Entrepreneur online mag found three bankers who actually want to make loans to small businesses. In their interview they discuss the current climate and what they like to see when a business approaches them for a loan.
If you’ve never applied for a business loan, approaching a bank can seem daunting, and add to that the troubles in the financial sector that have made loans even tougher to get. Oh, and more than 130 banks closed in 2009 alone, according to the FDIC. So there are fewer places to apply. It doesn’t sound good.
But with good preparation and a strong proposal, bankers say, it is still possible for a startup business to get a loan.