Retailers Bank Loan Approval Secrets by Joseph James Bsc MBA

Retailers Bank Loan Approval Secrets

byJoseph James Bsc MBA

Kobo ebook | January 25, 2013

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A business plan needs to be well written in order to convince a banker to lend your business money. Remember that banks and majority of the financial institutions are operated to make a profit and pay a healthy dividend to their shareholders. As a result, the banks have developed sophisticated internal processes to carefully vet all loan applications prior to lending money to businesses. The vetting process, known as the credit review process is designed to evaluate the capability of the business to repay – in full – the loan advanced to the business as per the terms and conditions of the loan agreement.

The bank staff that are responsible for reviewing loan applications are monitored and their performance measured based on the quality of the loans they approve. Bank staff receive a negative rating for each loan they advance to a business that results in a repayment default. As a result of this, bank staff will quickly reject loan applications with inconsistent business plans. Business plans may result in a rejection of your application if they are incomplete, inaccurate or contain unclear and misleading information.

It is therefore in your interest to understand what the bank staff need to approve the loan application and business plan. Secondly, it will be a bonus to the applicant if they understand what checks the bank staff go through, once they receive the business plan. These checks help the bank staff arrive at a decision whether or not to approve the loan.

In other words, if a business owner has some understanding of how a bank’s credit review process works and the critical information needed, then the business owner will be able to write a business plan that will specifically address what the bank staff need in order to get approval for the bank financing facility.

This book therefore focuses on explaining to the reader how to write a winning business plan that will most certainly get approved by a bank. The book starts by educating the reader on a bank’s credit review process. The book then provides additional detailed information on what to include in a business plan that will meet the expectations of your bank.

An understanding of the bank’s credit review process when submitting a business loan to a bank enables you to adequately write a business plan that meets a bank’s expectations. You will be in a better position to discuss and answer satisfactorily, questions raised by your banker during the review process. This is because you will have prior knowledge of the key areas of concern the bank staff will be focusing on when they review your business plan and loan application details. You will have some idea of the bank’s untold secrets of their credit review process. When you sit in front of a banker and apply for finance, armed with the knowledge outlined in this book, you will be in a stronger position to negotiate a successful outcome with your banker to obtain financing for your business.

Title:Retailers Bank Loan Approval SecretsFormat:Kobo ebookPublished:January 25, 2013Publisher:icitybooksLanguage:English

The following ISBNs are associated with this title: