Ok, Branch Manager and Small Business Banking team. I have some questions for you, and I’d truly love to hear about your personal experiences.
You see the needs of the businesses in your community. You know the local landscapers, the area vet, all the pizzeria owners; the roofers, and plumbers, and main street landlords. You see the needs of your community, you know the bank wants to lend, gives you business lending goals, even incents to you lend! I know you want to help.
But do you ever feel like there exists some internal secret bank door behind which all the secrets of business lending stay locked and hidden? How many times have you had to tell a client they are not approved for a business line of credit or loan for some vague, generic reason? For you (and them!) it’s not just an underwriting decision: It’s local, and it’s personal.
I’ve walked in your shoes. I’ve held more conversations than I care to remember informing business owners they were not approved. It’s much easier to decline someone you’ve never met, never seen, never even spoken with. For bankers on the front lines working with people – and that’s what small business owners are – just people – it’s a different world.
You have a hard job. These are hard conversations. I know you want to see your community thrive, your local business owners succeed and grow and hire more people. So let’s start a new conversation.
What do you wish business owners knew BEFORE talking to you and applying for a loan? How would you help them prepare? Also, what would YOU like to know, so you can better support your local community, increase approvals, and help everyone succeed?