How the banks view business lending

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Running Time: 9:30

Date: 01/11/2014

Getting a business loan from a bank is still difficult in these times of economic uncertainty - but there are ways to improve your chances.

Have you been successful getting a business loan from the bank recently? If you have, you’re ahead of the pack. Because according to Bank Doctor Neil Slonim, only the best performing businesses are managing to secure loans these days. That's because the majority of bank lending is for property which is quicker, easier and cheaper for the banks.

But Neil has some advice to increase the likelihood of a businesses getting a loan from a bank, irrespective of the size of the bank. He says businesses must run a predictably profitable business with proven cashflow and be able to illustrate this to the bank. Maintain a good relationship with your bank, Neil advises, but also have a plan B in the event the bank isn't prepared to support you in a time of need.