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

Put some skin in the game.

“If you’re starting up a business and want 100% financing, forget it. How much skin in the game varies by industry, which varies by the assets that you need. So how do you figure that out?  Talk to a banker that lends to firms in your industry.” asserts Seiwert. “Don’t ask for a loan that should be funded with an equity injection by the owners.  Bankers are not paid to take equity risk.  We need to get it repaid because what we’re doing is lending shareholder and depositor money and they all would like it back with some interest.”

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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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