All Banks––Large, Small or Local––React The Same Way.

I am frequently asked if we have done a workout with “my bank”, and most frequently we have. Typically, the major national or regional banks are great customers of ours. Bank of America, Wachovia, Wells Fargo, CIT, Banco Popular, First International (the UPS bank) and the list goes on and on. However, we have done as many successful workouts with smaller regional banks and, of course, local banks. We have been successfully working out defaulted loans for over thirty years, so over the long-haul we have interacted with hundreds of banks, all sizes, all sorts, everywhere in the country, and, I must add, very successfully.

However, in most every conversation I have I am asked if we have done a workout with the business owner’s bank. Most of the time the answer is “yes”, but certainly there are many times where we are talking to a bank we have never done a workout with before. This tends to get people nervous, as if their bank is different from all the others.

The simple response is that all banks react the same. All banks have the same issues, all banks accept our strategies as being the best-case option in a lousy situation. We resolve every workout issue with every bank we confront because our strategies are the best option for the bank and satisfy our clients’ needs as well. What a perfect win-win situation–what’s best for the bank and what satisfies our clients needs as well.

This is why we are so successful in performing our strategies, not because we are the best negotiators in the world (although we are pretty good at what we do) but because we deeply understand what makes the banks tick and why they respond the way they do. We have put together strategies that support the banks’ needs while simultaneously reaching our stated goals for our clients, stripping off the debt from the business assets and reducing the personal guaranty to pennies on the dollar while also satisfying the banks’ needs and requirements. It’s the same with the SBA guaranty to the bank. We understand the FDIC review requirements, the bank rules and regulations, and the SBA rules, standards and regulations, and we deliver it all to them, perfectly. We solve their issues and problems while also supporting our clients’ needs, wishes and wants. We understand exactly what they want, need and require, and we deliver it to them in perfect form. It’s a perfect situation, and it is why we succeed all the time.

So fret not, if we have never done a workout with your bank, it makes little difference. They all react the same way. We will be successful no matter what the bank’s name.