Approaching a bank for loan is just like walking up to a lady to woo her. Definitely, there are things that will sweep her off her feet about you and there others that will be a total turn off. It all depends on your total package.
Have a purpose and be Specific
How much do you want? What do you want it for? How long do you want it for? How do you intend to pay back?
You must understand that no bank will finance your lifestyle. That is, no bank is ready to give you loan basically for you to change your wardrobe, or to tour the world. A bank is a business establishment and every kobo means a lot. They therefore want to put their money in a place they are sure to yield interest both for the borrower and for themselves. Don’t say I want the money to import goods but if the importation does not work I can use it for production. This will only show that you are confused and without a vision.
Be Confident and Knowledgeable
If you are a business man or woman or whatever you do, you must have a good knowledge of it. Don’t be half baked individual and expect a serious minded organization like a bank to part with their cash to you. You must show that you know and be confident about it. Do your homework properly, make all the research you need to, have the experience that need be and in cases where you don’t have the experience (starter) make your research. Confidence comes with knowledge.
Say the Truth
Please, do not bother trying to deceive the bank. You will only end up wasting your time and as the case may be, putting yourself in trouble. Do not fake anything, do not tell a lie about anything, in that way, you will help yourself and help the bank help you.
Integrity is key. It is the watchword of the bank. They always always can get your track record and so, make sure that all along you have been a person of good integrity. Defaulting in Bank and running to Bank B for a loan will not save you. They always do their credit search and when found incompetent, you will be rejected. Therefore from the get go, always endeavor to keep a good track record with the banks.