It's easy to understand why this perception continues to exist. Prior to 2008, many businesses thought banks were all essentially the same. They were all equally stable and had what seemed to be an unlimited ability to make loans. But today, we know better. Chaos on Wall Street and unprecedented turmoil throughout the financial industry left a lot of businesses feeling uncertain about their lenders. It certainly didn't help that the bankers, who they'd spent years cultivating relationships with, stopped answering their phones.
The fact is, these days, a bank's ability to lend has less to do with global economic conditions as it does with the bank's approach to doing business. While larger financial institutions now base their decisions on strict formulas and corporate covenants, locally-based banks are able to evaluate their decisions on a case-by-case basis. Many, like Bank Mutual, are well-capitalized and actively searching for promising businesses to partner with immediately.
You might be in a position today to explore your banking options. When doing so, take into consideration the bank's approach to working with customers. Ask them questions about their decision-making process and request references from other local businesses. Sometimes the best choices are right under your nose!