Bank CPA/CFO Explains Why Lenders Aren’t Lending [VIDEO]
You can get a loan… if you don’t need it.
But if your business needs credit these days, banks would rather keep their money in the vault, according to Sara Mikuta, CPA, CFO of Leaders Bank, Oak Brook, Ill., and 2010 chair of the Illinois CPA Society.
“I always worry that the people who need money now are the ones you don’t want to loan to,” Mikuta told us the state society’s annual trade show. “Until the economy picks up there’s just not a whole lot of need.”
With borrowers under economic pressure and banks still chary, CPAs have an opportunity in producing the kind of financial statements that banks can have confidence in. That, she says, could benefit well-positioned CPA firms.
Mikuta is blogging about her year in office here.
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