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11 April 2008

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I wrote this blog on the banker's acronym CAMPARI in April 2008 and mentioned the credit crunch.

Little did I know how bad things were going to get in September 2008 when it looked as if the global finance markets were going to crash.

In the UK, the government stood behind two of our biggest banks Royal Bank of Scotland and Lloyds TSB.

Since then the stories I hear are that the banks have become much more risk averse about overdrafts and loans to small businesses - what is it about shutting the stable door after the horse has bolted?

If you are trying to borrow money in this post credit crisis period while the banks are repairing their balance sheets, it will be tough.

That puts the onus on you to prepare your loan justification with more care and more sensitivity to the banks. CAMPARI is an essential element of that justification.

Yes it is galling that the banks have been rescued despite the greed of the bonus culture while thousands of small businesses have gone under.

Rob Warlow has now updated The Secrets of Getting Your Bank Manager To Say Yes in a new book

"Loan Sharp: Get the Business Finance You Deserve" and you can get a copy from Amazon

http://businesscoaching.typepad.com/business_books/2010/05/loan-sharp-by-rob-warlow.html

Interesting - looking at my internet logs, this page was found by someone searching for

letter to a bank manager for a loan for a new business

My advice would be to make contact with your bank to set up the appointment and to send in your business plan ahead of the meeting.

That way, the bank manager has a chance to read your plan and apply a technique like CAMPARI to it, and ask questions where extra information is needed.

I have a great interview with Rob Warlow on how to get small business finance as a bonus for people who join http://YourProfitClub.co.uk as a silver member.

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