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Getting Your Banker to Say Yes

Make things easy on your banker--it's your quickest path to capital.

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This story appears in the February 2002 issue of Entrepreneurs Start-Ups magazine.

Did you know that in many instances when a banker says no to a loan request, the reason is that the borrower simply did not provide the information necessary for the banker to say yes? Most banks will not make an effort to understand a business if the owner has not made a concerted effort to explain, in an organized and concise manner, the following:

  • The company's business: what the company will do with the money it wants to borrow
  • How the company intends to repay any borrowed funds

Let's take a look at the basics that every small-business borrower should cover to ensure bankers view their business in the best possible light.

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