As a result of diligent networking, today I met with a prospective customer at his place of business. The prospect's reason for mentioning to our mutual friend that he was looking for a new banker was threefold: 1) The desire to do business with a bank where he feels as if he has "a banker", instead of one at which he's just another number; 2) Uncertainty with how his present bank will emerge from a recent acquisition; 3) A preference to boost cash flow by reducing the monthly installment on his owner-occupied commercial real estate, based on the probability that an overall rebound may not happen until 2011.
Based on a "quick & dirty" review of the company's cash flow (very strong) and the principal's personal financial liquidity (impressive), it's clear that this is a bankable deal. When I close this transaction, it will be a profitable new relationship for Crescent Bank, a new customer & future referral source for me, and a victory for the person who sent the referral.
Happy Monday!
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