Skip to content

Bank Financing

Bank Financing Services for Morris County

Whether starting out as a newly formed small business, or looking to advance your established business towards future-thinking goals, you need the right financing to back up your venture. However, bank financing requires many documents that represent and determine the quality of your business. Requesting a business loan without the proper preparation can lead to the loss of a significant financing opportunity. At Hemmendinger + Company, LLC, we assist in helping you and your business begin operations without any problems with our bank financing services. 

Financing Your Business through Bank Loans

Understanding the various paths to find financing for your venture can be a tedious task, but at Hemmendinger + Company, LLC our experienced business consultants and accountants can help prepare statements for you as well provide sound advice on where to take your search.

Whether you’re looking for a larger sum or something to make up for what you had already acquired, the size of the loan is dependent on the size of your business. As a newly formed business, you may find financing between friends, family, or credit cards. However, if you have good credit, a well-established business plan, and resources to invest, smaller banks such as community banks or credit unions may lend you money.

To do all this, you should prepare a well-established business portfolio that comes with a strong loan proposal. Our Cedar Knolls business consultants provide guidance when preparing for applying for a small business loan. We assist in creating loan proposals so you can get the money you need to start your business.


Loan Proposals

At {business name}, we understand the how essential a lender is to starting your business, which is why we work with you to make up and prepare the written documents needed when applying for a loan.

There are many formats when composing a loan proposal. However what is essential are these elements:

-          Executive summary: Starting off your proposal by stating the purpose of the loan, the exact amount of money required, and an explanation of what the loan will be used for and why it’s needed. Describe your market, your customers, and the industry.

-          Loan Repayment: This section describes the terms in which you hope to receive the loan, as well as the various interest rates and terms that come with the loan. Show how you will meet the repayment schedule with projected cash flow and sales. We prepare these financial statements and cash budgets in way that makes clear and concise the success of your business, and ultimately the success in paying off the loan.

-          Personal Financial Statements: To describe the collateral you are willing to provide as security for the loan, we can prepare the last 3 years of personal tax returns to demonstrate your compliance and responsibility in paying off debt. A projected balance sheet, income statement, and reconciliation of net worth maybe required, especially as a newly formed business.


Ready to Learn More? Contact Hemmendinger + Company, LLC

The success of your company is in the base foundation upon which it is set. At {business name}, we want to be part of that process. Contact our Cedar Knolls CPA firm today for more information about our business services and bank financing assistance that we provide throughout Morris County, New Jersey!

If you'd like to learn more about how you can obtain the money you need to grow your business please complete this form.

Name
Phone
Email
Best Time To Call
Comments
We take care of your books for you, so you can get back to the job of running your business and generating profits.
Learn More...
We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best--running your company.
Learn More...
We offer a variety of services to help make sure that you are taking full advantage of Quickbooks' many features.
Learn more...
We're here to help you resolve your tax problems and put an end to the misery that the IRS can put you through.
Learn More...
We offer one-on-one guidance and a comprehensive financial plan that helps manage risk, improve performance, and ensure the growth and longevity of your wealth.
Learn More...

© Hemmendinger + Company, LLC 2019