In this read, Karen E. Kline interviews James R. Coughlin, a businessman with over two decades of commercial banking experience. Coughlin provides us with a detailed perspective on how to really boost your odds in landing a loan from a bank to help expand your small business. Some of the strategies include establishing different relationships with multiple banks in order to have more than one lending source to your small business.
Further in the article we also learn some techniques on how to carefully communicate your business plan in order to avoid loan rejections from banks. Kline also questions Coughlin on how to treat rejections from a bank and what to learn from them when trying to expand your business. You can check the article out, here.