Banks and Lending

Wayne, your comments somewhat paint bankers with a broad brush. As with any industry there are good performers (both institutions and individuals) and the not so good.

Finding a reliable and detail oriented "business banker" with good follow up is not that difficult but may be time consuming until you find the right one. Finding the right bank that does "get" your business also takes a bit of effort but worth it in the long run. Always seek out and only to speak to an individual whose title is Business Banker. Ask around for referrals.

Sometimes local banks are easier to work with and are better at reading between the lines, but in other instances a smaller bank is not equipped with resources that a regional or national brand has to offer.

But the bottom line is this - if your story is attractive, you will not have trouble negotiating a loan. If on the other hand there are a lot of "extenuating circumstances" swirling around (what bankers call "hair on the deal,") then that's when finding the right internal champion to get you loan approved becomes more critical.

The process is; the business banker collects a loan package and sends it to underwriting, underwriting comes back with questions and requests for more documents. A good business banker helps finesse the two parties - the borrower and the underwiters. It's true underwritting a loan has become increasingly difficult.

My advice; if you don't think you are receiving the attention you think you deserve, move on. And keep this in your back pocket - promise to move all your daily banking accounts to a bank that will approve your loan.