If it's time for you to have a meeting with your lender, here are some preparation tips from Tom Vincent, senior financial services executive, AgStar Financial Services.

  • Be prepared. Review the business' status over the past year or time period since you last met with your lender.
  • Review what has happened and why. This shows that you are on top of things and are taking any necessary action.
  • Have a business plan in hand. Then you can compare your actual production results to those outlined in the plan.
  • Use outside resources, such as a certified-public accountant, when contemplating a significant change.
  • Bring accurate production and financial records with you.