Picture this: a member comes into your office and says he wants a million-dollar loan and he has collateral.
What kind of collateral?
The head of a tyrannosaurus rex, a huge dinosaur and, yes, there is a market for t rex bones
What do you do?
The temptation is to say get the hell outta here.
But just maybe the smarter, very 21 century solution is to call UPTIQ where the mantra is THE LENDING PLATFORM FOR HOLISTIC ADVISORS.
On its website, there’s this elaboration: “Whether its money to buy a new home, start a new business or fund working capital, UPTIQ’s turnkey technology enables financial advisors to connect their clients to a network of lenders who can fund any liquidity objective.”
Yes, UPTIQ also will handle mainstream lending and borrowing needs.
But it does not shy away from the exotic, said Taylor Adkins, chief product and marketing officer.
To simplify what UPTIQ has done is stick together software that helps match up financial advisors who have clients with borrowing needs with lenders who have cash on hand to lend. If it’s an exotic loan, fine. If it’s a more conventional loan, that may be fine too.
There definitely is a place for credit unions in this equation, said Adkins. What, you don’t have any financial advisors on staff anymore? That may not matter with UPTIQ – in the show Adkins explains.
Definitely, credit unions have tightened up lending practices but just about every credit union wants to make loans – and a talk with UPTIQ very well might help get some additional loans funded.
