Raising finance

Plan Early
Make raising finance a central feature to your business planning, lenders can smell panic!

Be Realistic
Make sure figures are realistic; a request can be declined for being too optimistic as well as being unaffordable.

Consider all the different forms of finance
Short term finance should be used for short term needs and long term finance for more permanent facilities. Approaching the right type of lender for the right type of finance will help obtain a sanction.

Make sure your business is in order
Lenders will consider track record, business systems and record keeping.

Look at the proposition from the lenders point of view
Would you lend to you?

Be up front
Don’t hide information. It doesn’t go down well if discovered during negotiations.

Security
With larger amounts expect to be asked for security. If you are not willing to provide any it could be interpreted as a lack of faith in your own business.

Keep it Simple
Stick to the key points – blinding lenders with science does not help an application.

Maintain focus on your business
Negotiating a deal can be a lengthy process but should not detract from running the business on a daily basis.

When you receive the finance
Celebrate in style!