Massachusetts Small Business Development Center Network
Western Regional Office


How to Convince a Banker


  • Provide a well-conceived business plan that spells out your products, markets, customers, suppliers, and competitors. Lay out the company’s goals and achievements. Address potential concerns. Include a comprehensive executive summary—one to two pages only.

  • Submit financial statements from at least the last three years. If the loan request is for a few million dollars or more, statements should be audited. Otherwise, tax returns may suffice. Projections on cash flow and earnings are helpful.

  • Identify what the financing is for. Working capital? Long-term capital for expansion? Equipment?

  • Specify sources of repayment.

  • Identify possible collateral.

  • Supply information on management, including experience, accomplishments, strengths and weaknesses.

Basic Banking Questions:

  • How much do you need to borrow?

  • How will you use the funds?

  • How will you repay the funds?

A well-written business plan will help you determine the answers to these questions.


For additional information, please visit the following links:

Checklist for First Business Advisory Session  |  Do You Have What It Takes to Succeed in Business?  |  Preventure Considerations  |  Develop a Personal Budget  |  Guidelines for a Business Plan  |  Business Plan/Financing Proposal  |  Financial Resources  |  Business Obligations  |  How to Convince a Banker  |  Marketing Plan Outline  |  Frequently Asked Questions  |  SBDC Request for Counseling