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Numbers that Matter by Evan Bulmer

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CHAPTER 10

Bankers

Friend or Foe? What the Banks Are Looking at and How to Get and Keep Them on Board?

How to Communicate with the Banks?

There is a saying I have picked up over my career that comes to mind as truth when dealing with the banks. “Borrow a million and the bank own you, borrow over 5 million and you own the bank.”

At the heart of this anecdote that someone will try out around the boardroom table has an element of truth. That truth is you need to understand when you have leverage with the bank and when the bank has leverage over you. Let’s take a look at how banks work, I am speaking purely from a business commercial debt point of view, I am not talking home loan lending. On the one hand you have bank managers and the bank’s brokers ...

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