There are specific steps you can take to dramatically increase your chances of success in dealing with banks and other lenders. This may sound like an oxymoron, but you have to get your banker "excited" about your company. (An excited banker?) Only if he or she is truly excited and committed to your loan proposal can he or she sell it to the loan company. And it is a rare bank today that doesn't require committee approval on a business loan. Now, excitement for bankers is not your usual jumping up and down for joy excitement. It's something a lot more subtle.
Bankers are always on the lookout for solid companies to lend money to. That's their job. Bankers get excited about companies that stand out from the ordinary. You have to sell your banker on you and your company. Look at selling the bank as similar to the process you use to sell your products. You don't expect potential customers automatically to recognize the benefits of what you are selling without some education. Treat your banker the same way. Don't expect your banker automatically to see the gold hidden in your vision of the company's future.
Most loan proposals that come across bankers desks have a uniform similarity that reeks of lack of preparation and appear to shout "reject me, reject me! Reject me for lack of documented financial information, reject me for lack of a specific plan to pay you back. Reject me for not demonstrating how use of the bank's money can actually help my business earn additional profit."
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