A Friendly Banker is Just a Small Bonus Nowadays

Application

In today's banking systems a friendly banker only makes a loan negotiation more pleasant.

Computers and costly training are some of the key factors changing the lending systems at most banks. This is particularly so for small business loans under $100,000. Loan applications are now subject to credit templates or computerized scoring of data on applications. The loans are usually scrutinized for conformity and credit is granted by a faceless number cruncher is some cubicle in some undisclosed location. Uncle Max suspects these cubicles are storage places for unfriendly bankers who discouraged customers from using the services at a local branch.

One indication your bank has gone high tech is the way the telephone is answered. If your bank's telephone is answered by a machine apparently designed to prevent you from talking to a live person - you have reached the new face of banking. If your call is not returned on the same day, you have reached an unfriendly banker.

All of this is improving the profitability of banks.

There are some pluses for small business loan applicants.

• Your application is not influenced by an individual lender's record of poor performance.
• There are fewer demands for extensive business plans.
• There is less bias against you and your proposal.
• Less time and energy is expended on building a personal reputation with a banker.
• You can get specific answers why a loan was declined allowing you to return with successful revisions.
• Senior officers from the "old school" can be more sympathetic to appeals.

Whoever wanted a banker as a friend anyway?

Stories

Stories from members will add great value to these maxims

Please post your story by emailing it to max@unclemaxsays.com.

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Outcomes

• Clarifies the mysteries of borrowing money from a bank.
• Accurate data relating to the proposal carries heavier weight on an application.
• Inspires you to seek a bank or alternative lender with a template more suitable to your needs.

Related Topics

• Working Capital Need Not Be 100% Cash
• Build Your Profile at Your Bank

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