1.
Making Applications for funding
Ken Germaine

2.
I want to talk about…
What is available and from whom?
Criteria
How to deal with agencies/banks
What do you need
Q&A

3.
Where can you get funding?
• Personal investment
• Bank loans
• Credit union loans
• Bank overdraft
• Financing
• Grants
• Friends and family (only if you must)

4.
Financing Your Plan
Where do you need to bring your business?
What extra resources are needed?
What are these resources needed for exactly?
When do you need them exactly?
How will these investments pay a rate of
return?
Cash flow versus profit?

5.
City & County Enterprise Boards
Grants
• Feasibility
• Capital
• Employment
Loans
Preferred share investment
Other: TechCheck etc.

6.
City & County Enterprise Boards
Criteria:
• Manufacturing or internationally traded
• Must be operating within their area
• Must be approved in advance
• Funding is retrospective
• Being merged into the local authorities
• Enterprise Ireland

7.
Private investors
• Business angels are private high-wealth
individuals.
• Usually want a proportion of the business
• Need to be a limited company
• Halo business angel network - DBIC
• VC involvement usually comes in stages: test,
start up, growth, mezzanine and exit
• VC involvement usually results in IPO

8.
Bank applications
Campari anyone?
Character
Ability
Means
Purpose
Amount
Repayment
Insurance

9.
Bank applications
• Approval by central lending unit in Head
Office not local bank manager
• You will not meet the person assessing your
application
• They can only assess the strength of the
documentation that you present to them
• Its all about the documentation…

10.
Bank applications
What documentation?
• Application form
• Business plan
• Audited or management accounts
• Note – credit check

11.
Contents of Business Plan
 Cover Page
 Acknowledgement (optional)
 Contents
 Executive Summary
 Management Plan
 Operations Plan
 Sales & Marketing Plan
 Financial Plan
 Implementation Plan
 Appendices

12.
Conclusion
There are funders available
You need to be sure that what you do meet their
criteria
Don’t waste your time and theirs
Present solutions not problems
Documentation is very important, especially for banks
Business plans

13.
Any Questions
Kenneth Germaine
Mobile: 083 405 1321
Blog:
http://startyourownbusinessblog.wordpress.com
Web: www.germaine.eu.com