Edgeware Analytics, Inc., an innovative provider of decision tools for small business lenders, has announced today that Michigan Certified Development Corporation (MCDC) is relying on the ScoreEdge504Â small business loan decision model to improve origination decision accuracy. MCDC, headquartered in Lansing, MI, is the first lender in the Midwest to adopt the model.
ScoreEdge504 is an online, real-time decision tool that provides lenders in the Small Business Administration (SBA) 504 Program greater transparency into the risk of loan approvals. Edgeware Analytics developed the statistical model by analyzing thousands of SBA 504 loans and their subsequent performance. MCDC is deploying the model on all new loan applications.
"As a fast growing lender we are always looking for leading technologies to increase the accuracy of our risk management practices," said Jane Sherzer, President of Michigan Certified Development Corporation. "Edgeware's ScoreEdge504 product was designed specifically for an SBA 504 lender like us. We are impressed by the performance demonstrated by ScoreEdge504 and anticipate it playing an important role in all approval decisions."
"We are very excited that Michigan Certified Development Corporation, the first Premier SBA lender in Michigan, has selected our ScoreEdge504 product to aid in more accurate approval decisions," said Mike Rozman, President of Edgeware Analytics, Inc. "We at Edgeware are proud to be a service partner of MCDC, a proven leader in economic development lending in the region. MCDC has deployed ScoreEdge504 using our ZeroInfrastructure(TM) access option for the most rapid integration into the current lending process."
About Edgeware Analytics, Inc.
Edgeware Analytics, Inc., an innovative provider of customized and generic decision tools to lenders, combines expertise in statistical modeling and credit evaluation to create profit-enhancing predictive models. Used by national lenders, certified development companies and community banks; Edgeware's ScoreEdgeÂ, ScoreEdge504Â, and OscoreÂ products work in conjunction with a lender's established underwriting procedures to measurably improve the accuracy of small business lending decisions. Additional information can be found at: www.EdgewareAnalytics.com.
About Michigan Certified Development Corporation
Michigan Certified Development Corporation is a non-profit corporation certified by the U.S. Small Business Administration (SBA) to offer SBA 504 financing throughout Michigan. As a selected participant in the SBA Premier Certified Lender Program (PCLP), MCDC is able to provide improved customer service and more rapid turn around time. PCLP status is an elite designation awarded to less than 10% of the certified development corporations in the country. This allows the MCDC to step into the role of the SBA and approve loan transactions. Additional information can be found at: http://www.michigancdc.org/.