Does your business need to replace equipment? Are you searching for a lender? There are endless possibilities for commercial financing these days.  With so many choices, how do you sort through them with the confidence you are making the correct decision?

These seven questions will help make your decision easier:

1.   Do I need a traditional big bank with unlimited capacity or would a smaller community bank or perhaps non-traditional lender provide enough capacity?

2.   Do I prefer an on-line application or a face-to-face experience?

3.   Is an existing relationship best or someone new?

4.   Should I seek a provider with the lowest rates along with possible fees and charges or a fair rate with no surprises?

5.   Do I need a quick credit decision (less than 10 minutes) or would a processed decision based on mutual respect, trust, and communication be fast enough?

6.   Is this a one-shot deal or is it better to line up future financing with a trusted partner or many deals over many years?

7.   Am I okay with a lender who will plug my company‚Äôs financial statements into their credit scoring model or one who will look beyond the numbers and ask questions to personally understand my story?

 

Which lender serves your needs best?  How important is pricing? What about trust, timeliness, longevity, integrity, experience? How important is building a future relationship?

 

There are many choices for financing. Choose one that fits your needs.