RevenueLoan Blog

November 1, 2010

Bernanke speaks: Banks plug their ears

Filed under: news — Christian @ 12:23 pm

I found this article – Bernanke Urges Banks to Up Small Business Lending – from July on Inc. Magazine’s web site, and am not surprised that the banks looked Ben directly in the eye while sticking their fingers deep in their ears.

Banks give loans according to strict guidelines (unless you happen to play golf with the bank manager), and there isn’t much that is ever going to change that. They look to the past to see if you can pay in the future.

At RevenueLoan, we look to the future to see if you can pay. If you have a good plan for growth and the numbers to back it up, we want to give you the money to grow. That is a winning proposition for both of us.

But a traditional bank? Stuck in the past and looking backward, wondering why they can’t see the future. It’s kind of sad, really.

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