Jerry
Pilot review
We have been utilizing Business finance Suite now for about 2 months. I would say that our initial results in the area of direct funding have been a bit underwhelming, not because of the process with the Funding Suite, but because of the quality of the leads we have been using. Our lead source was providing primarily new start up companies looking for funding and the vast majority did not qualify for funding. We are close to closing our first direct funding deal, which will cover the costs of signing up for the program and all our Pilot Program costs as well, which is good. We continue to learning what fits and what doesn't but again our results are mainly driven by the leads we have been getting. We are now at the point that we need to discuss the process we are using to generate leads and get a better idea of the best practices used by other Suite users to improve our penetration of leads to a completed application and proposal. We have spoken to the folks at Credit Suite to seek to understand the profile of the industries, and companies in those industries, that the Suite has the most success with so that we are targeting our marketing accordingly. As to the Credit Suite product (Business Credit Builder), we haven't been actively presenting this product yet. We are in the process of setting up a Workshop to roll this service out. We have touched on the service at our lending workshop last month and have interested parties contacting us to attend our upcoming workshop. Overall, we are happy with what Credit Suite offers, are building a pipeline of future business to run through the program, and look forward to offering the Business Credit Builder program.