Small Business Funding feels elusive and hard to obtain, but that’s not the case.
Business owners feel like this:
In my experience working with business owners, lending institutions and other financial avenues, the truth is that most business owners have not made themselves students of finance. Oh sure, they can handle banking, payroll, accounts payable and receivable, and the multitude of other financial matters that a business owner deals with; but this is usually done by need and to manage crisis, not with strategy and future needs in mind.
So when the time comes that business feels a cash crunch, or a positive opportunity to grow, expand, seize market share etc. they do what most every business owner does. They walk down to their local bank, hat in hand, and say ” I need money for my business, can you help me”?
This leaves the business owner vulnerable to many unnecessary negatives: quality of the business lending person they sit across from, quality of the bank they are asking, quality of the products and appetite of that lender to offer money to businesses, quality of personal credit, business credit, financial documentation and business plan.