Helpful Tips For Your Loan Interview
Provided by IFC's Gender Entrepreneurship Markets Program.
1. Be absolutely familiar with everything in the business plan.
2. Sound confident about your business plans and growth.
3. Do various trial run presentations with a friend.
4. Make an appointment - don't just drop in.
5. Don't leave your business plan at the bank - do this only after you've had your interview.
6. Find out who makes the lending decision at the bank, and if possible, what the maximum limit (loan size) the manager can approve.
7. Invite the lender to visit your business. Take them out to lunch, if possible.
8. Open a bank account at the bank. Chose a small business friendly bank.
9. Be honest with the banker. Any misleading information or untruth will come back to haunt you.
10. Keep the banker informed as to your business progress.
11. If there is a credit bureau and you are in it, make sure you know what the credit report says.12. Follow up your interview with a Thank-You note, which reiterates your invitation.
12. Follow up your interview with a Thank-You note, which reiterates your invitation.
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