Australian Financial Services Directory  








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Hot Management Tips ...

Better Ways Of Requesting Loans ...

Bank manages are used to sitting back and firing all the questions. When applying for a loan, try reversing this. First, the banker will usually ask how much you want. Instead of volunteering a sum, try saying “I don’t know. But I thought that you could help me work it out. You’ve had more experience with this sort of thing”. You’ve probably won the first round. Your advantages are these:

  • You’ve forced the bank manager into looking into your business. If he doesn’t, he is not acting responsibly.
  • By looking into your business, he has allowed himself to become involved. That means he will want you to win, otherwise he too will be a loser.
  • You haven’t mentioned any figure. Eventually you may have to, but if not, you’ve avoided the hassle of having him cut back on your suggestion.
  • By bringing him into your confidence, you’ve made him the hero. He can now treat you paternally.
  • Best of all, the question is no longer whether he will give you a loan, but how much?