Re-Inventing Retail

From the Co-Founders of The Retail Owners Institute.
Tips | Tactics | Insights on the Business of Retailing.

Banks Are Lending. Remember How to Schmooze? Bookmark

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You’ve been seeing these reports, too? 

Word is that banks are increasingly willing to lend, especially to “small businesses.” There are several influences at play here.

One is the optimism in the business community that the Trump Administration and Republican Congress will actually reduce regulations, loosen compliance demands, and otherwise open the spigot more.

And Community Banks are optimistic for relief from some of the more onerous paperwork requirements that were written with the Big Banks in mind. 

Meanwhile, the rise of alternative lenders – the online marketplaces – brought a more streamlined way to handle the paperwork of banks. And they paved the way for using Big Data to make safe, defensible lending solutions.

Now the Big Banks have begun to partner with these alternative lenders, hoping to combine the efficiencies of their technology and their savvy about Big Data to enable more lending to more business owners.

And there is some pressure on all of these lenders to better serve “small businesses.”


Does that mean there is actually a loan in your future for your business? Could be.

But once again we would encourage you to focus your energies (and charm offensive) on Community Banks. Here’s why.

  1. Their definition of a “Small Business” may be far more relevant to your size business than would be the Big Banks’ concept.
  2. With a Community Bank, you actually have an opportunity to develop and cultivate a relationship. Both you and the banker are part of the community, and see one another in settings outside the bank. Maybe your child’s soccer game? Parents Night at the school? At church? Maybe even in your store!
  3. Building that relationship really is the key. And it is much easier to do with a Community Bank, as their personnel are much less likely to be transferred to another town.

Want to find out more? Check out this Fast Track to Finding Financing page on one of The ROI’s microsites, Banks4Retailers. You will find 3 great tools there for you to use – free!

Community Bank Locator

Guide to SBA Loan Programs

An “Access Financing” guide from BusinessUSA

You also will find lots of other great information on that site. Knowledge is power! And Banks4Retailers is sure a great resource for you to be empowered.

But, since who you know still matters more than what you know (sigh), make time for that relationship with your community banker!

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About The Co-Founders

Pat Johnson and Dick Outcalt, The Co-Founders of The Retail Owners Institute®, have been called "The Zen masters of retail finance!"

Since 1999, they have been assembling  their proprietary content into a unique self-help website. The Retail Owners Institute is an unmatched resource that assists retailers worldwide with basic financial training, assistance and easy-to-use tools.

Their engaging and empowering how-to resources about the financial levers in retailing are informative, fun(!), and retailer-friendly. Their promise: "Everyone will 'get it'!"

Pat and Dick are recognized experts in strategic retailing. Working only as a team – Outcalt & Johnson: Retail Strategists, LLC – they have been consulting, publishing, and speaking professionally throughout North America since 1990.

They focus exclusively on retail, or wherever retail is involved. They work with CEOs, CFOs, boards and owners of retail operations, as well as manufacturers or wholesalers expanding into retail. And they also are Retail Turnaround Experts.

Since 1999, empowering retailers and store owners to "Turn on your financial headlights!"