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This interview consisted of the following topics. His interest in becoming a banker and requirements for his position, Interest rates for real estate, operating capital, and machinery and equipment, and lending amount stipulations.
The Office that Douglas Green works at is located at 222 2nd avenue SE Cedar Rapids, Iowa 52401. The interview was conducted at the US bank located in Amana, Iowa. Douglas decided to become a banker after he obtained a batchlers degree in business administration with a miner in finance. He had a friend when he lived in Illinois that was a banker and he was able to get him a job at his bank. Douglas enjoyed his work and playing with other peoples money a worked his was up to his current position as a Commercial Banking Division Relationship Manager. Douglas said that if he were to become a banker again he would have done a more direct route. His favorite tasks as a banker are Human Relations and meeting all sorts of different people as far as business persons, bankers ECT. His least favorite tasks are daily paperwork and time restraints. He is currently working on a forty eight million dollar operating loan for a grain bin and conveyor company located in south east Iowa and is also working with several of the areas largest cooperative companies with large operating loans.
Interest rates for five to ten year fully amortized Real Estate loans are six to seven percent with a seventy percent down payment. Loans for operating capital are tied to prime plus or minus to one to one and a half percent of prime. Interest rates for Machinery and Equipment with an eighty percent down payment are six to seven percent.
In order to apply for a loan of any sort especially a operating loan or line of credit one must show finial worthiness though a cash flow statement and a net worth and farm tax records statement and show proof of how leveraged you are on land buildings and equipment. One must show any other loans they must have and how much is owed. He likes to work with his customers to help them be profitable in their business by going throw all aspects of the operation to see what area are profitable and which ones are not and