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:

That you can repay the loan.

The loan is business based and for a reasonable reason.

That your business is viable and bona fida business.

Go to the meeting armed with:

Your business details such as licenses etc.

An outline of your business and how you see it expanding in the next few years.

If you are seeking a large amount of money or have a new business then you must have a business plan.

How much money you require and when you need it.

How you will spend it and on what items.

How your business will benefit, expand or profit from the loan.

What collateral you can offer the bank - don't offer this until asked.

When and how you will repay the loan.

With respect to what you should not say - try not to hide anything - evasion is not a good reflection on your busin

ess 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.

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