior vice president for business banking Susan Holt, who brought the idea with her from her former position in California.

Copyright © 1998 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 8, No. 5, 5/98