Would your business be FundingReady tomorrow?
Running a business rarely feels completely predictable, but the current economic climate is making financial planning particularly difficult for many small and medium-sized businesses. Rising costs, slower customer decisions and pressure on cash flow can all make it harder to balance today’s commitments with tomorrow’s plans.
In circumstances like these, it is understandable that funding often slips down the priority list until there is a specific reason to think about it. Perhaps a new contract has been won, equipment needs replacing, an additional member of staff is required or the opportunity arises to purchase commercial property. Sometimes the need is less positive or predictable, such as a major customer paying late or an unexpected cost putting pressure on working capital.
Whatever the reason, the question is the same: if your business needed funding tomorrow, how well prepared would it be?
Lenders will consider much more than the amount you want to borrow. They are likely to look at your recent financial performance, profitability, cash flow, existing commitments, management information and the strength of your plans for the future. They will also want to understand why the funding is needed and how the business expects to manage the repayments.
None of this should prevent a good business from securing finance. However, when funding is needed quickly, there may be little time to address gaps in financial information, explain an unusual set of results or consider whether existing borrowing is still structured in the right way.
That is why we have introduced **FundingReady by FundingRound**.
FundingReady is a complimentary, no-obligation funding readiness review from FundingRound. It helps business owners understand how commercial lenders may assess their business, what could support a future business finance application and which areas might benefit from attention before funding is needed.
What does a funding readiness review include?
We will consider the strengths that could support a future application, identify any areas that may benefit from further attention and talk through the types of commercial finance that could be relevant, including business loans, asset finance, invoice finance, working capital facilities and commercial property finance.
Following the conversation, you will receive a personalised **FundingReady Summary and Action Plan**. This will bring together the main points discussed and set out practical actions you may wish to consider. These might include improving management information, reviewing existing commitments, preparing forecasts or simply beginning a funding conversation earlier.
FundingReady is not a formal lending assessment or a guarantee that finance will be available. There is no application form, no paperwork to prepare and no obligation to proceed with funding. It is an opportunity to step back, understand where your business stands and become better prepared before finance is urgently needed.
That preparation matters because funding is not only about dealing with difficult circumstances. It can also allow a business to respond quickly when the right opportunity arrives. If a new contract, property, acquisition or investment opportunity appeared tomorrow, you would want to be considering its potential, rather than starting from scratch to establish whether funding might be possible.
You cannot predict every challenge or opportunity that may be around the corner. You can make sure your business is better prepared when it arrives.
**Would you like to find out if your business is FundingReady?**
If you are considering future growth, reviewing your cash flow or simply want to understand how prepared your business may be for commercial finance, FundingReady gives you a practical place to start.
Contact the FundingRound team to arrange a complimentary and confidential FundingReady Review. You will receive an honest assessment of where your business stands, along with practical actions that could help you become better prepared before funding is urgently needed.