How to Woo Your Banker

The scene is familiar to many bankers. The owner of a family business walks into the bank one morning and announces, “My daughter and I just decided we want to open a new store.”

This owner is looking for a loan. He and his daughter have been thinking that in the current economic climate they can build cheaply or get favorable terms on a long-term lease. The business owner has a rough idea in his head of how much inventory his new store will need, how many sales people he will have to hire, what the probable cost of construction or rent will be. He even has a good idea of what the store's first year sales are likely to be.

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