Playbook / Lessons / Applications: accelerator, grant and lender
Cash-flow businessBe ready to defend your numbers in person
A state small-business development center lists steps toward a loan, starting with preparation: a cash flow forecast, balance sheet and profit and loss, plus a face-to-face interview. It also covers knowing your credit score, borrowing for the full need, showing your team and taking a no in stride.
“You also need to be ready to defend your application in a face-to-face interview.”— Rhode Island Small Business Development Center, 8 Steps to Landing a Small Business Loan, Nov 2019
Do this
Rehearse out loud today a two-minute answer to how much you need, what you will spend it on and how you will repay it, and have a friend question you on it.