Small local banks are often more flexible when processing loan applications than large corporations. These smaller banks are locally owned and operated, which helps local economies thrive. The staff of these banks is also less likely to be bureaucratic, and lending officers may be more likely to exercise their judgment.
Community banks are more minor and serve a smaller population, making it possible to focus on building customer relationships. The staff at a bank in Gastonia will be familiar with their customers’ names and businesses, which makes them more likely to approve a loan. Often, community banks have unique programs that only a community bank can offer.
These community banks are more flexible in lending than national banks. They look at a customer’s situation and financial history instead of just their credit score. They are also faster in making a lending … Read more