Have you ever wondered why, when you apply for a business loan through the bank, you get turned down only after it seemed they were interested? Are they that fickle, or does it really take 2 years of tax returns and a full body cavity search to reject a loan?

No, you have seen firsthand the "file collector". The banker who is adept at making prospects fill out paperwork, nodding approvingly in face to face meetings and then sending a curt letter after you've waited 3 weeks informing you that "while I believe your loan request has merit, it doesn't meet the underwriting criteria of the bank at this time." Which was something he knew long before he even met you.

File collectors believe they are working hardest as their file-piles grow larger. They will go to the Rotary Club every week to meet prospects, and let them know their loan requests are "in credit", while all along knowing the loan has no chance of ever getting approved. Their goal is not loans, it's having files and names to put into a report they send to HQ to show how busy they are.

File collectors won't give you loans. They are terrified of the work and responsibilities that come with making loans and maintaining relationships. They can't tell you "NO", it's always the "Committee" or "Underwriter" because the file collector is a nice guy.

He never says no, or anything else. 

Just as bad as the file collector is Mr. "I need 1 more thing". You gave him everything he asked for, but now I need a listing of the screws in the store by size, cost and date received. He is "Close to getting a decision" but needs 1 more thing, like your grandfather's army discharge papers. And 1 more, until you either can't deliver- and he turns you down, or stop responding out of frustration, or have found someone else, or are no longer in the market. 

Stop wasting time with time wasters, and contact us. 

April 21, 2020- If your bank is running scared from COVID-19, give us a call. Since April 1 our phones have been ringing with old and new lenders looking for good loans. They aren't afraid, and neither are we.  Call or text (518)469-8145.