Romancing the Loan – a must read for anyone wanting to borrow from a bank

Romancing the Loan by Larry Tyler

Review of  “Romancing the Loan” 

14 Principals for opening your lender’s vault.

Revealing the Secret Combination to YES. 

By Larry Tyler

Forward by Philip Campbell, Author, Never Run Out of Cash

I first met Larry over the phone a few weeks ago.  He had come highly recommended by Philip Campbell.  All I knew was that he was an ex-banker, and I read a 10 or 11 page article he had written – which turned out to be a very condensed version of his book.  It was directed more at franchisors, urging them to take the lead in helping their franchise network line up the capital they need to survive and expand.  It piqued my interest, and I dove right in when the full book (just under 200 pages) arrived in the mail a week later.

 I’ve always considered bankers to be the enemy.  You know the adage – a banker is someone who will lend you an umbrella when the sun is shining, but demand it back at the first hint of rain.  But Larry has a point:  you have to look at it from the banker’s point of view, and give him the ammunition he needs to get the loan approved.  You have to cultivate the banker – establish a trusting relationship.  You have to Romance your banker.  And Larry proceeds to tell you how.

Financial information, including cash flow projections, turns out to be the dating equivalent of candy and flowers.  Honesty and passion for your business figure prominently, of course. Also: frequent contact – whether the news is good or bad.  Heads up on key financial events.

 I found the book to be an easy read, and entertaining while he drove home his critical points about what you need to do to maximize your chance of approval. 

 An unexpected treat was Larry’s business philosophy, and it made me realize I need to be reminded of it every once and again.  And that is that business is all about relationships.  You have to cultivate relationships, spend time on them, be nice, spread the love – to make the relationships enduring and valuable.  It’s not only a good idea from a societal point of view, but it is good for business.  When things get dicey, you sometimes forget that it is better to give than to receive.  I’ve always preferred being nice to being an SOB, and Larry gives affirmation that this is the key to business, not just landing the next bank loan.

 Romancing the Loan – Highly Recommended!

review by Rusty Luhring, founder of Luhring SurvivalWare, Inc.

www.survivalware.com

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