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By Alana Diaz Sutton
So You Think You Need
A Business Loan?
About The Sutton Connection
• Created in November 2008.
• Registered in Maryland.
• Facilitate the economic growth of businesses
by keeping businesses in business!
What are we going to cover?
 Preparing for Financing
 Different Types of Financing Available
Lenders and Investors are looking for
Loan Purpose
• How will the money will be used?
• Important to be specific & descriptive
• Working Capital
• Growth Capital
Lenders and Investors are looking for
Loan Amount
• Its not about how much you can borrow.
• Borrow only what you need.
• 100% financing is not an option.
Lenders and Investors are looking for
Loan Repayment & Collateral
• Solid cash flow sufficient to repay the loan.
• Do you have sufficient assets?
• Do you have financial reserves?
• Do you have personal collateral to endure
business fluctuations (and still pay off your loan)
Lenders and Investors are looking for
Personal Guaranty
• Even if your business is incorporated
• Personal financial statement
Lenders and Investors are looking for
Step Back & Prepare
 Solid business plan,
 Good personal and business credit,
 Expert help.
Step Back & Prepare
Business Plan
SBA – Tool to create a business plan
Loan Request – amount, purpose, repayment etc.
Narrative explaining positive effects loan will have
on the business.
Your Contribution – Owner’s Investment
Complete & Realistic Financial Projections
Step Back & Prepare
Financial Statements
 Cash Flow Statement – Incoming cash & expenses.
 Income Statement – Revenue-Expenses=P&L
 Balance Sheet – Assets-Liabilities=Net Worth
 Personal Financial Statement – Personal Net Worth
Step Back & Prepare
 Review your Credit Report once a year
 https://www.annualcreditreport.com
 Clean Up Your Credit
• Business credit is an asset
• Financial foundation of a company.
• Personal Guaranty
Step Back & Prepare
Build Business Credit
 Incorporate your business and obtain
a Federal Tax Identification number.
 Register with the business credit
bureaus like Dun and Bradstreet.
 Open a Business Checking Account.
Make sure the following are up-to-date:
Corporate records,
Secretary of State filings
Required business licenses
Company’s phone number listed in the
411 directory
Step Back & Prepare
Step Back & Prepare
Loan Packaging Tips
 Easy to read.
 Emphasize Management Strength.
 Plan - This is how you will get your money back.
 Proofread!
3 C’s of Credit in Making Loan Decisions
1. Character – Personal Credit History.
2. Capacity – Sufficient Cash Flow to payoff loan.
3. Collateral – Back-up plan to repay loan.
Step Back & Prepare
Consult an Expert
 SCORE (a mentoring organization for small businesses)
 Small Business Development Centers
 Small Business and Entrepreneurship Center (SPCC)
 Small Business Development Training Network
 Women’s Business Centers
 Accountant
Types of Financing Programs
Available
http://charlottebusinessresources.com/financing-a-business
Types of Financing Programs Available
1. Charlotte’s Business Equity Loan Program
- Improve borrower cash-flow
- Provide flexible repayment terms
- Working capital and startup projects
- Provide easy loan approval process
- Consider business start-up financing
2. Charlotte Facade and Security Grant Programs
‒ provide matching funds for storefront
architectural renovations
‒ Security improvements to eligible commercial
buildings in targeted areas
Types of Financing Programs Available
Types of Financing Programs Available
3. Self Help Credit Union
‐ Provide SBA loan guaranty financing
‐ Utilize the Charlotte Community Loan
Fund for term business loans
‐ Provide fixed asset financing
‐ Help with small loan requests
‐ Consider start-up loan requests
Types of Financing Programs Available
4. Charlotte Community Capital Fund
5. SBA 504 Loan Program – Real Estate
6. Centralina Regional Revolving Loan Fund
7. The Support Center
8. Green Micro Loan
9. Energy Retrofit Loan Fund
10. Charlotte-Mecklenburg Business Investment Program
Alternative Financing
Five major types of available Alternative Financing
options:
1. Equipment Financing
2. Merchant Cash Advances
3. Cash Flow Loans
4. Retirement Plan Business Funding
5. Medical Accounts Receivable Financing
Five major types of available Alternative Financing
options:
1. Equipment Financing
2. Merchant Cash Advances
3. Cash Flow Loans
4. Retirement Plan Business Funding
5. Medical Accounts Receivable Financing
Advantages of Equipment Financing:
 Conserves working capital – Monthly payments vs. outright
purchase cost.
 Provides 100% financing – Ability to bundle any expense item
associated with equipment acquisition. E.g. shipping &handling,
installation, training, maintenance, taxes, etc.
 Provides tax advantages – Monthly payments are often fully tax
deductible as an operating expense.
