A ccessing suitable financing is a perennial problem for entrepreneurial businesses. While the private equity market may be booming for tech startups, companies that need a line of credit or money for factoring have a hard time getting banks to put up cash. But getting a bank loan doesn’t have to be that difficult. Recently, we asked some small business bankers and entrepreneurs for their advice on getting a ‘yes’ from a financial institution. Here are some of our favourite responses. TREAT YOUR BANK LIKE A BUSINESS PARTNER “You really have to get to know your bank manager. Invite them into your business to see what you’re doing. Have regularly scheduled meetings so they can understand the peaks and valleys of your business. When I needed immediate assistance with cash flow, my bankers knew what to expect long before that day, because we had discussions about it. We talked about how they could help us and what we needed to do to allow them to support us. All of these things...
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