Taking a deep dive into what Banks/Lenders look for when Entrepreneurs want to build their businesses with C.L. Cummings, the President of Tompkins State Bank.
C.L. prepped the CEOs on what questions they would be asked if they were to approach a bank for a loan:
Tell me about your business.
How much do you want to borrow?
How will you pay the loan back?
What collateral do you have?
And what is your business plan?
He also touched on the Marketing topic by sharing the 4 P’s:
Product, Pricing, Placement, and Promotion.
As this class of CEOs is beginning to put together their business plans, and will soon have their individual “Banker’s Day,” this was an invaluable site visit.
Thanks, C.L. for “loaning” your time and knowledge to the CEOs!