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Finding traditional funding (such as standard loans) is becoming increasingly difficult in today’s highly saturated market. Unless your product or service is a truly original and innovative invention, your only hope for finding funding outside of your own pocket is to highlight your competitive advantage.
This is especially true when it comes to investors vs lenders. While both lenders and investors are looking at your long-term numbers, long-term sustainability is much more critical to investors because they’re planning to be with you for the long haul.
There is a world of difference between lenders and investors. While both can supply you with startup or expansion cash for your small business, they have very different expectations of you in return.
Your investors will also have a say in how you spend funds, what you do with your business overall, etc…
As long as you can make your monthly payments on your business loan, your lender doesn’t care what else you’re doing. The average business loan takes between 1-10 years to pay off. Outside of that window a lender is no longer invested in your business.
Whether you’re looking for loans or investments, the key to impressing potential funding sources is in your business plan. A solid, professionally prepared business plan that highlights your competitive advantage will reflect well in any meeting.
Contact us today to discuss what we can do for your business when we work together!Tags: business plan, investor, loan