THERE comes a time in a business’ life when investment and growth plans mean that additional funding is needed, and many businesses choose to borrow from their bank. How can a business ensure that it presents a convincing case to the bank and secures the right finance?

Barclays offers the following tips for businesses meeting their bank manager.

First of all, you will need a good idea of the objectives for your business, as well as how you intend to cope with any eventualities, all clarified in a business plan. This gives the bank manager the confidence that you have thought about the development of your business.

Present yourself positively and demonstrate your commitment and enthusiasm for your business.

Demonstrate that you have the appropriate experience, training and drive to plan and run your business effectively. Your up-to-date CV will provide evidence of your abilities.

Show that you have the ability to produce up-to-date and accurate financial information. Explain in detail your reason for seeking bank funding. Ensure that you establish the correct amount that needs to be borrowed, allowing for unexpected expenses.

Be clear about the source of repayment. Develop cash flow and budget forecasts that accurately show what you expect to happen to your business and outline where you expect repayments to be met.

Take steps to protect the repayment of your loan, in case you are unable to meet the cost of borrowing from normal trade due to unforeseen circumstances. This may mean taking out insurance.

Bank managers look first and foremost at the character, ability and experience of the business owner and the cash-generating capacity of the business itself.

Barclays supports more than 788,000 businesses in the UK, from start-ups and sole traders to the very largest global businesses.

It has a wide range of products and services to solve issues and make life easier for its customers.

To find out about opening a Barclays award-winning Business Account, call the New Customer Team on 0800-015-1608, visit barclays.co.uk/startwithbarclays, or visit any branch.