The banks are lending!

Great start to my day Friday - two e-mails from Lloyds TSB Relationship Managers saying that they have agreed finance for two buyers one purchasing a Fish and Chip shop the other a Sub Post Office. I know there are many commentators who castigate the Banks for what seems a restricting of credit to small businesses but I have to say that is not my experience, either from my time at Lloyds or since leaving and introducing buyers to Lloyds and other Banks for finance. True the Banks are considering finance applications carefully, back to the "Captain Mannering" banking style of asking the common sense questions and checking thoroughly that the loan is affordable - but we would all be criticising them if they were lending without such scrutiny.
Today one of the Lending Managers at Barclays met a buyer to discuss a loan requirement which to be fair has its challenges! The will to try and "find a way" to help this excellent individual buy the business is so pleasing to see. The Banks do want to lend in my experience to the right person, running the right business, in the right location, with the right cash flow and profitability. Both these Banks are delighted to receive opportunities to lend and long may that continue. I appreciate that this is not the experience of everyone which is unfortunate indeed, but I look forward to helping many more buyers acquire the finance they need to buy the business of their dreams.
The afternoon brought a change in role as I started a series of interviews for a new "Telephone Business Sales Negotiator" as we are expanding our team at Ernest Wilsons. We are always on the look out for outstanding people.