Senior finance majors Laura Beth Hallman and Cydney Friemel participated in the Great Plains Ag Credit Student Board of Directors for the 2010-11 academic year. The students learned about the loan process from the lender’s perspective and about presenting information to the board of directors for the bank.
“We went through the entire loan process from application to decision in the loan committee. We also interviewed potential customers to learn how Great Plains could help their businesses. I like that we applied classroom theories to bank management. It was learning the same things but in a different context,” said Hallman.
“It was interesting to see what the lender focuses on. Which risks the lender thinks are most important in determining whether or not to give a loan. It is important for borrowers to communicate with the bank,” said Friemel.