Ten Points About: Obtaining Business Credit

June 8, 2009

Create a “snapshot” of your company at a specific point in time. This is usually your company’s most recent financial statements, which provide a lender with a detailed and comprehensive “picture” of your company’s current business operations and profitability.

Have a well defined business plan. This demonstrates that you have already wisely considered your company’s strategic growth and related financial projections.
Remember that you are asking a prospective lender to effectively become a partner with your company, and knowing that your company has had the foresight to undertake sound financial and business practices is essential to obtaining necessary credit.
Consider self promotion. Clearly demonstrating that your company has established a proven track record in a particular industry can provide immediate credibility.