A prospect calls a Tolleson Private Banker for aircraft financing. Currently, he is trying to purchase an airplane with some of his partners and is looking for a three-year interest-only loan with an 80% loan to value. He also mentions that he is frustrated with the turnover that has occurred at his current bank, and is having trouble getting his banker to call him back.
The prospect's present bank indicated that his loan has missed the deadline for the credit committee. He was also told that the bank would try to schedule an ad hoc meeting to approve his loan, but the banker wasn't sure when a decision would be made since the decision makers were in another city. When the prospect finally hears from his current banker, the loan has been approved, but the credit committee has increased the rate and won't agree to interest-only financing.
The Tolleson Private Banker makes a call to an aircraft broker, who confirms that a new version of the aircraft in question has a three-year waiting list. As a result, the airplane with in all likelihood be worth more than the current value. After receiving the borrower's financial statement, the Private Banker walks the information down to the President's office and also consults with the Chairman. Due to Tolleson Private Bank's local decision-making authority, the loan is approved on the same day as application. The significant financial wherewithal of the borrower enables Tolleson Private Bank to extend the loan to the client on the terms he desires.
The speed and ease of the transaction impressed the client, but what impressed him the most was the fact that the banker always answered his phone when he called. He specifically mentions that it is nice to have a banker than is here to advise him, as opposed to one who is only concerned about business development and cross-selling.
The prospect moved his entire relationship to Tolleson Private Bank.