If your a business a loan from your bank is painful and can be a delicate process. While lending money is one function a bank performs, it is a very important part of a bank’s services to your business.
Banks have stringent business lending criteria that are strictly adhered to. In order to secure your business a bank loan, it is important to understand and fulfill all the requirements.
Banks generally need to see your business plans for the next three to five years which will inlcude cash flow forecasts. This gives them an idea of the business its financial plans and enables them to assess your ability to repay the loan. In order to get free business banking and your loan approved you must convince the bank that the risk involved is not high.This may involve the owner or Directors proviving a personal gurantee (more...)