Computers
Construction
Electrical
Convenience Stores
Industrial and Manufacturing
Material Handling Equipment
Medical Equipment
Office Equipment
Printing/Publishing
Telecommunications
Transportation
Vending
Restaurant Equipment
E.g. of Types of Equipment
Five major types of available Alternative Financing
options:
1. Equipment Financing
2. Merchant Cash Advances
3. Cash Flow Loans
4. Retirement Plan Business Funding
5. Medical Accounts Receivable Financing
Merchant Cash Advances
o Allow businesses to receive a cash infusion based on
future MasterCard and Visa sales.
o Starter programs available if been in business more than
3 months.
o Fixed percentage deducted at close of business day.
Benefits of Merchant Cash Advances:
 No fixed payment amount.
 Used for any business need.
 No personal collateral needed.
Five major types of available Alternative Financing
options:
1. Equipment Financing
2. Merchant Cash Advances
3. Cash Flow Loans
4. Retirement Plan Business Funding
5. Medical Accounts Receivable Financing
Cash Flow Loans:
• Loan amounts from $5000 - $100,000
• Existing businesses at least 1 year old.
• 6 months,12 months or 18 months
• Daily fixed payments are deducted Monday – Friday
(except holidays).
Five major types of available Alternative Financing
options:
1. Equipment Financing
2. Merchant Cash Advances
3. Cash Flow Loans
4. Retirement Plan Business Funding
5. Medical Accounts Receivable Financing
Retirement Plan Business Funding:
• You invest your retirement funds in your business –
without taxes or penalties.
• Applies to New and Existing businesses.
• Could be used to invest in Real Estate.
Five major types of available Alternative Financing
options:
1. Equipment Financing
2. Merchant Cash Advances
3. Cash Flow Loans
4. Retirement Plan Business Funding
5. Medical Accounts Receivable Financing
Medical Accounts Receivable Financing:
• Improves cash flow
• Does not require changes in your back office operation.
• Provides you with a steady and predictable source of
funds.
• No restrictions on your use of funds.
Questions?
Questions?
Contact Us
Phone: (888) 327-2313 or (704) 821-6787
Web site: www.TheSuttonConnection.com
Email: Alana.Sutton@TheSuttonConnection.com

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So You Think You Need A Business Loan?

  • 1. By Alana Diaz Sutton So You Think You Need A Business Loan?
  • 2. About The Sutton Connection • Created in November 2008. • Registered in Maryland. • Facilitate the economic growth of businesses by keeping businesses in business!
  • 3. What are we going to cover?  Preparing for Financing  Different Types of Financing Available
  • 4.
  • 5. Lenders and Investors are looking for Loan Purpose • How will the money will be used? • Important to be specific & descriptive • Working Capital • Growth Capital
  • 6. Lenders and Investors are looking for Loan Amount • Its not about how much you can borrow. • Borrow only what you need. • 100% financing is not an option.
  • 7. Lenders and Investors are looking for Loan Repayment & Collateral • Solid cash flow sufficient to repay the loan. • Do you have sufficient assets? • Do you have financial reserves? • Do you have personal collateral to endure business fluctuations (and still pay off your loan)
  • 8. Lenders and Investors are looking for Personal Guaranty • Even if your business is incorporated • Personal financial statement
  • 9. Lenders and Investors are looking for
  • 10. Step Back & Prepare  Solid business plan,  Good personal and business credit,  Expert help.
  • 11. Step Back & Prepare Business Plan SBA – Tool to create a business plan Loan Request – amount, purpose, repayment etc. Narrative explaining positive effects loan will have on the business. Your Contribution – Owner’s Investment Complete & Realistic Financial Projections
  • 12. Step Back & Prepare Financial Statements  Cash Flow Statement – Incoming cash & expenses.  Income Statement – Revenue-Expenses=P&L  Balance Sheet – Assets-Liabilities=Net Worth  Personal Financial Statement – Personal Net Worth
  • 13. Step Back & Prepare  Review your Credit Report once a year  https://www.annualcreditreport.com  Clean Up Your Credit • Business credit is an asset • Financial foundation of a company. • Personal Guaranty
  • 14. Step Back & Prepare Build Business Credit  Incorporate your business and obtain a Federal Tax Identification number.  Register with the business credit bureaus like Dun and Bradstreet.  Open a Business Checking Account.
  • 15. Make sure the following are up-to-date: Corporate records, Secretary of State filings Required business licenses Company’s phone number listed in the 411 directory Step Back & Prepare
  • 16. Step Back & Prepare Loan Packaging Tips  Easy to read.  Emphasize Management Strength.  Plan - This is how you will get your money back.  Proofread!
