Breaking the Bank: An Insiders Guide to Obtaining Business Loans,Used

From the Back Cover Addison Parker Plays Deep Throat To The Banking Industry'S Watergate 'Bankers and regulators would do well to reevaluate their current course based upon the look in the mirror this book provides.' Banker's name withheld 'Rarely does one get the chance to see the analysis of a loan or application from the banker's side. This book provides key insights into why banks make some of the decisions they do, and what a company can do to make it easier to obtain financing in this age of increasing regulation.' Stephen Kauffman, PresidentDivco Construction Corp. 'Very informative! A well written, easy to understand guide for small businesses.' James P. Dellas, CEOU.S. Capital & Development, Inc. 'An excellent and easily read reference on how we ended up where we are, and how to acquire credit in this new era of banking. I'm in the process of putting several of the book's methods to immediate use.' Lynn A. Daugherty, CEOGrove's Edge Building Company 'The Concord Coalition will not issue a statement on the book...' A nationwide grass roots movement to eliminate the deficit. CoChaired by senators Paul E. Tsongas and Warren B. Rudman The link between current banking practices and the federal deficit is a wellkept and frightening secret! Product Description Parker, Addison About the Author The author received a Bachelors degree with a double major in Management and Finance from a state university. In addition he obtained his Series 7 license from the Securities and Exchange Commission qualifying him as an investment counselor for both debt and equity instruments in the primary and secondary markets. He is familiar with all phases of bank administration and has direct experience in branch operations, consumer lending, and residential loans. His primary focus, however, has been in the area of corporate finance and commercial real estate lending. Most recently, he oversaw the operation of a $60,000,000 a year residential department while simultaneously responsible for underwriting his institution's development loan requests. Excerpt. Reprinted by permission. All rights reserved. Chapter 1: Why Banking Changed: I suppose it has always been part of a banker's job to remain highly visible within the community. Given that services have become all but completely homogenous, it's of paramount importance today. So tonight I'm attending yet another dinner function. The scheduled speaker is to elaborate on the city's zoning changes. A less than scintillating topic that will have most of the audience napping in no time. However, I won't be. I'll need to stay alert for the question and answer session. At which time, no matter the presentation content, the gathering will probably move into a little banker bashing. Happens a lot. It seems flat out amazing, so long as the discussion is remotely related to business, someone in the crowd will invariably bring up the lack of money being lent by banks. This always livens up the group. Instantly you'll hear testimony on requests rejected, proposals altered to the point of being ridiculous, and the time that it takes to get any answer at all. 'What the blank are these bankers doing anyway?' is usually the emphatically asked question. Now being highly visible in the community means being a big red target. Boy, I can't wait to go tonight. Industry Transformation: Let's have a review of basic economics. When a business holds a monopolisticg position it can be relatively assured of enjoying good profit margins. Accordingly, there is little reason for management to take excessive risks in operation. In the event true competition arises and the business has to fight for its customer base, management will be forced to make more and more decisions that increase operating risk. They may lower the price of the product, pledge faster delivery, take on additional leverage to try and attain higher market share, etc. When this occurs, the firm's risk of bankruptcy ri