Often business owners will go to the bank and verbally present their cases. An incomplete package usually requires more legwork for the business owner after the initial meeting. Typically, after a business owner verbally presents the company s case to the bank, the loan officer still needs additional information. This follow-up information is gathered, presented to the bank, and processed piece by piece. This impedes the owner s momentum, and the impact of the first verbal appeal will fade over time.
Loan officers agree that a complete, well-crafted package goes to the top of the pile.
The Key Components Of A Loan Package First and foremost, make your package polished and professional. While substance is critical, an attractive presentation will get you the loan. Include graphs, charts and articles. The Exhibits Section Bankers are analytical by nature. The right loan package gives your loan officer something tangible to digest and pass on to the credit manager and other key decision makers.