Law firms are no longer viewed by banks as copper-bottomed and so need to change their attitude toward their banks.
Before engaging with your bank, there is crucial internal groundwork that must be undertaken to engender confidence in the firm. Banks will expect evidence of comprehensive business planning, with clear business objectives.
When making a funding request, always be conservative. Focus on ensuring projections are realistic, based on reasonable assumptions, and factor in some headroom for margin of error.
Do not keep your bank at arm's length; ongoing communication is key. Always agree clear timescales on what is required on both sides. If possible, include the bank in your business planning process.