Want banks to heed your need for funding? Be transparent
Fundraising and factors that inform a bank’s decision on whether to extend it is one that can keep treasurers, particularly for smaller firms, on tenterhooks. Companies can greatly increase their chances of success by providing thorough financial information to banks and adopting an open, transparent approach, a credit data expert told CT.
Banks have been the target of some of the heaviest regulation in the aftermath of the financial crisis of 2008. Banks have had to adjust internal mechanisms and processes, such as those for predicting losses, to align with regulators’ directives.
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