In today’s puzzling financial environment, a suggested starting point for small business owners attempting to make sense of the chaotic banking environment is to ask a series of questions. While this must then be accompanied by finding candid and accurate answers, the focus on asking the right small business financing questions will help guide commercial borrowers to a more effective business solution. Here are a few of the questions that deserve to be on any meaningful list (and yes, there are other important questions that are not shown here in the interest of keeping this concise):
- Is my bank a “Zombie Bank”?
- Is my bank a “good bank” or a “bad bank”?
- Should I fire my bank and my banker?
- Which banks are actively making commercial loans to small businesses?
- What should I do when my bank repeatedly says “No” to routine requests for commercial financing and working capital?
One conclusion that should be drawn from this “sample list” of commercial finance questions is that one question is likely to lead to another.