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may not really want to make the loan, and ‘Oh, our regulator won’t let me do that. ’ So some of that happens. ”Regulators at the forum emphasized the need to balance the regulatory process to ensure that prudent loans are made, while minimizing the potential for examiner or banker overreaction. They acknowledged that instances of conflicting messages should be minimized and discussed the process for consistently communicating policies from Washington, DC, to field examiners. They also indicated that feedback mechanisms are available for bankers to voice concerns about examiner application of policies through agency management chains and ombudsmen. For example, Federal Reserve Chairman Bernanke noted, “he Federal Reserve’s had an ombudsman since 1995…f you’re a bank and you think you’re not getting fair treatment and you’re worried for some reason about complaining to your examiner, then call Washington and we’ll respond to that.

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”Regulators at the forum emphasized the need to balance the regulatory process to ensure that prudent loans are made, while minimizing the potential for examiner or banker overreaction.

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does a business loan go on your personal credit Myth 2: "We’ve never had a loss on our business loan portfolio". Some business lending evangelists claim a perfect record making business loans. However, peel back the onion and you find, it’s a matter of the "definition" of loss. A high profile foreclosure that results in extended families losing their homes generates a loss to the institution and community a loss of members, credibility, and the wages paid to employees to fix the problems. Responsible lenders stay humble and strive for deals that provide benefits to both borrower and lender. A business loan portfolio brings risks that need to be managed. Myth 4: "Our membership and the community wants this service and we’ll be ‘swamped’ with business". After launching a program, you may be "swamped" with loan requests most you should deny; even bankers will send you applicants their turn downs or borrowers in trouble. Solid loans take work and "salesmanship" to generate. Many business owners have doubts that a credit union can make business loans. Program execution needs to be expert in order to build credibility.

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Successful business lenders will need access to technology to do their job efficiently, and like mortgage lending, many compliance and member service functions will become automated.

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Chamber of Commerce; Jorge C.

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