Teach You To Finance Your New Company.

What are the obstacles that prevent you from setting up a company?

If there is a lack of funds, don't worry.

For those active entrepreneurs, there are many reasonable financing options to choose from.

The key is plan.

Your financing strategy must be reasonable and meaningful for you and future creditors.

In just 60 seconds, we will show you how to lay a solid financial foundation for your new company.

0:60 determine your needs and estimate how much money you need to start and maintain your company equipment and raw materials, inventory, office or production sites, franchise fees, etc.

Then consider how much money you can provide (such as personal savings, donations from family members or friends, etc.).

Be serious.

You do not want to estimate your needs too high or too low, nor do you want to compromise your family's financial safety and family relationships.

0:48 consider various options. Commercial banks are the most common lender for small businesses. They can provide many conventional loans, as well as loans authorized by the small business administration.

You can also find Vc firm, commercial finance companies, partnerships and so on.

We must learn as much as possible about the evaluation criteria and repayment requirements of each plan.

0:36 set up its own files. Most lenders require a business plan, a resume describing their educational and business experience, a credit history with a reference and specific loan documents.

Your business plan is divided into many parts, describing the nature and type of your company, the resources you can get, how to use these resources to achieve specific goals, timing, financial goals, analysis of competitors, and how your company can survive on the market.

0:25 fill in the form. The lender may also ask for cash flow projections to show your new company's development capability and repayment ability.

Remember that prediction of data must be realistic, and support your estimation and prediction with facts.

Don't try to save time when doing research.

0:13 practices your financing plan. For new companies, it is always necessary to introduce speeches for loan financing.

Even if you can handle yourself in such a situation, organize your own ideas, and find someone who can provide objective feedback to listen to your speech as an exercise.

Taking all kinds of problems into consideration before setting up your confidence will help you cope with any possible situation.

0:03 ask questions, ask questions and talk with your potential lending institutions to find out their loan steps and expectations.

The local SCORE agency also has many resources and expert consultants to guide you in financing the new company.

Xu Qiyun, editor in chief: