Business Growth1 min read
Preparing for a Conversation With Your Lender
Whether you are seeking a loan or an overdraft, clear financial information helps lenders understand your business and your request.
By the Meridian advisory team (concept content)
Lenders want to understand three things: what the business does, how it performs and how it will repay. Preparing clear answers before the first meeting makes the conversation more productive.
What to prepare
- Recent financial statements and up-to-date management accounts
- A cash flow projection showing how repayments will be met
- A clear explanation of what the funds are for and the expected benefit
- Bank and mobile money statements for recent months
Each lender has its own requirements, so ask in advance what they will need. Present realistic assumptions and be ready to explain them; credibility matters more than optimism.
This article is concept content for a fictional advisory firm. It is general information, not professional advice. Any examples are illustrative and do not describe real clients.
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