Securing Capital For Your Business Financing Requirements Is All About Time

When Seeking Capital For Business Financing There Is A Relationship Between Money And Time

One of the first things to realize about money is that there is almost an infinite supply of it on a global basis.

The number of potential sources of financing are too numerous to consider over several lifetimes.

So if you have a business proposal with a solid value proposition, there is likely going to be some one or something out there that would be interested in providing business financing to you.

That’s the good news.

The bad news or perhaps more unexpected news most business owners and managers either don’t want to hear, or find out about the hard way, is that there is a direct time relationship between the money you’re looking for and time it takes to locate and secure it.

For traditional forms of business financing for things like equipment and real estate, the time period can be a matter of weeks to a month.

For securing government grants and loans, the time period can take several months.

Equity capital can take months to years.

The more unique your value proposition, the longer its likely going to take to find the right fit.

And remember that all this is predicated on having something of value to leverage in the first place.

The point here is that while there is lots of money out there, it’s going to take time, sometimes a lot of time to secure the capital you seek.

Common thinking is more on the lines of the opposite point of view whereby the average business owner or manager assumes that securing capital will be a fairly straight forward process that can be successfully completed without any advanced planning, regardless of the use of funds.

My own unofficial statistic on the subject of time and money is that over 80% of all business financing activities are unplanned events.  What I mean by this is that the quest for capital typically is not started soon enough due to the misconception in society that capital funding will be easy to come by.

At the same time, I’m not saying it can’t be a fast and easy process, I’ve just never seen it, especially when there is a significant amount of financing involved.

Sure, you can get a piece of equipment financed and funded in 24 hours if all the conditions are in order, but that’s really just a personal financing model based on credit score, reported income, and personal net worth.  For just about anything else, business financing is more complicated and takes time to locate and secure.

When I say an unplanned event, I basically mean that all aspects of a business project tend to be planned out and managed in steps except for the money part,  which is basically assumed to be available when required, ergo an unplanned event.

And while it may seem logical to build out a business model and then look for capital, the opposite tends to be true.  Instead of just working back from the market to take advantage of  a business opportunity, a business also needs to work backwards from sources of capital to make sure that the resulting business model not only lines up with the market but also with the money.

By taking this extra step in the early days of planning, the business approach can be modified to make the overall opportunity more “finance-able” or more appealing to targeted sources of capital.

But this is a time versus money trade off.  That is, should we spend all our time and money developing a “if we build it, the money will come” approach, or should we invest time, energy, and scarce resources trying to plan out the path to capital funding from the beginning only to potentially find out later that it was all unnecessary work when the capital ends up being readily available?

My vote is on the latter as I’ve seen way too many opportunities or financing requirements crash and burn because the deals or situations were not in a “finance-able” state for targeted lenders or investors to do anything with, or the money that was available was not sufficient and caused the business model and time lines to be altered, creating greater risk on the success of the overall project.

That’s the thing about the time and money relationship.  While you may have something of value that can attract capital over time, can you survive until that day comes, or will you run out of time?

Securing Capital Can Be All About The Story

Telling A Good Cohesive Story Can Make The Difference Between Securing Capital or Coming Up Short

When going through the process of securing capital, don’t underestimate the power of a good story.

Even though any application for business financing is going to focused on the numbers, the actual background story is what ties everything together and can really make or break the deal.

When looking for business financing, the back story has three basic components:  How we got here; exactly where we are right now and why we need more money;  our plan to manage the business on a go forward basis and provide a return on the capital we are seeking.

From a numbers point of view, the story needs to tie past, present, and future together seamlessly.  To often, the write up that accompanies an application is disjointed from past through future, leaving the reader scratching their heads and becoming less enthused with the deal by the minute.

As an example, the future projected financial statements do not reconcile properly with historical results, leaving gaps in the logic that was used to create them.  If there is a logical reason to make radical changes to the future expected results, then significant explanation and support needs to be included.

Moving from the quantitative to the qualitative, one of the key components of any good story is a description of the management team, their individual and collective experience including their track record of previous successes related to helping other organizations meet or exceed their goals and financial expectations.

When it comes to securing capital for acquisitions or start ups, as much as 70% of the overall lender or investor decision making criteria can be based on the strength and abilities of the management team as well as their stated plan for moving the organization forward.

In many cases, deals are pressed for time and the story either gets passed over completely or grossly minimized in order to save time when getting something in the hands of the capital provider to assess.

