What Entrepreneurs Need For Banks
Posted by
Tom Aiken on Wed, Sep 14, 2011 @ 10:47 AM
A company should have a business plan including financial information showing how money flows in and out of your company. Good financial statements will be the foundation for this information.
About 25 percent of businesses with fewer than 500 employees keep financial statements, according to the Federal Reserve Board's Survey of Small Business Finances.
With your financial information, you will be able to explain to the banks why a loan of a specific amount will either help your business catch up to industry peers or drive your already-superior numbers higher.
Small companies need to establish a solid relationship with a bank that targets entrepreneurs. Even if it cannot issue a loan, the bank might be able to connect you with angel investors, grant opportunities and various funding programs available to the company.
Consider hiring a certified public accounting firm to assist you in developing realistic financial figures.
DGK Group can assist you in preparing meaningful financial projections and statements that meet the requirements.
Call us at 215-682-9047 and learn more about us at www.dgkgrouppc.com