John Marshall Bank Launches Fourth Fintech Lending Solution Partnership
RESTON, Va.–(BUSINESS WIRE)–Committed to providing the best in business banking, John Marshall Bank (JMB) announced that it has entered into a definitive agreement with an innovative new Small Business Administration (SBA) 7(a) loan processing platform, LendUX of Reliant Business Valuation. This technology will allow JMB to offer its small business customers broader and easier access to financing. The partnership marks the Bank’s fourth fintech provider and underscores its commitment to advancing emerging fintech that ultimately better serves small and medium-sized businesses.
After successfully navigating the Paycheck Protection Program (PPP) and processing 1,096 applications over the past year, the Bank has sought to leverage that same efficiency in processing SBA 7 loans ( at). The recently launched LendUX platform was finally chosen as the fintech solution. This digital app allows business owners to apply for credit when and where it’s most convenient for them, outside of traditional banking hours. Plus, it streamlines and simplifies the application process for a seamless customer experience.
“Simplifying the process for busy entrepreneurs to obtain financing that supports their business growth is more essential than ever. These partnerships allow us to provide our customers with advanced technologies that make financial services more accessible while differentiating the customer experience,” said Chris Bergstrom, President and CEO of John Marshall Bank.
The Bank has further strengthened its use of technology by implementing a suite of other innovative technologies. Before the pandemic, JMB invested in Integrated technologies, which provides a centralized online solution for managing construction loans. The platform gives the Bank and clients access to a real-time picture of their construction portfolio while simplifying the complex loan administration process. Further operational efficiencies have been achieved by partnering with nCino and Shelter. Built on the SalesForce platform, nCino helps back-end processing efficiency by tracking the full lifecycle of each loan and creating reliable data reports. Abrigo assesses the Bank’s credit risk mitigation process through stress testing.
The Bank plans to continue to evolve its offerings for small and medium-sized businesses and pursue other fintech partnerships that drive operational efficiency while improving customer experience.
About John Marshall Bank:
John Marshall Bank (“JMB” or the “Bank”, OTCQB: JSMB) is one of the largest community banks headquartered in the DC metro area with eight full-service branches located in Alexandria, Arlington, Loudoun , Prince William, Reston and Tysons, Virginia, as well as Rockville, Maryland and Washington, DC with a loan production office in Arlington, Virginia. The Bank is committed to providing exceptional value, personalized service and convenience to local businesses and professionals in the Washington DC metro area. JMB offers a comprehensive range of sophisticated banking products and services that rival those of the largest banks as well as an experienced staff to help achieve clients’ financial goals. Dedicated relationship managers serve as direct points of contact, providing subject matter expertise in a variety of niche industries including charter and private schools, government contractors, health services, non-profits and associations, professional services, property management companies and title companies. Learn more about www.johnmarshallbank.com.