Lending rules4 of 8Customers who have typically done business with a community bank could face the biggest shock when their bank is acquired. The process will be different when they want to borrow money or refinance, but the changes will be particularly evident if they need to restructure a loan when cash flow problems hit."A community bank is a lot more flexible," says Paul G. Merski, senior vice president of the Independent Community Bankers of America. "It can restructure the terms of the loan with you. It's different when you're dealing with a corporate policy that comes out of New York." Related Articles:Choosing a community bankSafe havens for your savingsBank accounts gone wildRelated Links:3 ways to boost your net worthCheck your bank's safetyCalculate the effects of inflation advertisement
Customers who have typically done business with a community bank could face the biggest shock when their bank is acquired. The process will be different when they want to borrow money or refinance, but the changes will be particularly evident if they need to restructure a loan when cash flow problems hit.
"A community bank is a lot more flexible," says Paul G. Merski, senior vice president of the Independent Community Bankers of America. "It can restructure the terms of the loan with you. It's different when you're dealing with a corporate policy that comes out of New York."
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