4 Reasons Commercial Lenders Need a CRM

Commercial lenders need a CRM for very big reasons. Here’s more about how they are remaining competitive and relevant while building game-changing relationships.

Why Commercial Lenders Need a CRM

The world of commercial lending is becoming more and more challenging thanks to shifts in regulations and dips in the market itself. That’s why it’s more important than ever for smart lenders to stay on top of both their new leads and existing book of business.


The problem is that many lenders rely on Excel spreadsheets or – even worse – their email to manage customer relationships. This kind of record keeping process turns into a pile of missed opportunities.


That’s where a CRM comes into play. With a CRM in place, leading commercial lenders have the tools to thrive during tough times. Here are four big reasons why commercial lenders need a CRM.

Commercial Lenders Need a CRM: 4 Reasons

1) The basis for game changing relationships.

Before the days of having a PipelineDeals CRM, work life was much different for our commercial lending clients. They’d tell us how they were tired of forgetting critical relationship data. They wanted to have better client conversations and remember details like birthdays, anniversaries, pet names or favorite restaurants. That’s because a smart lender aims to have meaningful exchanges with their customers. That’s why they end up reaching out to us. They understand commercial lenders need a CRM to continue to build trust and consistency.


Tracking important data empowers a commercial lender to ensure intelligent touchpoints with a scaled number of contacts. With the right CRM, commercial lenders can build game changing relationships which equates to more business.

2) All of your conversations in one place.

The average number of contact points during a typical SBA Loan is 15. The mediums range from phone, email, to in person. Each of those contact points yields critical information for both the borrower and the lender.


A CRM becomes the hub for those interactions. This is particularly true when you have a solid mobile application available with your CRM.


Being able to pull up all interactions in one place streamlines the process and eliminates costly mistakes.

3) Fast outreach to clients and prospects.

As rates change, clients that were not ready to pursue a loan may be enticed to re-engage. Top commercial lenders know the importance of getting rate change information and regulatory information in front of their clients fast. CRMs that offer fast campaign generation reaches a relevant set of clients or prospects immediately and personally.

4) Meaningful insights for the SVP and CXO.

Let’s be honest, we all hate reporting. If you don’t, that’s great! No matter how you feel about it, reporting is a necessity in the world of finance. Projections and forecasting are a part of the job. You might as well do it right and with as much insight as possible.


Without a CRM, most forecasting takes place via a spreadsheet. That spreadsheet is generally prepared minutes before the weekly or monthly meeting. All that creates is more admin work for the lender and the feeling of completing a chore versus running a business.


These forecasts are also outdated the moment the meeting ends. It makes you wonder why you took your precious time to put it together. Doesn’t it? A CRM is about real-time reporting.

Commercial Lenders Need a CRM Today

Forward-thinking commercial lenders need a CRM to better serve their clients and build the relationships that are the groundwork to what they do. Real-time interaction data and a single view of a client’s entire relationship footprint mean more personalized conversations.


Do you work in commercial lending? Has a CRM changed your perspective on how you manage your business relationships?

Table of Contents

Share this article

Related Articles