By Wayne Edwards ANZ Regional Executive
Applying for finance can seem daunting, but it’s easier once you know exactly what you want and how to approach lenders. This guide can help you in preparing a financial application.
How do you start?
Talk to your Bank’s Small Business Specialist early. You’ll learn if your proposal is acceptable, or what you need to change to make your plan a more bankable proposition. Your Small Business Specialist will provide the forms and planning guidelines to prepare your formal request for finance and suggest professionals and advisers who can help you with some of the details.
Start by considering:
If you’re starting up, ensure the amount you want will cover your set-up costs and leave sufficient working capital to run the business until it breaks even. An accountant can provide valuable advice on the costs you can expect and what to include in your business projections.
Strengthening your case
Prepare a business plan (or update your existing plan) that supports your funding needs. The SWOT analysis section (strengths, weaknesses, opportunities and threats) should be thorough enough to show you understand clearly why you need the finance.
Provide a statement of your financial position – an overview of your assets and liabilities, your income and drawings, and any existing debt.
Finally, explain your business capability and the strength of the people within your team.
Talk with your local ANZ Small Business Specialist Cara O’Dwyer on 0434 606 532 or Chris Cook on 0432 755 997 if you need any assistance.
ETC BusinessLeaders presents Robert de Castella
Proudly presented by ANZ Bank this lunch presentation by World Champion marathon runner and Managing Director of SmartStart Robert de Castella (Deeks) is not one to be missed.
14 July, Novotel Pacific Bay Resort, 12pm to 2pm. For more details and to reserve your seat visit the ETC website or call 6648 5400.
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