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Working Solutions’ Lending Automation Using MMS

Discover how Working Solutions utilized CAMEO's Microloan Management System (MMS) to maintain loan quality while increasing lending volume. Learn how technology helps streamline loan processing, improve staff efficiency, and achieve a 96% repayment rate.

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Working Solutions’ Lending Automation Using MMS

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  1. Working Solutions’ Lending Automation Using MMS CAMEO’s 2017 Microlending Forum Feb 1, 2017 Emily Gasner, CEO

  2. The Question: Do we have to sacrifice quality (and mission) for volume? The Answer: No – not if we utilize technology well

  3. About Working Solutions • CDFI serving 9 San Francisco Bay Area counties • Provide $5,000-$50,000 loans and consulting servicesfor the life of the loan, to early stage small businesses • Majority of our portfolio is early stage business <5 years in existence

  4. Growth Sets In • Organization has grown from 1 to 16 staff • Majority of growth has occurred over the past three years… • Since 2005: $11.7 million lent; 467 loans; 96% repayment rate

  5. New Solution - Tech • Challenge-getting above 50 loans funded/year • Did not want to forgo quality for volume • Approached by CAMEO for a pilot project in partnership with LIFT Fund (formerly Accion Texas) for their Microloan Management System (MMS) solution.

  6. About MMS and Pilot • MMS = web based, underwriting outsourced solution • Pilot project began in August 2013 • CAMEO was the lead, and organization under their umbrella had access to limited usage of MMS + support from CAMEO staff • 2016 “graduated” from pilot

  7. Pilot allowed us to: • Sort Applications Quickly • MMS’ auto review provide a rating allowing Lending Team to quickly triage deals

  8. Pilot allowed us to: • 2. Support for more borrowers • Lending team was able to focus our time on deals that needed our attention, while keeping up with volume

  9. Pilot allowed us to: • 3. Improve use of staff time: • Deploy staff to focus on greater due diligence and pre-loan technical assistance

  10. Changes = New Rules • Previously: • Only ONE approval channel = • Loan Committees

  11. Changes = New Rules • Currently: • Multiple approval channels = • 1) MMS 2) Loan Committees 3) Staff Committee

  12. Best of Both Worlds • Hybrid usage of MMS & Loan Committee • = growth and quality • MMS handles slam-dunk deals • Staff and stakeholders still provide holistic review of applicants

  13. Quality AND Volume • 2013 2014 2015 2016 Q12017 • $1.3M $1.7M $2.2M $2.4M $1M • 50 85 94 84 30 • Maintaining 96% repayment rate

  14. THANK YOU! Emily Gasner emily@workingsolutions.org 415-477-8415

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