How to influence your bank manager and get the money

Thursday 31 July, 2014 | Tags: banks, raising capital, interest rates;

With finance being a key component to business survival and a potential significant factor of cash consumption, increasing your access to finance and minimising its cost is essential to any business.

CCIQ partners Wide Bay Australia Ltd share a banker’s view on how business owners can influence the bank’s appetite to lend to them and more importantly, how business owners can reduce the cost of such capital.

A must see presentation if you want to know the things you can influence to reduce your finance cost within your business.

The Wide Bay Australia presentation at various events on the Sunshine Coast and Wide Bay region include information about:

•             Cost savings – ways to reduce your interest rate

•             Explanation as to why commercial interest rates are priced how they are

•             Regulatory capital framework

•             Assessing capital requirements

•             Risk weighting/ probability of default

•             Security & capital

Interest rates are at an all-time low and banks are offering finance like it was Monopoly money.

But many Queensland small business owners are still finding it difficult to get deals done or are being knocked back on loan applications.

CCIQ said some members had voiced their concerns despite a seemingly endless cash flow from the banks.

CCIQ Sunshine Coast and Wide Bay Regional Manager Kimberley Lynch said small business owners had complained they could not access capital or had been rejected for funding because they did not fit the “computer model for their industry”.

“It can be difficult to navigate through which finance options are best for your business and how to improve your chances of having your finance application approved,” Ms Lynch said.

CCIQ has stepped in to help local SMEs understand finance and influence the outcome of finance applications.

In conjunction with Wide Bay Australia - Queensland’s largest building society – CCIQ is running a series of business breakfast seminars in the regions to make life simpler.

They will be held in Mackay, Rockhampton, Gladstone, Maryborough, Maroochydore, Gympie and Bundaberg in August and September.

“Businesses might need funding for a variety of reasons: to invest in new technology, to acquire a business or simply to grow their current operations,” Ms Lynch said.

“We want business owners and decision makers to attend an event, covering how to access free data which can be used to gain an in depth understanding of the local economy and demographics, how to utilise this information to build the business case when applying for finance.

“The event will also cover reasons why banks decline finance applications, what banks look for when assessing finance applications and how to prepare a strong business case when applying for finance by understanding your local market.

“They will learn what documents are required by the banks to obtain financing and how it all ties together with their risk assessment and interest rate.

“There will also be an open forum discussion focusing on key topics and questions important to small business, additionally presenters will be addressing issues and concerns raised by the audience.”

Ms Lynch said the event would give valuable insights and advice into dealing with banks and financial institutions and provide an opportunity to discuss ideas with other like-minded business owners.

“You may already be on your way to obtaining finance or considering your options and just want to know you’re on the right track,” she said.

Guest speakers at the first event in Mackay on August 11 include Jim Myhill, account manager from .id, who will demonstrate accessing the free local economy data; and Wide Bay Australia banking manager Angus Griffith.

For more information on the breakfast series, check out the Events page at the CCIQ website:


Mackay – Monday 11 August


Rockhampton – Tuesday 12 August


Gladstone – Wednesday 13 August


Maryborough – Thursday 14 August


Sunshine Coast – Friday 15 August


Gympie – Tuesday 2 September


Bundaberg – Wednesday 3 September


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