Every business project that needs funding is a great business project in the eyes of the borrower. Every project has great support, a dynamic team and fantastic potential. Nobody cares. They really don’t.
Here’s what happens in the real world.
Once a week a group of investors meet to review all the applications they have received that week to determine which ones they intend to fund. What they are looking for is a 2 page Executive Summary. Page one describes the project. Page two shows the financials.
Let me put this another way.
Executive summaries more than 2 pages and business plans longer than 12 pages are never read.
Project funding is serious business and investors and funders have no time for playing games with clients who think submitting pages and pages of documentation to support their application is the best way to get funded. Borrowers who do this are making a huge mistake. Repeat huge mistake.
Remember it this way – the investors have the money, therefore they call the shots. Pretty simple eh? So more than likely, what you think you need to get your project funded, you probably don’t need at all. So why waste time, especially your own, on preparing documentation which you’ll never need. Let the investor tell you what he needs, then provide it. And if things go wrong, you only have yourself to blame.
These are not harsh words. This is business. This is fact. You don’t have to like it, but if you really want funding, you will follow these steps. Anyone telling you anything else is lying to you.
Your great business project idea is not relevant to being granted business finance.
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