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Let’s Get Your Business Financing Ready in 2022

January 25, 2022 • Estimated Reading Time: 5 minutes

Do you have plans to apply for a business loan this year? You might think it's too early in the year to start planning, but did know that most business owners’ loan applications fail because their business is not financing-ready? Here is what you should already have figured out BEFORE putting in your application. 

  • Know why you need a loan and how it will help your business grow (are you struggling with cash flow, expecting a sales boom or looking to expand?)

  • Consider if you are running a financially fit/compliant business (is the business registered, are all your financial statements in order and up to date?)

  • Do you know how loans work (are you educated about collateral, terms and conditions, interest rates, and the type of financing that is suitable for your business?)

Start here: 15 Business Loan Terms Every Entrepreneur Needs to Know We've also put together a Full Guide of all the Requirements you need to know to put together a successful business loan application, including:

  • Types of Alternative Financing Available to Small Businesses

  • Documentation Needed

  • Explanations of Business Revenue, Trading History, Collateral 

  • Why Business Owners Get Refused Funding

  • Find out how Credit Scores Work

Let's have a productive week ahead!

NEW ON THE SME SA WEBSITE THIS WEEK: 

 

Every website requires hosting and it’s up to you to decide which web hosting service is best suitable for your business. Some of the benefits of having a website are expanded reach to customers, directly marketing to your customers online, and being able to track and measure what works in real-time and implement the best practises

Know Your Business Loans!

Find out how each type of business loan works PLUS compare the top lenders for the following business loans: - Bridging finance (short-term loan to finance working capital, cover operating overheads or buy stock)

Read Review - Purchase order finance (finance to help you complete an order or fulfil a tender)

Read Review - Inventory loans (loans to help your business buy stock)

Read Review - Working capital finance (to boost cash flow in your business) Read Review - Credit cards (get help covering day-to-day business expenses) Read Review 

This is How You Get Your BusinessFinancing Ready 

Last year we launched The Small Business Bounce Back Guide to help businesses get back on track after COVID-19. Are you already using this incredibly useful resource? If not we think it's the perfect way to learn how to;- Get visibility into your finances- Fix your cash flow & get paid in time - Build & grow a 100% compliant business- Get funding for your business Get your copy below. 

Finally, Let's Use Software to Run Our Finances Better

Access this Money Management Guide to see and understand your business better and make better financial decisions. Get expert advice for the following:– How to work with a financial planner– The do’s and don’ts of managing your finances– How to improve your business’s credit history

NEED A BUSINESS LOAN? REQUEST A QUOTE: Find out what financing your business qualifies for