5PREPARE TO DISCLOSE EVERYTHING
When seeking financing from a third party, business owners are often surprised by the extensive amount of information that funders require. This information is needed to provide the funder with a complete dossier of the business, its owners, operating history, and financial capacity.
The size of the funding proposal will not necessarily affect the list of needed information. For the funder it’s the need to understand the business and the owner’s situation, financial condition, and prospects for repayment or return, whether the funding is for thousands or millions of dollars.
The degree of scrutiny may seem greater on larger transactions because the funder’s exposure is proportionately greater. But in reality there ...