Good article in ‘Business Moneyfacts’ this month. It recalls how bankers used to rely on ‘the story’ behind a businesses finance application, as much as ensuring that ’all the boxes were ticked’. However the changes in banks have led to the front line bankers now having to be more processing driven, plus it seems that they find it harder now to predict what their underwriters are thinking. That makes it harder for businesses to present their case to the banks as they need to understand ’what boxes they need to get ticked’ and how best to explain what they are seeking to do. Interesting how many ex-bankers have now gone into the intermediary world – fulfilling the role of helping worthy businesses put their application across in the most compelling way and at the same time understanding what the banks need. Going through an adviser with these skills will not guarantee you funding, but it will definitely increase your chances of success – and with a limited number of lenders out there how many chances are there to get it right?
