1 / 8

Derek Siewert - The Primary Cause Of Business Financing Frustration

Also, Derek Siewert is an original investor and founder of the Renaissance Club, a golf club located outside Edinburgh, Scotland. Mr. Siewert holds an M.B.A. and a B.B.A. (with Honors) from Southern Methodist University.

DerekSiewert
Download Presentation

Derek Siewert - The Primary Cause Of Business Financing Frustration

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Primary Cause Of Business Financing Frustration Derek Siewert

  2. Finding proper business financing is not easy at the best of times for most small and medium sized business owners and managers. • There are a number of reasons that collectively explain why the business financing market can be so difficult to understand and navigate.

  3. Develop a solid, ongoing, understanding of both your personal and business assets, income, and cash flow. • Regardless of the business financing model, these elements will always come into play to some degree. • Being able to demonstrate a solid understanding of your business financials is also an indication of your ability to manage the underlying business.

  4. Monitor and manage your personal and business credit. • Small and medium sized business financing is focused on both personal and business credit histories. • Regular reviews of both personal and business credit reports from the major credit reporting agencies are important to avoid errors and credit practices that can severely damage your borrowing power.

  5. Develop your marketing position. • When applying for business financing, you're marketing your business to lending sources and they in turn are marketing their business financing programs to you. • Think of the lender as a customer to better understand what they're looking for. Then, develop a business proposal that addresses all their potential needs and concerns.

  6. Research Lending Sources • There are lots of business financing sources. But there is also lots of variation in the types of business applications each one is prepared to consider. • Broad based lenders rely on credit history and net worth. As you get more specific in terms of financing application and industry, lender programs become more narrow and can be harder to locate.

  7. Qualify The Lender • Before you make a formal application, find out if the lender has the programs and lending track record to meet your specific needs.

  8. Compare your options • Depending on the scenario, there can be several financing strategies that could work for your business. • Make sure you take the time to compare before making a decision. The extra time spent could save you considerable time and money in the long run.

More Related