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Two for the Price of One

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June 27, 2013

small business lendersBy Bob Coleman
Editor, Coleman Report

There are two takeaway’s in this afternoon’s Coleman Report.

First, this is an example of how the CEO and Founder of Worthington National Bank uses a Twitter inteview for a branding and marketing exercise.

The second takeaway is the content itself. Check out these tweets.

SmallBizLady: What are the typical qualifications for a small business to secure a business loan?

Greg Morse: When we are considering small business loan applicants, we typically look for candidates that have a clean credit report and that can prove to us they have been successful with good cash flow. Businesses that stick out to us have been solvent for three or more years and have an owner who has some skin in the game. When an owner has put their own money into keeping their business afloat, that tells us they are actively involved in making their business a success – a quality we admire.

SmallBizLady: What are the best ways to build a business relationship with a business banker?

Greg Morse: The easiest way to build up your relationship with a business banker is to get to know him or her as a friend. Attend community events where he or she might be to continue building that rapport.

SmallBizLady: How much financing should I ask my bank for?

Greg Morse: Never go in and ask a bank for 100% financing on anything. It looks much better to a bank if you have some skin in the game.

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