Page 282 - A Banker Down the Rabbit Hole

Suggestion 2
You should reply without any hesitation and openly when they ask you
details and experiences of your business.

I told him, "You are thorough with your business processes and
communicate so well. It should not be an issue at all."

Suggestion 3
When asked about any problems were ever faced by you in business, you
must narrate your experiences and how you came out of any tumultuous
times you had faced in business.

"If you do this, they will be happy that you do not hide anything from
bankers and will share your problem openly without hiding. If you tell
them that you had no problems in last 10 years of your business, they
would not believe it because at times, every one faces some rough time
in business."

Suggestion 4
In case you have to make some commitment for making payment or
submitting documents, please commit taking one week additional time.
"This would build and increase your credibility when every time you
happen to pay up a week or ten days before the committed date."

Stunning success of the strategy
Within a period of one year, we got total credit lines of SGD 25 million
with 5 banks against SGD 8 million we had with one bank only. We now
had one Singapore local bank, two Indian banks and two foreign banks
who approved our credit lines. There was every reason for achieving the
turnover of SGD 60 million from SGD 28 million in 2 years period looking
to the demand for the product and the goodwill of the company.

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