Monthly Archives: May 2012

Business Loan Bid Management: Best and Final or Sharpen Your Pencil?

Posted on May 30, 2012 by

Best and final or sharpen your pencil?  What does that have to do with getting a business loan? There are two main approaches for managing a loan bid process. Best and final permits the lender to make one bid without … Continue reading →

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Do You Have Multiple Lending Partners? Be Discrete

Posted on May 23, 2012 by

In business borrowing it is o.k. to have multiple lending relationships.  Unlike marriage where monogamy is the ideal structure, borrowers can nurture relationships with several targeted lending sources. But be discrete to avoid damaging a lending relationship.  Confidentiality is a top concern … Continue reading →

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How to Track Multiple Loan Bids with a Loan Quote Matrix

Posted on May 16, 2012 by

Create your own micro capital market.  How? Get more than one loan bid. Two quotes provides something to compare so do yourself a favor by asking at least two lenders to bid for your loan business.  If you have more … Continue reading →

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Asking for a Business Loan? Create a Quality RFP

Posted on May 9, 2012 by

You must design a compelling request for proposal (RFP) to maximize your borrowing effectiveness.  Invest time and money to produce a professional loan request that will represent you in front of the credit committee. Your RFP should contain a cover … Continue reading →

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The Lender of the Pack: How to Hunt for Business Loans Like an Alpha Dog

Posted on May 2, 2012 by

The search for a loan is a critical tactic in your business plan. There is a right way to secure business financing that will preserve your lending relationships, maximize your borrowing effectiveness and promote business growth. Be a more durable … Continue reading →

Posted in Borrowing, Business Borrowers, Uncategorized | Tagged ,