If You Need Bank Financing, it Pays To Be Prepared
In 2018, the US Department of the Treasury invested approximately $3.9 billion in 281 community banks across 47 states and the District of Columbia as part of the Small Business Lending Fund. Despite the availability of these funds, however, many small business owners have discovered the hard way that securing bank financing is not an easy task. If you’ve tried–and been unsuccessful at–obtaining bank financing for your small business without the help of a trusted advisor like us, you may be wondering where you went wrong.
Banks are not in the business of handing out money to everyone who asks. They are evaluating your ability to pay back the loan by examining a number of factors. Whether you need money for startup costs or expanding your business, understanding what a bank wants and how to prepare for it can mean the difference between securing the financing you need or having to scrape together cash from other sources.
How we help you secure bank financing
The first step we take is to make sure we understand your business and what you are trying to achieve. Next, we take a look at financial performance and projections and identify potential sources for financing. The final step is to work with you to prepare a successful business loan proposal that includes the following services:
- Executive summary
- Pro forma cash budgets
- Business financial statements
- Owner’s personal financial statements
- Lender introductions
Are you ready to get the financing you deserve?
Obtaining bank financing for your small business is a major decision, but if you’re ready to take the next step, we are here to help you achieve your goal. Call today or fill out the contact form to speak with an experienced Employee Retention Tax Credit Experts firm you can trust. You’ll be glad you did!