Ask an Expert: Loan tips from 4 lenders

Loan tips from 4 lenders

Tips and advice from four lenders on how to make the loan application process quick, effective and efficient as possible.

 

For producers applying for a new loan, what tips or advice can you provide to make the process as quick, effective and successful as possible?

 

Create realistic projections

Joanne Prysunka, Manager, Business Banking Centre
Mountain View Credit Union, Olds, Alberta

Show you’ve considered the average, best and worst-case scenarios. If significant changes are planned, have a detailed business plan. Identify key risks and how you intend to manage them. We’re committed to your success, and understanding the entire picture helps to quickly approve appropriately structured credit.

 

Have decision-makers present

Aimée Basset, Senior Relationship Manager
Farm Credit Canada, Humboldt, Sask.

When meeting with clients, I like to meet with everyone involved in the operation. If it’s a husband and wife partnership, I want to meet with both. If there’s a succession plan in place, include the next generation. Everyone plays a specific role.

 

Show us your operation

Dale Snider, Senior Relationship Manager, Agribusiness and Agri-Food
Farm Credit Canada, Geulph, Ont.

For agri-food and agribusiness companies: Give your FCC Relationship Manager the chance to meet with the CFO and CEO (if available), and tour the main site (if more than one site, details can be determined). It will help us add even more value to the relationship.

 

Share your vision

Philippe Martel, Senior Relationship Manager
Farm Credit Canada, Drummondville, Que.

Identify your overall vision and goals. It’s fundamental because it allows you to determine the key objectives and steps to be accomplished over time in order to build the business you want. Take time to talk things over with your Relationship Manager and lay the foundation of trust.

Working with your FCC team

Let's get started!

Find everything you need to get the most from FCC.


Related

How will you spend your retirement years?

How will you spend your retirement years?

How will you spend your retirement years?

How will you spend your retirement years?

Not everyone wants the same things when they retire. It’s important to consider your retirement goals and what you need to do to fund them.

Time to switch from variable to fixed rates?

Time to switch from variable to fixed rates?

Time to switch from variable to fixed rates?

Time to switch from variable to fixed rates?

Variable-rate loans can be risky. Calculate your risk tolerance to find out if moving to a fixed interest rate product is for you.

Get your ducks in a row for a loan application

Get your ducks in a row for a loan application

Get your ducks in a row for a loan application

Get your ducks in a row for a loan application

It’s important to be prepared when applying for a loan. Read on for tips to prepare yourself for the borrowing process.

2 questions to improve your farm management

2 questions to improve your farm management

2 questions to improve your farm management

2 questions to improve your farm management

Asking “What if?” and “Says who?” can help identify business risks and opportunities.

Add a Comment
Add a Comment Close
characters remaining
There are no comments.