As a business owner, securing funding is crucial to achieving your growth objectives. However, it's not always easy to attract the financing you need. That's why it's essential to ensure that your business is fundable.

To help you get started, here are five key factors to consider when assessing your business's fundability:

Credibility:

One important factor of business fundability is a track record of success. Your business must have a track record of success over a period of time. In addition, the entrepreneur must be an expert in his/her field and possess the ability to articulate his/her business model. Investors and Partners want to see a track record of success. You must have a proven record of delivering results, and you should be able to articulate your business model with confidence.

Scalability: 

Business model scalability is the ability of a business to increase productivity without creating significant additional costs. A scalable business model is made of various scalable elements, such as underlying profitability, the ability to automate core processes as scaling is achieved, and a strong distribution network to build a solid business. A scalable business model is critical. Investors and Partners want to see that your business can grow without creating significant additional costs.

Realistic Valuation:

One of the greatest problems entrepreneurs faced in business funding is business valuation expectations. Business valuation and projections must be realistic.

The value of a business is the present value of all expected future cash flows and their growth, discounted to the present at a discount rate reflective of the risks associated with the receipt of those cash flows. Most businesses are not fundable because the business appraisal reports reflect unrealistic projections and expectations. Unrealistic valuation and projections can be a deal-breaker. Make sure your valuation and expectations are realistic and reflective of the risks involved.

Information Technological input: 

Nowadays, the use of technology is necessary for every business that wants to attract investment because it helps business processes, such as increasing their service, sales, efficiency, and productivity.

No matter what the size of your enterprise. Technology has tangible and intangible benefits that will help you make money and produce the results your investors demand. The use of technology is essential for attracting investment.

Competent team:

Achieving a business goal typically begins with the ability to select and manage an efficient team. Can your present staff base achieve the projections highlighted in your business appraisal reports? 

At Advans La Fayette Microfinance Bank, we understand the importance of funding for businesses. We're ready to fund your business.

Don't miss out on the opportunity to take your business to the next level. Contact us today at 07000238267 or via WhatsApp at 08151770000 or email us at customerservice@advansnigeria.com to learn more about our loan offerings.