What small businesses need to know when raising funds
Listen and subscribe to Financial Freestyle on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. For small business owners, preparing to seek funding from financial institutions can be difficult. In this clip from the latest episode of Financial Freestyle with Ross Mack, Joy Butts, vice president and senior business consultant at JPMorgan Chase, shares advice for small businesses looking to access capital. I’m doing it. Her first advice is to know how much money you need, what it will be used for, and how you will earn interest. “It’s important that you have a solid plan for what you’re going to do, and that you can articulate that clearly in your business plan or with the banker you’re working with.” Second, she’s a human being. It emphasizes the importance of relationships and having a banker who knows you and your business, understands where you are going, and speaks for you. Her final advice is to make sure you have your “financial ducks in a row,” noting that in 2020, many businesses were turned down for PPP loans because they didn’t have their financial information in order. added. Yahoo Finance’s Financial Freestyle with Ross Mac is dedicated to promoting financial prosperity for all people. Through expert insights, practical advice, and inspiring success stories, we help you build and grow wealth. Join us on this transformative journey towards economic freedom and inclusive economic growth. This post was written by Meredith Lawrence.
