Are you seeking financing for a new project in the fitness and wellness industry? Financing is often the most stressful and difficult hurdle in getting a project under way. Whether funding is needed to open up a new location or get an expansion to an existing facility, there are plenty of question to answer.
For over fourteen years, Gro with Us has assisted our clients to develop their financial plans in the best way to grow and optimize their business and project goals. Our knowledgeable, dedicated team guides you through the lending process and provides several options to best fit your needs.
Below are our top tips for achieving financing in the quickest, most cost-effective way possible. It is important to know that while these tips will make you more informed, many of these tips should not be undertaken alone. At Gro With Us, we have been through the funding process countless times for projects and credit situations of all ranges. With our experience and know-how, we can work with you to make sure you achieve funding with minimal stress, time outlay, and long-term cost.
- GRO Tip #1: Knowing your credit score is an absolute when it comes to getting financing a new business, expansion or renovation.
- GRO Tip #2: Don’t be over your budget! Be overly prepared to know your true project cost.
- GRO Tip #3: Did you know there are many items that can be built into a lease other then just equipment?
- GRO Tip #4: Know your business value based on EBITDA calculation.
- GRO Tip #5: You can still get a loan w/ tough credit! Following the right process can get you financed within 90 days.
- GRO Tip #6: Get money from SBA! This loan process is one of the best ways to get money for your startup.
- GRO Tip #7: Always have your personal resume up-to-date and corporate tax documents in order.
- GRO Tip #8: If you were once a strong financial individual and now you cannot even get a small loan, there are ways to remedy this.
Preparation is the key. There are many questions to answer, and you should know all of their answers before beginning the financing process. Our advice is to not enter this extensive process alone. Make sure you know you’re getting the best deal in the most timely manner possible.