Practice English Speaking&Listening with: SMALL BUSINESS BOOT CAMP EPISODE 6: LOCAL DECISION MAKING

(upbeat music)

- Hi, and welcome to Small Business Boot Camp.

With the boom at Snohomish County,

a lot of business owners are thinking about

smart ways to grow their business

and that may involve taking out a loan.

Today, we're talking about local decision making

and whether that's something that could help you.

Let's look at a real world example

of why local decision making matters.

A local business was applying for a loan

for some property on Camano Island.

Their bank wasn't from around here,

but they wanted an appraisal for the property

that included comparable buildings

within a five mile radius.

Trouble is, this is the five mile radius.

Obviously there are no commercial buildings there.

Well the bank said too bad,

that's part of our standard requirements

for our loan process so the answer is no.

Now a community bank understands the area.

They have a lay of the land

and in some cases, quite literally.

They hold a view is common sense when considering

the radius and that's the advantage for your business.

Local decision making means you're working with bankers

who have a deep knowledge of the area

and they're able to think about your business loan

not only from a numbers perspective,

but from a community perspective, a human perspective.

Another benefit, faster answers.

There's no waiting for someone two time zones away

to make a decision.

Hope that helps as you're thinking about

what your business needs.

Thanks for coming to Boot Camp, see you next time.

(upbeat music)