Banks will delay or reject your loan application if you don't know this little secret

Dealing with banks can be a drag. They can be annoying. They can make you hate your life.

The most annoying part is not when they tell you NO. The most annoying is when they delay you for days and weeks, only to tell you NO in the end.

Most people think that protocols and due process is what make these things happen. However, they forget that the protocol and due process were designed and maintained by someone. I know people who got money out of banks where the bank staffs are the ones going to fill out all the forms for them and they will come back to sign it later.

Here is the big question:

Is the bank doing you a favour by giving you money or you are doing the bank a favour by taking their money?

As long as a bank has the notion that it is doing you a favour by giving you money, they will play games with you, delay and tell you NO as they wish. But the moment you give them the faintest idea that they are at your mercy, they chase after you.

This leads me to the big secret of dealing with banks. When you are going for a meeting with banks:

Always LOOK Rich

That is the big secret. Look rich. You don’t have to be rich, but you like to look rich. Bankers love to give money to people who look like they don’t need it. But the moment you look like you need it, they will shy away from you.

Dress like a rich person. Arrive at the bank in a good car. If possible, go with 1 or 2 high profile people. If not, you can go with people that look like they are high profile. Chin up. Talk like you own the bank (in your tone). And be ready to walk away if they don’t want to deal.

The moment you get a little sign that they may not be able to give you money, be ready to walk out. Reject them before they delay or tell you NO. All bankers are the same. They look at these things. The only exception is if you have an account in that bank. Then they will look at your account as a measure of how rich you are.

This is the first tip for 2020, year of the money. When you go to meet with the bank, look rich.

- David