Getting loan financing from banks has become increasingly difficult as they become more selective on the type of business profile and sector they want to be exposed to. While there are alternatives to bank financing, the latter still is a useful source of funding by way of providing credit line facilities, overdrafts and trade lines.
Many SME owners will only start sourcing for financing when they face a cash flow crunch. Many of these applications will regrettably be declined by banks. Banks are in the business of managing risk and will not indiscriminately offer SME financing to companies with no clear demonstration of repayment ability. Therefore, it is always a good practice to plan ahead and start initiating your loan applications when your company is in its best financial shape.
Through this coaching session, you will be able to:
- Identify ways to improve the bankability of your business
- Position your business as an acceptable risk for the banks
- Apply the “Do’s” and “Don’ts” of bank financing
- Construct a good business case for financial institutions
- Financing landscape in your home country and globally
- Types of bank financial products: uses and risks
- General lending criteria by financial institutions
- Credit repair roadmap