The Enemy Can Be Your Friend.
Bankers are the enemy, aren’t they?
Generally that is the view we take. Most bankers do not have any interest in the client as a person. You are a number. If you owe 1 million dollars to the banker working on your SBA loan, you are $800,000.
That is the reason Second Wind needs to be involved. We are the face that has no dollar sign. The banker cannot assign a value or quantify us, we are not a guarantor.
A good portion of our effectiveness with any type of loan is humanizing the client. If you can get the banker to refer to the client by first name, and chat with you about non-loan related topics that you can bring the client into as a person, you have a good start toward getting the banker to work in the client’s best interest.
Today I had the biggest success of this process of my career with Second Wind. The banker involved had an issue with a previous client and we were worried he would try to take it out on this next workout, but instead we had a candid conversation and I humanized my client for him. He understood the pain and loss involved in a family losing the only source of income. He understood what it means to put your retirement into a dream and have it come crashing down despite everything you tried.
Today after having a banker give up money that is owed to him… that’s right. The banker told me that he would not take a portion of money he had every right to so the client would have funds to live on in between employment. In addition the conversation went one step further when the banker asked if I could find out what my client did before owning this failed business. He suggested he could reach into his contact base and find a source of employment for my client so he would not be out of work for too long.
To say the least I was stunned. A banker chose to put himself out for the benefit of our client despite having to take a loss on the loan. This is the power of our process, of Don’s strategy. We make the banker’s life easier and in so doing we protect our client and make their enemies into our friends.
