Why Choose a Promontory Local Credit Loan?
Promontory Local CreditSM can help your institution more fully satisfy the credit requests of its high-value small business borrowers. Promontory Local Credit loans are designed to help community banks provide small businesses with the capital they need today—while providing a pathway to full bank financing as their company grows.
Specialized Co-Lending Focus
Your institution can use Promontory Local Credit loans to supplement its traditional lending activities; for example, the loans may be ideal in situations where a customer has ample cash flow but limited collateral. In many cases, a Promontory Local Credit loan can serve as a bridge to a fully bankable customer over a period of time.
Profit Building for Banks
- Increase earning assets: win more loans in less time by making a complete financing offer
- Grow with customers: refinance the second lien loans as borrower debt capacity increases
- Protect relationships: build loyalty with high-value business and owner accounts
- Collaborative approach: streamlined underwriting process with clear credit criteria
A Compelling Solution for Borrowers
- Affordable financing: all-in blended rate may be significantly less than alternatives
- Nondilutive and noncontrol: no equity requirement or operating interference
- Transitional capital: use as a bridge to full senior bank financing, reducing cost of funds
- Reliable execution: timely responses, direct feedback, and certainty of close