Request for a Small Business Loan - Prepare before meeting your bank manager

We all know the 5 P, when it comes to preparing for a big event - 'particularly preparation prevents poor performance' and when it comes to your Bank Manager with your bowl in hand, this has never been more true!

But there are some steps you can take before the meeting to ensure that does not suffer from poor performance.

Prepare a Script

If you have prepared in advance with your bank manager should have your business plan in front of him. The reading of a plan even if they can give you a feel for the real person behind the business. He needs to see and hear for himself and this is your chance to win him over and show what a business man you are great!

To be ready for this you have to prepare a script that sells you and your business. Take every aspect of the plan and come up with a list of the main points you want to transmit. Next to each item, write some of your thoughts and then, to play with a sentence like it. I will not ramble on and put the manager to sleep, so make your points exciting, interesting and not too long.

Your step should include the strengths and weaknesses of both you and your business. Yes, the step is to present the positive aspects of your business and the opportunities at hand, but it's also time to recognize the negative. Any experienced banker quickly pick up on flaws in the plan or a questionable background. Be upfront and honest and weave this into your step.

Discover Your Script

The interview is your chance to sell something first - you, your vision and your business. Work of an actor is to go on stage and make people believe that is the person who is trying to portray. He does this with thorough preparation, including learning his script, such as getting up and sit, how to put meaning into what he says.

All this is achieved through knowledge and understanding of his script and learn it. You have to think as an actor. The script is your Business Plan. Spend some time to come up with questions that can be asked, so all you have to do is to practice giving birth.

Prepare strong statements of opening and closing

Two of the key elements of your presentation, which must be carefully prepared, are your opening and closing remarks. These have to summarize concisely what you want from the bank and portray confidence in your ability to achieve. The words employed and the presentation must be the beat and positive.

People are more likely to remember the first and the last thing they heard, so make your opening and closing remarks powerful and convincing. Whatever you do, do not start the interview with an opening line like,
"I know you probably can not help me, but ..."

Start with something in this regard, "Thanks for seeing me today. I hope you had a chance to review my business plan. As you know, I'm looking for a loan ..."

Similarly, your closing comments should be prepared in advance and rehearsed. Try something along the lines of "Thank you very much for your time. I'm sure you can see that I am fully committed to making this venture succeed. If you want to know more, give me a call. If not, then I look to receive the transmission your answer as soon as possible. "

A weak grasp as: "Oh, I hope you can help me", is not going to get you very far! His closing statement must be upbeat, positive and show that you wait to go!

Knowing what to say and how to say it will make you look professional and worthy of support and that is your goal. Someone who stumbles on his words and phrases which are full of "UMS" and "ah" did not impress.

A seller has a sales pitch prepared to reap the benefits, and so will you in your grant application if you have a presentation well prepared and practiced.

Robert Warlow
Small business success ......