Step By Step Tips On What A Bank May Want From You If You Want To Borrow Money For Your Business
If you need to borrow money, your bank manager and your professional advisers need to understand how you see your business developing. They can then assess the viability of your plans and forecasts and give you advice and practical help. But, first, what does the bank expect from you?
Broadly speaking before meeting your bank manager, you should be asking yourself some key questions:
(a) What type of business do you intend to start – and is it likely to succeed?
(b) Do you have the personalities needed?
(c) Will you need money to establish or expand your business?
(d) Do you need the bank to lend it to you?
(e) If so, how much?
(f) And when?
(g) How will you pay it back?
(h) Do you have any security you could offer the bank?
Your bank manager will expect you to know the answers to these questions on the outset.
Your bank manager will base the decision on whether or not to lend money to your business on his/her assessment of your business plan. Ultimately, the decision has to be a financial one. But if you present your plan on the back of an envelope it may indicate that you have a non business like attitude, which is unlikely to impress your potential customers.
Therefore, try to prepare your business plan in a clear, professional way. Consider typing it, or having it typed, and do not overcrowd the page. Ensure that your headings are clear and that all the figures used add up correctly. Clarity and simplicity are the key words. If your business plan is confusing, it is unlikely to convince your bank manager.
Your manager will also want to assess your personal qualities and your reliability, your capacity to stay in business and fulfill the promise of your business plan.
You need to think carefully about these important questions, as your ability to answer them will determine the manager’s response to your approach.
Other considerations
Once you have made your business plan, checking every aspect of your business and deciding whether or not you need help with the finance, you need to consider some other areas, two of which are insurance and taxation.
It is important that you understand the implications of both of these from the beginning, as failure to do so could result in serious repercussions for your business later on.
Insurance
It is very important that you take adequate insurance to protect your business’ future. This should include protection against:
(a) The cost of replacing stock and equipment that is lost, stolen or damaged.
(b) To cover your premises against fire, floods etc.
(c) Damages for injury to an employee, customer or third party whilst on your premises.
(d) Any special risks that apply to your type of business.
(e) Loss of life. (What happens to your family in the event of your death)?
Without the right type of insurance the survival of your business could be threatened.
Taxation
It is very important to you to make sure that you pay no more tax than you are obliged to pay, although you are of course obliged to provide accurate tax returns. Poor record keeping and lack of the right advice can lead to pay excess tax.
An unexpected tax bill can kill a small business, so you must be able to anticipate your tax liabilities.
So please read through these important points before you think of applying or speaking with your bank about a business loan. When you have the above points set? Then there is on reason why they will not give you one.Makabongwe Maseko offers advice on the business industry on his weblog “Online Marketing Business Opportunity”. To get more information and tips on business matters visit:http://online-marketing-business-opportunity.traders-online.net/
Article Source: http://www.simplysearch4it.com/article/52115.html
|
|
Ultrasonic Liposuction Equipment Cavitation Brand New Slimming LCD Touch Screen $2,985.00 |
|
|
Lot of Office Equipment, Desktops, LCD, XP PRO, Laptop, Printers, Fax, Network $2,200.00 |
|
|
Gator – G-tour CD Lift 52 road case – for up to 52″ LCD/Plasma, plus some gear $1,475.00 |
