The Loan Proposal Presentation

Once your loan proposal is prepared and your prospective lender has been chosen, the time comes to present your proposal. Remember, this is one of the most important presentations you will make in your lifetime, so perhaps you should role play with someone before you actually go into the bank. The more times you go through your presentation beforehand, the more comfortable you will be with the material once the time comes to present it to the bank. This role play will also help you anticipate questions your banker might ask during the first loan interview. You may want to consult other small business owners for tips on how to handle the presentation, particularly if you know others who have gone through the same lender.

Remember, go into the interview prepared! Have all your written documentation ready. Know ALL your facts, figures and numbers, and be prepared to talk about them. Be prepared with collateral you can offer. And, most importantly, be confident! Have in mind what is unique about YOUR business and be prepared to sell it.

Once you are ready, schedule an appointment at your bank of choice. Show up on time. Treat the meeting as you would any other business meeting, and maintain a professional attitude throughout. Know what your business can do for the bank—for example, account sizes and financial needs. Also, come armed with a set of questions for the bank manager. You want to be sure that they can meet your needs.

Once you have presented your loan proposal, ask the banker for an anticipated response time. Your request won’t be approved in the initial meeting, but your banker will likely contact you shortly with a request for further information.