Bank financing is how most businesses will acquire money for starting a new business or further growing or expanding their business. Obtaining a business loan without the right planning and knowledgeable CPA by your side can sometimes send the wrong message to a lender; therefore the bank financing paperwork needs to be organized in a certain way. By allowing a CPA to prepare a persuasive bank financing proposal, you can be rest assured that your bank financing proposal will have a greater likelihood of success because it was prepared by a CPA, who know what lenders want to see. A CPA can help you get the right bank financing and also prove to the lenders that you and your business will be able to pay them back.
With the help of your CPA, there can be several benefits to having a CPA prepare a bank financing proposal for you. One of these benefits can include an executive summary that will be prepared for your bank financing proposal that will state the purpose of the loan, the correct amount of money that you will need and explaining how the bank financing will be used in relation to your business. Another benefit is the CPA will use the data from your financial records to prepare a report of your business so that the bank can easily read. One last benefit is the CPA will help you obtain copies of your personal tax returns for the last three years and help establish the collateral that is being used for the security of your business’s bank financing and will even meet with the lender on your behalf. Contact a local CPA in your area to find out how they can help you acquire the bank financing that you may need to grow your business.