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- Questions to ask to better understand a bank before starting a business relationship with them
- Gauging lending authority as well as the extras available with an account
- Inquiring about basic, lending, and services available
- Understanding the core activities that make your business work
- Identifying basic and expanded business processes
- Steps for performing a process analysis
- Knowing when it’s time to sell your business
- Determining your business value and pre-qualifying buyers
- Preparing the necessary documents and deciding whether to use a broker
- Key steps for acquiring funds for starting or growing a business
- Potential avenues for financing
- A word of caution on alternative fintech lenders
- Financial technology options can be an appealing option for entrepreneurs who have trouble accessing funding through traditional lenders
- However, fintech can also come with higher interest rates and more onerous repayment terms
- Proceed with caution when looking for financing
- How to develop a relationship with your bank to meet your small business needs
- The important documents to bring when meeting with a bank representative
- What banks are looking for to gauge creditworthiness
- Community development financial institutions offer an alternative source of funding with higher approval rates
- CDFIs seek to broaden economic opportunities for low-income and minority communities
- The pros and cons of using CDFIs for your business financing needs
- Investors can provide funding to help a promising new business grow
- The components necessary for a successful investment pitch
- How different types of investors work and what they’re looking for
- Entrepreneurs often have to rely on personal funds for early-stage funding
- Tapping into personal funds, bringing on partners, and convincing friends and family to lend their support
- Crowdfunding options to take your appeal to a wider audience
- While entrepreneurs often focus on profitability, cash flow is arguably the more important consideration
- The benefits of tracking how money is coming into your business and how it is being spent
- Calculations involved in calculating and predicting cash flow
