May 24, 2011 -
PRLog -- 1. Create a Business Plan- Professional Business Plans, portray your Business in the best possible light. It lets lenders know that you have: a) Done your homework and are ready to not only venture, but have a solid plan of action in order to succeed in today’s business world, b) Have surrounded yourself with a team of professionals who will be working with you on a day to day basis, c) By calculating a minimum of a 2-5 year projection of earnings, will give the lender a road map as to how you plan to achieve your goals, and d) Have an Exit strategy in the event unforeseen problems should occur.
2.Start a Corporation-
WHY? Simply put, “Protect your personal and business assets”. Lenders will not take your company goals and needs seriously if you don’t. Clients who do not form a corporation or LLC risk the possibility of losing not only business assets but personal assets at any given minute. Some clients entering your place of business will not hesitate to sue you at a drop of a hat, that is why it is so important to protect yourself, your personal assets, your business assets and last but not least, your family.
3.Secure Funding-Many existing and Start up Business Owners make the mistake of jumping into business by using their own funds (401K’s-IRA’
s-Pension-Savings accounts-Credit cards, etc). Simple Rule: NEVER USE YOUR OWN FUNDS if you can possibly avoid it. You never want to ask a lender for a loan when you need it. The best time to ask a lender for a loan is when your balance to limit ratio on your personal credit is low, you have funds readily available that you can access in the event of an unforeseen situation, that can be verified by the lender. Your Business Plan reflects the specifics of success with picture perfect financial projections, revenue levels, profitability breakdowns, employee hire ratios, product vulnerability, based on the current business arena in which you plan to excel.
4.Package your loan professionally-
Establish a relationship with a Professional Packaging and Placement Company, such as AMAGF. AMAGF, professionally packages your loan per SBA rules and guidelines (300 Pages Minimum). Our SBA packaging formats are recognized, accepted and relate to required lending guidelines of every Bank, Credit Union, Community Bank in this country. You only have one chance to make a first impression; Professional Financial Packaging reflects your personal integrity as well as the importance of presenting a structured, clean and a professional road map that will lead to your success. AMAGF has the capability of forwarding your file to 400 lenders at one time, without injury to your credit report. Just as you hire an Accountant to Professionally do your taxes is the same reason you would hire a Professional to handle your financing needs. Why go from one bank to another to another and another while guessing if the paperwork you filled out was properly formatted, with growing concern that with every submission your credit score will be lowered endangering your likely hood of approval. Contact your AMAGF Professional at: 877-912 702-527-7777 we will be happy to sit down and discuss your current business goals and how we can help you to achieve and realize your dream.
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AMAGF, is a Veteran Owned Small Business Loan Packaging & Placement Firm, who's main objective is to help Existing & Start Up Businesses obtain the funding needed in order to realize their dream of owning their own business, create better cash flow while providing small business with the opportunity and ability to hire more AMERICANS.
