1 Submit a complete file
Beyond the arguments that you are about to present to your banker, there are elements that speak for you… like your file. Arriving with a complete, structured, organized file, bringing together all the supporting documents is already an excellent start in convincing your bank of your repayment capabilities.
#2 Rely on a good business plan
Prepared upstream and very detailed, your business plan is there to support your words. It is a reference document that you must constantly use to show your contact that your project is solid and clearly constructed. Your banker wants something concrete and the business plan is there to provide it.
#3 Do some market research
Your market research allows you to demonstrate to your banker that you are fully aware of the market in which you are established . It proves that you don’t have your eyes fixed solely on your product/service: you have studied the target market, its consumers, its long-term opportunities and the competition. This market study is an additional tool for your potential lender to identify the potential of your business, the reliability of your structure and the feasibility of your project.
#4 Bank loan: consider a personal contribution
Do not neglect your ability to finance (albeit partially) your business. A personal contribution is a valuable argument to convince your banker: you will give him a good reason to trust you. Show that you are an entrepreneur convinced and motivated by his project: you will obtain your loan with the best rate!
#5 To get credit, be credible
Your interlocutor must understand that you are not alone in this project and that it is already supported by other people, organizations or institutions who have validated or even encouraged it. Dwell on the legal framework , on the external skills from which you benefit but also, if necessary, on the various aids or subsidies from which you have been able to benefit. Your banker will feel that he is dealing with a project that is already well under way and not with a draft whose continuation is suspended by his sole decision.
#6 Show that you have your feet on the ground
Your banker does not need to dream alongside you, but to be reassured. Opt for a pragmatic and measured enthusiasm that builds confidence, multiply demonstrations and projections, but remain reasonable and realistic in your approach. Prove that you are a candidate ready to face the inherent hazards of starting a business.