From the course: Financing Your Business
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Determining how much you need
From the course: Financing Your Business
Determining how much you need
- Let's talk about how to prepare for financing. There's some important questions that lenders may ask, and if you're prepared with the answers, it's going to make the application process much simpler and faster for you. Not all lenders are going to ask the same questions, but, again, if you're prepared, you're in a much better position to get a wider range of options that you can choose from. The first question is how much do I need? "New York Times" bestselling author Craig Carlson was a filmmaker in Los Angeles, and he decided he wanted to open the very first all-day breakfast diner in Paris. He had no capital of his own, So he had to raise money from investors and spend a lot of time understanding and learning how much he might need. But as prepared as he was, he almost ran out of money. First, he lost out on his first location that he chose and ended up paying an expensive deposit to the landlord who was going to lease…
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