Bob Coleman
speaker
955 appearances
2 recordings
1 series
first heard Jan 2012
last heard Mar 2012
Bob Coleman’s voice in public audio — every appearance, attributed to the second.
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Appearances
Yeah, absolutely.
Absolutely.
and the banks are using that sometimes just as a pass-fail test, and that can be a difficult hurdle to overcome.
you just went through that list, say that, with all of a sudden the banker across the desk is hearing that, and the banker's going, well, if that franchisor hasn't done the basic things, I'm not going to get involved.
So you can actually, when you're rattling that stuff off, if you listen to it from the banker's ears, they're not going to touch it.
loan.
me interject there, because that's – and I hate to be put in the position of the bank apologist.
I don't know where I signed up for that.
But let me put a little twist on it.
And when you say protect their butt, what they're really protecting is, if you think about it, to sign up on a loan, they have to go through seven, eight, nine layers of –
people to sign off on it.
And each of those layers has a different perspective and a different constituency.
And I'm talking about the immediate boss, I'm talking about the chief credit officer, I'm talking loan committee, the board of directors, and then that's just internally.
Then all of a sudden you have layers of layers of regulators.
You've got the SBA, you have the FDIC, you have the OCC, you have the CPAs.
So it's
To put it in that perspective, again, I'm charitable.
You know, banks are my customers, so I try to see how they're thinking.
But they have so many different layers to satisfy, and everyone has a different test.
So I tend to put it that it's a very difficult process to take your loan application and navigate it through that maze of regulations and layers.
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