HOME OWNERSHIP FOR EVERYONE?? IS THAT REALLY A GOOD THING?
Well that sure sounds good doesn’t it? It just makes sense that we should all own a home! I for one disagree! I think there is so much more to home ownership than just getting the mortgage and moving in. even though one may qualify for the loan there are other things to consider that [...]
DOES REFINANCING UNDERWATER MORTGAGES REALLY SOLVE THE PROBLEM?
I have been reading about the mortgage deals Obama is proposing for folks whose home values are less than their mortgage balances. As I understand it, he wants to get lower rate financing for these folks that are current on their mortgages and would like a lower payment on their loans. I don’t understand how [...]
DO WE WANT OUR GOVERNMENT IN THE VENTURE CAPITAL BUSINESS? CAN WE AFFORD IT?
ARE VENTURE CAPITALISTS GREEDY? That is what they say, some even call them vulture capitalists! Well, I’m sure some are and some aren’t like in any business. But in he case of VC’s is there good reason to be “greedy”? I was in the venture capital business for four years and learned a lot about [...]
Banks, government and small businesses
I’ve been thinking about the similarities of banks and government, especially on how they work with small businesses. I have spent 30 years working with them and see quite a few similarities. One of lenders prime functions is to provide the funds to keep businesses going and to succeed. They set loan covenants that are [...]
Bankers say they don’t like surprises; do you?
Bankers don’t like surprises; even if it’s their fault! I have a client situation that could be oft repeated in the next several years. I have a client who was financed by a bank for several years and everything seemed to be working fine until his banker was promoted and he got a new one. [...]
How to find the financing your business needs; and get it!
I heard a businessman in New Orleans talk about financing on a news show last night. He said it was difficult to get expansion financing and he contacted about 20 banks before he got the financing he needed. His comment was: I finally figured out how to present the request! I wish i could have [...]
BANK OVERDRAFT FEES????????
Maybe we really do need a nanny! The banking overdraft fee laws are really interesting to me for several reasons. First, the idea that banks are wrong to charge customers for the privilege of borrowing money without asking is a puzzling one. That is what overdrafts are; borrowing money without asking for permission. I admit [...]
Your first impression with your banker needs to be your best one!
We all know the value of first impressions. If they are good we create a relationship; if bad we have repair work to do. As a former lender I succumbed to making quick judgements many times, especially if my prospect was poorly prepared with their financing request or didn’t have any idea of what I [...]
