Today, I want to talk about how to do the best possible preparation for a loan application. You will need to have a good business plan and good financial records. You also need to know how much money the bank may be willing to lend to you. And you should be aware of the  additional

In a previous post, I showed you how banks calculate what they are willing to lend to you. I also showed your how how to do your own calculations so you can have an idea of how much money you will be able to borrow. There are also other factors that determine if a bank

When they are deciding whether to give you a loan, there are 2 main things banks want to know: Does your business have enough cash flow to repay the loan every month? Will you be able to do repayments on time? In a previous post, I gave you an overview of the various sources of

Banks are not the only place to get money. Today, I will discuss 12 sources of funding. I will start with those that are of interest to small businesses and finish with those that are of interest to larger businesses. In another post, I will explain how banks decide how much money to lend to

Many businesses in Africa are focused 100% on getting funders to invest in their business. Their thinking is, “If I can manage to get this funder to give me money, man, my business will take off! Getting this money will solve my problems!”. But like everything in life, there is good and bad. In Liberia,

If you want an investor or bank to give you money for your business, the important thing to know is that the majority of funders is looking for a way to make money without taking too much risk. They are looking for what is called a “safe bet”. (One of the main places you will