About Hot to get Small Business Financing

Raising Capital from Commercial Lenders - While poor management is the most frequently cited reason businesses fail, inadequate or ill-timed financing is a close second. Whether you're starting a business or expanding one, you will need ready access to cash at all times, and you will need to manage that cash well.

In order to avoid common mistakes in borrowing money (such as securing the wrong type of financing, miscalculating the amount required, or underestimating the cost of borrowing money), it's important to manage your existing funds wisely. This fact sheet explores what considerations to take into account before seeking financing, the types of financing available, and criteria commercial lenders use to assess a loan application.

Raising Capital from Alternative Lenders - Some small business owners may find that they cannot successfully obtain a bank loan even though they run profitable businesses. Alternative lenders exist to fill the gap between bank financing requirements and small businesses in need of capital. This document provides an overview of what an alternative lender is, what to expect when working with an alternative lender and how the loan approval process and loan terms differ from those of a commercial lender.

Basic Bookkeeping - Whether you are seeking financing or simply trying to understand how to maximize profits, it is vital that you keep regular records of your business sales and expenses. This worksheet contains pre-built formulas that you can use as a tool to help you document and understand your monthly sales and expenses as well as evaluate the meaning behind these numbers.

Business Banking - As your business grows, you will likely encounter a variety of opportunities to use bank products to help your business obtain payments as well as spend and save money earned. This document provides information on the benefits of obtaining and using a business bank account as well as guidance on how to choose the right account for your needs. It also contains basic information related to business cash management tools such as a business credit card and a merchant services account.

Managing Your Cash - The amount of money that comes in and out of your business is called your cash flow. Gaining financial control by understanding your cash flow is crucial to a small business owner’s success. This workbook includes information related to maximizing your cash flow, creating and analyzing cash flow statements, as well as tips for what to do if your cash flow is negative or positive.