Get inside your bank manager's head

Seeing your bank manager about a business loan need not be too scary

In most cases people ask their bank managers for help, but how do you best go about it?

Paul Lynam, chief executive NatWest & RBS Business Banking, reveals the questions you are most likely to face.

QUESTIONDom Gallagher, UK
When people come to you for a business start up loan, what questions should they be prepared to answer, assuming they do have a business plan?

ANSWERPaul Lynam, chief executive NatWest & RBS Business Banking
Preparing a business plan is a great place to start, as this will enable you to put your ideas into a format that can help you decide how viable your business proposition is.

This will prompt you to ask yourself questions about the strengths, weaknesses, opportunities and threats of your potential business.

In addition, it will provide you with a working document that can be used to demonstrate the commercial viability of your business to your bank manager.

You would need to demonstrate your experience, knowledge and ability in successfully managing the business.

As part of this planning process I would suggest you consider and be prepared to answer the following questions:

Who and where are your competitors?

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