The feeling can be “just get me in front of the lender or investor, and I’ll tell a brilliant story”.  While a great presentation can have a major impact, there are at least three reasons why something in writing at the start should not be overlooked or simplified.

First, the written story with the initial information package serves as a first impression that actually gives you the opportunity to make a killer presentation.

Second, by providing a well written story that ties everything together,  management is demonstrating their skill and knowledge, further adding to the credibility of the deal.

Third, a presentation that effectively works off of and expands the written story demonstrates that the individuals asking for the money actually were involved in the written plan versus something that was outsourced to a gifted business plan writer who knows how to hit all the hot buttons and strategically embellish certain things to create a more effective marketing piece.

When I worked as a lender, I had a rule that the larger the deal,  the more often I would need to interview the key participants over a period of time.  The key reason why I did this was to make sure the story held together.

In the initial stages of a deal, the higher potential applicants tend to be very well prepared and well polished when delivering their story.  By requiring several impromptu discussions, my goal was to see if the story stayed the same under circumstances where every word was not measured and excessively rehearsed.

Not surprisingly, many cases could not hold water over time.  Their stories developed holes and inconsistencies which ultimately signaled a lack of disclosure and/or a lack of a solid plan.

For those that did hold together, the business financing decision became much easier to make in their favor.

Without a solid story, securing capital can be very challenging indeed.

The Cost Of Capital Is Directly Tied To Risk

In Almost All Cases, Risk and Cost Of Capital Are Closely Related

If you have ever studied the theory of finance (and managed to stay awake through it), you will have been exposed to yield curves, CAPM , risk free rate, weighted average cost of capital, term structure of interest rates, and so on.

Basically, the more risk that’s present in an application of capital, the higher the related cost of capital.

Yet, I continually see business owners that are trying to change the equation while searching for low cost capital with a high associated level of risk.

The lowest interest rates are reserved for opportunities where the lender is well secured, there is well established cash flow, excellent credit, and a reasonable amount of total debt load.

Rates for both debt and equity capital will go up as these investment characteristics become less excellent.

This is pretty straight forward stuff that most people would understand and agree with.

However, the context of society’s basic understanding on the cost of capital is based more on mortgage rates and car loans than anything else.

Business financing can be a whole different ball game due to the higher levels of inherent risk and when we speak of risk, its risk of lender or investor loss.

From a lender or investor point of view, risk has everything to do with the liquidation pathway which stated in different terms means “how do I get my money back if things go south”.

For residential mortgages, the lender puts the house up for sale and gets the funds back in 3 to 6 months, depending on the market and the  foreclosure procedures in play.

For a commercial mortgage, the same applies, but the market can be a lot thinner in terms of buyers, and the time period for sale could turn into years which will require payment of property taxes, maintenance, utilities, etc, which all reduce the proceeds and increase the chance of loss.

Higher risk equals a higher cost of capital.

When you look at unsecured loans based on stated income and credit, the risk is again higher.  For in the event of a failure to pay, what’s the likely hood of the lender getting any money back?

Equity capital is significantly higher than debt capital in most cases due to higher risk of loss by the investor.  Equity investors will demand a wide range of returns, but the range can be as broad as 15% to 30% or even broader … depending on the risk.

Yet I’m still amazed when medium to high risk ventures are convinced they should be able to secure low risk capital.

Unproven business models and business start ups for example are not prime plus type risks.

Many times start ups and unproven ventures get upset with me when I propose relevant business financing solutions that they view to be high or even extortion.   I have had many discussions with entrepreneurs seeking 8% to 12% money for a 18% to 25% risk.  They have nothing to offer in terms of security except the future cash flow projections of their business idea or project.

I then provide the best analogy I have to try and bring them back to earth which is as follows.

A private investor will place second mortgages for 12% to 14%, fully secured by residential properly, providing a higher than normal rate of return due usually to the bad credit of the borrower.  Their relative risk is small, although they will have to be prepared to deal with some foreclosures, but the profit margin is still very good.

So if these guys can get 12% to 14% all day long secured by real estate, why would they ever invest in a venture looking for even a lower rate of interest and not offering any real security except the promise of future profits?

Some times I get through, but most times I don’t.

I guess hope does spring eternal.

Click Here To Speak Directly To Business Finance Specialist Brent Finlay

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There Are 4 Reasons To Secure Capital For Your Business

Can You List The Four Reasons Why Someone Would Need To Secure Capital?

