Successful Banking for Small Businesses
Robert B. Shortly was a chartered accountant in Toronto.
Given the current emphasis on the importance of small business in our economy, a book on this topic is very timely. Written by a chartered accountant with many years of experience in dealing with banks, it focuses on obtaining the best possible deal on loans and lines of credit from banks.
To this end, the author emphasizes the need to increase one’s knowledge of Canadian banking in order to assemble a proper banking presentation, using their “language.” The book is divided into six major headings: Requirements for Bank Financing, Security, Restrictive Covenants, Financial Analysis, A Typical Bank Presentation, and Alternative Financing; each has a checklist of do’s and dont’s. There is a brief list of ten commandments for successful banking, appendices (financial presentation checklist, typical financing presentation, and a typical banker’s loan offer letter), a glossary of technical terms, and a suggested reading list.
This book will appeal to the small businessman who has some ease with the financial aspects of his business but does not have specific training. It could also be of use to the young professional as a bridge between the academic world of university and the street sense of the experienced professional.