Banks have various sources of earnings. If a bank is large enough to have international operations, it has evolved enough diversification to counteract those losses.
More Quotes from Fritz Elmendorf:
Small businesses are very important customers for banks today because there are more of them than ever before and each and every bank is fighting to get them.Fritz Elmendorf
You'll pay more for it, but it still should be less than your credit-card rate.
Fritz Elmendorf
The broad trend among banks is to service customers almost regardless of their credit standing. They do not want to turn a customer away, particularly if it's a customer with a checking account or another relationship.
Fritz Elmendorf
If you don't trust yourself with that much credit, you should ask that the limit be reduced.
Fritz Elmendorf
The key to attracting small businesses is to give them as many different services as possible. Because today if one bank won't do that, another will.
Fritz Elmendorf
Think about the relative merit of variable rates versus fixed-rate credit. Locking in a fixed rate now gives you a great deal of comfort. Even though the lowest rate might be a variable rate, those could start to climb again next year.
Fritz Elmendorf
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