As a Women’s Business Advocate, Kristen Byrd, Assistant Vice President in Business Banking at National City, now a part of PNC, in Louisville, Ky., works with a number of clients who are navigating their organizations through the choppy waters of a difficult business climate. We spoke with Kristen about how they are coping—and what she does to help.

INSIGHTS: Is is true that business funding has dried up in the current economy?

KB: For qualified businesses, there is still funding available, though you should expect to provide complete documentation to illustrate your company’s creditworthiness.

INSIGHTS: Is this different from what previously might have been required?

KB: Realistically, it isn’t, but when the economy was doing well, it seemed like anybody could get some kind of loan somewhere, which can set a business up for trouble. By conducting thorough due diligence, we’re really looking out for borrowers, because if they aren’t financially secure and just one thing goes wrong, their business could be at risk.

INSIGHTS: What are some of the most pressing issues your clients are facing?

KB: Aside from a general reduction in business, many clients are finding it more difficult to collect from customers. For a younger company that hasn’t experienced an economic downturn before, this may be a new experience, and they’re reluctant to take action.

INSIGHTS: What do you advise in those cases?

KB: I think the best approach, certainly for larger amounts, is to reach out to your customers face to face, and work directly with those responsible for paying the bills. Letting things slide doesn't accomplish anything. But by working one-on-one with a customer, you’re more likely to reach a solution, perhaps a payment plan or different terms.

INSIGHTS: What other advice do you have for clients?

KB: Remember that the downturn won’t last forever. If you’re able to get through this period by managing your company carefully, you’ll be in a great position when the economy recovers.