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Small-business owners on the hunt for business-friendly bankers.(The Orange County Register)
SANTA ANA, Calif. _ Monty Ihde, president of American Compaction Equipment in San Juan Capistrano, had kept his business accounts at Union Bank for years.
But when he bought the building that housed his $4 million company, a manufacturer of wheels for earth-compaction machinery, Union Bank wouldn't make the loan.
Wells Fargo did, thereby winning all of Ihde's business and personal bank accounts, lines of credit and loans.
Talk to bankers and they'll tell you how much they want to work with small companies. It's a huge market. If California's businesses with less than $10 million in annual revenue formed a separate nation, it would have the 11th-largest economy in the world, says Todd Hollander, head of business banking at Wells Fargo.
Talk to business owners, however, and each has a tale of aggravation or disappointment with some bank.
Why the disconnect?
"Bankers don't do as good a job as they could explaining expectations and declinations," says Ken Cosgrove, a 30-year industry veteran and now chairman of Premier ...
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