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Banks employ economists and legal advisers who specialize in business funding. These people will ask you to draw a business plan, to put pen to paper and come up with the math. They will want to see that there is a need for the product or service you intend to sell. If you are going to need some fixed assets, such as a piece of machinery, they are going to ask that you include that in your investment. They will remind you that you may need some licenses, which will also add to the initial investment. If you need to employ people to perform some activities, such as processing or selling something, the bank will bring to mind other expenses, such as social security payments, insurance and training courses, which you will need to cover for.
They will also look at your record in previous entrepreneurial endeavors. A startup will be scrutinized closer than a pro who has proven already that he or she is bona fide client has returned the bank’s funds as promised.
When it comes to dealing with the bank, it all boils down to trust. One thing is important to realize that banking is also a type of business and it’s in the best interest of bankers to grant loans. That’s how they live. They will often give some of the best pieces of advice to small business entrepreneurs, since most businesses do start up small. The idea is to do your homework thoroughly and present your case with confidence. These two will be major contributors to whether you get funding from a bank or not.
Topic starter
Posted : 07/02/2011 3:48 am
Re: secret to what the banks and investors are looking for
Im afraid there is no answer to that that I know of. Other than knowing someone who works for the cable company lol.
Posted : 07/02/2011 6:26 am
Re: secret to what the banks and investors are looking for
If you need to employ people to perform some activities, such as processing or selling something, the bank will bring to mind other expenses, such as social security payments, insurance and training courses, which you will need to cover for. They will often give some of the best pieces of advice to small business entrepreneurs, since most businesses do start up small.
Posted : 15/03/2011 8:45 am
Re: secret to what the banks and investors are looking for
If you are going to need some fixed assets, such as a piece of machinery, they are going to ask that you include that in your investment. They will remind you that you may need some licenses, which will also add to the initial investment. If you need to employ people to perform some activities, such as processing or selling something, the bank will bring to mind other expenses, such as social security payments, insurance and training courses, which you will need to cover for. It covers everything from a needle to a ship. These days more and more companies are focusing on advertising through internet. Thanks for sharing with us.
Posted : 12/04/2011 6:22 am
Re: secret to what the banks and investors are looking for
woodfamer;61577 wrote: I will let them know the solid dates. It would be a real help to me if anyone can offer me a placement on their farm. The idea is to do your homework thoroughly and present your case with confidence. These two will be major contributors to whether you get funding from a bank or not.
I agree with you. I think all success must be prepared
Posted : 14/04/2011 12:32 am
Re: secret to what the banks and investors are looking for
When we start a new business the best thing we can do is, we should focus on our priorities, we should have a clear vision about the future prospects of the business, and keep the business insured.
Posted : 11/05/2011 12:47 pm
Re: secret to what the banks and investors are looking for
Don't forget that there are a lot of grants and backed loan money still out there. If you already have a solid business plan ready to present to a bank, you might as well apply. See what you can get.
Posted : 20/05/2011 2:15 pm
Re: secret to what the banks and investors are looking for
I didn't knew about this. Thanks for sharing with us!
Posted : 11/08/2011 6:35 pm
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