Tips To Secure Financing

Today between hard money lenders, private money lenders and silent capital partners there are more financing options than ever before. It wasn’t that long ago when lender financing was the only realistic source of funding.

 

 

 

Know Your Target

Know Your Target –  It is important that you treat every financing meeting with the respect and importance it deserves. Without a personal understanding of who you are speaking with your presentation will sound repetitive and rehearsed.

Provide Statistic

Prepare Numbers & Answers – In addition to the bottom line you need to know everything about the numbers, exit strategy options, carrying costs and potential setbacks. It is human nature for a lender to want to know their bottom line potential.

Target On Profit

Focus On Benefit – Why would someone want to give you access to capital? As is the case with any potential business partnership there needs to be a net benefit for both sides.

Follow Up Directly

Follow Up Promptly – Take a proactive approach and follow up with a phone call or leave a voicemail with an exact day to speak again. You may have set the groundwork of a partnership moving forward but you still need to seal the deal.

Display Identity

Show Personality – Connecting with your lender about personal issues can be the final item that pushes the agreement over the top. They want to feel comfortable and confident that you are just as vested in the partnership as they are.