Tips for Getting a Loan

Greg Morse, founder and CEO of Worthington Bank, co-authored Getting to "Yes" With Your Banker: A Practical Guide for Small Business Owners.

The book, published by Mike French, Inc., includes information about selecting a banker, building a relationship with your banker, what kind of loan you need, and the steps to take to maximize your chances of getting to yes.

Ten of the top tips in the book, as selected by Morse, include:

  1. You have to know how much money you need now.
  2. Create a business plan that is honest and viable and defines your objectives, possible pitfalls and your action plan for making it happen.
  3. Business owners need monthly numbers to figure out how they’re going to hit their projections. If you cannot measure you cannot manage.
  4. Never go in and ask a bank for 100 percent financing on anything, have some skin in the game.
  5. Have four people you can call on for advice without fear of being billed, friend your banker, an accountant, a lawyer and a doctor.
  6. Never be past due on a loan.
  7. Always retain some of your profits.
  8. To have deep pockets, you have to have short arms.
  9. Keep a clean personal credit report.
  10. Keep your deposits where you borrow your money.

"Almost every business needs financing now and then," Morse said. "This book will help you get the money you need now, at terms you can live with tomorrow."

One of the most important aspects of this informative book is its coverage of "tips, traps, and secrets." Morse gives additional insight into the secrets your own banker may not share with you.

To learn more about Getting to "Yes" With Your Banker, visit To purchase Getting to "Yes" With Your Banker click here.