Cash
flow has been tight, but sufficient, and you have a new customer
that will increase sales thirty (30%) percent. In order to fulfull
the order, however, you will need to expand production capacity,
hire more personnel and cover the costs of raw materials and a second
shift. You have a banking relationship consisting of a business
and personal checking and savings account, but this new project
means going beyond your customer service representative.
What
should you do and how do you prepare yourself to work with the bankers?
Preparing the Loan Proposal is a lot like preparing your Business
Plan. So if you have a detailed Business Plan, you can alter it
for presentation to your banker.
The amount of
detail necessary for a loan proposal depends upon many factors,
such as:
What type of investor is being sought?
The type and phase your business is in (start up, growth or buyout).
How the loan proceeds will be used.
If you have
questions or comments, you can call Mr. Cooke at (312) 497-9002
or email him at "gc@Cookeslaw.com".
Mr.
Cooke's fee is $300.00 per hour.
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