Login | Contact Us | Site Map | Archives | Photos | e-Appeal | Mobile | Place Ad | Your Subscription | Subscribe
Now

Memphis Commercial
Appeal

Local

News

Sports

Business

Entertainment

Lifestyle

Opinion

Videos

Obituaries

Jobs

Cars

Homes

Classifieds

Greater Memphis

DeSoto

Germantown
/ Collierville

Bartlett /
Cordova

Millington
/ Tipton

MyLife

Memphis
Memories

Upload photos and
videos

Breaking News

Nation

World

Mid-South

Politics

Education

Faith and
Values

Projects

Topics

Data

Photo Archive

Photo Galleries

Weather

Tigers

Grizzlies

College

Redbirds

NFL

NBA

Baseball

Preps

Auto
Racing

Golf

Outdoors

Other

Columnists

Scores/Odds

Pick
'em

Business
News

Finance

Real
Estate

Commercial
Real Estate

Technology

Automotive

Property
Transfers

Columnists

Dining

Music

Movies

Arts

Casinos

TV and
Video

Books

Columnists

Health
& Fitness

Food

Travel

Style

Home &
Garden

Profiles

Family

Relationships

Celebrations

Columnists

Crossword

Sudoku

Games

Comics

Editorials

Analysis

Letters to the
Editor

Polls

Columnists

National &
World Commentary

Blogs

Forums

Latest

Business

Entertainment

Lifestyle

Local

News

Sports

Business News

search

site web

Web
Search
powered
by YAHOO!
SEARCH

Home › Business › Business
News

A A A

Eye on loans: Online program tracks entire lending process

By David Flaum ,
Memphis Commercial Appeal
Saturday, April 18, 2009

With the feds pushing banks to make loans to get the stalled economy running,
John Jackson sees an opening for his fledgling company, LendingCycle.

The company's online system allows bankers to track the loan process from the
first approach by a customer to closing and beyond.

Kyle Kurlick/The
Commercial Appeal

Dawn Everett of Landmark Community Bank is an enthusiastic
convert to the online loan-tracking program LendingCycle. John Jackson (right)
is the company's president and CEO, and Bruce Schratz leads the Memphis
operation.

STORY TOOLS

E-mail
story

Comments
(3)

Printer
friendly

More Business News

MySpace
hopes to turn free songs into needed cash

First
Horizon loses $82.8M in first quarter; bad-loan reserve increased

Green
transportation for people, goods will be seminar topic

Share and Enjoy [?]

"It's applicable whether you're a growing bank, normal or in trouble," said
Jackson, president and CEO of the company. The former bank lending executive
vice president started the firm in Louisville after five years of
development.

If banks buy the service -- the cost averages $800 to $900 a month -- they
get access to a secure data center and set up a tracking system starting with
loan inquiries and referral, tracking each one through the approval process.

Lenders get lists of the loans they are working on, the status of each,
alerts and other information.

"The senior lender can get information in seconds that takes two or three
days without it," Jackson said.

Overall, the system improves the efficiency, oversight and information
available on the lending process, he said.

"At a time when liquidity (cash), profit margins are issues and the gap
between loan and deposit rates has gotten tighter, this is valuable," Jackson
said.

Dawn Everett was skeptical of how it would work when the senior vice
president and compliance officer at Landmark Community Bank in
Collierville was put in charge of the system.

She didn't think the bank needed the product.

"We have several programs that I was under the impression did what
LendingCycle did," Everett said.

She discovered the LendingCycle program offered more than the bank had.

One was streamlining "the laborious process of getting lenders to get us
their (loan) pipelines, which is always a nightmare," Everett said.

Landmark began using the program in January, getting lenders on board and
replacing its old systems. Bankers can track borrowers' tax returns and loan
documents, report how long customers wait for action, post appraisals and list
types of loans, Everett said.

"It's a great tool for all sides of the bank," she said. "When banks start
using it, they will wonder how they did without it."

To boost sales, Jackson added an operation in Memphis by attracting Bruce
Schratz, a former banker he met with a company Jackson worked for several years
ago that acquired Schratz's Payment Transaction Solutions.

"He's someone who understands the business and technology, knew the market
and could help us grow," Jackson said of Schratz, who handles sales and company
operations.

"I had to learn lending speak first," Schratz said.

When he did, he started calling on banks and, from his early experience,
expects 50 to 65 percent of the bankers who look at the system to buy it.

"You can do more with fewer resources," Schratz said.

"Oversight is tight, the feds are coming in, examinations are tough, and this
gets you the jump start on compliance," he said.

LendingCycle

Headquarters: Louisville, Ky.

