I read an article today in the Orange County Register by Jan Normandetailing how a bank changed the line of credit on a business for apparently no reason. Each month it seems at least one of our members in one of our four (4) CEO PEER GROUPS is in a similar situation.
I have many associates and even some friends who are in banking and they are good, hard working people who are motivated to help their clients. It seems very unfortunate that good, long standing businesses are being put at risk by lending decisions which seem to have little to do with traditional risk models.
I would like to hear from business owners who have had a recent relationship change with their bank. Maybe your line of credit has been reduced or worse revoked. Maybe your terms have been changed and you do not feel it was warranted.
Credit is the lifeblood of business especially smaller businesses and I feel some banks are not acting in a rationale manner which is having a negative impact on healthly, well run firms