3 Questions You Need Answered Before Seeking Capital
By Gary Honig Tuesday Dec 15, 2009When talking about finding capital for a business, every pitch needs to be simplified to three very basic points. All additional documents, presentations and campaigning should backup these central questions:
7 Ways to Be More Attractive to Lenders
By Gary Honig Thursday Dec 10, 2009It’s always said that access to funds is the lifeblood of any company. Going out and securing outside financing to help grow a business is an important step in the life of an emerging organization. Keep in mind, the process of commercial borrowing is best done in preparation for needing the capital, rather than when the request is made in a dire situation. Here are some necessary tips to keep in mind when preparing to seek a loan:
Are Your Lines of Credit Killing Your Business?
By Gary Honig Wednesday Dec 2, 2009In business, access to capital at all times is crucial. Being locked out of obtaining working capital can break a company. Today, in this current economic climate, qualifying for credit from an institutional bank is tricky. There is no uniform credit culture among banks anymore, at least for the time being. Some banks are lending others are not. But in some cases securing a line of credit can become an insurmountable hurdle blocking the way of explosive growth.
Angel Investors vs. Venture Capital: What's Right For You?
By Gary Honig Wednesday Nov 25, 2009It should be noted there is a distinction to be made regarding equity investors. Knowing the difference between angel investors and venture capital is critical to working with and marketing to them.
3 Essentials for Landing a Business Loan
By Gary Honig Monday Nov 23, 2009The traditional three Cs of Credit -- character, capacity and capital -- provide a good basis for evaluating a loan applicant. Character always refers to the ability to handle the day-to-day obligations and responsibilities of a business. Capacity is the ability of a company to produce revenue to offset its growing obligations. Capital is the ability to conduct business as usual even when there is a shortfall.
How Factoring Can Help Fill The Credit Void
By Gary Honig Tuesday Nov 17, 2009The overall misconception about factoring is only companies in dire consequences would consider using one. In reality this could not be further from the truth. Today’s factoring companies are sophisticated enough to know your financial situation. If it appears that a potential client is heading into bankruptcy or liquidation, or has a significant tax lien against it, the factor (a lender) will not finance that client. Rarely will a successful factoring company fund a badly mismanaged business. These are some examples of why businesses use factors:
Improve Your Borrowing Perception
By Gary Honig Sunday Nov 15, 2009One of the many variables that a business owner must contend with is the perception others feel about their company. The perception issue can be manifested on multiple levels with each having impact on the bottom line. For example, if the outside appearance of a retail store location is not properly attended to, the results can have a devastating effect on the foot traffic that is considering patronizing the establishment. Obviously we all would pass on a store that has trash littered about and poor uninteresting signage.
Increase Your Borrowing Power: How to Use the UCC to Your Advantage
By Gary Honig Sunday Nov 15, 2009As a young business owner, if your company is considering making a large purchase on credit or applying for any type of commercial loan, you will have to sign a UCC-1 Financing Statement. The UCC or Uniform Commercial Code was developed over time as a way to promote uniformity among various jurisdictions to govern commercial transactions. Each state in the U.S. has adopted their own guidelines.
