- Joined
- Apr 21, 2008
- Messages
- 200
Rep Bank
$280
$280
User Power: 8%
Good news! I survived my first two years in business for myself, and am actually doing okay right now. Some new pricing packages have really saved me in this economy.
When I purchased the business, I had to pay a higher interest rate for the loan. Now that I’ve been in business for two years, I thought I would look at a new business loan to replace the old one at a much better interest rate. Not to mention, that would significantly improve my cashflow, since I’ve paid down the loan over the years.
I have the income and perfect credit, so in theory, banks should be willing to talk to me. My own bank referred me to their “work out†department for proactive borrowers to see if we could restructure the loan payments to be more favorable. They said they’d get back to me in 7-10 days.
To be honest, while that would be an ideal solution, they seemed rather disinterested in helping me out. Not to mention, I’d rather be proactive and seek offers from other banks.
Is this even possible? Or are the credit markets still too frozen for even someone with perfect credit like me? If not, then where can I find a bank that will take me more seriously? I’d rather have a referral, instead of relying on google.
Thanks a lot.
When I purchased the business, I had to pay a higher interest rate for the loan. Now that I’ve been in business for two years, I thought I would look at a new business loan to replace the old one at a much better interest rate. Not to mention, that would significantly improve my cashflow, since I’ve paid down the loan over the years.
I have the income and perfect credit, so in theory, banks should be willing to talk to me. My own bank referred me to their “work out†department for proactive borrowers to see if we could restructure the loan payments to be more favorable. They said they’d get back to me in 7-10 days.
To be honest, while that would be an ideal solution, they seemed rather disinterested in helping me out. Not to mention, I’d rather be proactive and seek offers from other banks.
Is this even possible? Or are the credit markets still too frozen for even someone with perfect credit like me? If not, then where can I find a bank that will take me more seriously? I’d rather have a referral, instead of relying on google.
Thanks a lot.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
