union first market bank jim tyler, commercial division
TRANSCRIPT
Union First Market Bank
Jim Tyler, Commercial Division
Are banks still lending money?
Bankers are NOT venture capitalists.
Bankers are NOT venture capitalists.
They need more than a good idea.
What industries give banks the most concern?
What banks look for:
What banks look for:
Why did you pick this industry?
What banks look for:
Do you have experience
in this industry?
What banks look for:
Have you run a business before?
What banks look for:
Who are you suppliers?
Will they give you terms?
What banks look for:
Who are your customers?
What banks look for:
Who are your competitors?
What banks look for:
What is your personal
financial position?
What banks look for:
How much money do you need?
What banks look for:
Why do you need
that much money?
What banks look for:
Why do you need
that much money?
(“Working Capital” is not enough of an answer.)
What banks look for:
How much money are you putting into this new business?
What banks look for:
How will you pay the bank back?
What banks look for:
Do you have any collateral? (Business assets supported
by “outside” assets.)
What banks look for:
Do you need a guarantor
or cosigner?
A good business plan and financial forecast
addresses all these questions.
A good business plan and financial forecast
addresses all these questions.Any banker or lender needs the
answers in order to loan you money or invest in your business