Business Report

Ratio Workout For the New Year Before you meet with your banker to request a loan or a line of credit, you'd be smart to master the six key financial ratios the banker will use to analyze your creditworthiness. You should know how your ratios compare with national averages and be able to explain how and whether your store's financial performance can be brought into line with them. (See box below.) If you find the numbers daunting, consider having your accountant coach you before you meet with your banker. Most credit-request meetings take just 15 to 20 minutes. That may seem too short to make your pitch, but if you're prepared, it's enough time. “There's no need to get into a detailed conversation,” counsels Joe Romano of the North Bergen, N.J., management-consulting firm Scull and Co. “But you've got to be very familiar with the numbers and understand how you'll pay back the m
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