Pulling that off could literally change your entire business Job Function Email List. Alan Blair The first thing that has to be said about backup Job Function Email List plans is that there is a definition of a backup plan that your bank uses for its purposes, and a quite different definition Job Function Email List of a backup plan that you'll want to use for your purposes. Trust me - you don't want to experience the bank's "backup plan". When a bank talks backup plans, it usually means (at least as a first step) your banking relationship being transferred to "Credit & Asset Job Function Email List Management" or some equally ominous sounding department that is typically interested in only one thing - getting the bank's money back as quickly as possible and Job Function Email List then sending you on your not-so-merry way.
That's the bank's idea of a backup plan - commonly referred to in Job Function Email List the industry as the "secondary exit" when Job Function Email List described in credit papers. As you may have already guessed, this secondary exit usually means selling off your assets and placing your business into liquidation. The first question that the bank asks when Job Function Email List considering an application for credit is "Is there an underlying, viable, sustainable business here?"
Or, to put it into terms that Job Function Email List we have been using throughout this series; "Is this business bankable?" In answering these questions, a great deal of Job Function Email List analysis is done and your business is assigned a "PD" or Probability of Default based on the estimated ongoing viability of the business. The PD, expressed as a percentage, is an estimation of the likelihood that you will default on your loans within the next 12 months. If you default, Job Function Email List the bank has already calculated what they need to know about what to expect from their "backup plan".