When it’s time to grow your business you need options: in other words, you need a mortgage broker in Hamilton, ON. Your competition isn’t going to wait just because you need extra funding; when you need funding, you need it now. Speak with a professional like Diane Bertolin to learn how obtaining financing for your small business can not only help you to scale responsibly and sensibly but the best practices you need to know to get you there.
Plan ahead to borrow when the time is just right
You may think the time is, ‘now,’ to acquire business funding, but is it really? Speak with a mortgage broker in Hamilton that will look at your business alongside you to determine if now is truly the best time to seek funding or if waiting would be better for your situation. They will talk directly with you and likely refer you to another professional that has the answers you seek if needed.
As you know, success in business depends on timing. Strike too early or late and you’re not going to feel the benefits that financing brings to the table. With Diane Bertolin and her talented staff by your side, you’re going to figure out the perfect time to seek financing.
Don’t focus on just the interest rate
This is just a tiny portion of a bigger equation. Ask your mortgage broker in Hamilton the following:
- What are the terms such as the administrative fees?
- What security does the financial institution in question need?
- What is the length of the amortization period?
Just to name a few. You must know how flexible the terms of the loan actually are – especially if you need flexibility when scaling your small business! If they are not flexible, ask how you can get flexible terms. Finding the perfect offer for your small business is essential to using financing strategically to scale and grow – and your Hamilton mortgage broker makes it possible.
Know your assets to provide as collateral
Especially if you are a young small business that doesn’t have that many years of annual income to report, you’re going to need collateral to secure business financing. While every situation is different, knowing your assets is essential to negotiating. Assets are not a one-size-fits-all term either. There are various types of assets you will want to account for, such as:
- Current assets (e.g. inventory, fixed deposits, sum in checking and savings accounts).
- Tangible assets/Fixed assets (long-term assets): (e.g. real estate, equipment, real estate).
- Intangible assets: (e.g. copyrights, trademarks, patents).
Chances are, you already have two of these three types of assets. Make a list of them, know how much they are valued, and bring them to the table when negotiating with your mortgage broker in Hamilton.
The Elevator Pitch
How are you going to convince your Hamilton mortgage broker to provide your business with financing? Adhere to the methodology behind the elevator pitch. The idea behind it is that in the amount of time it takes to get on and off an elevator you should be able to vocalize what your brand is, what it does, and why people should care. This technique allows you to strip your pitch down to the barebones, remove the fluff, and stick to just the details. Investors appreciate this – your mortgage broker in Hamilton will too.