In a campaign to offer beneficial commercial lending products, serve the small business market and boost revenue, Great Western Bank, with locations in five midwestern states, found that offering the BusinessManager accounts receivable financing program was a win-win. “Normally, you only see this sort of system in the large money center banks,” says Craig Wilkins, Executive Vice President and Chief Lending Officer. “I consider BusinessManager to be one of the most valuable products we offer.”

According to the bank’s BusinessManager program director, David Ulch, approximately 30 percent of the current BusinessManager customers came specifically for accounts receivable financing. “We’re reaching businesses we wouldn’t normally be able to attract for traditional financing, and many of them are moving more than one account to the bank,” says Ulch, who sees unique cross-sell opportunities as an added value in BusinessManager sales calls. “We’ll learn more about a business during an initial BusinessManager sales call than their current bank will probably ever know about them.” With nearly forty BusinessManager customers, the bank has generated more than $1.5 million in gross revenue from the program. “BusinessManager enables us to increase revenue without adding the jobs or overhead other loan programs require,” says Wilkins. “These numbers make our Board smile.”

Commenting on the bank’s low overall loss ratio, Wilkins cites BusinessManager’s risk mitigation tools for ensuring its soundness and safety. “Regulatory agencies love programs with a high amount of reporting, and BusinessManager is excellent in that regard,” says Wilkins. Looking ahead, the bank plans to continue offering BusinessManager. “Of all of the third-party partners we work with, Goldleaf is one of the most trusted.”

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Great Western Bank
Omaha, NE
Assets: Part of a $2.3 Billion holding company

Quote
"BusinessManager enables us to increase revenue without adding the jobs or overhead other loan programs require. These numbers make our Board smile."