Loan decisions on assumptions. You pay the loan? How? How to know the lender? If your business was challenged during the recession, follow these steps to challenge and change the hypothesis of the lender that your business is problematic (yet).My husband brought his orthopaedic specialist when he was in a wheelchair and under the influence of narcotics because of a back injury. When the treatment was a success, the doctor told Bill that could resume their normal activities. Luckily, I was there!
Asked if that includes chainsawing trees. Or chopping wood. Hmmmmm... the doctor perhaps decided that it should be delayed in those. His perception of my husband was marked by the man in the wheelchair who could not follow a conversation - not a camper with chainsaw.
If the cash flow was tight the last time you sat with your lender's business and they were a bit desperate - and assuming things have improved, here are three steps to change the perception of the lender of:
A meeting arranged before you need a loan. Ask the lender to see the business. Show your evidence for rehire, new contracts with clients and a noisy business. Improve your personal finances. Make sure that he has personally paid credit card and other debts. How is your personal liquidity? Probably its security personnel will be needed and it must be worth something. Share your plans and strategies. A lender wants to know that it has not been burying its head in the sand during the recession. Then, some of which I've tried has not worked, but what? And how did move to take advantage of what worked and emptied fast flight;? does it not?
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