Home – New Forums Money matters Big Praise for one of the Big 4

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  • #979055
    AgentMail
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    Ok, I know we are not allowed to refer to names in the forums, so let’s call bank A – More Phone calls, Less response and Bank B – Living in the real world

    So, after finding that most financiers don’t understand the in’s and out’s of major mailing equipment (no real surprise there), we had to look at alternative sources for capital raising. When i say capital, we are talking 20-25k.

    So I spoke to my existing bank, Bank B, who said that they could probably assist with some unsecured lending, but the interest rate might be a little high. Ok, I thought, I’ll do a bit of hunting around. And then I stumbled upon Bank A, who had a great offer for new/start-up businesses, who couldn’t get funds through standard criteria, but needed funds to help start or grow a small biz.

    To cut a long, long story short, Bank A managed to waste 8 weeks of my time, continuously failing to return calls. I even had the woman at the main office tell me that this special loan gets put to the bottom of the pile for more important loans – so basically, it is a big PR stunt to show, hey, we really care about small business.

    Deflated, I went back to my original bank, who within 4 days, had the loan approved, paperwork drawn up, came to ME to get the paperwork signed and I will have my funds within 2 days!

    Finally, I wish I had gone with this option in the first place, but I guarantee they will be getting all my business in the future!

    #1111673
    MyGreatIdea
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    Always feels good when you get confirmation that the people you are already dealing with, are the best option.

    Every year I ring around to see if I can get a better insurance deal. And every year I rediscover that I’m already getting the best deal. Never hurts to keep looking though.

    Wendy :)

    #1111674
    Mortgages In Focus
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    I am just curious why did you not go to a broker? They would have answers for you within a few days. They do all the work for you.

    Just saying…

    All the best.

    #1111675
    Cjay
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    It is sad when a four day turn around is considered good within Branch-Customer relations.

    Good to hear the right result was achieved for your lending goals however.

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