Banking 

The criteria for loans varies from consumer to consumer and often varies quite a bit from one banker to the next at even the same bank! However here are some rules of thumbs to give you an idea of your chances of getting a loan.

Before giving you a bank loan, bankers look at character, credit and collateral. Character means not having a criminal record so that the banker  feels confident that you are not going to suddenly disappear. A clean credit history is important.  Bankers like good character and good credit, but they live for solid collateral.

Getting a loan for a new business is tough Fixed assets such as machinery or buildings can almost always be financed Current assets such as inventory or goods in process increase your loan chances 2+ years of profitable operation greatly increases your loan chances The larger the owner's investment in the business the better your chances of getting a loan Loans to small corporations will often have to be personally guaranteed by a shareholder It is difficult to get loans to offset operating losses It is usually possible to get a loan to modestly expand a profitable business

How to get the bank's money, even when the bank says `no!`
Banks have much more lenient standards for lending to consumers than to businesses. So what you can do is borrow the money from the bank as a consumer and then turn around and personally invest the funds in your business. Just make sure that you never lie how about you are going to use the proceeds on a loan application. For example you could apply for a home equity loan to tap any available equity in your house. Then take the funds and invest them in your business. The bank feels safer because their statistics show that home equity loans or much more likely to be repaid than loans for brand new businesses. No equity in your home? Maybe you can get a car loan?

Getting an appointment with a bank
Don't just show up in person--first make an appointment by phone. Ask the receptionist in the bank or the loan department for the name of the appropriate person who would handle your loan request. Of course it would be better, but not necessary, to get a referral from a friend or advisor such as your lawyer or accountant. When you get the name of the appropriate loan officer simply ask for an appointment. Don't offer any more details over the phone, unless the loan officer requests them. The more details you offer over the phone, the greater the chances you won't get the appointment at all. Sound confident. Sound matter of fact. Sound like you don't even need the money... that's the kind of person that loan officers like to lend to.

                                                                                           Topp