BHG Bank Network Sets New Sales Record in Q1 2023
DAVIE, Fla., April 25, 2023 /PRNewswire/ -- BHG Financial (BHG) is the leader in unsecured business and personal loans, as well as the creator of one of the country's largest community bank loan and product networks—the BHG Bank Network. For 22 years, the company has been committed to supporting the community banking industry and providing small and medium-sized businesses with access to the capital they need to grow and succeed.
Today, the company announces a significant milestone in its relationship with community banks. In the first quarter of 2023, BHG Financial recorded $920 million in total sales to its Bank Network— the highest quarterly total in its history.
BHG has established itself as a reliable loan source for community banks across the United States since 2001. It is building on its record-breaking 2022 success of banks on its network purchasing a record $2.6 billion in loans. Overall, more than 1,550 banks have purchased BHG loans, earning over $1 billion in interest income combined since the company's inception.
"I am so proud of what the bank network has accomplished," says Al Crawford, Co-founder, Chairman, and CEO. "Considering everything that has been at stake in this environment, it's gratifying that our large network of banks trust and lean into BHG solutions. Our relationships remain strong and resilient."
This new milestone significantly raises the bar in many ways. It validates the strategies BHG developed and started implementing in Q4 2022 based on macroeconomic analyses for 2023.
BHG's analytics and credit underwriting teams adjusted credit models to account for changes in consumer behavior, enabling the company to offer its Bank Network members strong-performing loans with the highest level of credit quality in its history. The new sales record shows how much interest and demand the banks have for BHG Financial products and services.
"This achievement spotlights BHG as a trusted source banks rely on to supplement their in-house originations," says Meghan Crawford-Hamlin, President of Institutional Relationships.
As the BHG Bank Network has evolved, so have the offerings to its members. BHG offerings include multiple fees and interest income opportunities, digital lending, risk management services, regulatory guidance, and more—with additional offerings on the horizon. BHG introduces these new products and services at its quarterly seminars, bringing together hundreds of banks for a chance to learn more about its latest innovations.
To learn how to become a BHG Bank Network member, please visit BHGLoanHub.com.
About BHG Financial
BHG Financial is transforming the financial industry, leveraging the power of data, analytics, and cutting-edge technology to become one of the best sources for high-performing loans, and the creator of one of the largest community bank loan and product networks in the country.
Since 2001, BHG has originated more than $15 billion in loan solutions to top-quality borrowers, which community and midsize banks can access via a state-of-the-art loan delivery platform.
BHG Financials' dedication to providing services that meet the needs of its clients has led to the creation of a full family of brands that range from business, consumer, and SBA 7(a) loans to credit cards, risk management services, and point-of-sale financing.
With record growth year after year, BHG continues to be recognized regionally and nationally, earning a spot on the Inc. 5000 list 16 times and receiving accolades from Great Place to Work® and Fortune magazine, among others.
BHG Financial is partially owned by Pinnacle Bank (PNFP) and has headquarters in Davie, FL and Syracuse, NY. To represent the company's growth and dedication to continuously expanding their services, Bankers Healthcare Group became BHG Financial in 2021.
Find out more about the company's financial solutions at https://bhgfinancial.com/. For more information about the BHG Bank Network, click here. Follow BHG on LinkedIn, Facebook, Instagram, and Twitter.
Media Contact:
Jasmine Heard
SOURCE BHG Financial
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