There are 4 and only 4 reasons to secure capital for a business.  Each reason or purpose for business financing will impact the type of lender or investor to approach as well as the manner in which you approach them.

The 4 reasons for seeking more capital for a business are as follows:

Start Up.  At the commencement of a business entity or operation, funds may be required for working capital, fixed assets, intangible assets, leaseholds, inventory, and so on.

Growth.  An existing business looking to expand may require capital to increase its capacity as well as the working capital required to fund a larger volume of activity.

Acquisition.   When one business acquires another, it must purchase either the shares or the assets of the target business with a combination of cash and external capital from debt or equity sources.

Debt Consolidation and/or Re-organization.  In times of business downturn that create financial losses, capital must be injected into the company from debt or equity sources to cover the costs of operation and allow the company to continue.   Another scenario would be when the term structure of the debt outstanding does not match up against useful life of the assets securing it.  In these cases, a debt restructuring will take place to balance out the balance sheet. A third example would be when outstanding debt exceeds the leverage against equity allowed by the lender, requiring a debt reduction and/or an infusion of investor or shareholder equity.

Each of the reasons to secure capital or apply for business financing have their own lending and investing criteria.  A business manager or owner seeking incremental capital would be well advised to gain a greater understanding of what is required for each and work towards identifying lenders and/or investors that are relevant before proceeding too far with any inquires to secure business capital.

We will get into more of the specific for each of these uses of funds in future posts.

How To Cut To The Chase When Securing Capital – Part II

Here is The Next Installment in How To Increase Your Odds Of Securing Capital From The Outset

In the last installment, we discussed the importance of starting off your initial  meeting with a prospective lender or investor by cutting to the chase and quantifying exactly what you’re looking for in terms of financing and what it will be used for.

Once you’ve given the lender or investor enough information to initially qualify their potential interest in the deal, you’re either going to get a quick No, or they’re ready to hear more.

Focusing on the later, you now want to continue your presentation.

The second area the lender or investor wants to understand is your future projected financials (cash flow, income statement, balance sheet) and the related assumptions that drive the numbers.

As an example, virtually everything in the business can be associated with a time frame and cost, so the financial statements become a powerful means to convey the business story you’re trying to tell.

The quantification of market size, competitors, market share, price, margin, operating costs, and so on, all impact the financial statements directly or indirectly.

And lets face it, this whole process is all about money and making more of it, so its important to show your potential source of capital funding how they will get their money back, over what time, and the potential return they can expect.

When you can quickly show how you have quantified all the relevant information into income, balance sheet, and cash flow, it gives the lenders and investors something concrete to wrap their heads around while proactively answering a lot of the questions they will have before they even ask them.

This information can be highly summarized.  Its just important that its covered off to maximize the interest level of those involved.

Too often, the business owner or entrepreneur is so completely focused on their sales pitch of what they’re trying to accomplish that the underlying financials are either glossed over, or not really addressed at all.

Remember that the more you can relate what you have to present back to dollars and cents, well quantified and supported assumptions, and realistic time lines, the more seriously you’re likely to be taken.

There is definitely a balance to be had between the marketing side of a presentation and financial projections.  Just make sure you know your numbers cold so that where ever the discussion goes, you will have the answer on the tip of your tongue.

Cut To The Chase When Securing Capital For Your Business

Be Direct And Specific When Trying To Secure Business Financing

Before you speak to a debt financier or equity investor about securing capital, you should have gone through the process of pre-qualifying them to some extent to make sure they are relevant to your business financing requirements.

When you go to speak to a source of business capital, its their turn to qualify you and the sooner you allow this to take place, the faster you’ll get their serious attention.

Too often, business owners and managers start off their initial discussion with lenders or investors with a long winded explanation of their business opportunity or business potential, trying to impress the capital provider with what they view is the best approach to securing capital.

Instead of creating a good first impression, they are more likely to put the capital provider to sleep as the provider impatiently waits for the business owner to disclose the pertinent initial information they require to perform their initial assessment of the business financing opportunity.

Seeking business capital is a marketing exercise and like any marketing approach, the goal is to provide the target audience with the information they are interested, not the information you feel they should be interested in.

So here’s the best way to get off on the right foot with a debt or equity financier.   This approach may also get you a fast No as your audience will be able to qualify you faster, but at least you won’t be wasting your time pitching a lost cause.

