Finance and Economics
The Importance of Cash Flow
The Impact of Online Reputation Management in the Business Field
A small business will only grow when you let go
Reasons Why Companies Should Invest in Background Checks
Is your business prepared for the unexpected?
Your Mission is to Know Why Your Organization Exists! Do You Accept?
Topshop no longer want me as a customer – and that’s not a bad thing
Could the cloud save your company money?
Retiring Early
How to Plan your Investment Portfolio
The future of business communication through technology tools
Do You Need A Digital Detox?
Is your Business Creating a Great Impression
How to Recruit Your Next Sales Star
Who’s on your team of committed advisors?
Should You have a Close Friend at Work?
PropertyTutors appoints new General Manager
Think Big, Work Smart: 5 Technologies to Increase Team Productivity
How Safe are Your Bank Deposits?
Have Your Say on Retirement Income Policy
How to Lower the Cost of Your ACC Premiums
Business coaches – are they worth it?
The Flight from Bonds
When Helpers Are Leaders – Three Lessons from the Boston Marathon and UNH
Why it’s worth renegotiating with your bank
How many of us, once we’ve put a loan/mortgage in place, just keep paying the loan off, (unless it’s interest only – but read on, this applies to you too!), and think no more of it. Sometimes we never revisit these arrangements to check whether they are as good as we first thought.

It’s not always safe to assume your bank is giving you the best deal it can. Often your banking arrangements are built up over time. A loan for this piece of equipment, another loan a few years later for more equipment, an overdraft facility … you get the picture.

How many different assets secure these loans? Maybe you’ve given an unlimited personal guarantee, or the bank has just taken wholesale security – “all present and future assets”. Wow – that covers a lot! Before you know it the bank holds $1,500,000 security for a total of $250,000 loans!

Are your loans flexible enough to work for you and your business? Are you hamstrung by the way they are set up? Are they working AGAINST your business rather than FOR your business? Sometimes circumstances change and what worked before doesn’t work now.

Then there’s the interest question. Just how much interest are you paying and is there a better way to structure your loans to keep interest to a minimum? One thing’s for sure – it’s unlikely your banker is going to come knocking on your door to offer you a better deal!

Don’t get complacent about your financial arrangements. If they’re not working for you, or you’re not sure, it’s worth checking out some different options. Renegotiating with your bank can lead to huge benefits for you and your company.
This client found a new bank instead of renegotiating with his old one!

Max had a good relationship with his bank. He had been banking with the same bank for 23 years, and they usually agreed to whatever loans he wanted. Max needed another $180,000 to replace plant and equipment. The bank was happy to loan him the money at 12.5% interest (which appeared to be standard industry rates at the time).

A finance salesman from another bank had a look at the situation and realised -

Max’s company had around $800,000 owing on plant and equipment at various rates ranging from 11% to 14.25%.
A facility fee had been charged for each loan and the bank held security over the specific pieces of equipment.
The bank had collateral security over the company’s land and buildings worth an estimated $6,000,000, with no mortgage on it.

The new bank -

Loaned Max the $800,000 plus the $180,000 for the new equipment.
Set up a credit line of another $1,000,000 Max could draw down any time with no documentation fee.
Set the interest rate at 6.95% for the entire amount, because they secured it over the land.

Max understands now that the old bank was not on his side at all – they were on their own side!

If you’d like help renegotiating with your bank, or just what to find out more – click here.
Business with Australia: A right time?
Business with Australia: homework
Bring Home Your Aussie Super
Psychometric Assessment – It’s not so daunting!
Business with Australia: Culture clash
Searching for the Epiphany Moment
Are your affairs in a mess?
Leadership Lessons from July 4th – 237 Years Ago
5 Ways Your Logo Impacts Your Social Presence
Business with Australia: long distance relationship
Can You Adjust Your Leadership to the Situation?
Managing conflict: How MBTI helps me create team harmony
How to Incorporate a Business: Choosing a State for Incorporation
Practicing without attachment encourages collaborative teamwork
Property Investment for Retirees
Online Reputation Management For New Zealand Business
5 Ways to Improve Local SEO and Drive Sales
Fighting over the Family Fortune
KiwiSaver Options for Retirees
Conducting a Redundancy Process
When and How to Use a Financial Adviser
Value Reputation and New Zealand Business
Buying Property with a Low Deposit
When is the best time to rebrand your business? Probably not Monday
A Few Leadership Lessons from the Coast Guard’s Eagle
Why it’s worth renegotiating with your bank
Is Your Team Damaging Your Business Reputation?
Doing Business in China 5 Kiwi Tips
Using Deviant Behavior to Change Outcomes
How to be Financially Secure
Orcon needs to improve its customer service
The Masters – Watch-out for Leaders Who Pursue Perfection
Frugality is not the Key to Riches
Marketing and the maturing manufacturer
The Three Reasons J.C. Penney will not survive
Have you ever lied or deceived by omission?
How Much Should You Care About Broken Processes?
Avoiding Disaster with House Insurance
The Pitfalls of Overseas Investments
Awesome Team Icebreakers Business Meetings
Trial Periods – the first 90 days
Two Lessons on How Business and Culture Impact Gender Motivation
How to get your employees to do what you want them to
Record Lows for Mortgage Interest Rates
The Happiest Man in the World
Turn Knowledge into Action
The most common business mistakes and how to embrace them
Business with Australia: Play down the Kiwi bit
Are Business Cards Still a Necessity?
Engage Your Team – Dream On!
Proposals have a special place in the mind of many sales people
Visit Statistics