Recorded: March 24, 2014
Length: 60 Minutes
Cash is the lifeblood of a business. As such, the business either has it or seeks access to it. Credit is the financing of the borrower's cash shortfall. When requesting a loan the borrower is really seeking access to additional cash. When approached with a loan request the banker must make a decision. This decision creates a "Yes" or "No" response when confronted with a commercial credit opportunity. What if we were to consider a response of "No, but"; the borrower is too credit risky for our institution but here are alternatives to assist you in getting access to cash.
Rather than being a "sales person" what if we took the approach of a "trusted advisor"-providing assistance as the "solution person"? In this scenario we would become a key part of the customer's financial activities and create increased potential they would return to us regarding financial issues with the business-which opens the door for new products and services.
During this 60 minute audio conference we will address:
- Discuss the role of credit in financing a commercial entity.
- Review key elements of the credit decision-making process.
- Identify activities in the process where the institution can indicate the customer has more risk than acceptable and identify options to assist the customer in achieving the necessary financing.
- Discuss financial products/services that could be used by the customer to better manage their business to success.
Speaker: Jeff Judy, Jeff Judy Associates
I have devoted more than thirty years to exploring relationships between financial service providers and their customers. That experience has convinced me that both the provider and the user of financial services benefit from deep knowledge and a thorough understanding of how that interaction works, and from knowing what goals, concerns, and methods command the attention of both sides of the relationship.
1 CPE Credit
Program Level: Basic-Intermediate