By David Munro (auth.)
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Extra info for A Guide to SME Financing
More on this topic when we discuss the mechanics of the lending process in the next chapter. Accordingly, credit scoring is a feature of the methodology this Guide recommends. 10 Site Visit A site visit is an integral part of any credit appraisal process. ; confirmation that premises are clean and attractive, machinery well-maintained, etc. The Site Visit Checklist provides a more complete list of items to note and record during the site visit. Please refer to Appendix IV. Let’s now return to the Five C’s of Credit and see where we stand with respect to the credit analysis process as outlined above: Character; Condition; Capacity; Cash; Collateral.
Borrower Agrees to Terms and Submits Documentation 4. 1 process 2. If Credit Score Positive, Application is Completed and Passed to Loan Production Unit 3. 3. Each element of the loan application, analysis, and approval process will be discussed in greater detail in succeeding chapters. Management Lack of professional management is a commonly cited risk factor in dealing with SMEs. 1057/9781137373786 A Guide to SME Financing “one person handles everything” management approach, and in the event something happens to him rendering him incapable of carrying on.
Non-Professional Management SMEs are often family firms, run by the founder. Staff (whether family members or not) may lack functional titles, and generally do not possess experience outside the firm itself. 1 shows how these reasonable perceptions may be countered or ameliorated and their associated risks mitigated. 1057/9781137373786 All of the risk factors described above Solution Application/analysis form (Analysis of available data and projection); Credit Scoring; account turnover analysis Cash-flow lending; collateral as security and not source of repayment; taking whatever collateral is available Semi-automated application, analysis and approval process; templatedriven solutions; no follow-up visits Credit scoring; credit reports; enterprise track record; initial interview; trained bank staff; Key Man Insurance; short loan tenor Well-trained credit staff A Guide to SME Financing Let’s now look at the proposed solutions one by one.