Shopping for a Supportive Banker

Published: Jan 9, 2006

Application

A supportive banker is a person who, (a) has the authority and the attitude to help small business owners with obtaining loans, and (b) representing a bank with funds available for small business loans.

Prospect by asking business acquaintances to name some bankers who are currently granting small loans. People who are actively using debt financing are your best referrers. This is the same as the prospecting method described in most sales texts.

You stimulate a steady flow of names when you use such prompting questions as, "Who do you know who just got a loan?"

You do not ask for a name only. Rather, you ask for the name of bankers who are in various situations or who behave in a specific way.

Avoid interrupting this flow by asking qualifying questions until you have a list of names. Then, and only then, begin to qualify each name by asking for contact details, types of loans being granted, a banker's specialty, if the referrer has borrowed money there recently, a banker's familiarity with your industry, a banker's lending authority, etc.

These qualifying questions become very important when preparing your approach. The patience to delay asking for such details requires developing a little self-discipline.

At the end of your prospecting session, ask for permission to use the referrer's name.

Stories

Stories from members will add great value to these maxims.

Please post your story by emailing it to max@unclemaxsays.com.

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Outcomes

Being better prepared for interviewing a prospective lender.
Influencing a loan manager with discreet and effective name-dropping during an interview.
Starting out things the way you want them to end.
Less spinning of wheels while seeking a loan.

Shopping for a Supportive Banker

Application

Stories

Outcomes

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