Start off by stating exactly how much capital you’re looking for, why its required, and how exactly it will be applied in your business.  While this may seem obvious, its rarely the beginning point of business owner presenting to a lender or investor.  The primary reason being that human nature seems to think that if a compelling enough business case can be created right off the bat, then the amount of funds requested and the application will be secondary in nature.

In reality, by not being able to immediately describe in financial terms what capital you seek and why, you’re more likely to leave the impression that you don’t have a buttoned down plan of action that has been summarized in financial detail, regardless of the raw potential of the proposed investment.

When you lead with a detailed summary of your financial requirements, you’re not only allowing the capital provider to see if you fit into their current criteria, but you’re demonstrating to them that you have gotten a well thought out plan of action that can be accurately described in terms of numbers.

This is a great way to get serious attention from a debt or equity provider who are inundated with dreamers and entrepreneurs either weak at or uninterested in the underlining financials and corresponding stewardship that goes hand in hand with gaining access to someone elses money.

Once you’ve established what you want and why, the lender or investor will be able to make their initial assessment and either give you a fast no that you would have gotten anyway, or start moving forward in their seats with a higher level of interest.

We will address the next phase of the your initial discussion in tomorrow’s post.

Where To Go To Secure Capital For A Start Up?

How Do You Secure Capital For A Startup?

The first thing to discuss is where not to look when you’re trying to secure capital for startups, which is in the most obvious places.

Unless there is a government sponsored loan program administered by the major banks, the lenders that you see on the television every day have absolutely no intention of lending you any money for a start up business venture.

Yet because of our branded conditioning, it tends to be the first place everyone goes and the first place they get turned down too.

Once you have maximized your personal financing potential and taken full advantage of you family and friends, you have to start thinking outside the box whereby the box being walking into a bank and applying for a loan.

First, focus regionally.  Wherever you are, there is going to be local, regional, and national business development programs that are designed to increase the business tax base and maintain or add jobs to the economy.  These business development programs are designed largely for businesses that are not yet “bankable” but have a sound basis for commerce and intend to hire employees.  And while many of these types of support programs tend to focus on small dollar loans,  there are exceptions.

More specifically, I’ve seen some regional development programs that will shell out millions in loans and guarantees for the creation of industry and jobs in certain areas.  This of course is area specific, so if you want to get access to the funds, you have to be willing to relocate to the area that has the money.

Second, government grants and loans are out there and can be secured.  However, most government grants and loans are in place because there is a lack of some service or product that they are trying to draw business owners towards.  So if you want to take advantage of government funding, then you may want to research what they are supporting before you choose your business venture otherwise there may not be anything available for what you choose.

Third, other related businesses that want a certain type of product or service, but can’t readily access it and don’t have the time to create a related business themselves.   What could be better than having a major customer right off the bat that also has a financial stake in your business and is therefore motivated to help you succeed?

Fourth, there are equity investors that are on the look out for businesses they can buy into.  Just remember that this can be a very demanding form of capital that is typically looking for high profit potential and experienced partners that know what they’re doing and have a track record to prove it.

If you want to start a venture that requires capital, then you need to work backwards from the available capital sources.  That may sound counter intuitive but its not if you think about it.  From a marketing point of view, you are always taught to work backwards from established market needs and wants instead of forcing something new on the market or guessing at what will make you money.

When business financing for startup capital is involved, you have to work double time and work back from the market and from funding sources.

In reality, there are four scenarios that evolve out of the someone wanting to start a new business.  1) You want to start up a business providing things that not enough people want and there are no sources of financing for that type of business available to you. 2) You want to start up a business providing things that not enough people want, but there is some available sources of financing.  3) You want to start a business that has high customer demand, but no sources of financing.  4) High demand, and money available.

Too many people choose 1, 2, or 3, and get nowhere fast.  But even if you do your homework and focus on #4, there is no guarantee of success, but you’ve increased your probability of a profitable outcome just by not swimming against the current.

Bottom line, there is no magical place that provides start up money for any type of start up.

But there is also an infinite sea of money always looking for a home.  When you focus on a real market need that you can tap into where there is available money to scale the business, then you’re on the right track.

Securing any type of capital is always about having something to leverage.  If  you have a great business idea that the market is hungry for or just needs more of what you want to deliver, and you have a solid plan to move forward with, that’s a great start.  But take a hard look at potential sources of capital as well that are motivated in some way by what you’re trying to do.

