Page last updated at 22:59 GMT, Wednesday, 18 May 2005 23:59 UK

Get inside your bank manager's head

Bank
Seeing your bank manager about a business loan need not be too scary
Coming up with a decent business plan is worthless unless you can secure the financial backing to get your business off the ground.

In most cases people ask their bank managers for help, but how do you best go about it?

Paul Lynam, chief executive NatWest & RBS Business Banking, reveals the questions you are most likely to face.

QUESTION Dom Gallagher, UK
When people come to you for a business start up loan, what questions should they be prepared to answer, assuming they do have a business plan?

ANSWER Paul Lynam, chief executive NatWest & RBS Business Banking
Preparing a business plan is a great place to start, as this will enable you to put your ideas into a format that can help you decide how viable your business proposition is.

This will prompt you to ask yourself questions about the strengths, weaknesses, opportunities and threats of your potential business.

In addition, it will provide you with a working document that can be used to demonstrate the commercial viability of your business to your bank manager.

You would need to demonstrate your experience, knowledge and ability in successfully managing the business.

As part of this planning process I would suggest you consider and be prepared to answer the following questions:

  • How will this fit in with your current lifestyle?

  • Do you have the right qualities?

  • What is your unique selling point?

  • How will you market your business?

  • Will you make a profit?

  • What is your cash flow like?

  • What are your set up costs?

  • How will you fund the venture?

  • Will you need to employ staff?

  • Who and where are your competitors?


    To ask Paul Lynam a question about small business banking, use the email form below.

    Alternatively you can email another member of our small business and entrepreneurship panel of experts by clicking on one of the links on the right.

    Name
    Your E-mail address
    Country
    Comments

    The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide.




  • RELATED INTERNET LINKS
    The BBC is not responsible for the content of external internet sites


    FEATURES, VIEWS, ANALYSIS
    Has China's housing bubble burst?
    How the world's oldest clove tree defied an empire
    Why Royal Ballet principal Sergei Polunin quit

    BBC navigation

    BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

    This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

    Americas Africa Europe Middle East South Asia Asia Pacific