By David Munro (auth.)
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Additional info for A Guide to SME Financing
Each element of the loan application, analysis, and approval process will be discussed in greater detail in succeeding chapters. Management Lack of professional management is a commonly cited risk factor in dealing with SMEs. 1057/9781137373786 A Guide to SME Financing “one person handles everything” management approach, and in the event something happens to him rendering him incapable of carrying on. These are reasonable concerns. The credit scoring exercise contains questions on management, managers’ backgrounds, succession planning, etc, which are useful in rating managerial capability.
In addition to these considerations, I would add “Industry Risk” as a concern that should be addressed by the credit analysis—the overall industry, competitive landscape, susceptibility to substitution or obsolescence, price sensitivity, danger of governmental regulation, taxes, or other duties making the enterprise’s life difficult, and exposure to a limited number of buyers or suppliers. 1057/9781137373786 A Guide to SME Financing form that are relevant. The Loan Officer and credit review officers (Loan Production Unit or elsewhere) are where this critical analytical perspective might most appropriately reside.
Each element will be discussed in detail in the chapters to follow. Credit analysis Bankers, especially American bankers, have become the bêtes noires of commentators and pundits worldwide since the onset in 2008 of what a number of economists call “the Great Recession,” the global collapse of banking giants and the most significant setback to the world economy since the Great Depression of the 1930s. Documentaries and docudramas such as “Inside Job” and “Too Big to Fail” have introduced viewers all over the world to the self-evident chicanery and outright fraud perpetrated on unwitting investors by leading banking houses in the United States and Europe.