How to show your bank you're a sure thing [infographic]

Posted by James Price | JPAbusiness on 06-Nov-2019 02:00:00

When considering whether to ‘take a risk’ on your business and fund it, a bank or financier will usually focus on three S’s:

  • Servicing
  • Security
  • Surety.

The infographic below sets out 7 factors which contribute to your ‘surety’ in the eyes of a bank or other financier:

How to show your bank you're a sure thing infographic

Communication key to surety

A key contributor to your ‘surety’ is the information you as a business owner provide to your lender or investor.

Your financier doesn’t want to see you fail, but they can’t impact the business like you can because they’re on the outside. They only know if you tell them.

 

Partnering with your bank

We have produced a number of free resources to help our readers and clients manage key business relationships, including relationships with bankers and financiers:

If you would like advice about managing these critical relationships, or you feel you may not be getting the most out of your dealings with your bank, contact the team at JPAbusiness on 02 6360 0360 (Orange) or 02 9893 1803 (Parramatta) for a confidential, initial discussion.

 

Managing Your Banking Relationship eBook | JPAbusiness

 

James Price 2018 smallJames Price has over 30 years' experience in providing strategic, commercial and financial advice to Australian and international business clients. James' blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.

 

Topics: Banks and lending, business advice, James Price, seeking finance, Parramatta, Orange NSW, business finance

 
Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
 
 

 

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