Check Out Our Advertisers!
     None  Accounting/Bookkeeping
     None  Alterations
     None  Animal Care
     None  Attorney - Lawyer
     None  Auto
     None  Automotive Dealerships
     None  Aviation
     None  Banks and Credit Unions
     None  Barns and Steel Buildings
     None  Bed & Breakfast
     None  Blacksmith
     None  Churches
     None  Computer Services
     None  Dentist
     None  Dry Cleaning
     None  Electric utility
     None  Electrician
     None  Equine Services
     None  Excavating
     None  Eye Care
     None  Feed Stores
     None  Field Mowing
     None  Financial Services
     None  Fitness/Physical Therapy
     None  Fitness
     None  Flooring
     None  Florist
     None  Funeral Home
     None  Garage Doors
     None  Hair/Nail Care and Cosmetics
     None  Health Care
     None  Heating and Cooling
     None  Home Builder
     None  Home Improvement
     None  Home Inspector
     None  House Cleaning
     None  Insurance
     None  Internet Service
     None  Jewelry
     None  Landscaping
     None  Lawn Care
     None  Massage Therapy
     None  Mortgage
     None  Painting - Interior/Exterior
     None  Paving/Asphalt
     None  Pet Grooming
     None  Pet Sitter
     None  Pet Store
     None  Photography
     None  Plumbing
     None  Portable Buildings
     None  Propane Delivery
     None  Real Estate Services
     None  Restaurants
     None  Riding Lessons
     None  Roofing
     None  Schools
     None  Sewing - lessons, supplies
     None  Shipping Services
     None  Signs and Banners
     None  Specialty/Gifts
     None  Storage
     None  Tax Preparation
     None  Tile - Installation and Repair
     None  Tires
     None  Towing
     None  Welding
     None  Window Replacement
     None  Windshield Repair
     None  Yoga

If your actions inspire others to dream more, learn more, do more and become more, you are a leader.
– John Quincy Adams  
About | Contact | Advertise | News Stands | Subscribe | Privacy Policy 

  Volume No. 13 Issue No. 2 February 2016  

None 2016 Taxes   None Adopt Me   None Black Forest News   None Book Review  
None Business Briefs   None Community Calendar   None Did you know?   None FFPD News  
None Face to Face in Falcon   None From the Publisher   None Monkey Business   None News Briefs  
None News from D 49   None Pet Care   None Phun Photos   None Rumors  
None Trail Mix  
Front Page   |   Feature Stories   |   Search This Issue   |   Log In
Printer Friendly Version
  Three simple steps to loan approval
  By Joan Lawson
  President, Farmer's State Bank

   The American economy is showing signs of recovery but still reeling from the effects of endless credit card debt, housing foreclosures and price increases on everything from a gallon of gas to a gallon of milk.
   Some financial institutions have responded to the economic turmoil by tightening the reins in the lending department. This is disappointing news to consumers and small businesses in need of additional funding.
   With the cards stacked up against many bank loan applicants, I thought it would be a good idea to share some incite into a few things that consumers can do to improve their success in acquiring a loan.
   At some time or another we have all experienced the unfortunate feeling of rejection when a bank says NO. What you may not know is that “denial” may be avoided if we take three simple steps to prepare for success.
   No. 1: Do your research
   This is especially important in light of some financial institutions “tightening the reins.” Don’t make the mistake of applying at just any bank. Find out which banks have a reputation for approving the kind of loan you are seeking. For instance, some banks don’t particularly like to loan money for a used vehicle or an older home; others do. If you’re looking for a business loan, ask if they are an SBA lender or involved with any other government programs. Discuss with the banker other alternatives to facilitate your request.
   No. 2: Establish a relationship with a banker
   Banking is about relationships, especially when you want them to loan you money. You have a much better chance that lenders will approve your request when you need it if they already know who you are. Not only will you develop that face-to-face relationship, but you will also have the opportunity to get your financials organized and in shape with a banker’s eye in mind.
   No. 3: Be professional at the interview
   Your bank loan interview is just like any other. Make sure to be on time and be courteous. Pay attention to how you express yourself and come prepared with the proper documents and a well-thought-out plan. You will show the lender that you are responsible and a good candidate for a loan.
   Obviously, this list is in no way intended to be comprehensive; but just following these three steps will increase your chances for success.
   There are a number of factors the bank considers before financing is approved for any need. Credit history, the type of loan that best suits the need, how you plan to repay the loan, what’s the best loan term, collateral needed to secure the loan, how much should you borrow – they are all factors that enter into a loan decision.
   If you would like a more comprehensive list of “Do’s and Don’ts” go to (no “www” needed, enter just as it is written). There you’ll find a free report with all the information you need to increase your success in getting a loan for everything from a new vehicle to your dream home.


© 2004-2016 The New Falcon Herald.
All rights reserved.