24 Nov What should I look for in a bank to finance me?
Great question, but nowadays banks choose people not the other way around unless you have a minimum of 6 to 7 figures to give them. Banks are all about collateral, yours, if its large enough they will talk to you. There are several things you should consider. First of all, do your homework and make sure you know everything about your business, your history, and anything else a bank might want to know. Will this bank be in business tomorrow? Besides financing you, what do you want to get out of a bank? Find a banker you’re comfortable working with, and line up a couple of other people at the bank that are familiar with your business in case one person leaves. Find somebody who’s willing to send business your way since they do have a vested interest in making sure you do well. Also, make sure you can be honest with your bank about good news and bad. Finally, think about potential growth. If you’re approaching a bank’s lending limit, then they won’t nbe able to help you expand in the future. Always try new options in your search, think out of the box. Visit www.EM-Advisory.com a little self promo never hurts.