With 25 years of experience, Kilpatrick and Hart, Ltd, Inc, has a database of more than 300 lenders, investors, and investment banking firms for its commercial funding clients. Using an eight-step process to fund projects like apartment buildings, construction loans, and vehicle wash systems, Kilpatrick and Hart works with national and international clients to secure commercial funding.
One of the first and most essential components of any commercial funding application is an effective business plan. It shows lenders that applicants are serious about whatever projects they wish to undertake. In a business plan, an applicant should include a list of objectives and a plan for achieving them. Not only does the identification of goals and objectives by an applicant demonstrate to lenders that thought has been put into future possibilities, but it also helps give lenders a benchmark by which to judge a commercial venture’s progress.
Another important component of a business plan is the funding request section. There, an applicant should include current funding requirements and projected requirements for the next five years. Additionally, the applicant should indicate any strategic financial situation plans for the next five years – for instance, a buyout or the selling of the business. Situations such as those can significantly impact the applicant’s ability to repay the loan.