You can build a 7 figure a year business off of enough bank declines. Here’s the script you use to open things up and set a meeting!
Subject: Partnering to Support Local Businesses & Improve Bankability
Dear [Bank Manager's Name],
I hope this message finds you well. My name is [Your Name], and I'm an alternative financing specialist at [Your Company]. I'm reaching out because I believe we have an opportunity to create a win-win situation for your bank, local businesses, and our company.
Key points about our potential partnership:
We specialize in working with businesses that may not currently qualify for traditional bank loans.
Our goal is to help these businesses become more bankable while providing them with the financing they need to grow.
We're proposing a formal referral partnership for applicants you've had to decline.
Benefits for your bank:
Provide an alternative solution for clients you can't currently serve
Potential to recapture these clients once they become bankable
Strengthen relationships with local businesses
No cost or risk to your institution
Our process:
You refer declined applicants to us (with their consent)
We work to find alternative financing solutions
We guide businesses on improving their financial health and credit profiles
When ready, we encourage them to reapply with your bank
I'd love the opportunity to discuss this partnership in more detail. Would you be open to a brief call next week to explore how we might work together to support our local business community?
Thank you for your time and consideration.
Best regards,
[Your Name]
[Your Title]
[Your Company]
[Your Contact Information]