Video: Tips for seeking finance during the COVID-19 crisis

Posted by James Price | JPAbusiness on 29-Apr-2020 02:00:00

This week we’ve created a two-part video series offering advice on how to communicate with your bank, financier or investors, and what pieces of information to share, if you’re looking to secure funding and ongoing support in the current environment.

In last week’s video I mentioned that smart business owners are using this time to ask tough questions, including: “What is the best balance sheet and funding structure for my business, going forward?”

As I said then, the smart businesses – even if their balance sheets are quite strong and they have funding lines – are talking openly to their financiers, sharing re-forecasts and securing extra funding lines, just in case things become more difficult over the next 6–12 months.

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Topics: Business Planning, Banks and lending, Banking, business advice, Business advisor, running a business, James Price, seeking finance, JPAbusiness, Parramatta, business finance, business strategy

How to show your bank you're a sure thing [infographic]

Posted by James Price | JPAbusiness on 06-Nov-2019 02:00:00

When considering whether to ‘take a risk’ on your business and fund it, a bank or financier will usually focus on three S’s:

  • Servicing
  • Security
  • Surety.

The infographic below sets out 7 factors which contribute to your ‘surety’ in the eyes of a bank or other financier:

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Topics: Banks and lending, business advice, James Price, seeking finance, Parramatta, Orange NSW, business finance

Tips for seeking plant and equipment finance

Posted by James Price | JPAbusiness on 19-Sep-2018 02:00:00

More than a third of respondents to our recent survey indicated they plan to invest in new plant and equipment in 2018–19with most of these investments driven by the need to adapt to new technology (61%) and meet replacement schedules (45%). Just over 16% indicated the planned investment was due to new contracts.

If you’re in this situation, you may need to seek finance from a bank or other lending institution. 

As highlighted in our eBook, Managing your banking relationship, there are many things you can do to influence your bank's 'appetite' for financing your business.

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Topics: Banking, business advice, growth strategies, finance, seeking finance

 
Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
 
 

 

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