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Bank Of Utah
How to Improve Your Chances of Getting Approved for a Loan
February 12, 2013
Our very own Scott Parkinson was featured in NerdWallet's CEO series on business lending:
“After business owners have researched the lending landscape and identified a business lending team at the financial institution best suited for them, what can they do to be the best candidate? CEOs share their observations and advice for best practices.”
“In response to the statement: ‘A good financial foundation is a must. Pay attention to your financial statements; if you don’t have the experience of running a financial organization, hire someone who does,’ Scott Parkinson replied, ‘One major issue that business owners often face is that, despite knowing the ins-and-outs of their industry and specific business, they often don’t have an equally firm grasp on their financials. [….] A business should also have a team of advisors that include a lawyer, a CPA and a banker.’
Read some of the other responses here: getting approved for a loan. To learn more about getting approved for a loan, visit Bank of Utah's Business Banking website.