|
|
6 in 1 Ultrasonic & Dermabrasion beauty equipment LCD $849.99 |
|
|
2 x ANL Pupilometer + 3 x Marshall LCD4 + ANL Eyetrace Opthalmic Equipment $470.46 |
|
|
5 in 1 Ultrasonic & Dermabrasion beauty equipment LCD $684.99 |
|
|
SKB CASES 3SKB-3237 LARGE ROTO-MOLDED CASE FOR 32- 37″ LCD SCREENS 3SKB3237 NEW $589.99 |
|
|
SKB CASES 3SKB-2026 MOLDED TRANSPORT CASE FOR 20″ TO 26″ LCD SCREENS W/ FOAM NEW $469.99 |
|
|
FULL LOT of Video Production equipment and Broadcasting Plus LCD PROJECTORS $5.00 |
|
|
Large Road Plasma or LCD Case Black USED $449.00 |
|
|
Chief VCM47E LCD/CRT Projector Ceilling Mount $429.00 |
|
|
Dental Equipment Deluxe LCD Monitor Bracket $355.00 |
|
|
Intelligent Needle-free Mesotherapy LCD Equipment New $225.00 |
|
|
8″HDMI LCD*4*Kodac Microfiche Film Equipment Processor $299.99 |
|
|
DJ CASE amp light lcd TV case 43x24x30 storage hard case portable equipment $300.00 |
|
|
Dental Equipment LCD Monitor Bracket $299.00 |
|
|
MDK9263G-AT91SAM9263 dev board with 3.5″ QVGA TFT LCD $269.00 |
|
|
ATA CASE FOR 32″ LCD Flat screen TV LCD TV CASE $245.00 |
|
|
KARAOKE TV LCD FLAT SCREEN STAND DJ SYSTEM MONITOR PRO $236.98 |
|
|
Body Max Magnetic Recumbent Bike with LCD Console Exercise Home Gym Equipment $262.38 |
|
|
Sharp SharpVision XV-ZW99U LCD Projector Home Theater Movie Equipment $199.99 |
|
|
Complete Tattoo Kit 7 Color Ink 3 Machine Guns Set LCD Power Supply Equipment $129.99 |
|
|
2X Dental Curing Light Led Cordless Cure lamp LCD Screen Clinic Equipment 1700mW $232.88 |
|
|
SAFE CASE™ FOR 19″ – 22″ LCD Flat screen TV LCD TV CASE $219.00 |
|
|
MDK9261-AT91SAM9261 dev board with 3.5″ QVGA TFT LCD $190.00 |
|
|
Chief RPA020 Custom Inverted LCD/DLP Projector Ceiling Mount $199.00 |
|
|
Chief RPAU Universal Inverted LCD/DLP Projector Ceiling Mount $199.00 |
|
|
Chief RPA6500 Custom Inverted LCD/DLP Projector Ceiling Mount $199.00 |
|
|
Complete Tattoo Kit 7 Color Ink 3 Machine Guns Set LCD Power Supply Equipment $79.99 |
|
|
Complete Tattoo Kit 3 Machine Guns 7 Color Ink Set LCD Power Supply Equipment $79.99 |
|
|
3 Machine Guns 7 Color Ink Set Complete Tattoo Kit LCD Power Supply Equipment $79.99 |
|
|
Complete Tattoo Kit 27 Color Ink 2 Machine Guns Set LCD Power Supply Equipment $77.99 |
|
|
High Quality LED LCD Black TV Stand & Equipment Rack **GUARANTEED IN STOCK** $184.94 |
|
|
Dental Equipment Standard LCD Monitor Bracket $175.00 |
|
|
Gator G-LCD-4647 46″-47″ LCD / Plasma TV Convention Monitor Case Trade Show $99.00 |
|
|
FULL Tattoo Equipment Tattoo kits 4 tattoo guns kit lcd power supply kit $170.52 |
|
|
AVR/xMEGA/AVR32 ISP/JTAG/PDI + xmega32A4 FM/BT/LCD EVB $135.00 |
|
|
Professional tattoo machine kits with High LCD Power equipment Supply set $161.49 |
|
|
NUX Multi Effects Processor Pedal Guitar COLOR LCD NEW $159.99 |
|
|
Norco SA-3841 1U Fan Unit w/LCD Temp 19″x11.3″x1.75″ professional equipment $131.99 |
|
|
5″ TFT LCD Touch Screen SKD Monitor DIY Module for ATM POS Medical Equipment $153.90 |
|
|
Gator G-LCDCOVER-65 Nylon Cover for LCD & Plasma Screens; 63″ X 40″ X 6″ $139.99 |
|
|
Non-Contact LCD IR Laser Digital Temperature Thermometer Tester Equipment GM1350 $126.99 |
|
|
Led Curing Light Dental Coreless Cure Lamp Dentisty Equipment LCD Screen 1700mW $122.88 |
|
|
New Twist Stepper Handle Workout Machine Cardio Home Gym Equipment LCD Screen $120.47 |
|
|
Complete Tattoo Kit 54 Color Ink 6 Machine Guns Set LCD Power Supply Equipment $119.95 |
|
|
Complete Tattoo Kit 54 Color Ink 6 Machine Guns Set LCD Power Supply Equipment $119.95 |
|
|
Complete Tattoo Kit 54 Color Ink 6 Machine Guns Set LCD Power Supply Equipment $119.95 |
|
|
Complete Tattoo Kit 54 Color Ink 6 Machine Guns Set LCD Power Supply Equipment $119.90 |
|
|
09 MURANO AUDIO EQUIPMENT MOUNTED UNDER LCD SCREEN $100.00 |
|
|
Complete Tattoo Kit Equipment 3 Machine Set Digital LCD Power Supply 7 US Ink $105.99 |
|
|
Complete Tattoo Kit Equipment 3 Machine Set Digital LCD Power Supply 7 US Ink $103.99 |
|
|
Acesonic LCD-1 Adjustable TV/Monitor Stand with 2 Mic Holders * NEW IN BOX $102.00 |
