To start a new activity, or develop a business, it is sometimes necessary to get professional financing. To do this, you must follow several recommendations to optimize your chances of obtaining a positive response from one or more banking establishments.
In this File, we will give you several tips for obtaining professional financing.
Have a sufficient personal contribution
First of all, if the funding concerns a business start-up, you must make a significant contribution to your business. The financial involvement of the project leader is a determining criterion for a bank.
In general, you must provide at least 15 to 20% of the total amount of funding required. Yet, the situations are then studied by the banks on a case-by-case basis. If you have not contributed, or your contribution is insufficient, your request for funding will fail.
Create a business plan with a chartered accountant
We tell you to carry out a business plan to go with your request for financing. The business plan should be produced, or validated, by a chartered accountant. This gives credit to the business plan.
The business plan must be on realistic assumptions. Then, it must highlight the capacity of the company to be able to reimburse it on time. If the repayment of the loan is too large compared to the capacity of the company, the bank will not take the risk of accepting the loan request.
Establish the most recent possible accounting situation
If you wish to get financing to develop your professional activity. You must establish an accounting statement on a recent date concerning your request for financing. This advice is only valid if you have already started your business for some time.
Indeed, the bank that you request for your professional financing may ask you to establish an intermediate accounting situation.
Go through a specialized broker to find financing
Finally, it can be interesting to collaborate with a financing broker. This professional can, in particular, assist you in setting up your financing file. And then take responsibility for contacting several banks to submit your file. Generally, a finance broker manages to negotiate better terms than a single entrepreneur.
Besides financing, the broker will also be able to negotiate your banking conditions. Quite often, the savings that can be made on this item of expenditure are quite large.