INTANGIBLE CAPITAL VALUE

by Erwan COATNOAN DE KERDU

Your copilot in creating a successful company

Putting together a good file to obtain a bank loan

  by Erwan Coatnoan de Kerdu

As an entrepreneur, it is not always easy to finance your project and convince the bank to support you. However, here are several tips that should help you create a favourable file to obtain a loan from your bank.

As an entrepreneur, it is not always easy to finance your project and convince the bank to support you. However, here are several tips that should help you create a favourable file to obtain a loan from your bank.

The ecosystem as the value-added of your support

A young company such as a start-up has not yet had time to prove itself. For a bank, it is essential to be able to rely on tangible data to determine the potential of a structure seeking a loan. And to do that, it needs to be able to rely on the ecosystem. Indeed, the organizations and individuals that support the entrepreneur in his or her endeavors are the real advocates of the company. And they can provide valuable information to the bank seeking to validate a loan. The initiatives are anchored in an ecosystem: the companies that are able to demonstrate the feasibility of their project thanks to this ecosystem win the favour of the bank more easily. And get their loan. 

The team: complementarity and balance

The entrepreneur must know how to surround himself with a solid team, composed of complementary and competent members. To obtain a loan, he will certainly have to present his team to the bank. Because if the founder of the startup, as well as his course, his implication and his experience are essential, it is the same for the team which accompanies him! Therefore, these collaborators must be able to judge the value of the company, even before it has been able to prove itself. It is this team that will carry the project. The choice of the people who compose it is therefore crucial. It must be relevant and coherent.

Here, the element to be taken into account is the experience of each person, as well as their background. The bank will rely on the composition of the team to judge the coherence of the choices and the project of the entrepreneur. Know how to surround yourself with the best. And above all, focus on people: banks invest in people (and especially in you) at this stage of the project. Talk about yourself and your employees and highlight them.

Other tips for building a good case

Bankers never overlook the financial aspect of the project. Plan a clear and precise presentation of your current cash flow. Also detail all the terms of your financing plan. The bank wants to have an overview of this plan and your intentions. The document you present should contain a statement of your financial needs, as well as your resources and your financing needs.

On the other hand, be sure to outline the economic and commercial conditions of your project. This is a strategic step. Banks are sensitive to the potential of the market you are targeting. Demonstrate that your approach is logical and coherent by using precise figures. You can also draw up a diagram of your means of distribution and production.

Finally, learn to value your innovation and its competitive value. For banks, it is essential to position an innovation on a market and to be able to characterize it. And this, in order to anticipate all the financial efforts to come: recruitment, communication, marketing, etc.

Things to remember

To build a good file and get a loan from the bank, do not hesitate to highlight the organizations and people who accompany you. Take advantage of this to focus on the human side. As well as on the experience of the founder of the startup, as well as its employees. Finally, differentiate your company from the competition and learn to position your innovation on the market.

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