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You start with the manager. But you may be passed to the Vice President/Lending. Most likely, however, you may find that Mister J. Fred Banker is "not available," and some assistant will take your number. Do not sit by the phone and wait for him to return your call. Like most bankers, he's a very busy individual being phoned constantly by people he already knows, who are more important than you, a total stranger. Call him back. Call him again. If he has a voice mail, saturate the system with your patient, professional messages. (If I find out he has no time-called indicator, I'll call 13 times in ten minutes!) Finally, J. Fred will realize, hmmm, this guy's persistent, and he's going to screw up my voice mail if I don't call him back. So he calls.
You introduce yourself, graciously thank him for returning your call, and begin the same basic opening routine: "I'm in the so-and-so industry, and we're experiencing rapid growth, with opportunities in several directions. I'm looking to establish a financial relationship for my business, and I'm in the process of interviewing several banks which have been recommended But rather than go into details over the phone. I'd like to set up an appointment to meet you and talk personally. When would be the best time for me to come by?'
Notice you didn’t say, 'I need to borrow some money, and I need it by next Thursday.' Bankers, you see, are very much into relationship banking. They want to know who you are, see your face, understand what the hell you do, and begin forming a judgment as to whether you'll be able to pay back any capital they may ultimately lend you. Personal chemistry - not the numbers - is absolutely key, both for you and J. Fred.
By the way, it's part of your strategy that you inform Fred you're "interviewing" banks. This puts him on notice that, as far as you are concerned,you're the one doing the selecting... you're in control of hiring a bank, maybe his, to handle your affairs. It also tells him you're talking to his competition, and if you are a significant account for him, he's going to have to earn it. Doesn't that approach beat the hell out of how you always thought it would be - crawling on your knees to grovel for a loan?
So, in order to begin developing your mutually beneficial relationship, you might suggest lunch. Bankers always pick up the tab. It's part of their training. I've been dealing with bankers for over 35 years, and l've never bad to buy a banker lunch (except in Scotland!). It's even better if you can arrange for one banker to see you baving lunch with another banker.
Your first meeting is to get acquainted, for each of you to see what the other looks like and sounds like, so the bonding process between you can, you hope, begin. Your initial presentation of your project should still be general, and last no more than five to ten minutes. You also have two other things to do during this meeting: listen... and ask questions.
As you discuss your ideas, give the banker a chance to react to what you're presenting him. After all, he'd had a lot of dreams come over his desk, some dissolving into smoke, others becoming realities. This guy can probably offer some suggestions and ideas you can incorporate into your thinking, help you sharpen your focus, and even give a better presentation to the next banker you talk to. His advice is free, and it's based on experience. So listen to him.
Most "wannabe" borrowers sit in front ofa banker with no idea of what to ask beyond "Can you help me?" They don't understand that they should be in the interview mode, asking questions to clarify just what this bank is all about - and if it's the best bank to fund your project. (…) Let's talk about some of the questions you need to ask each banker with whom you have a meeting - and why each question is important:
1. What is your personal lending limit? Secured and unsecured? Every bank manager and loan officer has a credit limit that he or she can approve without having to check with a superior. Ask. In fact, ask this question on the phone before your first meeting. You may be talking to the wrong person. And don't let them hedge around with relationship doubletalk and bullshit. It's a specific number. (…) But if you determine that this person does not have the authority to approve as much as you may need, move beyond him immediately.
2. Who do I have to go to for an approval on the next level of financing? (…) Don't waste your time making presentations to the wrong people. While you're asking about lending limits, inquire about the credit limits of the bank itself. When you ask a banker about his employer's' unsecured credit limit (usually 1% of assets), he begins to think of you in terms of maximums.
3. Are you a centralized loan institution that pools loan requests, or a branch-based lender? (…) You're looking for a branch-based lender (…).
4. Is your bank presently in a lending mode, or in a downsizing mode? This is code for, 'Have you made some bad loans in the recent past. to the extent the government is watching your lending practices very closely?' It's not classified information, and your banker will respect you for knowing to ask the question. If he says something like, "Well we're in a holding process right now," that's his coded response for, "We're in a death spiral right now. Do you have any openings for a former banker?" Before you escape, you may want to buy his lunch.
5. What type of ventures do you like to make loans on? (…)
6. What was the last deal your bank turned down? And why? Another unexpected question. But get your banker to tell you about that deal, even hypothetically. As he relates to you a case of what he was not looking for, you gain a new insight into what he is looking for in a lending relationship.
Sayfa 141 - IKitabı okudu
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