Measures to take prior to applying for a loan.For many companies, finding extra capital a difficult process. If they don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. fit a lender's criteria, they might not be able to secure a loan. Because working capital is essential to growth, Todd Todd , Sir Alexander Robertus 1907-1997. British chemist. He won a 1957 Nobel Prize for his study of nucleic acids and nucleotide structures. Kesselman, owner of Inventory Capital Group Inc., has advice on steps companies can take to improve their chances of finding financing. "There are simple rules to make sure you get financing. I get calls every week for financing by Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant . That's never a good idea. Make sure you give yourself enough time. Also, if there are things you can do to turn a loss into a profit you should do it because it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have much more finance-able. "Get rid of bad customers. A lot of people kept customers who aren't aren't Contraction of are not. See Usage Note at ain't. aren't are not aren't be paying them or aren't paying them on time. Also, don't try to swim upstream From the consumer to the provider. See downstream. (networking) upstream - Fewer network hops away from a backbone or hub. For example, a small ISP that connects to the Internet through a larger ISP that has their own connection to the backbone is downstream from the larger . We do inventory so don't come to us with an accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying loan. The guy who does accounts receivable, don't go to him with an inventory loan. "Do your homework and find out what the person you're approaching is willing to finance. Find out who finances other businesses in the same line as you. They're probably good people to go to. Also, fill out the paperwork the way they want. Give the lender what they need and they'll help you in return. "In terms of what makes a business itself seem profitable, I like high margin. Margin being the difference between what you buy your goods for and what you sell them for. High margin gives you room to make up for a lot of mistakes. Most of our clients have better than 25-30 percent margin. "I also like to know that a full set of personalities are available at the company. It's great if there's the big salesperson but I also want the detailed controller. If I came to the big salesperson for a report he wouldn't know what to do. We spend a lot of time figuring out the personalities at the company. We make sure there's also someone who loves doing reports. "We do a lot of infomercial in·fo·mer·cial also in·for·mer·cial n. A relatively long commercial in the format of a television program. [info(rmation) + (com)mercial.] Noun 1. companies, which no bank would ever trust. For those, you really need the high margin and you need some sort of media that works. We also want people who understand their product and know how to manufacture. If they're not manufacturing they need to have thoughts about how they're handling their product control." Case Study is a new feature in which experts offer advice on the various challenges that small-business owners often encounter. If you face an issue or challenge you think applies to others as well, please contact the Business Journal at casestudy@labusinessjournal.com. |
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