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#2178507 - 05/17/18 02:17 PM commercial lender - cold calls, emails
Burgess Offline
Diamond Poster
Joined: Jan 2004
Posts: 1,621
we have a new commercial lender going into a branch. she plans on doing a lot of cold calls and emails.
since he is only calling/emailing commercial prospects - not for sure what I need to tell her to do and not to do
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#2178522 - 05/17/18 02:57 PM Re: commercial lender - cold calls, emails Burgess
Christy Goza Offline
100 Club
Joined: Jun 2010
Posts: 118
Cleveland, TN
It's important for any new lender to know the history of your bank and your bank's lending philosophy and policy. It is always good to pair a new lender up with a seasoned lender and make calls together at first, even visiting current clients together just to introduce the new lender. At least, that has been my experience. You don't want the new lender calling on a potential client that you may have turned down for a loan last month, or that you may have a charge-off on from previous years. I would encourage you to get the new lender involved in local clubs/organizations such as Rotary, Knights of Columbus, Habitat, Lions Club, etc. Cold calls are hard and I find rarely work out. Meeting potential clients through clubs or chamber events has a much better outcome at establishing relationships.

If she is making cold call/emails, I might would give her some sample emails to go by. Don't assume because they are a lender that they have good grammar or writing skills.

Also, make certain the new lender is very familiar with the loan application process.
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#2178542 - 05/17/18 03:48 PM Re: commercial lender - cold calls, emails Burgess
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,180
Toano, VA
As a matter of general management, I'd like to see a specific business plan with clear objectives and a means of measuring success. Cold calls and blast email campaigns are notoriously poor ways to develop new business that is both desirable and profitable. Maybe this lender can beat the odds, but monthly or quarterly performance reviews aren't too much to ask in return for the next paycheck.
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