Getting by your banker: tips on how to come away with the loan

Article Abstract:

The basics of bank loans and credit acceptance techniques are explained for the individual or small business borrower. Included in the explanation are: the three acceptable reasons for borrowing; the five things the banker must know prior to granting the loan; the seven credit criteria borrowers must meet; the four methods of repaying a loan; and the two reasons for which loans can be renewed. Loan applications can be facilitated by preparing a "term sheet," stipulating on one page how much money is needed, how long the loan should last, the purpose for the borrowed funds, the possible repayment terms, and an alternative plan for repaying the loan, should repayment terms prove impossible. Suggested techniques to use during the credit and loan-granting interview process are also discussed. The most important aspect of acquiring credit is the preparation performed prior to requesting the bank loan.

Analysis, Management, Loans, Commercial loans, Bank loans

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Wrenching financial statements away from Canadian customers

Article Abstract:

Many U.S. treasury managers believe that a major problem in dealing with Canadian companies is getting financial information from those companies. Fibre Glass-Evercoat in Cincinnati, Ohio refused to sell products to a Canadian customer until it received financial statements. Although the problem appears to be a cultural one, there are ways to resolve the matter without resorting to risky ultimatums. Suggested methods for obtaining financial information include: making inquiries of the potential Canadian customer's banks and suppliers through a Canadian bank, having the credit information services unit of a U.S. bank investigate the Canadian firm's credit, and dealing on a one to one basis with branch managers of Canadian banks.

United States, Canada, Finance, Economic policy, Corporations, column, Corporations, Canadian, Fibre Glass-Evercoat

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Rating firms analyze bank credit-quality

Article Abstract:

Treasury managers have ways of finding out a bank's credit-quality. Several companies offer this service to treasurers. A list of such companies and their services is provided.

Banking industry, Economic aspects, Financial institutions

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