Bankers Love Data
If there’s anything that impresses a potential lender the most, it’s signs that you’ve done your homework, not just providing information on yourself and your finances, but also information about your business potential.
Your business plan will include projections of your expected financial performance, but presenting additional data on your industry, your market, and local economy will certainly make a favorable impression on your banker.
For information on the nuances of your specific market, you can communicate with your industry trade organization and review their most recent publications and research online. For information on specific state and local economies and potential economic development agencies in your area, this list can help you locate a wealth of data.
In addition, there are several sources of data from federal government agencies that may be useful:
- United States Census Bureau
- U.S. Bureau of Labor Statistics
- U.S. Bureau of Economic Analysis
- U.S. Economics and Statistics Administration
You’ll also find helpful information from the Small Business Administration and The Federal Committee on Statistical Methodology (FCSM).