Be Smart With Your Strategy

IT isn’t just phones that are smart these days. Businesses are becoming streetwise and ‘bank savvy’ in their efforts to access finance to better their fortunes. And it isn’t just a need for survival that firms are looking to borrow funds from financial institutions.

According to figures, there is a clear trend towards companies wanting to build new premises and grow their business – and banks are welcoming viable propositions.

A more positive feeling among banks, despite the figures being lower than the Government would like, means many owners are looking at their existing customer base and working out how they can grow. Either through building on established relationships and offering more, or entering new markets.

So the message is clear. If you have a clear strategy and have done your research, you may well find your bank willing to say ‘yes’. Why not make it happen for you?


  • Banks need to take a good look at themselves as some of them should be lending a lot more.
    They need to have business propositions that stack up though so it is down to business owners to make sure they get the message across to the lenders that they have a viable proposal and that it can be repaid, as therein lies the key.

  • Businesses need to place themselves in the best position for a bank to want to lend.
    There is no real obligation on the bank to lend to a company that doesn’t prove it can pay back the borrowing.
    There are many pitfalls and it would pay a business owner to really explore what banks are looking for before they take the plunge.

  • Lending doesn’t follow a rhyme or reason though these days. Unless you have a relationship manager there is nothing but a computer which credit scores your application.
    It is a nonsense that a computer makes a decision on something that could affect your life.
    I would like a banker to tell me this isn’t true.

  • The same thing has happened to me. I have applied for a loan when I thought i had every criteria nailed and yet the credit score failed. Amazing. It was purely for a personal loan with my bank and because there wasn’t the regular income in the account, that was curtains for me and my application.
    It’s wrong. I have money behind me and could have paid the loan off in an instant but decided to go down the borrowing route as it made sense for me.
    I don’t know what the government is telling banks but they really ought to say to them that lending figures aren’t enough and they need to pull their fingers out.

  • Banks and lending used to be a given. Now they are different things altogether.
    banks only lend to good business proposals. Te only business that need money aren’t very good with cash flow so therefore they aren’t very good at propositions either. It’s a catch 22.

  • Banks will lend as long as they feel the money can be repaid. There has to be proof of a good business plan and figures must back it up. It can be done, with the right guidance and the correct procedures, a bank will let you move on with their backing. They won’t dish oout funds willy nilly though.

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