When you are starting a business it can be easy to get so caught up in the details that you miss the big picture. What are you doing for the economy in the area, the community, and people? Are you offering a much needed service such as overnight childcare so moms can work at night? Will your business offer new jobs in an area that is lacking employment opportunities? Can you sponsor sports teams? These things are important to pay attention to. Why?
Why Should You Care?
Aside from the fact that it is good for business, which is good for profits, it is also great for helping get financing. A lender that is on the fence might see the benefit to the community as exactly what is needed to tip the scales.
What Can You Offer?
Lay it all out, in as much detail as possible. How many jobs will you create? How will you give back to the schools or youth programs? How will your service help the community? This is not an area to be shy, but be certain you do not say anything you do not intend to follow through on either. Be certain you do not bite off more than you can chew.
Keep the Budget in Mind
It is best to budget for the cost of these types of things ahead of time. The alternative is risking not being able to do anything or doing it anyway and then paying the price on the back end by going over budget. Set aside an amount to spend each year, quarter, or month on community relations and the return is likely to be worth even more.
When you are ready to look for a lender, Biz2Credit can help. Our network of over 1,300 lenders can help you find the perfect small business loans for your needs. Visit Biz2Credit today to find out more.