How To Get A Small Business Loan | Bdc.ca

Your personal and professional profile The first thing a banker will be looking at is your character and previous business experience. The first impression counts for a lot. From dress and attitude to the way you present your project, the banker will be trying to assess your ability to manage the business. An updated CV underlining your skills and expertise related to the business should be on your check-list. Its like a job interview. Be honest about everything, Karpenko says. 2. The viability of your project The first question the banker has to answer when looking at your business plan is: How realistic is it? The viability of your project will be assessed in terms of the strengths, the opportunities and the risks presented in your business plan , including financial forecasts, the management teams experience and the marketing and sales strategy. You have to convince the banker that the idea keeping you up at night can become a viable business and that you are ready to take it there, Karpenko says. 3. Your financial capacity Having a solid credit history says a lot about your trustworthiness and ability to run a successful, profitable business. The banker is going to look at your wallet, Karpenko says.
For the original version including any supplementary images or video, visit http://www.bdc.ca/EN/articles-tools/money-finance/get-financing/Pages/how-get-small-business-loan.aspx

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s