Credit trap

Banks began to refuse to extend loans to some of our customers, citing ridiculous reasons like: “Sorry, we underwent a restructuring, when transferring data from the department to the department, confusion arose and the new head did not approve of the loan to you” or “Our manager unexpectedly changed, the old manager transferred the cases incorrectly, and we mistakenly closed you overdraft.” And in all cases: “But do not worry, submit a new application, and we will consider it.”

And nothing that can be tied to loans if not the whole business, then at least its significant part? Payment to suppliers, wages, taxes.

According to the Central Bank during the pandemic, banks sharply reduced lending, despite the fact that, according to the instructions of the same Central Bank, they should have significantly increased it. The Central Bank even reduced its rate to banks for lending to small and medium-sized businesses on June 22, 2020 to 2.5% (from 6% in early March 2020).

Banks simply do not want to take risks and look at customers. Who survives will continue to work with, and who does not – sorry, this is a business. Banks are not charitable organizations, but commercial ones. They are puzzled by the reliability and profitability of their investments.

Our recommendation:
If you want to guarantee the sustainability of your business, build your business model without loans or attract them only to improve performance with the ability to refuse credit at any time.

Do not become dependent on banks.

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