Oriental bank offers online commercial credit application
SAN JUAN – Puerto Rico-based Oriental Bank announced Monday that it has launched a new service offering, the ability to apply for commercial credit online, becoming the first banking institution on the island to offer it. The service is available on its website, where customers can request credit, monitor the ensuing process and receive communications about its status.
“At Oriental, we continue investing in technology to offer our customers the convenience and accessibility they need. Now, from your computer or cellphone you can request any type of commercial credit such as short- and long-term business loans, loans with an SBA [Small Business Administration] guarantee, loans to acquire property, lines of credit and credit cards.
“By digitizing this commercial credit process for clients and the bank, we hope to reduce the application time,” Fernando Herrera, the bank’s vice president and director of Credit for Individuals and Small and Midsize Businesses, said in the announcing press release.
When requesting credit, customers are presented the requirements, after which they complete a questionnaire, which then recommends the best credit alternative “that suits their needs.” Customers may continue by uploading required documents.
Herrera said the digital platform will continue to be optimized, allowing for a renewal option for current customers. “We have many existing clients who are growing their businesses and we want to support them, that is why we will continue working to simplify the processes, providing an easy and convenient service so they can invest their time in their business,” he added.