Grow
You have a great idea, some initial capital and help from family and friends but you still need to get your banking set up and borrow a bit more money. You need to talk to a bank or find a lender.
Ugh!
Who has the time with all the other stuff you need to do….find a location, get equipment, talk to accountants, get your HST number etc. etc. etc.
Why does the banker not understand the difference between your limited partnership and a corporation? Are you sure that they are offering you what is best for your company or just what is easy for them and gets them a bigger bonus?
Or… your existing business is growing like crazy and you need that new piece of equipment to expand. Now there is all of the other stuff you have to do to arrange for delivery, set up, hiring new employees, training etc. Oh ya, guess I have to see the bank?
What are they going to want?
Who has the time and is it the best use of your entrepreneurial abilities?
Bankspeak meets with you. We understand what you need and what the bank will need. We will gather the information and make sure that you get a proper and fair deal for your business. And, if your existing bank decides that they aren’t going to support you, we’ll have the information to find someone else.
You only need to tell us once and we’ll look after the rest.
The heavy lifting will be done for you, all you have to do is decide if you want to take their offer and sign the papers.
Refine
Things are going good. You’re getting more customers and the business is making money. Sales are growing each year.
But nothing has changed with the bank since you set up the initial arrangement a few years ago (except that your contact has changed 3 times and the new one hasn’t even been to see you).
Your business has changed, are you sure you are sure the arrangements you have in place are still the best for your business?
Bankspeak will meet with you, at your office, learn how the business started, where it is now and where you want it to go.
We will review your existing arrangements and, with our knowledge of the market, provide you with an opinion of the suitability of what you already have and recommend any changes you need to in order to continue your growth trajectory.
Restructure
Things are going great until your business partner decides to retire and triggers a buy out clause in your shareholder agreement.
Now, in addition to running a successful company, you need to raise a lot of money to buy them out or risk losing what you’ve built.
On top of that, one of your bank ratios is a little offside and your banker panics, decides that they don’t have the time to work with you and transfers your company to the bank’s “special loans” unit where some person in a tower someplace, who doesn’t even know what you do or where you are located is now looking after your account. All of sudden they are making all kinds of demands and imposing costs on you.
Can they really do that? What would really happen? Am I that bad?
Bankspeak knows what banks can, and cannot, do and can review your situation and advise you about your options. We can intermediate with the person in the tower and propose solutions or alternatives in which everyone is a bit happier. Sometimes a fresh set of eyes and new lender is all you need. All this allows you to focus on your business and make the changes to continue to move ahead (without your former partner).