Know what you’re working with
Check your credit. Visit annualcreditreport.com or experian.com. Not only is it great to have an idea of where you stand before you start, but you may find issues that need to be addressed. It’s quite possible to find an error on your account that can and should be corrected for accuracy. And if you’ve been penalized for a late payment, you can work with a nonprofit credit counseling or debt management organization to help you even further.
It’s all in the details
Oftentimes, business customers aren’t prepared to provide detailed financial information, slowing down their access to credit during the application process. Banks aren’t looking to prolong the loan process or play a game of “gotcha” when finding financial solutions. It’s imperative to present your full picture — how much of a loan do you want, what are you going to use it for, and how will your business repay the loan? That includes ensuring all documentation is submitted together at the same time.
More options than you might think
There are all kinds of credit options available that could potentially be a fit for you and your business. From agriculture to construction to health care, Wintrust has numerous specialty groups. Our general business lending department alone offers fully customizable lines of credit, term loans, commercial real estate loans, and a whole team dedicated to Small Business (SBA) loans. And for businesses with smaller loan requests, we also offer Easy Access products with loans and lines of credit up to $250,000.
For businesses big and small, we’re here for our customers. “Businesses can grow with us,” explains Jolie Horen, executive vice president and head of business banking at Wintrust. “We can handle the very small business and the very large companies — we have expertise in so many different areas of business.”
It’s different here
“What really sets us apart is the ability to find somebody who can help you. With a lot of our competitors, it’s an 800-number that you’re calling — you’re not talking to the same person,” says Horen. “If you’re looking for a loan at Wintrust, you’re assigned a manager that gets to know your business, gets to know you, and works to understand your needs, and that doesn’t happen with a lot of our competition until you’re a much larger business.”
With a strategic plan and the right financial tools, Wintrust helps small businesses increase capacity. Clients have been pleasantly surprised to find flexible solutions that vary from the generic financing packages typically found at other institutions.
Looking for ways to help your business grow? Reach out to our team to learn how we can partner with you.
To hear from Wintrust customers about how the right banking partner makes all the difference, visit wintrust.com/success.