If you can put market demand and money availability together, then you’ve got something to secure capital with.

If you’re looking for more specifics,  I don’t have any.  Each scenario has its own set of variables (market, individual skills, geography, economy, competition, industry, etc, etc, etc.)

Where to look for start up capital has everything to do with understanding the relevant variables which will help point you in the right direction.

Timing Can Be Everything When Seeking A Business Loan

When Trying To Land A Business Loan, How Picky About Your Terms Should You Be?

When opportunity comes knocking on your business door, you want to answer as quickly as possible and try to take advantage of it, right?

I mean, you’ve done your diligence and have decided that you have an opportunity to go after.  There’s just one problem…you need a business loan or some other form of business financing to make it happen.

No problem.  You just go down to your bank and get a business loan, right?

That may very well be how it goes down.  But before you even go ask, here are a few things to keep in mind.

The process of securing money is 9 times out of 10 time consuming, even when you go through well established relationships.   And any inquiry to a new lender will likely take longer than to an existing lender, all things being equal.

Plus, the nature of business financing decision related to business loans can be influenced by the lenders portfolio at a given point of time, their policies, staffing, the weather, and who knows what else.

The point here is that its hardly ever easy and fast to get your hands on business financing of any type.  Yes, it happens, but its not what you can expect on average.

So time is money when you’re trying to take advantage of an opportunity that may very well have a shelf life.

The second point to remember is that the first business loan terms you secure might not be the best that you could secure at a given point in time.  This really can be a profit killing brain buster.

Many times business owners and managers will not accept a business loan believing they can do better, which they very well could, but end up putting off the opportunity for 6 months or more searching for the best business financing deal.

Ugh!

What would you rather do, make an extra $100,000 a year or save yourself $5,000 in interest costs?

I personally hate the term no brainer as something can always go wrong with anything whether you have a brain or not, but this is as close to one as you’re going to get.

Of course you don’t want to accept anything with crazy terms that are going to back you into a corner or cause other problems.  I’m talking about simple stuff like interest cost, which can add up to large dollars, but don’t impact your ability to get going and take advantage of your opportunity.

It may seem ridiculous that you can’t always secure business loan terms you should qualify for in the time period you want, but that’s the way the commercial money system can work.

Bottom line, if you can get reasonably close to your expected terms for a business loan and get making money faster, you will likely be miles a head of the game versus holding off making money as you search for cheaper and/or better term money.

At the end of the day, when you’re sitting on some beach, enjoying the benefits of the money you’ve been able to make by moving fast on opportunities that presented themselves, are you really going to look back on things and think, boy I paid $20,000 too much on interest on that deal that made me over $1,000,000 10 years ago?

I don’t think so.

When’s The Best Time To Secure Business Financing?

When Exactly Should You Apply For Business Financing?

Typically, a need for business financing is triggered by some event or string of events. So the timing of when its actually required is not always readily determinable.

Then there’s the classic line you hear from frustrated business owners or managers that the only time they can get a business loan is when they don’t need it.

Combine these first two points with my own observation that 80% of all of business financing requests are unplanned events, and you have a lot of business owners and managers scratching their heads regarding how and when to secure capital.

So here’s a couple of things to keep in mind to increase your odds.

First, because financial statements tend to play a very important role in most types of business financing applications, you need to factor in when and how they are prepared.

In terms of when, financial statements need to filed within 6 months of your year end. If you don’t file until the six month mark, then the results are already 6 months old. And, depending on the lender and how much money you’re after, most lenders will require the last recently completed financial period to be less than 6 months ago. So if your year end is in December and you’re applying for financing in July, many times the lender will require you to get an accountant prepared interim statement for the first 6 months of the current year, or put off further consideration of your financing request until the financial statements are completed for the next year end.

All that being said, one of the takeaways here is to plan as best as you can to apply for business financing in the first 6 months of the year and make sure your accountant is on pace to get them completed well before the 6 month mark. Oh and by the way, the lender will also like an interim financial statement for whatever period is not covered off from the last completed statements to the time of application, but in most cases the interim can be prepared by the business.

In terms of how the statements are prepared, financial statements are done under an accountant statement indicating how much work was preformed to verify the accuracy of the records provided by the business to the accountant. The lowest level of review is a notice to reader, then review engagement, and finally an audit.

