Who’s Helping the Borrower? The Advantages of Having a Borrowing Coach

 

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When I look at the borrowing landscape I see the terrain heavily in favor of the lenders.  The banks, insurance companies and Wall Street lenders have deep financial resources and a roster of players with impressive college pedigrees and volumes of experience.

When I look at the borrowing landscape I see the terrain heavily sloped against the borrowers.  The typical personal and business borrower applies for a loan only for major purchases and then only once every several years.

The lenders are in the business of making loans and evaluating credit risk and profitability every business day.  Like any other activity, the more lending is practiced, the more proficient the lender becomes.

The borrower’s skill, knowledge and experience quickly decays after the loan is made.  They will start the next loan near the bottom of the learning curve and have a hard time keeping up with the latest loan trends.

What benefits can a professional borrowing coach bring to your borrowing process?

1.  An advocate for the borrower that is not financially incented by the size of the loan or brand name of the lender.

2.  A resource for the borrower that has many loans under his belt and has current knowledge of lending industry trends.

3.  A dedicated professional who knows where the hidden traps are in the borrowing process.  Avoiding these loan traps can save the borrower time and money.

4.  An impartial sounding board to help devise prudent borrowing strategy before beginning any conversations with lenders.

5.  A trained expert to analyze loan terms from a business perspective and paint an accurate picture of the impact of the loan pricing and terms on your cash flow.

There are many benefits to having an impartial advocate and coach during the borrowing process.  It just makes good financial sense to hire someone to help level the borrowing playing field and potentially spare the cost and disruption of a bad loan.

Have you ever considered hiring someone to coach you during the borrowing decision making and loan origination process?  With what area of borrowing do you need the most help?

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About Michael Shelton

Your Business Coach Facilitating Delegation and Work Group Engagement Michael Shelton has over twenty-five years of business and military accomplishments, including extensive experience with one of the largest, publicly traded real estate investment trusts (REIT). He is a qualified business coach with assignments in cross-functional work group management, strategic planning, unit leadership, joint venture acquisitions, executive education, mentoring, training and merger integration. Michael has accumulated best practices for building committed work groups from more than $4 billion of capital markets transactions and commercial property development. He served as a commissioned officer and helicopter pilot in the U.S. Army, and earned his MBA from The University of Arizona. Michael has served as a major conference panelist and is the author of Cash Flow Rich, Winning Ways to Evaluate and Finance Real Estate. Today, he helps business owners get more work group engagement as President and CEO of Shelton Business Services, LLC in Scottsdale, Arizona. Disclaimer: I don't offer investment, legal or tax advice. Talk to your broker, accountant or lawyer for investment, tax and legal help. I might own stock in the companies I mention on-line. My posts, tweets and other on-line activity are my personal thoughts and don't represent my employer or company.
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