Top officer: John Jackson, president and CEO

Started: January 2008

Business: Provides an online system for tracking loan
prospects and related information

Employees: Two, including Bruce Schratz in Memphis
office

Phone: 359-8472 in Memphis; (502) 523-4746 in Louisville

Online: LendingCycle.com

Comments

There are 3 responses to this article.

Comments are meant to offer our readers a forum for thoughtful, robust debate
about local issues.

Comments are moderated, but you may find the content of the conversations
offensive, objectionable or factually disputable.

Comment List

The Commercial Appeal does not
necessarily condone the comments here, nor does it review every post or respond
to every suggestion for a comment to be removed.

Before you post, consider this:

Keep it clean. Comments containing obscene, profane,
vulgar, lewd or sexually-oriented language -- including creative spelling and
typographical representations of foul language -- will be removed.

Be truthful. Don't lie or spread rumors about anyone or
anything. Stick to discussing what is factually known.

Be nice. Don't threaten anyone, and do not post any
comments that involve racism, sexism or any other -ism that degrades another
person. Hateful or offensive comments will not be tolerated.

Police yourselves. Hit the "Suggest Removal" button to
alert us to objectionable comments. Do not respond to trolls or those who seek
to harass another poster.

Please read our official Terms of Use.

Posted by rcky_mtn_nus on April 18, 2009
at 4:13 p.m.

Reply
to this post | Suggest
removal

No money? No credit? No assets for collateral? No jobs for eight generations?
NO PROBLEM!

We can help! Sign right here...

Lemme help!

http://www.youtube.com/watch?v=dki700Xjh3k

Posted by rcky_mtn_nus on April 18, 2009
at 4:14 p.m.

Reply
to this post | Suggest
removal

in response to rcky_mtn_nus

Apologies to COGIC. I forgot the tip verse...

http://www.youtube.com/watch?v=dki700Xjh3k

Posted by rcky_mtn_nus on April 18, 2009
at 4:18 p.m.

Reply
to this post | Suggest
removal

Ad resembling story appears on front of LA Times

http://www.breitbart.com/article.php?id=D97F3F1G0&show_article=1

Who would do that??!

Post your comment
(Requires
free registration.)

Username:

Password:
(Forgotten your
password?)

Your Turn:

Most
Emailed

Most
Commented

Recent
Photos

Latest user submitted photos:

Loner

Outta
Here!

Landing
Strip

Running
With Friends

Flying
Low

Friends

The most e-mailed items:

Lawsuit
targets five Memphis-based Stanford advisers

COGIC's
'saints' go marching out — for bigger digs in St. Louis

Troops
Depart

COGIC
moving annual convocation from Memphis to St. Louis in 2010

Recycling
options available when getting rid of gadgets

Willis
Wilson, Glynn Cyprien hired as Memphis Tiger assistants

Items with the most audience comments:

'Memphis
Tea Party' protest hits Washington spending spree

COGIC's
'saints' go marching out — for bigger digs in St. Louis

CRIME
REPORT: Man charged with helping murder suspect find victim

CRIME
REPORT: Deputies pull $60,000 worth of counterfeit goods off street

Suburban
mayors oppose merger, leery of city-county government

Tennessee
Senate approves guns in restaurants bill

Focus
on Memphis

Upload
your Photos and
Videos

Home › Business › Business
News

Business
News

MySpace
hopes to turn free songs into ...

Eye on
loans: Online program tracks entire ...

First
Horizon loses $82.8M in first quarter; ...

Real
Estate

Builders
to offer a 'taste' of Laurels ...

Tax
breaks approved for Grand Island apartments ...

My
New Home: Mom knew best

Commercial
Real Estate

Fairgrounds
plan shaky; economy may hurt projected tax ...

Canale
Grove developer reduces plans for office, retail ...

Commercial
truck dealer Diamond plans expansion near airport

Dunavant
proceeds with 'signature' Destin project

History
reborn: Grand opening celebrates Lowenstein renovation

Technology

Green
transportation for people, goods will be seminar ...

Salazar:
Sea wind can replace coal

Luminetx
hires new CEO

Conferees
will get to see Memphis' orthopedic clout

Tech
mission: TotalCare founder 'in tune with nonprofits'

Automotive

Antithesis
of Hummer, PUMA rolls on 2 wheels

2010 BMW
Z4

2010
Ford Taurus

2009
Nissan Cube

Incentives
fail to jump-start new car purchases

Columnists

Small
Business Advocate: Guard your capital, whether it's ...

Ways
to Wealth: Adult students may find assistance ...

Small
Business Advocate: Value of assets shifts as ...

Ways
to Wealth Dance, teach or preach your ...

Small
Business Advocate: Owners, bankers must communicate

Scripps Interactive Newspapers Group
© 2009
The E.W. Scripps Co.

Privacy Policy | User
Agreement

Contact Webmaster | Market Data | Advertise | Audit Results | Newspapers in Education