If you’re looking for $200,000 or less in business financing, then you may get away with a notice of assessment. Better odds with a review engagement. If you’re looking for financing over $1,000,000, then an audit will eventually come into play.

The higher levels of review cost more money, but without the verification it can be tough to secure business financing, especially lower cost financing.

Bottom line, your completed financial statements are a definite asset that is important to your financing efforts and they have a freshness date that comes into play to some extent.

So when planning out your business over the next year, make sure you take the above into consideration.

To further emphasize this point, say you have a seasonal business that has a year end of December and a peak season of August. If you’re having an off year, which can happen with any business, you may need financing in December or January to carry you though to the next peak. Good luck trying to secure financing with 12 to 13 month old financial statements and an interim statement that may be bleeding red.

Especially for seasonal businesses, you have to apply for business financing after a good year so you can leverage that result. Therefore, if you want some cushion in your available capital going into a season you’re not sure of, you’d better apply for financing before hand.

Click Here To Speak Directly To Business Finance Specialist Brent Finlay

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How To Secure Business Capital

The question of how to secure capital for your business is commonly asked and pondered by most small and medium sized business owners and managers at one time or another.

When you search the internet for the answer, you tend to get the same lame regurgitation of things like new businesses should look to friends, family, and fools for capital; existing businesses should look to banks; and that you need to consider debt financing versus equity financing that gets into the whole venture capital versus angel investor rhetoric.

Wow.  Really revolutionary and informative information.  Some even go so far as to say these are secrets if you can believe it.

Now I’m not implying that these various terms I just threw out don’t need to be explained or are not important.  No sir/madam.  I’m merely saying that all these terms with some amount of abbreviated explanation are thrown at you like a bucket of water in some weak attempt to answer the question.

Perhaps its because the generic answer set I’ve outlined is pretty basic and safe and even friendly.

But useful?

Instead of starting at the beginning, lets start at the end.  A bad ending.  Depending on whose stats you read, over 50% of businesses will fail, fold, go kaput in less than 5 years of existence.  Whether its 43.7% or 71.2% that fail in 5 years doesn’t really matter.  The point here is that its a lot and its alarmingly high.

So, why is it so high and what that got to do with securing capital?  Answer, it has everything to do with securing capital.

The internet for one is awash with people looking for money to finance their business ventures, either start up or existing, and most of the solutions that they come across are geared towards lending them money based on nothing to do with their business.

Business financing in large part, is not based on business.  Its based on personal credit, personal net worth, liquidatable (new word) assets, third party guarantees, government grants and guarantees, etc.   This applies not just for start ups, but for existing businesses as well.

The point (yes I do have a point) here is that if you try hard enough, you can probably find someone to give you some money for what you’re trying to accomplish that you say requires capital.

But your ability to be successful is dependent on 1) having a tested business model; 2) having a tested marketing approach and position; 3) having enough necessary experience, or access to the necessary experience for the venture, and finally 4) accurately estimating the capital required to become cash flow positive (business can generate enough cash to pay bills and generate a return on the capital you secured) including a substantial contingency plan for all the things that may go wrong along the way.

If  you don’t complete the above 4 points, my first question to you would be, how do you know how much capital you really need?  My second question would be, if you don’t secure capital sufficient to complete whatever you’re starting (your estimate was out and now you’re short), what are you going to do?

So how to secure capital for your business starts with how much capital do you need and is that much capital going to be able to generate a return based on your plan of attack.

In most business failures, if they did the exercise first (honestly and objectively at the very beginning), they wouldn’t need to secure capital because they’d find so many holes in their own logic and planning that they’d stop and revise things until they made more sense.

I’m not saying planning is perfect, because its not.  And no amount of basic planning and analysis will stop business failure.   But I’m telling you, its not going to be anywhere near 50% either.

The final point today is that when you make the effort and figure out what business approach should work (and I do say should as planning is imperfect) and clearly outline the capital you need to secure, you will not only have an easier time securing business capital (well thought out plans have a higher probability of getting funded), but you’re also more likely to meet or exceed your profit expectations (well thought out plans have a higher probability of making money).

We’ll get into a lot more on how to secure business capital as there can be a lot to it, depending on what you’re trying to do.

But the starting point is not “where do I apply?”, or “what tricky things can I do to get an application approved?”

If you that’s where you want to start, you’re looking to become another statistic.

Click Here To Speak With Financing Specialist Brent Finlay

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