Learn about our Business Consulting
WHAT WE DO
The success that Finncy has achieved for our clients is made possible because we understand every aspect of the business funding process.
Banks and non-bank lenders have specific guidelines which are confusing and obtuse. We help you understand this complex process.
Finncy extends this expertise into various essential services that solve the majority of funding obstacles encountered by business owners and entrepreneurs alike. Additional information of these unique services is listed below.
Each and every business is different. For this reason, we take the time to review each file with the business owner before trying to match a lender. We take the time to do a comprehensive review on their entire business file, everything from incorporation structure, credit scores and reports, business finances, business plans and much more. We will have an honest and open conversation and tell you all the good and bad things about your file.
The process of lending can be simplified by simply taking the time to understand what each lender is looking for and seeing how a borrower’s application fits those criteria. Acknowledging the good and bad aspects of an application allow for open and honest dialogue with our funding advisors which in turn allows them to advise on the best funding options available to each unique application.
It is well known in the small business community that obtaining business financing is a complicated and daunting process, but it doesn’t have to be. By having a strategic partner in your corner who understands the current lending market, the confusion is removed. Finncy is a partner who is dedicated to achieving the end result, getting the required funding for your business.
We have partnerships with lenders which enable us to understand their lending criteria and accurately match the right lender to the right business, saving all parties a great deal of time, money and energy.
Obviously there are no guarantees, but through our resources we can help your business obtain access to a variety of different business financing options such as; Business Lines of Credit, Startup Loans, Small Business Loans, SBA Loans, Merchant Cash Advance and many other options.
For those entrepreneurs that are completely new and are just starting to build their business, we have packages that are customized for their needs.
Our team provides a range of different services ranging from entity incorporation services, bank ready business plans, website creation and much more.
BUSINESS PLAN DEVELOPMENT
Some lending institutions require a business plan with the application. A perfect example are SBA loans, which we commonly match our clients with. Even if a lender doesn’t specifically ask for it, we still include it with the application and we see a significant increase in approvals.
Our team will work with you to understand your business and then create a strategic bank ready business plan detailing your business strengths and weaknesses, your staffing projections, your competitor analysis, the size and growth of your industry, your projected revenue and expenses broken up month by month for the coming years, and what the money is going to be used for. When this business plan is presented to the lenders, it gives them more information to understand the business that they will be financing.
LOAN PACKAGE PREPARATION
When applying for financing, all lenders have different requirements in terms of application forms, required documentation, business plan, explanation of use of funds, equipment inventory list and various other supporting documentation etc. A loan package will need to be created before submitting a loan application and is a critical part of the loan process.
Many lenders will automatically reject an application if it doesn’t have all the required documentation . Our team takes out the guesswork from the process by handling the entire process for our clients and ensuring that an application is always presented to the lender with all required documentation leading to a significantly improved probability of being approved.
FUNDING SOURCE ACCESS
With access to a full credit spectrum of lenders, we believe we can find a lender to fit almost everyone. Having relationships with lenders allows us to have our clients go to the top of the pile and not be treated like a number. Many of our partner lenders have provided us with their exact lending criteria allowing us to know if a business is a good match even before their file is sent to the lender, this enables us to save time for all involved by ensuring that we only match businesses to lenders that are highly likely to provide them funding.
Our lending managers are highly trained to use our lender matching platform. Our platform allows them to ask our borrowers a series of questions to fully understand their file and from there, our platform will tell us who the most suited lenders are. We will not simply send a client’s file to a bunch of lenders; this is a bad experience for all involved. We take the time to work as the liaison between the borrower and the lender. Although there are no guarantees, we are extremely confident that if we take a borrower to a particular lender, it is because the criteria match up correctly for both parties. If a borrower is declined by a lender, we will go back to the drawing board, re-evaluate their file and match them with a new, more suitable lender based on the new information.