As the global economy continues to decline, investors are more reluctant to dish out the cash many entrepreneurs and aspiring business owners need. Nowadays large financial institution’s and venture capitalists are increasing their lending requirements.
Banks need to know several key things before they will part with their cash, says Mike Michell, RBC’s national director for small business.
“Help us understand why you’re so excited for the business, what specific use the money is going to, what your revenue projections are, and who is behind the business,” he says.
In these uncertain times, nobody is willing to accommodate more risk. The best solution to lowering your risk is to lower your entire operating costs.
Jiffy Workspaces were built to provide entrepreneurs an affordable option, making it easier to secure business loans.