The best tool to obtain the necessary financing is that you have made a detailed business plan. Then you know your business.
Banks do not normally finance innovative ventures that do not have a product yet. They finance the operation of the business, e.g. buildings, work in progress, stock and installations.
Do not go to the bank before you have prepared for the meeting. The banker would like to see:
A cash flow budget shows your expected borrowing requirement in exact figures. Based on your personal, establishing, and operating budgets you can make the cash flow budget. Maybe you have to buy an accountant to work it out for you – it is a bit difficult to make.
To grant your company a loan the bank will evaluate:
Can you stand an evaluation?
Hard work beats talent when talent does not work hard.
- Tim Notke - no information about him