Can I still get a Loan if my business recorded a loss? | SF Capital

Описание: Welcome back to our Finance Myth Busters series where we answer common questions Business Owners face when getting a loan.

Have you ever recorded loss on your businesses Profit & Loss Statements, and thought to yourself - my bank is going to hate this, how am I going to get a loan?

Perhaps this loss was intentional to lower your taxes that year.

Maybe you even felt like you had a strong year - and that’s why you decided to spend the extra money to renovate your warehouse, try that expensive marketing campaign or purchase a new motor vehicle.

Well generating a loss on your financial statements, doesn’t automatically mean you can’t get a loan.

This is because an Accounting Loss is not the same as the underlying cash flow your business might be generating, and that can be used to service a loan.

In other words, a paper loss, may not be the same as the true income that your business is earning.

It’s important to recognise this so you don’t rule yourself out too quickly from applying for a loan, and instead seek help to analyse your financial statements and present them in the right way to get your loan approved.

In this video: Tommy Lim, Managing Director, SF Capital

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