Mark Cottle

[Mark Cottle @markbcottle]

@chris_zorich @BYUtv Beautiful. Thank you for sharing. 🙏

[Mark Cottle @markbcottle]

@BoyNamedKelly I just felt something in South Jordan! Wondered if there was an accident nearby or something.

[Mark Cottle @markbcottle]

@JazzePinkman The ball went to my friend’s kid who has a disability. Such a cool moment!

[Mark Cottle @markbcottle]

@975Hans My son is there too. Hasn’t gotten to do much service yet, but his ax, gloves and steel toed boots are ready! So great watching them grow.

[Mark Cottle @markbcottle]

@josephtrimmer Congratulations! All the best to you on the new adventure. Reach out if you need anything!

[Mark Cottle @markbcottle]

My missionary son said if we needed a halftime speech, Elder Brown just delivered it.

[The Church of Jesus Christ of Latter-day Saints @Ch_JesusChrist]

“Agency is more than the ability to choose—it is the responsibility to choose well.” — Elder Kevin G. Brown #GeneralConference

[Mark Cottle @markbcottle]

@BotanicalGalaxy Congratulations! What a great weekend for a fresh start.

[Brigham's Burner @FiredUpCoug]

Four GoFundMe drives supporting those affected by the shooting at the LDS church in Michigan. Please consider contributing if you can. (Repost, one link was bad)

https://t.co/SslzAqJWKR
https://t.co/2lMd6whtm9
https://t.co/nR8dpXRYS5
https://t.co/FQWUvEaeSM

[Mark Cottle @markbcottle]

@hankrsmith We dropped our oldest son last week. It was BRUTAL. It’s getting better!

[Mark Cottle @markbcottle]

@SLCScanner Feeling them in south Jordan! Very loud

[Mark Cottle @markbcottle]

@jessewardclark @KSLcom Watching from a bit further away in our office. Crazy! Hope they contain it quickly.

[Brock Blake @BrockBlake]

Why banks don’t lend to Main Street SMBs? 🧵…

Underwriting (UW) SMBs is significantly more difficult than UW consumer (mortgage, auto, etc). In consumer, you can decision off 1 ubiquitous data sources: personal FICO & personal income. Both data sources are easily accessible.

In SMB, there are many UW challenges that increase complexity and cost: •personal credit is insufficient (the founder’s credit score doesn’t reflect the health of the business)
•business credit is insufficient
•tax returns are usually 6-12 month out of date
•financial statements can often be manipulated
•even pulling data straight from the bank account is challenging without tech that can auto-categorize the transactions and put them into a Profit-&-Loss statement (which transactions are revenue, expenses, or maybe balance sheet items?)

To top it off, banks aren’t the most tech-savvy, so they have been left to UW SMB manually through human talent. If you are going to involve humans to gather all the materials, spread the financials, and complete the due diligence, the cost continues to increase such that any loan smaller than $0.5m-$1.0m will be unprofitable. As a result, banks chose to move upstream to larger and larger loan sizes and neglected the smaller Main Street SMBs.

Fintechs have figured out how to use tech to UW from a combo of cash-flow data (bank statements), credit data, and high(er) rates to cover losses. Smaller banks care about their reputation in the community which almost forces them to lend local — maybe even at a loss.

Post-Covid, banks are (finally) starting to embrace technology which will allow them leverage similar UW practices as the Fintechs (cash flow data + personal credit + business credit) and are realizing there’s strong revenue and profit opportunities by doing so. Their cost of capital is much lower than Fintechs and they can win back a decent percentage of the market.

Now, there is great tech in the market (think OCR + AI) that will allow a bank to complete financial spreading as well. The combo of cash flow data, personal credit, business credit, OCR of tax returns, and automated spreading of financials will bring the banks back to lending in SMB (even loans smaller than $0.5m)… and doing so profitably.

https://t.co/jwSomY90aQ

[Mark Cottle @markbcottle]

@jackson_blake4 @Coach_Beck7 @UNMLoboFB @CoachBroncoM Goooo Jackson! Stoked for you!

[Brock Blake @BrockBlake]

Stoked about our new TV commercial that went live this weekend! Grateful to be working with @Mastercard in an effort to help Main Street #SmallBusinesses get access to capital!

[Mark Cottle @markbcottle]

@LukeGirgis @FitbodApp

[Mark Cottle @markbcottle]

@kurt13warner Loved the movie and already bought it. Congrats!

[Mark Cottle @markbcottle]

Just posted a photo @ Texas https://t.co/EoOw8WiWzw

[Lendio @Lendio]

🎉 🎉 🎉Humbled. We made it on the list of 50 fastest-growing companies in Utah! Thank you @UtahBusiness

[Mark Cottle @markbcottle]

@stevecook Dude, congrats!

[Mark Cottle @markbcottle]

@matthewhaller @ConsumerBankers @cajunbanker @marcorubio @SenatorCardin @SenatorCollins @ChrisCoons Great stuff! I run @Lendio Franchising. Lendio is the largest marketplace for small business loans and our franchisees are great local resources. I’d love to contribute on this project!