Identify the What, Where, When, Plus More of How to Be an Attorney Banks Love
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Identify the What, Where, When, Plus More of How to Be an Attorney Banks Love
Sign up for free banking resources!
Envision a world without cash crunches - a world where you have access to the cash you need, any time, all the time, with minimal to no strings attached. CathCap is providing free information on how to turn yourself into a more bankable business owner, capable of getting the loans and credit you need to grow.
Do Banks Want to Give You Money?
You're a lawyer, not an underwriter. You know the law. But no one trains you on the complexities of business banking.
- Why did I get turned down for a loan?
- How can I get a strong line of credit?
- Why won't banks lend me the cash I need even though I am profitable?
See, the problem most attorneys have is that they know what it takes to make money, but they don't always know things like:
- When to take a short-term loss in order to make a long-term gain.
- How to hold banks hostage, rather than the other way around.
- When and how to apply for a loan or line of credit (and no, it's not just "go to bank").
Did you know that saving money on your taxes can sometimes cause you to be turned down for loans? Did you know that lenders are more likely to approve a loan if it is being used for a growth investment? Did you know that the best time to get a line of credit is when you don't need it?
They say desperation is an unattractive trait in a potential romantic partner, so it's no surprise it doesn't really woo bankers either.
Learn How to Make Yourself More Attractive to Bankers
There's an art and a science to obtaining a loan or line of credit from lenders. You have to come into it with the right numbers, a little bit of foresight, and a plan.
You also have to consider applying with all of those things long before you ever even have a cash crunch and, if it's too late and you need a loan now, then you have to know exactly what you can do to get access to the cash you need.
At CathCap, we've compiled several useful resources to help you be a more bankable business, including:
- A spreadsheet using the most common ratios bankers look at to determine if you are bankable
- A Personal Financial Statement with tips and tricks to make you more attractive
Once you've had an opportunity to utilize these resources, you'll find that you'll be:
- More aware of what makes a more "bankable" business and why you may have struggled.
- The ability to identify the true cost of a loan.
- More desirable to bankers - able to have banks compete for your business.
- Prepared in the event of a cash crunch, without being forced to take on a high-cost loan.
Part of our role as CFO to so many attorneys like yourself, is guiding better banking and financial management decisions. It's why we have created and compiled these resources, to give you another tool that you can use to ensure that you're an attractive asset to banks to help your business succeed.
“As great as everything is in my business, it is the impact on my personal life that has been the most momentous. I no longer wake up in the middle of the night worrying about payroll, or if I will have enough clients to cover the cost.”
Maria Zimmitti,
Georgetown Psychology
Banking on Your Success and
Positioning Yourself as a Risk Worth Taking
Every attorney will eventually run into cash crunches or need some extra financial support to grow. It's what happens when you run any type of business, and especially common in the legal field.
But despite your revenue, your income, or your potential for high profits, most attorneys are also seen as big risks. That is why it is so important to make yourself "bankable" and to understand the choices you have available to you as you try to obtain the loans, lines of credit, and the financial support you need.
Here at CathCap, we know from experience what can happen if you're an unbankable firm, and since how bankable you are is not just based on how much money you're bringing in, we also know how important it is to get a better understand of what makes a bankable firm and what you can do to get the financing your organization needs.
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Bankable Resources
Who We Are at CathCap
Cathedral Capital (CathCap) is a fractional CFO firm that partners almost exclusively with attorneys. We consider it our role to help your business with its finances, operations, and more, so you can stick to what you do best: helping clients, driving revenue, and - ideally - enjoying your work.
Let us handle some of the tougher business decisions, using our decades of combined experience to integrate data, science, and more in ways that boost profits. You get to continue doing the parts of the firm that you enjoy the most.
We are more than happy to show you how we continue to support hundreds of law firms with their financial management and operations. Schedule an appointment with one our CFOs today or visit www.CathCap.com to learn a bit more about who we are and what we do.
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