Playbook / Lessons / Applications: accelerator, grant and lender
Cash-flow businessMeet a local banker before you need money
A small-business coach tells owners to look first for a local bank that can meet their needs and to build a relationship there. She also explains that most of a bank's lending decision rests on cash flow and net worth, and that owners should know their credit history first.
“Look first for a local bank that can address your needs.”— Melinda Emerson, Do you have a Bank or a Banking Relationship?, Aug 2011
Do this
Book a 30-minute meeting with a loan officer at a local bank this week, before you need any money, and bring last year's cash flow numbers.