To experience growth in your business most business owners will need the support and backing of banks, lenders and investors at some time in their future. In other words, your lenders can be a strong, silent partner where much of the capital, insight, and assistance will come from to help your business grow strong and profitable. Just as in nature where plants and trees require water, nutrients, light and warmth to grow; your business can obtain from these ‘silent partners’ (lenders): insight, knowledge, guidance, education, information and communication (water); cash and capital (nutrients); encouragement, acceptance and nurturing (warmth); inspiration and vision (light).

To get their support and backing they have to have confidence in you and your company. The word confidence denotes trust, persuasion, assurance, belief in, courage, credibility and affirmation. Are these words or phrases your lender would use to describe you and your business?

As a former business lender for over 30 years, my basic perception of a borrower was influenced by a book (“Banker’s Guide to Financial Statements”) I bought the first year in my lending career. One sentence changed my thinking and perception towards all future borrowers and I’ve quoted it to borrowers thousands of times. The book said, “lending money is 50% confidence in the borrower to do what they said they would do.”  Among other things confidence meant my ability to trust and put my faith in the financial information provided by the borrower. Many times I put my career on the line because I had confidence in the business owner and the numbers they supplied me. 

In setting about to create confidence in the minds of your lenders it is important to consider their frame of reference. Lenders are financially oriented people. It’s difficult to create confidence in lender’s minds without a strong accounting and financial function in your business providing them insightful and relevant information on a frequent basis.

Most business owners are very conscious of the confidence their employees, customers, prospects and suppliers have in them and their businesses. In these economic times confidence of lenders in you and your business needs to be added to that list.  

During these economic times it is vital to your business that lenders be able to have confidence in you and your business. I wrote “Romancing the Loan” as a guide to help you gain the confidence and support of your lender. To obtain the secret combination to your lender’s vault go to http://www.createspace.com/3485208 and purchase your copy of “Romancing the Loan”.