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Commercial banking also serves as a worldwide barometer of economic health and business trends.Some small commercial banks limit their reach to the local business community; but as business has gone global, so have commercial banks.Without LOCs, companies would face considerable expense in investigating their foreign customers to make sure they are legitimate and creditworthy, and complying with laws and regulations of the different countries in which they do business.In order to facilitate international trade and development, commercial banks convert and trade foreign currencies.Taking on the right amount of debt – and at the right time – can mean the difference between a business that struggles and one that succeeds. For most businesses, borrowing makes sense when it is necessary to bolster cash flow or finance growth or expansion.Yet, due to the Great Recession, the last few years have been particularly difficult for small businesses that overextended themselves by borrowing too much money without the capacity to make back what they owe.Commercial banks make possible the reliable transfer of funds and translation of business practices between different countries and different customs all over the world.

This is a calculated risk that probably has failed as many times as it has succeeded, and should only be done if you can justify it as a short-term tactic that promises the likelihood of a long-term payoff.Offer your best customers markdowns if they can pay you quicker.You should also contact your suppliers to arrange discounts and/or deferred payments.Commercial banks offer services such as trade finance, project finance, payroll, foreign exchange transactions and trading, lock boxes for collecting payments and general corporate finance.Without commercial banks, the international finance and import-export industry would not exist.

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