Banks are an important source of business funding. They boast the broadest infrastructure of any funding institution with commensurate pockets to boot. Banks are also notoriously risk averse and lack the appetite to finance start-up ventures, unless, of course, you can meet their prohibitive collateral requirements. Bank loans are more suited towards established businesses, which have at-least two years trading experience, predictable income, solid assets and good systems.
If you are just starting out and lack experience, security and predictable income, you will find the business finance processes of Banks as major hurdles. That said, most major banks have divisions that assist small businesses with their funding requirements and if you meet their criteria, they are able to provide you with support and infrastructure that cannot be matched by anyone else.
You can contact the business finance units of the following banks by clicking on the links below:
