by Harald Von Richthofen,
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on the net: http://www.ireus.nl
NETHERLANDS, May 03 — These things happen all the time. Would be entrepreneurs are preparing detailed business plans featuring innovative ideas and heading into their local banks, only to turn around and walk out without the loan they need to get their idea off the ground. Many of these entrepreneurs are eventually able to obtain the necessary funding through an alternative source, such as Tom Moore through business capital brokers. " The projects are screened by these brokers and they provide me with a more diverse selection of opportunities that match up with my qualifications
T
hese things happen all the time. Would be entrepreneurs are preparing detailed business plans featuring innovative ideas and heading into their local banks, only to turn around and walk out without the loan they need to get their idea off the ground. Many of these entrepreneurs are eventually able to obtain the necessary funding through an alternative source, such as Tom Moore through business capital brokers.
for someone who is not interested in turning over the reins of their company to another individual as can be required when working with a venture capitalist or with individuals who will invest but want to sit on the board or have their hands in daily functions, a private lender is probably something to consider.
Private lenders will want to gather all of the same information as a regular bank would and will conduct due diligence in roughly the same way before making a decision to loan money. They are seeking excellent idea which are presented at the right moment, and come with a business plan that has no holes, allows for contingencies, forecasts realistically, and has the backing of people with professional experience who will also have a financial stake in the business. Unlike big banks, alternative lenders are most often people who specialize in making loans with a higher risk because they have a clear understanding of the possibilities that go along with that risk and they have a grasp of certain markets and types of business. Alternative lenders often will take on projects that banks will not accept and will have a creative structure for repaying the loan as well as provide resources that can be helpful.
As an example, Mr. Moore’s background is in automotives and in keeping with his skill set, he has provided funds for manufacturing in the auto sector, transportation and trucking businesses, and automobile dealerships. And although he does not have a medical background, he has also provided funding and capital for physicians’ practices to combat the shortage of medical staff and because physicians have proven themselves to be responsible about their debt. He also finds funding businesses such as wineries attractive as they have a high value product which provides extra security. He also often provides funding when rescue or emergency monies are needed.
Regarding how he makes decisions about which projects to fund, Mr. Moore says with a laugh, "you do the best due diligence you can and then, it’s just like gambling at a slot machine. You drop money in the slot, take your chances, and hope for the best. You know from a statistical stand point that some of the businesses will fail while other are very successful. You learn more from the ones that fail." Mr. Moore has been at this for over 20 years and has developed a method of evaluation to assist him in choosing the businesses that have the best chances of being profitable and having long term success.
Most alternative lenders maintain a very low profile, and Mr. Moore says that many of the projects he hears about and chooses to take on are passed to him through business capital brokers. " The projects are screened by these brokers and they provide me with a more diverse selection of opportunities that match up with my qualifications." Business capital brokers have established relationships with thousands of alternative lenders and high risk investors, so your best bet is to get the broker on board with your business plan, so, that he or she will make sure that it is forwarded to the right alternative lender or investor.
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