PulsePoints

Don’t worry about having all the answers. In fact, nothing turns lenders off faster than a borrower who thinks they already know everything. Keep an open mind when searching for the funding solution that will best fit your particular needs.

Trust your lender’s expertise. If you can’t, then the best option for you is to find another lender.

Lenders generally welcome questions. When checking out a lender, take the same sort of approach a personnel director might take when interviewing and hiring new employees.

Don’t be afraid to ask questions, and don’t be afraid to seem like you’re prying. A lender should be an open book. Ask about the number and type of deals the lender has closed, and about the amount of time various funding options might take to process in the current economic cycle. Also, ask your potential lender to explain the differences between quotes and final commitments, and they should be ready to candidly field questions related to timing or execution. Remember, keep an open mind, but expect your lender to be open with you.