His eyes filled with compassion.
“No, I’m sorry. I shouldn’t have asked, but hearing that last name again brought back some very fond memories of your father. We had some great times together.” Breathing deeply and trying to sound more professional, he said, “Okay, how about we get back to the reason you’re here. Fill me in, what is it exactly you’re looking to do?”
“Well, I’m looking to buy a building and I was hoping to get financing here. In the past ten years I’ve done all my banking here and would like to go through this bank to buy the building.” I let out a sigh, hoping I sounded professional.
“I’m sorry; I should have been more specific. I do remember our phone conversations. What I should have asked is how did you make out with what we discussed? Did you ask Brian about co-signing on the loan or maybe you have something you can put up as collateral?”
The conversation was already taking the same direction of circles we went through over the phone.
“I don’t have anything I can use as collateral, and I really don’t want to go to Brian with this.”
Leaning forward in his chair and rubbing his chin, he said, “You don’t want to go to Brian? If you don’t mind my asking, Meg, is it because you don’t know how to broach the subject with him or is it that you think his response will be negative?”
Bearing my soul to a total stranger was the last thing I planned on doing when I arrived here. This man and Brian were friends from the club, how could I tell him my reasons for not wanting to involve Brian without sounding as if I were putting him down or complaining? I had another idea and could only hope he would at least hear me out.
“Well, you know how busy Brian is. It’s not that I can’t talk to him, it’s just that… well, to tell you the truth, it would mean more to me if I could do this on my own.”
I swallowed hard in preparation for what I was about to say.
“Mr. Anderson, isn’t it true that if I had enough collateral, you wouldn’t require a co-signer?”
“Yes, but I thought you said that wasn’t possible.”
“It isn’t exactly, but I may have something just as good.” I waited for him to show any signs of negativity, but instead he seemed genuinely interested in what I had to say. I continued, before he could change his mind. “I was wondering if I could use my business to back me. I’d bring in my books and tax returns and I’d even be willing to put contracts into effect with my bigger accounts. Do you think that might eliminate the need for a co-signer?”
Leaning back in his chair, his smile grew broad.
“That explains it—you want a business loan.”
Thoroughly confused, I sat quietly as he rose from his chair and began to pace back and forth behind his desk.
“Meg, when you applied for the loan, you applied for a personal loan to buy a vacant building. When I reviewed your application, I wasn’t aware you even had a business—thus requiring collateral or a co-signer.”
Embarrassed, I spoke softly. “I’m a little inexperienced when it comes to large scale financial matters. I told the girl who helped me fill out the application it was personal because I didn’t want Brian—or anyone—involved.”
Returning to his desk, he sat in his chair and began scribbling on the legal pad in front of him.
“I was under the wrong impression, but now that I know what it is you’re looking for, we may be able to work something out here.” Lifting his head from his notes, he offered a smile and continued, “Bring in what you have... tax returns, books and so forth. If everything is in order and I can balance that and the value of the property against what you want to borrow… contracts on your accounts won’t be necessary. What is it exactly you do? I’m assuming the building is going to house your business?”
“Yes, I’m a pastry chef. I do some catering, luncheons and parties, that sort of thing, but I also sell baked goods wholesale to businesses... restaurants and such around town. I’d like to open my own bakery so I can expand to sell retail.”
Relaxing into his chair, he nodded and said, “Wonderful! You bring in the items we discussed, leave them with my secretary and as soon as I’ve had a chance to go through all of it, I’ll call you and let you know if we can proceed with an appraisal.” On a lighter, less professional note, he added, “Cross your fingers, Meg. I’m rooting for you; my wife just loves her desserts and can’t bake to save her soul. She’d be one of your biggest customers.” He let out a jolly laugh that stretched his vest at the buttons, making them look like they would fly off in my direction at any moment.