A
Loan at Last
When all of your preparation
and efforts have paid off and you have the loan you need to start
or expand your business, don't stop there. Communicating regularly
with your lender or investor is important.
Ask your lender or investor
how they wish to be kept up-to-date about the progress of your business.
If they have money invested in your business, they are interested
in your business. Lenders and investors appreciate receiving periodic
financial statements so they can see how your company is growing.
Make it a point to schedule
face to face meeting times with your banker or investor to review
what has been happening in the business and to discuss future plans.
When major changes occur,
or when you predict they will occur, contact your banker or investor
as soon as possible and keep them informed. Your consistent and honest
communication will be important to maintaining your relationship with
the financial "partners" of your business.
Getting the appropriate
financing for your business can be a challenge, but it is possible.
You may have to make some adjustments to your initial plan along the
way. It will be worth it for you to get the business off to a good
start. The reason many businesses fail is because they are under-capitalized.
Seeking financing is another part of doing business, of seeing your
dream become reality.
Next Chapter...
