In this guide
13 · Prepare for loans, investment and grants
Prepare a file that can explain the reason for the money need, the amount and the usage plan.
Put it into practice
- Calculate the funding gap and use of funds
- Compare repayment, dilution and eligibility conditions
- Prepare forecasts and supporting evidence
Further reading: SBA · Business planning resources ↗
Prepare an evidence file
A fictional founder seeks resources for a pilot. Separate achieved sales from projected sales. State what the funding would buy, what milestone it would test and what happens if the milestone is missed.
Your worksheet
Use of funds; evidence; assumptions; milestones; downside case; open questions for an adviser.
Check your work
Do not describe an application as approved or funding as guaranteed. Compare actual terms with qualified advice before committing.
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