|
|
karaoke stand lcd monitor stand dj pa band flatscreen (fits) 13 17 19 21 23 inch $96.99 |
|
|
lcd karaoke stand tv vga monitor stand flatscreen stand dj pa karaoke lcd stand $96.99 |
|
|
Lcd Digital Electronic Chromatic Acoustic Guitar Tuner $96.19 |
|
|
Lcd Digital Electronic Chromatic Acoustic Guitar Tuner $96.19 |
|
|
Lcd Digital Electronic Chromatic Acoustic Guitar Tuner $96.15 |
|
|
Pro Tattoo Kit Set Dual LCD Power Supply 4 Machine Gun Equipment Starbrite Ink $84.99 |
|
|
Pro Tattoo Kit Set Dual LCD Power Supply 4 Machine Gun Equipment Starbrite Ink $83.99 |
|
|
Pro Tattoo Kit Set Dual LCD Power Supply 4 Machine Gun Equipment Starbrite Ink $83.99 |
|
|
Pro Tattoo Kit Set Dual LCD Power Supply 4 Machine Gun Equipment Starbrite Ink $83.99 |
|
|
Complete Tattoo Kit 40 Color Ink 2 Machine Guns Set LCD Power Supply Equipment $84.95 |
|
|
Complete Tattoo Kit 40 Color Ink 2 Machine Guns Set LCD Power Supply Equipment $84.95 |
|
|
Complete Tattoo Kit 40 Color Ink 2 Machine Guns Set LCD Power Supply Equipment $84.95 |
|
|
Complete Tattoo Kit 40 Color Ink 2 Machine Guns Set LCD Power Supply Equipment $84.90 |
|
|
Fatboy Multifunction Equalizer with Tuner and LCD Display FBEQA4T $69.95 |
|
|
Starter Tattoo KIT 2 Machine LCD Digital Power Supply 7 USA Ink Set Equipment $79.99 |
|
|
Fatboy Multifunction Equalizer with Tuner and LCD Display FBEQA07 $64.95 |
|
|
Starter Tattoo KIT 2 Machine LCD Digital Power Supply 7 USA Ink Set Equipment $79.45 |
|
|
Complete Tattoo Kit 54 Color Ink 2 Machine Guns Set LCD Power Supply Equipment $47.80 |
|
|
Road Case for 42″ LCD Monitor / TV, ATA Flight Case $75.00 |
|
|
VMP ERLCD1017 Equipment Rack LCD Monitor Mount $62.00 |
|
|
NEW P10 TATTOO MACHINE LCD POWER GENERATORS KIT TATTOO EQUIPMENT POWER SUPPLY $72.19 |
|
|
Non-Contact LCD IR Laser Digital Temperature Thermometer Tester Equipment GM1150 $68.25 |
|
|
Complete Tattoo Kit 54 Color Ink 2 Machine Guns Set LCD Power Supply Equipment $66.90 |
|
|
Mini LCD tattoo power tattoo equipment tattoo supplier $53.59 |
|
|
DVD CD Television LCD Electronics Equipment Customer Repair Tracking Software $54.95 |
|
|
Korg Chromatic Tuner for brass band or orchestra instruments Digital LCD CA1 $34.95 |
|
|
White Digital LCD Beat Tempo Metronome Clip +Battery $22.77 |
|
|
LCD Digital Beat Tempo Mini Metronome White + Battery $22.17 |
|
|
Auto power off LCD Display Digital Meter Multimeter Tester Tool Test Equipment $41.99 |
|
|
Digital LCD Practice Pad with Built-In Metronome $35.00 |
|
|
Gator G-LCDCOVER-3819 LCD Cover Refurb $39.00 |
|
|
3in1 LCD Rhythm Trainer Tuner Tone Metronome Speaker Violin Guitar Bass Ukulele $34.95 |
|
|
PYLE 19″ GOOSENECK WALL MOUNT FOR LCD MONITORS PLGN19 $34.00 |
|
|
SMD Tester Meter LCD display Test Equipment Zener diode LED Battery Power Test $32.99 |
|
|
2 in 1 Chromatic Tuner Metronome Microphone LCD Display $17.79 |
|
|
Samson Chromatic Tuner/Metronome with Large Color LCD Display $29.00 |
|
|
Samson CT20 Clip On Tuner with Full Color LCD Display $29.00 |
|
|
Clip on Guitar Bass Violin Digital Metronome LCD Screen $11.79 |
|
|
Flanger LCD Digital Drummer Training Drum Practice Pad Metronome $28.23 |
|
|
Digital LCD screen Drummer Training Practice Drum Pad Metronome $19.99 |
|
|
EMT-998 3-in-1 Digital Metronome Tone Tuner Large LCD display $25.97 |
|
|
LCD Digital Drum Practice Exercise Drummer Training Pad Metronome Drum+Earphone $22.56 |
|
|
LCD Digital Drummer Training Drum Practice Exercise Train Pad Metronome+Earphone $22.56 |
|
|
Digital LCD Drummer Train Training Practice Exercise Drum Pad Metronome+Earphon $22.56 |
|
|
NEW KORG MA-30 ULTRA COMPACT IGITAL METRONOME LCD MEMORY BACKUP WITH BATTERIES $19.99 |
|
|
Densitron 4301BG-HNG 1″ x 4″ LCD Equipment Display $12.95 |
|
|
Densitron 2434A-HNG LCD Equipment Display $12.95 |
|
|
Taylor 9842 Commercial Waterproof Digital Thermometer $8.75 Flat-Edged Dial Safe-T-Guard Thermometer with Antimicrobial Sleeve. Special additive in the sleeve material inhibits bacterial and fungal growth. Thermometer is waterproof for dependable use in kitchen or lab environments. Field calibratable. Auto-off feature saves on battery life. What’s Included: One LR44 battery… |