  • 17. 3 C’s of Credit in Making Loan Decisions 1. Character – Personal Credit History. 2. Capacity – Sufficient Cash Flow to payoff loan. 3. Collateral – Back-up plan to repay loan.
  • 18. Step Back & Prepare Consult an Expert  SCORE (a mentoring organization for small businesses)  Small Business Development Centers  Small Business and Entrepreneurship Center (SPCC)  Small Business Development Training Network  Women’s Business Centers  Accountant
  • 19. Types of Financing Programs Available http://charlottebusinessresources.com/financing-a-business
  • 20. Types of Financing Programs Available 1. Charlotte’s Business Equity Loan Program - Improve borrower cash-flow - Provide flexible repayment terms - Working capital and startup projects - Provide easy loan approval process - Consider business start-up financing
  • 21. 2. Charlotte Facade and Security Grant Programs ‒ provide matching funds for storefront architectural renovations ‒ Security improvements to eligible commercial buildings in targeted areas Types of Financing Programs Available
  • 22. Types of Financing Programs Available 3. Self Help Credit Union ‐ Provide SBA loan guaranty financing ‐ Utilize the Charlotte Community Loan Fund for term business loans ‐ Provide fixed asset financing ‐ Help with small loan requests ‐ Consider start-up loan requests
  • 23. Types of Financing Programs Available 4. Charlotte Community Capital Fund 5. SBA 504 Loan Program – Real Estate 6. Centralina Regional Revolving Loan Fund 7. The Support Center 8. Green Micro Loan 9. Energy Retrofit Loan Fund 10. Charlotte-Mecklenburg Business Investment Program
  • 25. Five major types of available Alternative Financing options: 1. Equipment Financing 2. Merchant Cash Advances 3. Cash Flow Loans 4. Retirement Plan Business Funding 5. Medical Accounts Receivable Financing
  • 26. Five major types of available Alternative Financing options: 1. Equipment Financing 2. Merchant Cash Advances 3. Cash Flow Loans 4. Retirement Plan Business Funding 5. Medical Accounts Receivable Financing
  • 27. Advantages of Equipment Financing:  Conserves working capital – Monthly payments vs. outright purchase cost.  Provides 100% financing – Ability to bundle any expense item associated with equipment acquisition. E.g. shipping &handling, installation, training, maintenance, taxes, etc.  Provides tax advantages – Monthly payments are often fully tax deductible as an operating expense.
  • 28. Computers Construction Electrical Convenience Stores Industrial and Manufacturing Material Handling Equipment Medical Equipment Office Equipment Printing/Publishing Telecommunications Transportation Vending Restaurant Equipment E.g. of Types of Equipment
  • 29. Five major types of available Alternative Financing options: 1. Equipment Financing 2. Merchant Cash Advances 3. Cash Flow Loans 4. Retirement Plan Business Funding 5. Medical Accounts Receivable Financing
  • 30. Merchant Cash Advances o Allow businesses to receive a cash infusion based on future MasterCard and Visa sales. o Starter programs available if been in business more than 3 months. o Fixed percentage deducted at close of business day.
  • 31. Benefits of Merchant Cash Advances:  No fixed payment amount.  Used for any business need.  No personal collateral needed.
  • 32. Five major types of available Alternative Financing options: 1. Equipment Financing 2. Merchant Cash Advances 3. Cash Flow Loans 4. Retirement Plan Business Funding 5. Medical Accounts Receivable Financing
  • 33. Cash Flow Loans: • Loan amounts from $5000 - $100,000 • Existing businesses at least 1 year old. • 6 months,12 months or 18 months • Daily fixed payments are deducted Monday – Friday (except holidays).
  • 34. Five major types of available Alternative Financing options: 1. Equipment Financing 2. Merchant Cash Advances 3. Cash Flow Loans 4. Retirement Plan Business Funding 5. Medical Accounts Receivable Financing
  • 35. Retirement Plan Business Funding: • You invest your retirement funds in your business – without taxes or penalties. • Applies to New and Existing businesses. • Could be used to invest in Real Estate.
  • 36. Five major types of available Alternative Financing options: 1. Equipment Financing 2. Merchant Cash Advances 3. Cash Flow Loans 4. Retirement Plan Business Funding 5. Medical Accounts Receivable Financing
  • 37. Medical Accounts Receivable Financing: • Improves cash flow • Does not require changes in your back office operation. • Provides you with a steady and predictable source of funds. • No restrictions on your use of funds.
  • 39. Contact Us Phone: (888) 327-2313 or (704) 821-6787 Web site: www.TheSuttonConnection.com Email: Alana.Sutton@TheSuttonConnection.com