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Are you ready for a bank loan?

What should your balance sheet look like before your business is ready for a bank loan? Gary Groff, VP of Commercial Banking at New Resource Bank, gives his take on what banks are looking for from start-ups, and says it's "never too early" to start talking about your options.

"It's when the machine is already running, and you recognize that you can grow this business and don't want to give any more equity away, that you'd want to go to a bank that does asset-based lending (ABL) or might have some other unique facilities to help you scale," says Groff. 

 

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