Seeking Bank Financing
Applying for financing is a crossroads that every business comes to at one time or another. Despite your confidence in the future of your business, the process is time-consuming, intimidating, and full of opportunities to derail if you don’t do everything right. Different financing resources require different things, but what is common is that the list is typically very long. Most will require one year of bank statements for all accounts, a personal financial statement, several years of tax returns (both business and personal), several year-end financial statements, copies of lease agreements, copies of any other notes or any other obligations, and information about owners and key management. A common error that businesses make that prevents them from getting the financing they’re seeking is not having adequate financial data—either it is historically lacking, or it is not timely or accurate.
How We Can Help
Fricke & Associates, LLC can help take the stress, time, and guesswork out of seeking financing. As specialists in serving small and mid-sized businesses, we have worked with thousands of companies on financing.
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Thorough completion of taxes.
When it comes time to seek financing, we recommend that you meet with us and your banker to obtain a list of requirements for the type of loan you seek and begin gathering the information. You should also begin to monitor your financial data to meet the ratios needed to meet the covenants and ensure the cash flow will be adequate to borrow. With Fricke & Associates, LLC on your team, working with you side by side, this process does not have to be overwhelming or time-consuming—and you can provide your banker with exactly what they need.
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We can help
If you need a bookkeeping professional for small businesses in Atlanta, GA, Fricke & Associates, LLC. We have the expertise and experience to understand your needs, analyze your financial data, promote your growth, and ensure your financial future is set on a successful path. Additionally, we are a leader in developing and implementing the latest technology for optimizing accounting and tax solutions.
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