If You’re Really Serious About Getting That Bank Loan Approved Then You’d Better Avoid These Three Common Mistakes!
So when was the last time you had a face to face with your local banker, in order to get that much needed bank loan approved? Even though for the most part, you’ve covered all the bases. There is still that little matter of presenting your business, service or product in the best possible light, not just on paper, but in person as well!
But if you go into your face to face meeting and look your banker in the eyes and the following three vocal missteps occur! My friend, in all likelihood your goose is surely cooked!
Because no matter what state your current local economy is in, but especially if the general consensus is, there’s a raging local recession going on and you have the unmitigated gall to voice the following three, totally incredibly lame excuses!
You’ll all but seal your doom!
The Three Fastest Ways To Really Kill Your Chances For Bank Loan Approval!
Before we go there, let’s make sure the stage is properly set, you know going in, exactly “what” your up against! And “what’s to be expected from you! (From your bankers perspective of course!)
So here’s a quick question for you. Exactly “how” much is your sterling reputation worth? Agreed! So now (hopefully) you can much better appreciate your local bankers tenuous situation! Huh? You see, they only have a gazillion and one,local small business owners and or service providers, trying to borrow their depositors hard earned money!
And “if” they were to take a chance on “you” especially after you’ve made it crystal clear, that things aren’t quite as organized as they (could) and should be! And if things were not to wok out! Your banker could very well find themselves browsing through the Monster.com listings fairly soon!
So be smart and please “do not” let the following three (and all too common) totally lame excuses, ever be a part of your verbal (face to face one on one meeting) loan application process!
First you’ll “see” listed the three common – totally lame- excuses, then in para theses, you “see” how your banker is probably really interpreting “what” you actually said!
1.) Totally lame excuse # one: You’re not totally comfortable at this particular time, (personally) guaranteeing your loan! (Your banker: Translated: This loser really thinks I’m going to personally stick my neck out, during the middle of a recession, for someone that doesn’t even believe enough in their own personal success!)
2.) Totally lame excuse # two: You tell your banker that “you” need to explain a few things that are listed on your financial statements! (Your banker: Translated: Your financial house is not in order and you really expect me to approve a loan of this size, strictly on the basis that at some point you’re going to get things together!)
Thanks for stopping in! And of course, we’ll be in touch!)
3.) Totally lame excuse # three: Since your business, product and or service is so unique! It’s practically impossible to forecast accurate future cash flow projections! (Your banker: translated: They’ve got no ideas whatsoever, when and “how” they’re going to be able to pay back this loan!
Now you can sugar coat these three all too common bank loan application deal killers, all you want to! Or you can be smart and simply avoid them! The choice is yours! Any questions?
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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