Accion Texas-Louisiana Uses SAS Software to Expedite Loan Approvals
A scorecard from SAS helps a large non-profit microloan provider in the US, Accion Texas-Louisiana, speed loans to small business owners who don’t qualify for traditional loans. With SAS Desktop Data Mining for Midsize Business, Accion has also reduced the delinquency rate by 76% and loan restructuring rate by 64%.
SAS helped Accion create a scorecard that halved the number of loan applications requiring underwriter review – the remainder are automatically approved or denied. Also, loan officers can now prepare an application in only 30 minutes compared to four hours, and loan approval times have plunged from two weeks to three days.
“The scorecard gives us the information needed to manage risk, increase our efficiency and provide faster turnaround times for our customers,” said Janie Barrera, Accion Texas-Louisiana president and chief executive officer (CEO).