More than a casual conversation, your interview with a prospective banker is a serious exchange of information. If this is the first meeting, you are two people trying to size each other up.
Plan, structure and rehearse how you will conduct the meeting. Appear organized with your questions on sheets of paper or on a laptop with space for recording notes.
You are looking for a banker willing to help you and your business succeed. Seek a person with the capacity and the authority to grant your needs.
Your banker will be looking for a potential client with the "four Cs" most bankers expect in their clients: character, capital, capacity, and collateral.
Find ways to demonstrate your integrity, your history of fulfilling obligations and your financial discipline.
Present factual information about your personal and business capital resources.
What is or will be your venture's capacity to re-pay your loans in a timely manner.
Describe your collateral with such details as ownership, market value, convertibility to cash, etc.
Show respect to your banker, name persons you respect and those who respect you in return.
Some topics for discussion.
Respect the bank's position. If your business venture fails, the bank loses. If your venture succeeds, you will not share your windfall with the bank. It only gets the fees for services, the interest on your loans and the use of your deposits.
Stories from members will add great value to these maxims.
Please post your story by emailing it to max@unclemaxsays.com.
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