roots to finance - david milham
DESCRIPTION
Better Breakfast Networking - October 27th - Priestfield Conference CentreRoots to Finance, by David Milham - ASC Finance for Business.SME’s are struggling with finding any source of finance and it doesn’t look to be getting easier.David Milham demystifies what’s happening and offers some options that are still alive and shed some light on the future.TRANSCRIPT
Roots to FinanceDavid Milham – ASC Kent
PresentationOverview
• Types of Finance• Information requirements• Maximising success• Questions
Working Capital
• Stock
• Supplies
• Wages
• Customer invoices
• VAT
• Marketing/sales costs
• Loan Interest
Working Capital• Overdraft (Security?)• Invoice Finance (Factoring or Discounting)• Stock Finance• Trade Finance• Specialist funding i.e. Brewery loans• Bridging loans
• Credit Cards – Health Warning!!
Medium term funding
• Plant & Equipment• Vehicles• Furnishing, fixtures &
fittings• Computers• Leasehold property• Training• Research & Development
Medium Term Funding
• Term loans (Security?)• Enterprise Finance Guarantee• Asset Finance (HP, Leasing)• Development funding• Grants - Training
- R&D
- Collaborative projects
Long term Funding
• Commercial Mortgages- Banks, Building Societies, Specialist Lenders
• Equity Finance- Business Angels, Venture Capitalists,
Enterprise Growth Fund,Family &
Friends?
• Pension funds – SIPP’s
Your business needs Finance
So WHAT does the prospective LENDER
need from YOU?
Your business needs Finance
Clearly show thefinance is
AFFORDABLE
Lenders will need• Summary proposal• Business Plan with cashflow• Details of the Directors/owners• Experience• 2yrs Accounts• Management Accounts YTD• Aged Debtors & Creditors• Details of existing loans• 3 months Bank Statements (Business & Personal)• Exit strategy for Bridging loans & Equity investments
Successfully raise finance
• Keep your accounts up to date
• Operate your bank accounts well
• Ensure credit history clean
• Make mortgage, loan & credit card payments on time
• Demonstrate loan is affordable
• Maintain a simple business plan
• Talk to ASC (initial review is FREE)
QUESTIONS?David Milham
ASC Finance for Business01795 591220 [email protected]