Are you in need of bank financing to start a business, support growth or consolidate or refinance existing loans?
In order to maximize your chances of obtaining the right facility for your needs you should consider the following:
- Do you know the facility you need? There are many business financing options including lines of credit, term loans, corporate credit cards, etc. Ensuring you are picking the right solution for your needs is critical to the success of your business.
- Are you talking to the right bank? Not all banks are created equally, some focus on personal banking, others focus on small businesses while others will only work with large companies.
- Does your bank contact have the right expertise and background to provide you with the right answers to your needs?
- Can your business support the required repayment terms of the facility? For example would your business be able to make regular monthly payments on a term loan during low seasonal performance?
BiggsKofford CPA, Your Colorado Springs Accounting Firm, has developed some solutions to assist you in obtaining the right solution for your needs, including:
- Develop, plan and present your financial story to lenders and other capital sources
- Project your cash flow and overlay the cash impact of new financing to ensure you can support the repayment requirements
- Create reports to assess the likelihood of you meeting any bank covenants that may come with a new loan
- Assist with collecting necessary documents to provide to lenders, such as financial reports, tax returns, projections, personal financial statements, etc.
- Provide connections to many of the business banks in the area, ensuring you are connected with the right lenders who can provide the right solution for your needs
The experts at BiggsKofford would be glad to meet with you to ensure you are putting your best foot forward when looking to obtain new financing. Contact one of our experts for more information.