Commercial Banker Offers Insider Tips to Small Businesses

Arlington, MA: Commercial bank lenders are an integral part of the United States’ small business economy. Unfortunately, however, the US Small Business Administration reports that the number of commercial banks has declined by 25% over the past 10 years, making commercial lending a cut throat market full of stiff competition. Statistics also show that the inability to secure financing is among the top five reasons small businesses fail.

Commercial banker and author, Neil Berdiev offers inside advice and “tricks of the trade” in his latest book, Loan Financing for Small Business Owners. Berdiev taps into many years of commercial lending expertise to give small business owners an edge in the borrowing process.

“After reading the book, many lenders commented that this is the kind of book we would like our borrowers to read before they approach us,” reports Berdiev who has participated in the analysis and approval of over $50 million in loans to small businesses.

According to the SBA, “borrowing money is one of the most common sources of funding for a small business, but obtaining a loan isn't always easy. Before you approach your banker for a loan, it is a good idea to understand as much as you can about the factors the bank will evaluate when they consider making you a loan.”

The Loan Financing Guide is a step-by-step guide that takes small business owners through the process of loan financing. It is written in a format that can be understood by people with or without previous financial or borrowing experience. The book includes information on discovering the need for financing and successful loan approval, how to ensure loan repayment, how to develop mutually beneficial lending relationships, and how companies can develop a plan to succeed even if they fail to obtain a loan.

In 1997, Berdiev started his career in brokerage service with Fidelity Investments. Since then, he has worked for several commercial lending institutions, including FleetBoston Financial, Cambridge Trust Company and Citizens Financial. Berdiev is a columnist for Inc.com and Good News Network. He is also a contributor to the Risk Management Association (RMA) Journal and other professional publications. In addition, he teaches seminars on various topics related to small business financing.

“Securing a small business loan can often be the most difficult and stressful part of operating a business,” advises Berdiev. “I suggest that you obtain as much information as possible to improve your chances of loan approval and loan repayment.

For more information on the Loan Financing Guide for Small Business Owners, visit www.loanfinancingguide.com.

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Berdiev will be presenting “How to Prepare a Powerful Small Business Loan Request” at the New York Public Library in NYC, NY on June 1, 2006 from 5:00pm to 7:30pm EST. He will also be speaking at the Boston Public Library in Boston, MA presenting “Financing Your Small Business” on June 13, 2006 from 6:00pm to 8:00pm EST.