Loan Approved or Loan Declined, how about a Maybe? Does this really exist?

Welcome to the wonderful world of Credit Underwriting. Having spent nearly 3 decades in financial services covering everything from Bank Cashier, Bank Manager, Business Manager, Credit Underwriter, and now a Business Finance Broker, I can tell you that the days are long gone when you played a round of golf with your Bank Manager to apply for credit. In fact, in some spaces, it's morphed into something quite the opposite, where the computer decides whether to lend you any money or not. This automated, algorithm-driven decisioning tool has its place, in picking up adverse and risky applications, but should not work in isolation. The 5 Pillars of lending and Campari and Ice are in my DNA (bankers, you know what I mean here), so a human touch is so important. With respect, some Underwriters sit in their Ivory Towers, do not engage with the customer, and therefore do not hear "The story" about how a business is performing. I know this, I was once one myself. I had 2 rubber stamps, Approved and Declined. But how about a 3rd stamp, "Maybe, let's talk". Fortunately, the funders on my panel are very much open to discussion, yes they have Credit policies to follow but also have Guidelines, so if something doesn't quite fit, then they will look at a different way of structuring a deal. It's bending the rules, not breaking them. Now more than ever after nearly 2 years of turmoil and underperformance, reduced revenues, losses, funders need to sit up and listen to the "here and now" and what's down the road in the next 12 months. I fully appreciate that historic accounts demonstrate how well a business has been doing, but with 2 years of filed accounts probably showing some slippage, we need funders to look at Management Information, now that we are coming out the other side, projections play a huge part too. Maybe you don't have a relationship with your bank and don't even have a Manager, maybe you've applied online somewhere and have been declined. Where do you go from there? Most funders have a Business Development Manager looking after the Broker network. It's these people whom we know and meet with frequently, it's these people that help pull together a marginal deal and get it over the line, helping to encourage Underwriters there is a deal to be done. When the computer says NO, there's not much you can do, but getting your story across to a funder that will listen is what we do best. We shine a light on your business strengths and mitigate any weaknesses, challenging back where appropriate. This is the job of a good Finance Broker, helping to secure funding where it's warranted and needed. I've worn all the hats there are, Credit, Sales, and everything in between. A Head Of Credit once said to me when I was trying to convince him to approve a loan. He said, "Tamara, would you lend this customer your own money?" It made me think harder and weigh up all the risks within that business and the probability of default, and actually there were some areas of concern that worried me. As a Broker now and running my own business, it's not all about sales and commission, but I do know exactly how to put together a winning loan application, beit HP, a commercial mortgage, a small business loan, or something much more complex with several different components. So I am reaching out to all of those business owners who have been left behind and forgotten and who have had difficulties in applying for credit - let's hear your story and see what I can do. I'm also reaching out to all of those squeaky clean highly profitable businesses who have not been impacted by Covid, but I'm guessing there are not that many of you. Funders and Brokers cannot afford to "Cherry pick" and look for those vanilla deals that simply sail through. I am here to help everyone and get your business thriving again. Please give me a call to discuss your requirements and I promise to assess your business fairly and to the best of my ability.

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