What to Ask Your Banker

To make sure you are putting your money in a bank that will help your business grow, ask these questions.

1. Is it necessary to maintain certain balances before the bankwill consider a loan?

2. Will the bank advance a line of credit, and if so, what arethe requirements?

3. Does the bank have limitations on the number of small loansit will grant or the types of businesses to which it will grantloans?

4. What is the bank's policy on the size or description ofchecks deposited to be held for collection?

5. Will checks under that size be credited immediately to yourchecking account balance? (This question is very important, and youmust press for a definite answer.)

If you do not have a previous business account to serve as areference, some banks will hold all checks for collection untilthey develop experience with you. Whether the bank exercises thisprecaution may depend on your personal credit rating.

Excerpted from Starting a Home-based Business

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