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By David Munro (auth.)

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If Credit Score Positive, Application is Completed and Passed to Loan Production Unit 3. 3. Each element of the loan application, analysis, and approval process will be discussed in greater detail in succeeding chapters. Management Lack of professional management is a commonly cited risk factor in dealing with SMEs. 1057/9781137373786  A Guide to SME Financing “one person handles everything” management approach, and in the event something happens to him rendering him incapable of carrying on.

1057/9781137373786 Constraints to Financing SMEs  condition for granting a loan, but were not surprised when it was repaid with no difficulty. However, if something had happened to the owner…? Staff training A chapter of the Guide is devoted to credit training. Suffice it to say for the moment that a well-trained lending staff is an institution’s best defense against bad loans. Money and time invested in training credit staff will pay off later in low default rates and savings in legal and other administrative fees associated with attempts to collect the bad loans made by inadequately trained bank staff.

To properly assess the effects of seasonal swings in sales, 12 months of bank statements provide a full picture. In no case should large increases in sales be taken on the basis of the entrepreneur’s word alone. The bank should insist upon statements to cover the period of greatest sales, and the period preceding it during which raw materials are purchased, and goods manufactured and shipped. Should the owner protest that he did not run all transactions through the bank account owing to transaction costs imposed by the bank, the answer should be “We are very sorry.

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