Go Dad!

My Dad works for PNC Bank, whom today just bought National City Bank. So PNC is now the 5th largest bank in the US! My Dad is the senior vice president of business banking at PNC and just last week was quoted in an article in Smart Money. I will post the link below for all of you that are actually interested in this type of thing!

Here is what my Dad said, (The article is titled, Starting Up: Improve Your Chances of Landing a Loan)

These days, banks not only want to see that a potential borrower has a solid credit score, they want to review their entire package — from business plans to balance sheets, explains Jordan Peterson, senior vice president of business banking at PNC in Pittsburgh. Paperwork should be up to date, an experienced management team needs to be in place and there should be proof that customers are paying on time and debts are under control.

Already having an established banking relationship with a lender will help your chances of getting a loan, says Peterson. (Let me know if you need a small business loan, I have connections!!!)

http://www.smsmallbiz.com/capital/Starting_Up_Better_Your_Chances_of_Landing_a_Business_Loan_.html