Positioning for financing is an art. You need to ask yourself why a lender or investor should put their money in your hands. As CPAs and fractional CFOs, we can help entrepreneurs and business owners in Ontario get the most advantageous terms on their financing needs.
Consider the amount you need, the purpose, and the timeline. It is helpful to prepare a Sources and Uses of Funds schedule that breaks down how much is being requested and what it will be used for. This data can also be added to a basic term sheet that you can send to lenders and/or investors.
Describe the marketplace within which you will sell your products and services. Help the financier understand your ideal customer, market size, margins, ramp rate and revenue growth projections. Make sure to showcase the cash flow patterns and growth potential.
Don't be afraid to ask for better terms and to negotiate interest rates and repayment terms. Invest in your negotiating skills. Obtaining the best terms involves being prepared before you need the money. It is also advisable to request more than you need so that you're able to scale your investment plans, if need be.
Many business owners consider bank term loans but your options may include receivables factoring, floor plan financing, venture capital, crowdfunding, or government grants.
Remember that obtaining the best financing terms is a negotiation and takes time, but with preparation and persistence, you can secure favorable terms that work for your company's needs.
Rebecca is a Web Designer at BluePrint CPAs. She is a graduate of St. Clair College’s Internet Applications and Web Development Program and has worked as a freelance web designer before joining the BluePrint team.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
Kit Moore, is an entrepreneur that simplifies digital strategy for other business owners. The team at BluePrint CPAs can assist you with web design, development, analytics, management systems and, more importantly, your overall business strategy. The toughest part of digital transformation is re-training your team - and we have pros to help with that as well.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
Kit Moore, is an entrepreneur that simplifies tax and financial strategy for other business owners. The team at BluePrint CPAs can assist you with financial technology, tax strategies, mergers & acquisitions, succession & exit planning and, more importantly, your overall business strategy.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
Joe is a Senior Associate, Strategy Consulting at BluePrint CPAs. He is a recent graduate of the MBA Program at the Schulich School of Business and has most recently worked for Bayer Inc and the Ford Motor Company of Canada. His experience in marketing, sales, and human resources spans various industries including hospitality, logistics, life sciences and automotive manufacturing. Joe loves working with entrepreneurs to develop their digital strategies and help them grow their business.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
