Re: Business Credit 101
01-08-2008 07:41 PM
I appreciate your advice. However my husband has many, many buddies,friends,
that are commercial bankers here at local banks, 5 to be exact. He/we have many mortgages
on investment properties that we have owned nearly 3 years ago.These bankers just will not
talk to us. With all due respect to your advice they want way to much. All of these "friendly"
neighborhood bankers have all thier underwriters they have to talk to and it's always the same
old story. I'm sick of leveraging out my property and putting another lien on these properties
for small lines of credit. Every banker, who again I reiterate, have become friends of ours that
we socialize with,etc., all say their hands are tied. The day of working with the local banker
is over frankly imo. This is the day of the internet and you have to search all over to find the
best deal. I'm no longer going to pledge my first born to the "local banker' for a small loan.
My personal credit score is above average and climbing and my husband just has a ton of
mortgages on his and 3 30 day lates, over a year ago, on his credit cards, so his score is down.
Mine is good, yet these bankers want so much documentation it's absurd. There are banks popping
up all over the place here. But where is the commercial banker that does not have to answer to
him,her, and everyone else in their underwriting dept.??? It's ridicuously frustrating. My husband
and I have owned a business for 21 years. We just want a small business loan and would love
to get something simple.