Saturday, 23 September 2017

Information and commentary for the small business banking industry

Help your small business customers prepare a successful loan application

20 Apr

As a bank, you’ll understand better than anyone that bank financing is essential for most small businesses, whether they’re just starting out or looking to expand and grow their business. There are few businesses that can launch or grow without bank financing, so to give them the best chance of succeeding in their application, there are easy ways to guide them through the process.

Of course, all banks have different criteria that’s relevant to the individual bank, but there are things almost all banks have in common when they’re considering a business loan application. It can only boost your relationship with your business customers if you’re able to give them a guide or checklist so they can maximize their chances of their application being approved.

What it all boils down to is good preparation. And the more you can help them with that, the better your relationship with your business customers will be. You’re also getting a good idea of how organized and diligent your customers are, so it’s a win-win situation for both of you.

The below article is a great one to show your small business customers, who are thinking of applying for finance.

Read the full article at: www.entrepreneurmag.co.za

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