To successfully fund their business, business owners must acclimate themselves to the dynamics of the evaluation and underwriting process. Approaching this process with realistic expectations will improve an owner’s proposal and increase the chance of success.
Owners should reconcile themselves to one of the business world’s basic rules, adapted from the Golden Rule: “Those with the gold make the rules.”
Those requesting funding should be prepared to provide voluminous information, answer a dizzying array of questions, and be critiqued on a variety of business details. This repetitive and tedious process is not intended to be a personal challenge but is necessary for the funder to quantify risk.
The owner is asking ...