Meeting with your bank to ask for a loan for your business is always going to be a challenge even if you have a profitable business. Here’s a few ideas for you.
It’s important to remember that your loan manager is probably a kind human being who has to adhere to the bank’s rules on lending. The basic ones are:
Go to the meeting armed with:
With respect to what you should not say – try not to hide anything – evasion is not a good reflection on your business acumen. If you are asked a difficult question then answer it as honestly as you can – but by putting a good spin on it then you should come out sounding positive.
© Copyright 2006 Biz Guru LLC
Lee Lister, writes as The Biz Guru, for a number of web sites including her own sites http://www.BizGuru.us With over 20 year’s management and business consultancy experience with businesses large and small as well as being a serial entrepreneur, she now helps others set up, develop and market their businesses. Also visit http://www.Clikks.com for some our informational products to help you run your new business. We’ll market it from http://www.FindMeLinks.com
This article may be freely distributed if this resource box stays attached.