3 Tips to Nail Your Loan Request Meeting with Your Bank


Growth always requires cash. Whether a business is expanding into new markets, growing their current offerings, or being bought out by current employees or a strategic buyer, funds are always required.

Sometimes a company may have the cash on hand to cover these plans and goals, but more often, financing is needed. But approaching a bank for a loan often begins to stir up anxiety and confusion, with the owner having no clue where to start. Or on the flip side, an owner may think the process is relatively simple and not realize how much prep work needs to go into a loan request.

Business owners are often entrepreneurs and by nature, are risk takers. Bankers are the opposite. When they make a loan, they have to be 100% right that it was a smart loan, 99% of the time, so they tend to be risk-adverse. When applying for a loan, it’s important to keep this in mind.

Continue reading: https://theprofitabilitycoach.net/blog/3-tips-to-nail-your-loan-request-meeting-with-your-bank/

Updated: Mar 29, 2022

About the author
Bill McDermott of The Profitability Coach is a member of XPX Atlanta

Business owners have a big vision for their company & want to move forward, but don’t know how. I help identify hurdles getting in the way & create a path to profitability they never thought possible.