Getting Your Bank Loan

Here are twelve basic steps you must take before going to the bank for a business loan. 

- Keep in mind that staying in commercial banks need to make loans 

- Learn how to anticipate every question that he or she has. 

- Do not take apologetic and negative attitude. 
- As an entrepreneur, make sure that you are thoroughly prepared 
When you go to your banker's office to request a loan. 

- Failure to discuss the risk in your application. You have to remember one thing: there is no business without risk. If you do not speak the risk, the bankers will assume that you have not thought about the risk. 

- Be sure. relationship of trust increases your chances of getting a loan. Show that you can make a success out of the money that the bank will lend to you. Imagine in your mind the positive results of its bank application. 

- Be sure that all your documents are neat, legible and organized into a cohesive and attractive way. Enter all loan documents. Handwritten documents look unprofessional. Do not forget to include a cover letter. 

- Do not stretch the truth in your loan application. Broad, unsubstantiated statements should be avoided. The lender can easily check out many facts at your request. 

- Dress professionally for the interview. It is a business transaction, so treat it as such. 

- Try one lender after another until you get your loan. To improve your position as you change bankers and banks, the best way is to ask for a referral from a successful entrepreneur. 

- Remember that the first loan is usually the hardest to get. Bankers prefer to lend money to borrowers who have at least one borrowed and are paid back at least one loan at a time. They are not venture capitalists who make high-risk loans, regardless of income prospects for your business. Bankers prefer to lend low-risk, low-profit venture, but high-risk businesses, or those with no record of accomplishment. 


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