Your Helpful Summary Sheet

Transcription

1 WHAT'S INSIDE: Finding Angel Funding Understanding Crowdfunding Preparing for Bank Funding Complimentary Services (Available to Clients Only) Pitch Creation (Investor Sites) Crowdfunding Campaign Check Consult for Bank Targeting Exclusive Offers (Available to Clients Only) Sales Material Services Endorsements & Referrals Partner Discounts Your Helpful Summary Sheet FUNDING RESOURCES AND BONUS INFORMATION FOR WRITTEN SUCCESS CLIENTS Helping You With the Right Connections Your success is a priority. Whether you need help finding funding, need a marketing service, or need advice on good business resources; you have the inside track. BECAUSE THE BUSINESS PLAN IS ONLY THE BEGINNING.

2 Investor / Angel Funding with the these providers, but sees them as credible, integrity-based businesses. Angel Investment Network Upload your pitch, connect with investors and get funded by one or multiple investors (angels). Funded.com Funded.com is a network that provides a platform for start up and existing businesses, projects, ideas, patents or fundraising to connect with funding sources. Upload your pitch, connect with investors and get funded by one or multiple investors. Gust Accelerator Program This is a source to enter your business into one or many Accelerator Programs. Also a great resource for legal, accounting, and financial tools for running your business. Gust Entrepreneurs This is the investor matchmaker side of gust.com. Great place to upload your pitch for angel investor review. Angels Den It's free to register and begin creating a pitch. The first step is to answer some simple questions about your business so you can check that you meet investment criteria. If you do meet criteria, then you can complete and submit the online overview of your pitch for the team to review. pitch consultations to all previous clients for the following investment networks. Local Investment Networks Make sure you leverage local resources. Every state has a local investor presence. Many cites have exclusive opportunities for small business owners and events that are catered to supporting start-up entrepreneurs. Search for local opportunities near you by state, city, county, and zip code. For local matchmaking sites like the FloridaInvestmentNetwork.com, the CaliforniaInvestmentNetwork.com, and the TexasInvestmentNetwork.com, the process is simple. Upload your pitch and business plan, connect with investors and get funded by one or multiple investors.

3 Crowd Funding with the these providers, but sees them as credible, integrity-based businesses. Caution: there is an emergence of 3rd party sites who offer to help you build and launch your campaign. They may ask for a fee (e.g. $10,000) upfront and guarantee to get your campaign past $1MM in funding. There are no guarantees in crowdfunding, so be careful to avoid any Kiva (0% Interest Loan) Kiva is a 501(c)3 U.S. nonprofit fueled by passionate people. The Kiva community provides entrepreneurs access to 0% interest loans funded by donations. Rather than assessing your credit history and financial statements, Kiva uses your character and trust network as a measure of creditworthiness. First, you will be encouraged to join the community by making a loan to another small business owner. Then, you will be asked to invite a number of lenders to launch your fundraising. Once you have the support of your friends and family, your loan will begin publicly fundraising from the Kiva network of over a million lenders - without ever sending a credit report or bank statement. IndieGoGo This is a popular platform for people with a product. They offer crowdfunding as a service, and also support commerce and distribution through partnerships with Amazon and Newegg. company who makes such a commitment. Kickstarter A very well-known crowdfunding site, KickStarter is great for fundraising efforts big and small. While the site is aimed at creatives looking to fund projects, many use the platform to seek funding from every genre and industry. Many start-up companies have seen great success with the site. campaign reviews and critiques to all previous clients. There are a lot of sites to consider for crowdfunding. Make sure to read the fine print, understand any commissions you will owe, and clearly understand their process before selecting one that is right for you. What is Crowdfunding? Crowdfunding is a way to raise money through the concept of pre-selling or offering equity to many individuals. Typically, sites require that you create a campaign page with your business goals and then you are encouraged to share your page through social media. From there, family and friends can contribute an amount (from a few dollars to thousands) in exchange for future delivery of your company's product or service. As more people donate, your campaign can gain visibility to non-family and friends for broader support. There is no guarantee that you will get the total amount you are seeking, and it can be uncomfortable for some to ask money from family and friends. Crowdfunding is most successful for those with novel ideas and small funding needs (under $250K).

4 Bank Funding with the these institutions. Information obtained through bank interviews. Capital One Capital One is a great bank for small business loans as they have in-house SBA underwriting. Sometimes, small loans (under $35,000) can even be funded without a business plan. Chase Bank Caution: there is an emergence of 3rd party sites who offer to guarantee that you can land bank funding with their help. They may ask for a fee (e.g. $1,000) upfront and guarantee to get your loan approved with one of their banks. Beware: such guarantees can be made with "loan shark" like terms on the bank's end, so be careful to avoid any company who makes such a commitment. Chase is a great option with an in-house SBA underwriting team. Changes in their program in 2016 lead to new policy that says loan requests over $250,000 should be handled by a corporate representative, not your local branch. BBVA Compass BBVA is a lender who caters to business loans over $500,000. This is a traditional lender who is likely to heavily weight the contents of a business plan for feasibility. As with any bank, locations are limited and the bank currently operates in 7 states. Wells Fargo Bank Wells Fargo Bank is a preferred option for small business looking to secure loans against assets. This means trucking companies looking to expand their fleet, construction companies needing more equipment, and other asset-based business may consider Wells Fargo a viable option. Bank of America Bank of America has been a great resource for those in the medical community, as doctors and practitioners looking to open practice are one of the more welcome loan candidates for consideration. Credit Unions and Community Banks Smaller banks and credit unions are often able to offer the most competitive lending rates, but may also have stricter requirements on personal credit score and net worth value. personalized consults on which banks to consider for your business. Preparing for the Bank Every bank is different. Location, branch management, and economic performance all affect each bank and its' appetite for risk and preferred industries to invest into. However, there are some generic guidelines to help baseline you. Always start with a bank you have an account with. Some common elements to expect from most institutions: - Credit score minimum: 620 Down payment minimum: 20% Down payment minimum (SBA 7a funding, special circumstances): 10% Interest rate offering (SBA 7a): 2% - 5% Proof of income: 3 years of personal tax returns

5 Exclusive Offers Written Success Clients Only Sales Material Services Need a short, impressive document to show investors or something that "pops" to show to customers? Luckily, you have access to a high-quality resource that will design custom pamphlets, leaflets, or flyers for you to print. $250 per 2 page design. As always, satisfaction guaranteed. Endorsements & Referrals Are you interested in a public endorsement for your business? Since you have already used Written Success to support your company, eliminate the learning curve of someone new learning your business before they can properly endorse or recommend. These services are offered at no charge with client-paid economy travel: - Speaking Engagements - Commercial Appearance (Audio and/or Visual) What Else Do You Need? Written Success partners with Reverent to offer clients an exclusive deal on website development. They also do video promotion, commercials, social media management, and other things that are amazing quality at extremely competitive prices. Check out their site at reverent.tv and tell them you are a Written Success client to get a 10% discount. Need legal support or advice? SmartUp Legal helps with choosing the right entity for your business and getting advice from industry-specific attorneys. Check out their site at smartuplegal.com and tell them you are a Written Success client when you get a free consult. For more help on logo development, internet advertising, and CRM options for your business, contact Ashley Cheeks for targeted recommendations.