If you are starting your own business, there are times when the capital you have is not sufficient to develop your business, so you need additional funds as business capital. One alternative that can be taken in getting venture capital is the submission of loans with guarantees slot bonus or without guarantees.
In reality, with many facilities in getting loans by debtors, but sometimes not followed by how to manage the right business finances. On this occasion, the BFI Finance Team gave tips on how to use and manage loan funds carefully so that your business can be successful, as well as avoiding losses due to not careful in managing loan funds. Check out tips on managing the following loan funds.
This is how to manage BFI Finance -style business finances
1. Make a mature financial plan and business
Before you decide to apply for loans online and conventionally, you must plan your finances carefully. Whatever you need to develop your business so you can have a picture of how many additional funds you need slot deposit pulsa.
Also take into account the income and expenses you get per month. Is it enough to pay a loan? With a mature business planning, you can find out the loan funds that are needed and can borrow according to your payment ability, while keeping your finances stable.
2. Pay attention to the loan ratio to income
In applying for a loan, you must also pay attention to the loan ratio to your income or known as the Debt Service Ratio. Ideally, the debt or loan ratio should not be more than 30% so that your finances remain healthy, and avoid the risk of bad credit slot. In addition, this also shows your ability to pay and affect your credit score.
3. Record the cash flow regularly
Make a note regarding cash flow or your business cash flow regularly. The business records include total loan funds, loan bills, as well as profits and expenses per month. By making neat bookkeeping, you can take into account the budget that is felt to be reduced or added so that the existing funds can be allocated more effectively.
In addition, this is also useful to avoid the risk of bad credit or fines because it is late paying installments. You can find out the remaining loan funds, loan tenors and how much should be allocated per month to pay installments.
4. Separate Business and Personal Funds
One of the most important suggestions in running a business is to separate business and personal funds. This is to find out whether you are profitable or loss, and so that you are easier to make financial statements, and do not interfere with your cash flow. That way, you can see whether your loan funds are used are effective and so that they can be allocated more optimally.
5. Pay attention to the assets, debts, receivables you have
The following way of managing business finances should not escape attention. Know which you become your assets, debts, and receivables. For example, do not use new debt to pay old debts. Make a list or inventory of assets you have ranging from the smallest to the largest assets. Also note whether there are depreciation and maintenance costs from your business assets that cause the selling value of your assets to decrease in the market. In addition baccarat casino, is it necessary to guarantee assets back for your business development purposes? By knowing the assets, debts, and receivables that you have, surely the continuity of your business is more smooth.