Capital Compass: Your GPS for business financing
By John Hamilton
The Community Loan Fund has created Capital Compass©, a GPS for business financing
In this economy, one of the saddest things to see is a business with a strong management team shelve its growth plan because it can't find the right kind of financing.
Most business owners I know are experts in their fields, but they're not experts in all of the types of financing available to them. If they knew more about each option, and about the factors that make each option more, or less, suitable for their business, they might be able to dust off those business plans.
|Capital Compass© video tutorial|
Those business owners need a GPS for business financing, so we at Vested for Growth and the New Hampshire Community Loan Fund created one. We call it Capital Compass©.
Capital Compass© is a free, confidential online tool that asks a series of 14 multiple-choice questions about a business and its ownership. Each answer sends a numerical value to three dials representing the three main types of business financing: debt (traditional bank-type loans), royalty, and equity.
Each answer moves the dials, Capital Compass© displays that answer's numerical weight. "Plus" answers push the dials toward green, indicating greater suitability; "minus" answers push the dial to red. Users can click on a question mark next to each question for more detail on how that answer affects their score.
Nowhere on the tool do we ask for any identifying information. You can submit your answers, have them emailed to you, and use them to discuss your situation with other lenders.
For New Hampshire businesses, though, we offer a 30-minute phone consultation during which we're happy to discuss your Capital Compass© results and what they might say about your capital options.
If you're a business owner ready to grow, check out the Capital Compass©. It might point you to the right kind of capital for your company.
John Hamilton is the Community Loan Fund's Vice President of Economic Opportunity and Vested for Growth's Managing Director.