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Biz Lending & Insurance Center, Inc. (BLIC) creating large results!
Organized in 2004 for the purpose of assisting Credit Unions with processing and originating quality commercial real estate & business loans. Our goal is to make the origination process for commercial real estate and business loans smooth and easy for the Credit Union, underwriter, investor and business owner.
To achieve this goal BLIC has formed alliances with Credit Union Service Organization (CUSO), Bankers Banks and third party outsource firms and Credit Unions throughout the United States. The BLIC team presents loan packages to our alliance partners that meet their policy, procedures and guidelines.
When BLIC receives an opportunity that appears to be within the guidelines and product profile as defined by our partners, we immediately undertake an initial screening of the broker or vendor that presented the package to ensure that they are reputable. We work directly with borrower or sponsor that presented the loan to gather all the required documentation and information required so our Credit Union partners can effectively underwrite the loan opportunity. When all the documentation and information is in place, BLIC will grant our partner(s) access to our secure “drop box” site to transfer the files to their underwriting team.
Ultimately, each Credit Union makes the decision to move forward and fund the loan or not.
Our partners will only move forward with opportunities that are well vetted and reviewed. All the Credit Union needs to do is make a decision to move forward or pass on the opportunity.
BLIC will then work with the Credit Union and participating Credit Unions (if needed) to set up closing and funding.
We call this program – RM-Online
RM – ONLINE
With RM-ONLINE (relationship manager online) your Credit Union can empower its Business Relationship Manager(s) (RM) to do what they do best; close business and commercial real estate loans. Most small to midsized Credit Unions these days have limited staff and maybe employ only one or a couple of RM’s that do the jobs of many including but not limited to prospecting, selling, obtaining new applicants, collecting documentation, spreading numbers, preparing write ups for the credit committee, communicating with the applicants, working with the underwriting department, reviewing appraisals, arranging closings, opening up new accounts, site inspections, annual reviews, collections etc. etc. etc.
What if the Relationship Manager(s) could be relieved from many of these support functions? They will be able to enhance their relationship with more business owners and free their time to generate additional loan and new account opportunities.
This is what Biz Lending Center’s RM-ONLINE program accomplishes. Here’s how.
- Document Collection Preparation – Take the leg work and follow up away from the RM. The BLIC team will immediately work with the prospect to collect all the required and necessary documents to effectively underwrite that Commercial Real Estate Loan, Business Line of Credit, Equipment or any other type of commercial term loan.
- We place the documents in a secure FTP site for the all parties to use. Then BLIC prepares a preliminary pre-screening of the loan that includes …
- Loan Name
- Borrowing Entity Structure
- Property Type and Location
- Loan Amount Request
- Rate & Term
- Purchase Price/Refinance amount
- Net Worth of Guarantors
- Liquidity of Guarantors
- Background of Property and Owners
- Location and Comps
- Opinion if the request meets Credit Unions guidelines
- BLIC forwards this write up to the RM or underwriting team for review with the credit committee to obtain approval to move the project forward into underwriting. At this point, most or all of the information the underwriters will need are in BLIC’s secure site. This process will save the RM and underwriters many hours and free up their time for closable loans.
- BLIC will work with the underwriters to collect any additional information required and help the RM prepare for closing.
RM-Online is the only program we know of that offers these services without spending huge amounts or staffing internally.
- Formed in May 2004
- Officially Incorporated in the State of Florida on 2/4/2005
- Privately help by Essential Meeting Services, Inc., a 30 year old Florida Corporation
- Office in Boca Raton, Florida
- Owner of EqLease – Equipment leasing division
- Developed an on-line business loan origination system for 26 credit unions
- Introduced “One Workstation” loan communication system
- Provided a national small business loan program franchise owners
- Loan programs for the medical imaging field through BLIC relationship with Medical Imaging Dynamics (MID). MID is a nationwide consultant to the largest hospital buying services in the country. BLIC and MID craft equipment loan/lease programs for the hospital, imaging center, doctors office or other medical facilities
- Referral loan programs for Credit Unions that do not want to portfolio business loans but want to offer business lending services for their members
- Introduced RM-Online – (relationship manager online) Help’s empower the Credit Unions business relationship manager(s) to do what they do best; close business and commercial real estate loans.
- The Breakfast Club – A BLIC system that finds the movers and shakers in the Commercial Real Estate arena in a Credit Union’s geographical area.
- Changed name to Biz Lending & Insurance Center, Inc.