banker

Top 5 complaints bankers have about business owners

Top 5 complaints bankers have about business owners

Be honest.  We all kind of complain about each other.  It’s a normal part of being a human being.  As agreeable as most people are, when it comes to dealing with others, there are still ways to improve our relationship.  Even when our motto is “the customer is always right”, with a little nudge they could be perfect! 

During the last few years I have spent a lot of time with small business bankers.  The conversation generally turns to examples from our past experiences, both wonderful and horrible.  It is during these conversations that I noticed a common theme among the things that annoy the banker.  It is interesting because for over 20 years, I was on the business owner side of the desk.  Not only that, I was guilty of some of their annoyances.

Small Business Owners Need Financially Intelligent Lenders (Infographic)

Small Business Owners Need Financially Intelligent Lenders (Infographic)

As we've seen with the surge of alternative lenders moving into the banking space, now is a pivotal time for lenders to move towards the next wave of innovation. Small business lending is the largest and fastest growing and one of the most profitable sectors, with total revenues from nonemployers hit $989.6 billion in 2011.

The main bottleneck for many lenders in reaching their goals for this market is the time it takes to gather and organize financial statements from small business owners. The infographic below shows how investing in new business intelligence software systems can increases the productivity and overall success of small business lenders.