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Would a lender give you a business loan?
While getting investment is a goal for many small business people; the reality is that the majority of micro and small businesses are just not investible, or not at investment ready. So the option for them is still the traditional business loan or overdraft; unless you are lucky enough to have a rich relative. Bear in mind that to a bank; they are investing in you. They may not be getting the same rewards, such as dividends, like a regular investor. So they need to know who they are getting into bed with.
In today’s episode I would like to give you some benchmarks that you can use, to give you an idea whether or not you and your business would be considered a good enough proposition for a loan or to some degree an overdraft.
You will also hear
- How your historical financial management has a big impact on whether you should borrow at all.
- A “Yes” from a bank could be the worst thing to happen to you.
- What is Social Capital?
- Should you borrow at all?
- The more money you have, the more money you will get.
And much more
[spp-tweet tweet=” A YES from a bank could be the worst answer for your business “]
Disclaimer
This show, or any resources mentioned, is not a substitute for obtaining proper financial and or legal advice from a qualified professional who is familiar with your specific situation. Also be aware that the information contained may not be suitable for every person or organisation.
Show Links & Resources
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How to Rate & Review a Podcast in iTunes
http://serialpodcast.org/how-to-listen (This is brilliantly done)
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The show guiding women and entrepreneurs through the ups and downs of money, investing, business, relationships, divorce & breakups
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