If everybody needs bank services one day, a young entrepreneur does not necessarily know how to address a banker.
This note is aimed at giving entrepreneurs tools to prepare a meeting with a banker through questions he will ask himself and will ask you too.
- 1) Who are you? What is your project?
- 2) What do you want? In what way will the project be useful for youractivity?
- 3) Is this what you really need, regarding your equity?
- 4) How will you pay back? How will this loan generate revenue?
- 5) What guarantees can you give? How far are you ready to get involved?
To help you understand the context the banker works in, a few extra elements are given in the form of questions/answers, such as the main banks structure, some advice about how to get a credit, or helps for loans.
Two specific cases will show you that all experiences are different and that there is not only one way to get well prepared.
At the end, a few extra resources are added to the note.
Through this note, you are invited to consider the banker no longer as a judge who might respond your demand with “yes” or “no”, but as a partner who, if you are well prepared, will be able to help you in your project.
Geoffrey Bailly student at HEC Entrepreneurs 2017-2018