Some advice required...

HuggyBear · #11 (**permalink**) 13-06-2008, 20:29

Quote:

Originally Posted by IP2

I don't know about you Peter, but I get quite a few of these each month and you learn not to trust them, I have no idea why banks pay so much credence to them, but we both know they do. A good bank understands their limitations and loans when it feels a vibe, a bad bank never understands these figures in the first place...no wonder we have a credit crunch!

Get a few of what? people who pluck sales figures out of thin air?

IP2 · #12 (**permalink**) 13-06-2008, 20:42

Quote:

Originally Posted by HuggyBear

Get a few of what? people who pluck sales figures out of thin air?

Probably was an inappropriate threat for me to discuss the matter with Peter W. I get sent a lot of business proposals and to that ends I see a lot of cash flow forcasts, totally not aimed at this thread or you HuggyBear. However if your sales forcasts are plucked out of thin air, can you justify them and if they are not, what are you basing them on?

HuggyBear · #13 (**permalink**) 13-06-2008, 20:48

I suppose you could say that they are educated guesses?

I can't think of a way to find out how i know how many computers break down and when...

Thinking about asking how long have people had there computer and how many times it has needed some "professional attention" since it has been purchased, which would give me an average pc life but then how could i translate that into repairs?

unless i create a virus and take over the world MUAHAHAHA!

Peter W · #14 (**permalink**) 13-06-2008, 20:50

I wish the banks would use their common sense more. Nowadays, most lending decisions are taken by central credit scoring offices, who have never even met the would-be entrepreneur.

IP2 · #15 (**permalink**) 13-06-2008, 20:57

OK I will let you and everyone else on here into a little secret that you probably all suspected all along...

Banks don't have any great means to test whether your figures are right, yes they will pick holes in things that are clearly wrong and it is best not to let them get that advantage if you want to borrow any money...but your average bank manager, has less business sense than most people on this forum. So if you provide a watertight case then you are in with a chance.