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How much can you reasonably expect to get? Refer back to your business plan. If it still doesn't answer the question, let's go step-by-step. In Session 8, Accounting and Cash Flow, you learned how to predict future cash needs by using a cash flow control form.
The cash flow control form will spell out all of your sources of income and expenses.

How to Finance your Business
For example, some expense items might include:
Buying supplies and inventory while waiting to get paid

Paying payroll and rent
Buying equipment and fixtures
Getting a computer
Buying the business
Prioritize those areas where your options are limited to paying in cash, and review your alternatives where there may be another way. For example, it is not necessary to pay all cash for a delivery truck when you can rent or lease one. Next, review what might serve as collateral for your loans.

Common types of collateral are equity in your home, accounts receivable, inventory of the business and equipment. Lenders go through an evaluation of the collateral to determine how much they can lend against it. Some key variables as to what kind of loan terms you can get are: government small business loan, bad credit business loan, bad credit small business loan, start up business loan, government business loan, new business loan, bank business loan, unsecured business loan, minority business loan
Number of years in business - This is your track record and is very important. Banks usually require three years while others are less stringent.
Size of your company and the amount needed - Financing institutions vary in the way they service the public. For example, you would probably not get a car loan and a large corporate loan at the same place. Do your research. Ask around. Get to the right spot.

Step two is to be ready to answer questions about your business, and be ready to highlight your financial performance both in the past and in the future. You will be more impressive if you have carefully thought-out and become familiar with your plan. Bring your accountant if you need help. Be prepared to tell them why you need the money. "I just need the money," does not inspire confidence or the fact that you have thought it through. Earlier in this session, you studied a number of different purposes. Give them some detail.

You are most likely familiar with a straight loan (debt) where the lender gets an interest rate and fees.
Equity is where the money raised gives the investor an ownership interest. This is common in the sale of stock to a limited number of investors or participation by venture capitalists. The sale of stock is highly regulated by state and federal agencies and you will need the help of a corporate lawyer. Normally the initial sale of stock to the public (initial public offering or IPO) is deferred until an earnings history is established. Sometimes such a discussion arises with friends and family who want to be your partner. Consider this carefully because they will then participate in the increased value of the business and have voting rights. It is well beyond the scope of this discussion to cover all the aspects of debt and equity. Just be careful! Your lawyer and accountant would be appropriate sources for more information on this subject.

Propose a repayment plan. Examples of different structures are:
A line of credit, payable at your discretion but subject to renewal annually by the bank
Term loan payable monthly over _ years starting on _ date
Most places have some flexibility. Potential lenders appreciate that you are thinking about paying them back instead of just getting the money.

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