Comments on: The REAL Reason Banks Won’t Lend Any Money http://www.thesmallcompanyblog.com/TheBlog/2009/07/the-real-reason-banks-wont-lend-any-money/?utm_source=rss&utm_medium=rss&utm_campaign=the-real-reason-banks-wont-lend-any-money Articles, Tips and Resources for Managers and Owners of Small Companies. Because There is a Difference. Sun, 29 May 2011 09:21:37 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Eric_Rudolf http://www.thesmallcompanyblog.com/TheBlog/2009/07/the-real-reason-banks-wont-lend-any-money/comment-page-1/#comment-489 Eric_Rudolf Mon, 25 Oct 2010 15:03:24 +0000 http://www.thesmallcompanyblog.com/TheBlog/?p=30#comment-489 Thanks for taking the time to post such a great reply, Jan. I actually DID switch banks, and although I don't have nearly enough room on this page to tell you how it went, I can tell you I ended up having to hire a lawyer--TWICE. Two huge banking institutions, two huge mistakes (in reality, it was three huge mistakes) and zero confidence in our country's banking system at this point. I remember the days when people who worked in banks had to have things like degrees in Finance and common sense. Apparently these things are no longer a requirement. Good luck! Thanks for taking the time to post such a great reply, Jan. I actually DID switch banks, and although I don’t have nearly enough room on this page to tell you how it went, I can tell you I ended up having to hire a lawyer–TWICE. Two huge banking institutions, two huge mistakes (in reality, it was three huge mistakes) and zero confidence in our country’s banking system at this point. I remember the days when people who worked in banks had to have things like degrees in Finance and common sense. Apparently these things are no longer a requirement. Good luck!

]]> By: Jan Rossi http://www.thesmallcompanyblog.com/TheBlog/2009/07/the-real-reason-banks-wont-lend-any-money/comment-page-1/#comment-485 Jan Rossi Sat, 23 Oct 2010 19:57:51 +0000 http://www.thesmallcompanyblog.com/TheBlog/?p=30#comment-485 Years ago I caught my banker in a lie. He owed me. I received a lower interest rate. That was good, but still made me feel uneasy. I checked and double checked their work constantly. Later on I needed a small line of credit to help with cash flow. He wanted financials - I gave him the financials and forgot to add some important information (not on purpose). It should have been in the owed column (like taxes)......he never questioned the financial statement even though it was obviously wrong....and I got my line of credit. Go figure. Just because Doctors wear a white jacket - do not believe everything they say. Just because your Banker wears a suit - does not make him GOD or smarter than you when it comes to banking. Based on this experience I would "call him and his bank out" and personally send a letter to your congressman or woman and also the appropriate channels that regulate this silly "pretend" bank and let them have it. In my opinion they are playing the perfect "bait and switch" marketing tactic. Yes, we will make you a loan....oohh....wait a minute.....ooops interest rate is now higher.....ooops, you where late on that Sears card in 1972......dang sorry! Banks like this are not worth the land value they so smugly sit on. Can you get a loan at a qualified SBA loan bank? I would bail from this bank. Take all your accounts out....and move to a bank that does SBA loans and partner with them. It is a good way to go. So sorry this has happened - good to share your story! - Jan Years ago I caught my banker in a lie. He owed me. I received a lower interest rate. That was good, but still made me feel uneasy. I checked and double checked their work constantly. Later on I needed a small line of credit to help with cash flow. He wanted financials – I gave him the financials and forgot to add some important information (not on purpose). It should have been in the owed column (like taxes)……he never questioned the financial statement even though it was obviously wrong….and I got my line of credit. Go figure.

Just because Doctors wear a white jacket – do not believe everything they say. Just because your Banker wears a suit – does not make him GOD or smarter than you when it comes to banking.

Based on this experience I would “call him and his bank out” and personally send a letter to your congressman or woman and also the appropriate channels that regulate this silly “pretend” bank and let them have it. In my opinion they are playing the perfect “bait and switch” marketing tactic. Yes, we will make you a loan….oohh….wait a minute…..ooops interest rate is now higher…..ooops, you where late on that Sears card in 1972……dang sorry!

Banks like this are not worth the land value they so smugly sit on.

Can you get a loan at a qualified SBA loan bank? I would bail from this bank. Take all your accounts out….and move to a bank that does SBA loans and partner with them. It is a good way to go.

So sorry this has happened – good to share your story! – Jan

]]> By: DC3 http://www.thesmallcompanyblog.com/TheBlog/2009/07/the-real-reason-banks-wont-lend-any-money/comment-page-1/#comment-307 DC3 Tue, 24 Aug 2010 16:46:05 +0000 http://www.thesmallcompanyblog.com/TheBlog/?p=30#comment-307 congrats on a credit score over 800! I agree with Salt5792 on the nature of bankers, but that is honestly the nature of humanity - that's why we need to work with it, rather than trying to work against it. Human nature is greedy, which is why a market regulates itself. congrats on a credit score over 800!

I agree with Salt5792 on the nature of bankers, but that is honestly the nature of humanity – that’s why we need to work with it, rather than trying to work against it. Human nature is greedy, which is why a market regulates itself.

]]> By: uberVU - social comments http://www.thesmallcompanyblog.com/TheBlog/2009/07/the-real-reason-banks-wont-lend-any-money/comment-page-1/#comment-119 uberVU - social comments Mon, 05 Apr 2010 02:19:13 +0000 http://www.thesmallcompanyblog.com/TheBlog/?p=30#comment-119 <strong>Social comments and analytics for this post...</strong> This post was mentioned on Twitter by TSCB: [ New Article ] Just Posted: The Real Reason Banks Won't Lend Any Money ... http://tinyurl.com/kjhzk3 ... Feel free to Retweet.... Social comments and analytics for this post…

This post was mentioned on Twitter by TSCB: [ New Article ] Just Posted: The Real Reason Banks Won’t Lend Any Money … http://tinyurl.com/kjhzk3 … Feel free to Retweet….

]]> By: Robert Rogers http://www.thesmallcompanyblog.com/TheBlog/2009/07/the-real-reason-banks-wont-lend-any-money/comment-page-1/#comment-116 Robert Rogers Sun, 04 Apr 2010 05:09:04 +0000 http://www.thesmallcompanyblog.com/TheBlog/?p=30#comment-116 Interesting story. It is interesting to hear this happening to people over and over again. After a while, though, banks are going to have to do some sort of business. This capital really needs to be out on the street. Interesting story. It is interesting to hear this happening to people over and over again. After a while, though, banks are going to have to do some sort of business. This capital really needs to be out on the street.

]]> By: Salt5792 http://www.thesmallcompanyblog.com/TheBlog/2009/07/the-real-reason-banks-wont-lend-any-money/comment-page-1/#comment-105 Salt5792 Sat, 27 Mar 2010 18:59:18 +0000 http://www.thesmallcompanyblog.com/TheBlog/?p=30#comment-105 In my experience, bankers, as a rule, are greedy, treacherous, incompetent and irresponsible. The treatment you got is in the mainstream. In my experience, bankers, as a rule, are greedy, treacherous, incompetent and irresponsible. The treatment you got is in the mainstream.

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