Suddenly an entrepreneur? And now the negotiation meeting with your bank is just around the corner? Business founders should follow some rules of the game to convince with their personality, economic skills and business idea.
Here's a small but nice guide on how you too can prepare for the bank interview.
Appointment
Make an appointment with the responsible advisor of your bank by phone and briefly describe your concerns. I do NOT recommend you suddenly show up at the bank and chat up the teller at the bank counter, it looks unprofessional and does not make a good first impression.
Create a feel-good negotiating climate
The appointment should take place in a place where you feel comfortable, a place that gives you strength. If the space in your office is not suitable, point this out and ask for a suitable meeting room.
Please punctuality!
Should you still be late (due to traffic jams, etc.), please send us your.), inform your advisor in time.
Also clarify how long the appointment will take and note the opening hours of the bank.
Other little things you should pay attention to
- Clothes make the man According to the motto "Clothes make the man" you should also pay attention to your choice of clothes. clean your shoes, iron your shirt or dress, avoid stains
- Cell phone off: Avoid disruptions
- Language & choice of words: remain factual, listen well
- Exude positive feelings: Smile.
- Summary: End the interview with a brief summary and a clear list of next steps.
Tip: Maintain the relationship with your bank. This ensures a good long-term relationship.
Is your business solvent?
Whether or not you are approved for the loan depends on your ability to pay.
Credit checks for companies are more extensive, because their assessment is based on a rating system. Businesses today will be identified in terms of their
- Industry,
- the market situation,
- Entrepreneurial personality
- and qualification of the management,
- Their debt service capability,
- Assessed profitability and available equity.
Banks are also interested in the corporate strategy.
You should bring these documents with you:
The bank wants to get a picture of you and your company, so be sure to equip yourself with the following documents in advance:
- self-disclosure
- Copy of ID
- Registration form
- Income documents for the last three months
- Balance sheets of the last three business years, lists of balances
- Cost estimates
- Bank statements
- own calculations
- Documents on collateral such as bspw. Land register extract, cash deposits- Real estate- Securities- Receivables from deliveries and services- Insurances- Sureties- Certain material securities
- Purchase agreement, invoices, estimates, partnership agreement
- Debts and other liabilities
- Planning calculation
- a current excerpt from the company register,
- one business license
- List of authorized persons
Additionally for company founders
- Business plan
- Capital budgeting and financial planning: amount and financing of investment needs, income/expenditure estimation for the first 3 – 5 years.
- Legal framework: Legal form, regulatory requirements, power of representation.
- Schedule
Tip: Keeping quiet won't help – in the electronic age, banks (sooner or later) get hold of everything!
Also prepare any questions and a short company presentation.