ING DIRECT wants to lend to small business
ING DIRECT’s chief executive Don Koch said he’s keen to double the bank’s existing portfolio of commercial loans in the next three years.
ING DIRECT’s Mark Woolnough said the commercial lending in the $250k – $2 million loan bracket is where a lot of opportunity lies.
“Our commercial offering is generally ‘set and forget’ with no annual reviews for loans under $2 million dollars that are performing well. This offers a certainty to customers as we know that when some of our competitors review commercial mortgages, it may result in changes to the loan such as the structure, fees and interest rate.”
Source: The Adviser