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The US Department of the Treasury has invested more than $3.9 billion in 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. When you apply for a loan, they are evaluating your ability to pay back that 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.
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:
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 below to speak with an experienced Accounting and Bookkeeping firm you can trust. You’ll be glad you did!