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John Marshall Bank Launches Fourth Fintech Lending Solution Partnership
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RESTON, Va.--(BUSINESS WIRE)--
Committed to offering best-in-class business banking services, John Marshall Bank (JMB) announced it has entered into a definitive agreement with an innovative new Small Business Administration (SBA) 7(a) loan processing platform, LendUX from Reliant Business Valuation. This technology will enable JMB to provide its small business customers greater and easier access to financing. The partnership marks the Bank’s fourth fintech provider and highlights its commitment to advancing emerging financial technologies that ultimately better serve small and medium-sized businesses.
Upon successfully navigating the Paycheck Protection Program (PPP) and processing 1,096 applications over the past year, the Bank sought to leverage that same efficiency into processing SBA 7(a) loans. The recently launched LendUX platform was ultimately selected as the fintech solution. This digital application enables business owners to apply for credit when and where it is most convenient for them, outside of traditional banking hours. Additionally, it streamlines and simplifies the application process for a seamless customer experience.
“Simplifying the process for busy entrepreneurs to secure funding that supports the growth of their business is more essential than ever. These partnerships enable us to provide our customers with leading-edge technologies making financial services more accessible while simultaneously differentiating the customer experience,” said Chris Bergstrom, President, and CEO of John Marshall Bank.
The Bank has further parlayed its use of technology by implementing a suite of other innovative technologies. Prior to the pandemic, JMB invested in Built Technologies, which provides a centralized, online solution for construction loan management. The platform gives the Bank and customers access to a real-time picture of their construction portfolio while simplifying the complex loan administration process. Further operational efficiencies have been gained by partnering with nCinoand Abrigo. Built on the SalesForce platform, nCino contributes to back-end processing efficiency by tracking the full lifecycle of each loan and robust data reporting. Abrigo evaluates the Bank’s credit risk mitigation process through stress testing.
The Bank plans to continue to further evolve its offerings for small and medium-sized businesses and pursue other fintech partnerships that drive operational efficiencies while improving the 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, D.C. with one loan production office in Arlington, Virginia. The Bank is dedicated to providing exceptional value, personalized service, and convenience to local businesses and professionals in the Washington DC Metro area. JMB offers a comprehensive line of sophisticated banking products and services that rival those of the largest banks along with experienced staff to help achieve customers’ 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, Nonprofits and Associations, Professional Services, Property Management Companies, and Title Companies. Learn more at www.johnmarshallbank.com.
at john marshall bank, we specialize in taking away the headache and streamlining the processes so that instead of sweating the details, you can focus on the aspects of management and leadership only you can address. we offer a wide variety of the services and options you need to not only manage the funds you have now, but also to leverage technology to gain greater access to funds when you need them. our business bankers are ready to work closely with you to tailor an array of services, merchant process and loan products to help you take your business to the next level. john marshall bank is based in reston, virginia and has five full-service branches located in reston, alexandria, leesburg, arlington, and rockville. the bank also has a limited service commercial branch located in washington, dc.
