Step By Step Tips On What A Bank May Want From You If You Want To Borrow Money For Your Business

If you need to borrow money, your bank manager and your professional advisers need to understand how you see your business developing. They can then assess the viability of your plans and forecasts and give you advice and practical help. But, first, what does the bank expect from you? Broadly speaking before meeting your bank manager, you should be asking yourself some key questions: (a) What type of business do you intend to start – and is it likely to succeed? (b) Do you have the personalities needed? (c) Will you need money to establish or expand your business? (d) Do you need the bank to lend it to you? (e) If so, how much? (f) And when? (g) How will you pay it back? (h) Do you have any security you could offer the bank? Your bank manager will expect you to kno View the rest of this article