We see many opportunities in the market for our service and product mix
New York, NY (PRWEB) September 30, 2006
Primagency, the nation's leading business finance agency, today announced a revolutionary approach to the chaotic middle-market business loan marketplace. Adding new customized service+technology capabilities to its already robust agency structure which facilitates more than $5 billion of new loans annually, will overhaul the long-entrenched "mom and pop" brokerage model that has resulted in costly inefficiencies.
Starting with the company's Underwriter Report, all participants in a typical transaction -- borrowers, their advisors, and lenders will engage, for the first time, in a fair and comprehensive loan positioning and funding process. Traditionally, these disconnected constituents operated in a random environment with separate and often conflicting objectives and timeliness.
Now, the Underwriter Report, Primagency's in-depth business finance analysis and presentation, frames a borrowers' financing capacity through the lender's perspective - an industry first. On-staff credit professionals - many who have come to Primagency from the lending due-diligence environment and understand it thoroughly - guide qualified financings from sourcing to closing. Unlike lender matching services that rely solely on sort-and-filter technology, hands-on agents - real people crafting real business credit profiles -- prepare, target and connect borrowers to the lenders most likely to offer their businesses a custom-fit loan solution.
"We see many opportunities in the market for our service and product mix," said Primagency's CEO Steven Lebetkin. "We will partner with, among others, leading Internet marketing companies who serve the consumer mortgage industry. We can help them address the current contraction taking place in that industry, and we can help them expand their brand into the business market - a space we know very well." Lebetkin continued. "We also see tremendous potential in the trusted advisor segment - the middle-market business lawyers and accountants and commercial insurance agents who are asked to pinpoint clients' best financing options. We can lift the financing burden from them and give it to our trained credit experts who manage the proposal, due diligence and funding process, along with everyone's expectations - borrowers, advisors and lenders."
According to the Commercial Finance Association's Annual Asset-Based
Lending and Factoring Survey, the U.S. asset-based lending industry
grew 16% in 2005 -- to a record $420 billion in commercial finance loans. And, lenders are watching that number grow. Primagency's own growth strategy - a 1% market share for this year - will double the size of its business.
Primagency (http://www.primagency.com) is a national finance agency managing the secured debt funding process from pre-underwriting to closing. Since 2002, the company's mission has been to re-engineer the funding process through its' agency perspective, state-of-the-art technologies, and customized solutions designed to benefit both borrowers and lenders. The Primagency group of companies facilitates more than $5 billion in closed business loans per year.
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