A bank will scrutinize your past business performance. Are you prepared to answer the tough questions when your banker asks them?

Loan officers tend to focus on historical finances, as I noted in my last column, and for good reason: They provide a track record of your business’s performance and offer lenders a glimpse as to what it might look like in the future. This is why it’s important to be prepared to discuss your company’s financial track record, especially within the last two or three years, and any significant changes that have occurred during that period when seeking a bank loan.

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