L to R: Barry Kromann, Cosby Hodges , Mayor Betsy Price, Ben Gatzke, Mark Selking, Lance Cunningham, Graham Streett
BorrowWorks, a rapidly growing Fort Worth-based company, is helping banks and other lenders work smarter and more successfully in the highly regulated non-prime market.
In that massive market, many potential borrowers are responsible consumers stuck with credit issues because of unforeseen difficulties such as medical bills or family problems. As recently as 2015, according to analytics experts at Fair, Isaac and the Corporation for Enterprise Development, there were more than 150 million non-prime consumers in the United States.
Founded in 2011 and led by CEO Benjamin Gatzke, who holds an MBA from Baylor University, BorrowWorks is on a substantial growth trajectory with performance and operations excellence that has earned them the Fort Worth Chamber of Commerce 2018 Small Business of the Year (SBOY) Award in the 51-150 Employees category.
“At our core, BorrowWorks is a technology company,” Gatzke said. “We made Fort Worth our headquarters to access the highly skilled pool of talent the city has to offer. This award validates that move and the investment we made in our people and infrastructure and is a reflection of the incredible opportunity that Fort Worth provides.”
BorrowWorks applies “decision science,” bringing together technology, data sources and innovative thinking to create highly measured guidance that helps lenders to qualify borrowers for personal credit.
The company’s customer service strategies revolve around transparency and pride of ownership.
“We communicate with candor and clarity,” Gatzke wrote in BorrowWorks’ SBOY application. “We take care of our assets and take responsibility for our actions.”
Core values range from “Get Things Done” and “Take Chances” to embracing management consultant Peter Drucker’s mantra of “What gets measured gets improved.” Hiring follows a “no jerks” path. Employee training includes utilization of the online training tool BAI for regulatory and compliance education of all employees.
BorrowWorks’ Charitable Contribution Matching program supports a range of local non-profit organizations, including the YMCA, Jewel Charity, Boy Scouts, Rotary and the Union Gospel Mission.