Cultivating referral relationships with as many sources as possible is always a good idea. Commercial loan officers at local banks are in a unique position to encounter business owners experiencing financial difficulties. Getting numerous bankers on your referral list will dramatically enhance your revenues.
Bankers will be quick to know when their commercial loan customers are having problems. When you explain to bankers that you may be able to assist their commercial customers with their non-bank loans on a no results, no charge basis you will give them a very valuable resource to offer their customers.
By negotiating improved payment terms and / or discounted settlements with other creditors, their customers will have more funds available to make their bank loan payments.
Make a few inquiry calls to some of your local bank branches, both big and small, and try to speak with someone with the authority to approve referrals your way. Presidents and Branch Managers are obvious places to start but many banks have also set up special divisions specifically for problem commercial accounts. The more people with the bank you can make aware of your risk-free service the better.
Scott F. Soape
Sunday, June 10, 2012
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