Most small businesses turn to banks for credit to smooth out their cash flow, regardless of the economic environment. Securing lines of credit, however, remains a challenge for many companies. Although banks have raised their standards, small businesses need not throw in the towel. Here are three ways to make your company "bankable."

1. Tighten up your books. The value of good financial reporting cannot be understated. By being able to demonstrate profitability and a strong balance sheet, you reduce the ambiguity that is often present in a small business’s financial statements. Banks look to manage their risk and increase their predictability with the loans and lines of credit they give. Owners who can do that for them will stand a better chance of getting approved.

2. Showcase your strategic thinking. Give financial institutions an idea of how your strategy will help your bottom line. Broad brush strokes won’t cut it here. Provide specifics as well as the quantitative and qualitative reasoning behind it.

3. Get some help. Although most small businesses don’t require a full time chief financial officer, many should consider hiring a reputable, outsourced accounting firm. The right one will give you a better understanding of your company finances.

This article was written by Eric Basu and published in Bloomberg Businessweek magazine.