How to Craft the Perfect Loan Pitch
You might have a great idea and a solid plan for your small business, but you probably won’t get anywhere without some help from a capital firm. You will need to make a convincing loan pitch if you’re going to secure any amount of capital, so here are some tips that will help you achieve that goal.
Know Your Business
As much as you might think otherwise, you probably don’t know as much about your business as you think you do. Even though it’s been a major part of your life for months or even years, you’ve only seen it from the inside. It will look completely different from an outsider’s perspective, so get to know it from that point of view. You will need to present a valuation of your business when you make your loan pitch, so complete plenty of market research before meeting with a capital firm.
Keep Things Professional
You may have some grand plans for your business, but you need to stay professional when you make your loan pitch. Provide hard data and realistic goals instead of delusions of grandeur.
Be Confident in your Loan Pitch
Keeping your plans realistic and professional doesn’t mean that you cannot show some confidence and passion. Part of your loan pitch will be convincing your firm of choice that you are the right person at the helm of your business. Depending on who you are and how you are perceived by others, this might be a bit of a challenge, so practice your loan pitch with colleagues and friends to make sure it’s convincing. Adjust the pitch as needed, and keep gathering hard data to keep your plan up to date.
Putting together a loan pitch for any business is a challenge, so don’t be discouraged if things don’t go according to plan right away. Keep at it, and always stay confident in your business plan. If you would like more advice on putting together a convincing pitch or if you need any other assistance acquiring capital, contact Speritas Capital today.