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able to repay the equivalent of the amount Broadly speaking,
overdraft from money that you require to before meeting your bank
owed to you. Should you borrow. In certain manager, you should be
require a loan to buy a circumstances the bank asking yourself some key
specific item, repayment may ask whether you questions.
will normally have to be have any security - for _____________________
made regularly out of your example, life assurance What type of business do
policies, land and
income. you intend to start - and is
property, business assets
it likely to succeed?
What security will you etc.
_____________________
put up to minimise the
Do you have the personal
bank's risk?
qualities needed?
No bank will lend you
Will you need money to
money if the manager establish or expand your
thinks that you will have business?
What will the bank
problems repaying, no
_____________________
expect from you?
matter how much security
Do you need the bank to
If you need to borrow
you put up. Businesses,
lend it to you?
money then your bank
sadly, can fail for all sorts
_____________________
manager and your
of reasons - and the bank
If so, how much?
will want to recover any professional advisers
_____________________
finance they may have lent need to understand how
And when?
you. you see your business
_____________________
Your 100 per cent cornmit- developing. They can
How are you going to pay
ment to the business is then assess the viability
it back?
essential. of your plans and
Part of that commitment is forecasts and give you Do you have any security
the level of financial advice and practical help. you could offer the bank?
investment that you are But, first, what does the Your bank manager will
going to make. Normally bank expect from you? expect you to know the
this should be the
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