What to do when you have to say 'no'…alternatives to bank financing for business

In his latest post to the AllBusiness.com Main Street Financing Challenges Blog, Sam Thacker reminds business owners about alternatives to bank lending.

Sam is a buddy of mine from Austin TX who is currently a partner in the Austin Texas based financial consulting firm, Business Finance
Solutions which assists small businesses with financing challenges.

Why do you need to know about non-bank lending?

If you are a bank or credit union lender, you need to know the alternatives available to your customer/members. And heck, if you can’t make the loan they need right now perhaps you ought to be recommending, temporarily, a non-bank financing alternative.

Often they are more costly so the business will have an incentive to come on back, especially if you solved their problem even when you could not make the loan.

Read Sam’s full post here:

Alternative Lending Sources Are Loaning Money

What alternative sources have your business borrowers been using when you have to say no?

Related Posts

Double-Counting Capital Gains Income from a 1065 K-1

2 NEW C's of Credit! Apply these in your business borrower relationships

8 Lender Lessons Learned (?) from the Credit Crisis

Understanding Partnership Interests: CPA Tony Mailhot on Negative Basis and Tax Implications

Share 0

Linda Keith

Linda Keith is an expert in credit risk readiness and credit analysis training. She trains financial institutions throughout the United States on both Tax Return and Financial Statement Analysis.
She is in the trenches with lenders, analysts and underwriters helping them say "yes" to good loans.
She moved her in person training online in 2008 to www.LendersOnlineTraining.com with a continued focus on lending to businesses, farm operations and complex individual borrowers.