AI vs AE (Actual Experience)

Lenders have been developing artificial intelligence (AI) for decades and they now process a significant percent of all applications without human involvement.  The goal, when everyone is technically proficient, is to move that number close to 100%.  I think that’s dangerous for the business community.

It’s easy to sit at home, fill out a short form, grant access to banking, tax and accounting software and wait a few minutes.  Compare that to filling out multiple forms, providing what seems like massive amounts of information, answering question after question and waiting through a long drawn out maybe.

Borrowing money has now become easier than paying it back.  However, what seemed like a good solution at the time can make matters worse.  Taking on the wrong kind of debt with the wrong terms at the wrong time can have devastating effects on a business.

Not so long ago, business owners would rely on their banker or accountant to provide advice and direction.  That’s become difficult now as the world of business finance becomes increasingly AI reliant.  True Viking Finance is doing what it can to “bridge this knowledge gap” by making conversation with experienced lenders and good information readily accessible to all business owners.

We offer business owners an opportunity to ask questions and explore options.  We start every relationship with a structured conversation where we learn about the business, the current situation and the goals of the owner.  This is essential information that must be known before any kind of  financing advice is dispensed.  

If you know a business owner (small, medium or large) who is unsure how to solve their financing challenges, then a conversation with True Viking Finance is the best place to start.  It may take 30 minutes but it could save them a lot of time, money, frustration and maybe even their business.