Guide for seeking financing for your business.
In the first years of business, it often feels like you don’t have enough capital for what you’re trying to achieve. At first you may be crowdfunding, borrowing from personal contacts or tapping into personal savings. But as your business grows, and you need more space, equipment and/or team members, you may start looking for other financing sources, including from a bank. Navigating the financing process can be intimidating at first, so we’ve put together a guide to help you feel more prepared, as well as increase the strength of your application to a financial institution.
When it comes to borrowing funds from a bank, your biggest asset is the strength of your business. Banks and organizations want to help, but you have to be able to tell your story. Following the steps above can help you demonstrate the long-term value of your idea. To start, you can download a template for a business plan and a monthly cash flow forecast sheet by clicking below.