If you want the best for your business, surround yourself with like-minded individuals. As a business owner, seek support from a business coach that has expertise in specific areas. Your CPA plays a critical role for you, but don’t forget about others. Enter your friendly neighborhood business banker.
The Importance of a Good Banking Relationship
Four Key Indicators That Help Bankers Evaluate Your Ability To Repay
- Cash Flow – This is a key indicator of your ability to repay the original loan. If you have strong cash flow, the chances are high that you are able to repay your loan.
- Collateral – When a loan is originated, no one wants the loan to be foreclosed on and collateral seized. However, this is required as security.
- Credit – Another key indicator is your credit history and track record to meet prior financial obligations. If you have a good credit score, you’ll be given more favorable treatment in both the receipt of a loan and the interest.
- Character – Your relationship with your banker allows them to consider your integrity. Your actions should meet or exceed the expectations your words establish on a regular basis.
If you’re looking for a remedy to your tax preparation blues, call Scott A. Kunkel, CPA PC today in North Richland Hills at 817-498-1040 to have a chat.