One of the most challenging endeavors for business owners is to establish appropriate financing for the business. With over 15 years of experience in this arena, BARR CPA LLC will assist you in identifying and evaluating your financing options to find the one most suitable to your needs. We work as a mediator between the lender and our clients insuring the application is completed timely and that terms are adequate and reasonable. Requesting a business loan without adequate preparation sends a clear message to the lender: High Risk! Therefore, it pays to be prepared and organized in your approach for financing. Put your best foot forward by allowing us to prepare a winning loan proposal for you. Our proposals have a high likelihood of success because they're created from the lender's perspective. we know exactly what banks want to see. Even more importantly, we know how to prove to them that you'll be able to pay them back.
- Assess the risk of extending credit to a business.
- We look at financial statement data through a lender’s eyes.
- Identify strengths and weaknesses to improve operations and financial structure.
- Create the framework for a turnaround strategy and plan.
- Spot trends before they grow into problems.
- Compare any business’s performance to industry peers.
Most businesses need financing for purchasing, production, payroll, rent, distribution and other operating costs. The challenge is to determine the most advantageous methods of raising working capital. The lack of access to capital has prevented many small businesses from growing and capitalizing on the many opportunities that are available to them. It is not uncommon for small companies to reject large deals or opportunities because they do not have the necessary capital to obtain the resources to service the account. However, even when small businesses do take on large contracts, they find that they are never paid immediately upon delivery of services. Most contract terms demand that the supplier provide 30 to 60 days for the customer to pay their invoice – in effect, forcing them to extend them with supplier credit. The lack of adequate capital resources, along with the necessity to offer commercial credit to clients, creates a “perfect storm” that prevents small businesses from growing and that is very difficult to avoid.
A number of these issues could be sidestepped if the company had immediate access to working capital. Working capital could enable the business to add employees and resources to serve new clients and larger contracts. It also enhances a company’s ability to extend 30 to 60 day payment terms to their customers.