1. Keep the written plan size to a reasonable length, max 25 pages not including appendices with all relevant documents, like resume, research, etc
  2. The Business plan represents your company and you, make it look great, bind it, use graphics and make sure there are no typos
  3. Keep it conservative but optimistic especially with your financials
  4. Make an appointment at the bank or credit union before you go.
  5. Forward the banker you are meeting a copy of the business plan for them to review before they meet you.
  6. They’ll check your character, collateral/credit and cash flow
  7. They send your application off to an analyst to do a Risk assessment , meaning how is the economy, timing, competition, industry going to affect the business failing or not
  8. Do you have cash flow coming in a reasonable time on your financial forecast? They want to know you can pay the loan. The proforma will tell them at a glance.
  9. Are you going to purchase assets that the bank can use to protect their money, they like that.
  10. Involve your accountant and other professionals in your plan to reassure uneasy bankers. They like to know you have these people in place and can use them as resource when needed.
  11. Take the banker meeting as a way to form a relationship  because if you fail to get money from him, he may have access to alternative financing channels into which you can tap and at the very least he can tell you why you didn’t get the loan
  12. If you get the money- spend it wisely!
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