One of the most important steps to the successful launch of a new business is to find a source of initial funding. Sometimes a single loan is not enough to actually get your business up and running. This is where loan packaging can come into play. Loan packaging can involve using multiple forms of collateral to get a loan or using one form of collateral to get multiple loans. Whatever the case may be, finding the right loan for your business is not an easy task. Seeking advice for loan packaging from a professional accounting service will facilitate your search for the perfect loan arrangement.
Locating and hiring a qualified accounting service is vital to the success of your business. Besides the assistance in your search for funding, an experienced accounting service can improve your profits by providing accurate and actionable financial reports. You should look for a firm both experienced and certified in your areas of need.
In addition to doing your own research on available loan packaging, engaging the services of an accounting firm will open up sources of loan packaging not available through your own efforts. An established accounting service will have more contacts and experience with lending institutions, private lenders and investors. Every dollar counts when starting a new business, so shopping for the best rates and terms on loans is critical to your success.
A professional accounting service will not only be able to help you locate a source of funding but if you outsource your bookkeeping, payroll and tax preparation tasks to the firm you will have access to good numbers to both efficiently manage your business and present to your loan providers.
The author: Dawn Contardi, owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or contact us.