Financing 101 for Business Owners

Financing 101 for Business Owners

Helping Business Owners Obtain Financing is an integral component of good financial advising. Working with a CPA who has the wisdom and insight to knowing what is in your best interests when looking to obtain financing. A good CPA/financial adviser will not necessarily help you obtain your dreams, but will do much to steer you towards financial options and considerations that will be best for you and your business

Having served Atlanta business owners as a CPA and helping them obtain financing for some thirty years we have seen some trends in the financial community come and go along with good times and in bad. However there are tried and true business issues that never go out of style. First and foremost, do not get a loan you cannot afford to pay back. Loans, should only be for a limited purpose and time frame and should not be a lifestyle or consistent financial means of running your business. Whether you need financing for business Acquisitions/Sales, Business Lines of Credit, Home Equity Lines, Factoring, Obtaining of Financing Proposals or need help you Negotiation of Bank Loans, Terms, Payoffs, Amortization, Calls & Covenants, your CPA should be your first call to ensure wise financing decisions.

Obtaining financing is both an art and a science. Part of the process requires good record keeping, good tax advice, the right entity set-up, proper tax returns, good internal controls and much, much more. No lender wants to be subject to the whims of an business owner who is not taking care of the basics and his own shop. Care should be exercised in all levels of business management to be sure sound and proper business decisions are being reached on a daily basis along with ensuring that job costing is done on each and every invoice and that profit margins are being obtained and achieved.

Care should be further exercised that you have a good standing with your customers, the business community, employees and are a contributing member to both the social and moral fabric of your community. No banker or lender will desire to lend to someone who is not presently paying their current obligations or who are not aware of the many business and economic issues facing their company.

Work with a CPA who first looks to understand your business from the bottom up, by looking at all facets of your business. A prudent CPA should alongside you in your endeavors to succeed as an entrepreneur. A good CPA's long-term goal is that you life, your business and your retirement are all better off as a result of their business relationship with your company.

CPA: Never Underestimate the Value

John Dillard is a Christian Speaker/Author and Certified Public Accountant (All Rights Reserved). To See how he takes Christ along with him to work visit http://www.hiscpa.com/  (An Atlanta CPA firm) and for his latest book Overcoming Life's 9/11's: Job's Journey and to learn about his ministry visit http://www.john-dillard.com/