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No Wrong Questions: How a Lender Can Help You Take the Next Step

Starting or growing a business can come with more questions than answers - and that’s completely normal. You don’t need to have everything figured out before talking with a lender. A good lender is someone you can trust, confide in and ask as many questions as you need without ever feeling judged.

What advice would you give someone who has a business idea but isn’t sure how to take the next step?

My advice would be to focus on progress and talk to potential customers. Do not be so quick to pitch. Make sure you are listening to the feedback. Research the market, then start small by taking one action at a time.
Stephanie Hurd – Quitman Branch Manager

What types of business goals can a lender help with?

Business owners know and understand their businesses better than anyone. A lender’s role is to serve as a trusted partner and resource, asking questions that can help identify the best path toward achieving their goals. 

For example, does the business need a larger building, new equipment to increase production, or short-term funding to support operations while waiting for receivables to be collected? Ultimately, a lender helps the business owner fill in the financing gaps for a specific project or business needs.
Sid Wilkinson – Meridian Market President

What should business owners think about before applying for a loan?

Business owners should determine how much money they need, how they will use the loan, whether they can comfortably make the payments, their credit history, and which loan type best fits their business goals.
Shane Steckler - Vice President of Lending – Madison County

What should a business owner bring to their first conversation with a lender?

A business owner should first bring their business plan to the lender. It does not have to be long. It needs to include the “who”, “what”, “how “and “how much” the startup cost will be. You will also need to include the first 90-day goals.
Stephanie Hurd – Quitman Branch Manager

What questions should a business owner ask when considering financing?

The life of the asset they are funding should be equal to less than the repayment of the loan, while producing enough profit to make the investment is worthwhile for business owner.
Sid Wilkinson – Meridian Market President

How can a lender help a business owner decide which financing option fits their needs?

I would first review the financing situation, discuss the goals, explain different financing options, compare costs and repayment terms, and ultimately recommend the loan or credit product that best matches the owner's needs and ability to repay.
Shane Steckler - Vice President of Lending – Madison County

Whether you’re exploring a new business idea, planning your next stage of growth or simply trying to understand your options, you don’t have to navigate the process alone. The right lender will listen, help you think through your goals and explain your choices in a way that makes sense. There are no wrong questions—and you’re always welcome to ask one more.

When you’re ready to move forward, start a conversation with a lender you trust.