Bank Financing

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<p>How do I convince my bank to lend to me?&nbsp; There&rsquo;s an old saying, &ldquo;The time to get a banker is when you don&rsquo;t need one.&rdquo;&nbsp; That&rsquo;s because most people wait until there&rsquo;s a severe cash flow crisis before they contact a banker to&nbsp;obtain a much-needed loan.&nbsp;Unfortunately,&nbsp;a retailer's&nbsp;chances of getting a loan are greatly diminished if the store is unprofitable and losing money.&nbsp;But even the most profitable music stores can put&nbsp;themselves out of business if&nbsp;they don&rsquo;t have the financing needed to acquire inventory, buy computers to improve office efficiencies, or make leasehold improvements to attract new customers and keep the&nbsp;current ones returning.</p> <div style="margin: 0in 0in 0pt">&nbsp;</div> <div style="margin: 0in 0in 0pt">Just think about the nature of instrument rental programs.&nbsp;By the time a fall-dated invoice is due to a supplier, most music stores have very little rental income to pay those invoices, even though rental programs are usually very profitable.&nbsp;Bank and vendor financing is critical to the success of any music store&rsquo;s rental program.</div> <div style="margin: 0in 0in 0pt">&nbsp;</div> <div style="margin: 0in 0in 0pt">Watch this video to learn how to entice your banker into lending you the money you need to grow your business.</div> <p>&nbsp;</p>