|
|
Fermometer Adhesive Strip Thermometer $1.73 PRODUCT SPECIFICATIONS: The Fermometer is a liquid crystal display thermometer designed to monitor the temperature of the fermentation process with convenience and precision and without the sanitation concerns of immersion thermometers. It has a temperature range of 36 to 78 degrees Fahrenheit with temperature indicators every 2 degrees. Interpolation allows for one degree temperature determina… |
|
|
Maverick ET-71OS RediChek Remote Wireless Cooking Thermometer With LCD Transmitter $22.99 Set the desired temperature and it beeps and flashes when its reached that temperature. The remote has a 100 foot range and LCD transmitter. The stainless steel probe wire is 42 inches long. Both the receiver and transmitter have fold out stands and belt clips for easy access…. |
|
|
NAMCO Time Crisis 3 with Guncon 2 Light Gun $95.00 Time Crisis 3 brings the massive arcade hit to life, with all-new features and gaming modes! GUNCON 2 Light Gun included for superior shooting action… |
|
|
Elenco Snap Circuits Green – Alternative Energy Kit $41.99 Think and learn green with the latest from the Snap Circuits family. With over 125 projects using the award-winning Snap Circuits, your kids will have fun and stay busy learning about environmentally friendly energy. Snap Circuits Green includes over 40 parts, including: hand crank, solar cell, FM radio, energy compartment, rechargeable batter, windmill, clock and analog meter. A full-color manual… |
|
|
Spy Gear Spy Video Car VX-6 $53.00 The Spy Gear Spy Video Car VX6 is a spy mobile combining top features from all of the Spy Video vehicles. Unlike conventional remote-control cars, the VX6 allows you to see what it sees with real-time digital video displayed directly on the color LCD screen. Now kids can keep an eye on the action, no matter where it happens. Ideal for budding spies aged 8 years and up, the VX6 offers infrared nig… |
|
|
AT&T 945 4-Line Speakerphone with Intercom $95.94 AT&T 4-Line Phone Basic AT&T 4-Line Phone Basic Features: Four-line expandablecorded telephone The ATT945 replaces the ATT944 ATT945 is compatible with the ATT974, ATT984, and the older models, ATT944/955/964 Speakerphone 1 to 4 line capability Intercom Page Expandable up to 16 stations (the maximum number of stations is 12 if one of the ATT944,955, or 964 is attached to the system) 2 Dataports Ea… |
|
|
(10 Items Combo) Tool Repair Kit Precision Screw Driver Set Torx + Flat Head + Safe Plying Prying Pry Tool for Motorola Verizon Sprint Att Cingular Razr Razorand More $10.90 Item 1 – 7 : Magnetized tips precision torx screw driver. Sizes : T3, T4, T5, T6, T7, T8, T10. Durable with precision cut sizes to ensure you can get the job right like a professional. Support end (blue color ends) give you the ability to turn the screw driver and holding it still, and magnetized tips to hold the screws to avoid dropping the tiny parts. Use this kit to repair cell phones, laptops,… |
|
|
Midland 75-822 40 Channel CB-Way Radio $74.99 Handheld Mobile CB w/ Adapter. – Midland handlheld mobile CB with adapter- Lightweight handheld CB radio that can be easily converted to a mobile CB- For portable: insert batteries into battery pack and attach flexible antenna- For mobile: replace the battery pack with the silde-on auto adapter, plug into your vehicle’s cigarette lighter and attach an external antenna- Squelch control- On/off volu… |
|
|
iBall Wireless Trailer Hitch Camera $119.00 iBall Magnetic Wireless Submergible Camera with Cigarette Lighter Port Powered Monitor for Trailer Hitch. This Camera is going to make backing-up to connect ball and hitch very easy. No more getting out of the vehicle to check if you are lined-up. It will be easy to see small trailers or empty trailers because it attaches magnetically to the rear of your vehicle. You can use this for launching y… |
