Why Banks Won’t Lend to Your Business and How to Become Bankable

Send us Fan MailWhy do some businesses secure funding while others are refused, even when government-backed lending schemes are available?Recorded during the first COVID-19 lockdown, this solo episode examines what banks actually look for when deciding whether to lend to a business.Peter Boolkah explains why a government guarantee does not automatically make an unhealthy business fundable. Banks still need confidence in your figures, your cash requirements and your ability to repay what you borrow.If your forecast says you need 100,000 for 12 months, but the lender’s analysis suggests 250,000 over 18 months, your credibility immediately becomes a problem.You’ll discover:Why an interruption loan is not the same as a business bailoutWhat lenders want to understand about your businessWhy inaccurate cash-flow forecasts destroy confidenceHow poor financial visibility weakens a funding applicationWhy does blaming the bank manager solve nothingThe numbers every business owner needs to understandHow working in the business can prevent essential financial preparationWhy a crisis should force you to confront what is not workingHow to view your business through the eyes of a lenderThe lending schemes discussed were specific to April 2020. The guarantee percentages and programme details should therefore be treated as historical context, not current financial guidance.The enduring lesson is simple: a business that understands its cash, knows what it needs and can explain how borrowed money will be repaid is far more likely to inspire confidence.CONNECT WITH PETER BOOLKAHWebsite: https://www.boolkah.comLinkedIn: https://www.linkedin.com/in/boolkahInstagram: https://www.instagram.com/pboolkah/Facebook: https://www.facebook.com/BoolkahX: https://twitter.com/boolkahABOUT PETER BOOLKAHPeter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.His approach is direct, practical and built around one simple question:Do you own the business, or does the business own you?Learn more at https://www.boolkah.com