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Lenders Cooperative announced that South Shore Bank has selected its software to strengthen and scale the bank’s small business lending operations.

“At South Shore Bank, we’re focused on delivering high-quality, responsive lending services that fuel economic growth across our communities,” Business Banking Team Leader at South Shore Bank Michael Minicucci said in a statement. “The unique combination of lending technology and underwriting talent that Lenders Cooperative brings to market has helped us operate more efficiently and better serve the needs of our commercial clients.”

The tech firm based in Arlington, Virginia, provides a loan origination and servicing platform that provides end-to-end automation from loan application through servicing, with what it calls “built-in configurability” and workflow management. Weymouth-based South Shore Bank said it aims to leverage the software to automate and standardize back-office collaboration across the loan lifecycle.

The bank also said it will use Lenders Cooperative’s product to originate and manage small business loans while augmenting its internal credit capacity with Lenders Cooperative’s own underwriting and closing professionals.

South Shore Bank will leverage the platform to offer small business C&I portfolio products, including small business term loans, working capital loans, and SBA loans.

The bank has approximately $2.3 billion in assets and shares a mutual holding company with Dedham Savings.

South Shore Bank Adds New Loan Technology Provider

by Sam Lattof time to read: 1 min
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