Friday Q&A with Brian Kirlin: Listening to the Whole Story

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Friday Q&A with Brian Kirlin: Listening to the Whole Story

Each week, we’ll interview one of our experienced Finance Officers for a brief question and answer session about something interesting from the week, along with tips and tricks to make your finance process easier, and their unique perspective on the industries and customers we work with.

This week, we caught up with Brian Kirlin in our Sioux Falls office who worked with a customer with a non-traditional profile.


Q: In a previous Q&A, we talked about the fact that we have built a business on helping customers with non-traditional profiles. Was that the case here?

A: Yes, I would certainly say that this customer fits that mold.

Q: What about this customer would have caused other lenders to look the other way?

A: There were actually multiple aspects of the overall credit package which might cause other lenders to stumble. The customer had lots of industry experience but had only had a business of his own for a limited time. The equipment was very soft collateral. In addition, the equipment is rented out and would be moved around from location to location. Finally, the company had made a lot of investments recently and was thus showing a loss on their books.

Q: Did this make the loan process any longer than what you would consider “normal”?

A: No, not really. We were able to wrap up an approval in less than a day after receiving the full package, and we moved as fast as the customer and vendor could provide information needed for closing on the financing.

Q: How were we able to help this customer in the end?

A: We listened to his whole story and were able to get comfortable with his overall situation based on his experience, connections, understanding of the industry, and equipment and the like.

Q: What advice do you have for other customers who have a similar profile?

A: When you have an opportunity to grow and expand your business that truly makes sense, find someone who will actually listen to your story and will consider all strengths and weaknesses in an effort to help you overcome any potential roadblocks or shortcomings. Then, share as much detail as you can with them to help them understand why you are a good risk.  If you don’t already have a relationship with someone like this, please give us a call!

Next week we will check in with another finance officer to continue to provide you with insight in to our processes. Stay up to date and learn more from our valuable resources at www.AmericanEFS.com/The-Bottom-Line