Banks & supermarkets

It must be said that I’m not a huge fan of supermarkets, and news from the last 18 months has┬áprovided plenty of reasons to avoid them. So why don’t I? Because, like the vast majority of us, whilst not embracing them, I do enjoy the simple convenience and practicality that they offer. For a general weekly shop, quite simply they offer most of what I want, at a not unreasonable price. And that is really where it begins and ends.

So what if I’m cooking a special meal, and said supermarket doesn’t stock a vital but specialist ingredient? What if there is a shelf for it, but but that shelf is empty? What do I do now?

Well, first and foremost – what I don’t do – I don’t automatically assume that the recipe is wrong because the supermarket doesn’t stock it, nor do I consider myself stupid for trying. (over-optimistic maybe, but never stupid).

So what is my next step?

1. I can ask an attendant. If I’m more than averagely lucky I will get one who is engaged and knowledgeable, who understands my requirements and can suggest alternatives, or even direct me to a specialist retailer who is likely to stock it. At the other extreme I will get someone who neither knows nor cares – who will vaguely point at the appropriate aisle and suggest I look there before taking their leave.

2. I can use my own skills and knowledge to either choose an alternative or to go to a shopping area where I can find what I want.

3. I can go away, do some research and get exactly what I am looking for.

There are many variables which will dictate which of these options is best on any occasion.

And now the point – when it comes to business funding, banks are effectively supermarkets. They offer a range of products to suit a wide range of needs and circumstances. Sometimes that will have a specialist branch or division to meet a specific need.

The person you speak with might be informed or helpful, or might trot out ‘computers says no‘.

They might be ‘out of stock’, meaning that at that moment they don’t have a product to suit you or your circumstances might simply be outside their remit.

It is no different to supermarket shopping, you can select an alternative (if there is one), you can go somewhere else, or you can go away and do some research.

Above all, being declined by a bank doesn’t make you wrong or stupid, it simply means that you were looking in the wrong store!

Funding Portal has access to as many as 200 alternative lending sources and is uniquely placed to help you find the right one for your specific needs.