6 Ways to Get a Bank Loan for Your Business

If you think like a banker, you could get the finance you need for your business

Develop and maintain a relationship with your banker before you need to borrow.

Long before you apply for a loan, you should have been in a relationship and building a relationship with a banker, says Wilson. “That way you have that trust established, so that that banker can really understand your business, spend intimate time, and then so they can help you prepare for that loan application or evaluation that they’re going to take you through,” he says. “In this type of environment we’re in now where relationship is so important, because banks lend to people and businesses. You want to have a relationship with an individual who can look outside of just the numbers since sometimes the numbers don’t tell the full story.”

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7 Responses to 6 Ways to Get a Bank Loan for Your Business

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  5. Ms Shoestring says:

    The big disadvantage about the bank loan is the interest! Budding entrepreneurs need to look for alternative sources of finance and maybe even consider bootstrapping. External finance is not always the best route. http://www.shoestring-entrepreneurs.net

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