SMALL BUSINESS BOOT CAMP EPISODE 6: LOCAL DECISION MAKING

SMALL BUSINESS BOOT CAMP EPISODE 6: LOCAL DECISION MAKING


(upbeat music) – Hi, and welcome to
Small Business Boot Camp. With the boom at Snohomish County, a lot of business owners
are thinking about smart ways to grow their business and that may involve taking out a loan. Today, we’re talking about
local decision making and whether that’s something
that could help you. Let’s look at a real world example of why local decision making matters. A local business was applying for a loan for some property on Camano Island. Their bank wasn’t from around here, but they wanted an
appraisal for the property that included comparable buildings within a five mile radius. Trouble is, this is the five mile radius. Obviously there are no
commercial buildings there. Well the bank said too bad, that’s part of our standard requirements for our loan process so the answer is no. Now a community bank understands the area. They have a lay of the land and in some cases, quite literally. They hold a view is common
sense when considering the radius and that’s the
advantage for your business. Local decision making means
you’re working with bankers who have a deep knowledge of the area and they’re able to think
about your business loan not only from a numbers perspective, but from a community
perspective, a human perspective. Another benefit, faster answers. There’s no waiting for
someone two time zones away to make a decision. Hope that helps as you’re thinking about what your business needs. Thanks for coming to Boot
Camp, see you next time. (upbeat music)

Leave a Reply

Your email address will not be published. Required fields are marked *