The Ultimate Guide to Funding a Business
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The Ultimate Guide to Funding a Business

Everything you need to know about working with investors or lenders
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
2 students enrolled
Created by Jonathan Patrick
Last updated 4/2017
English
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Includes:
  • 2.5 hours on-demand video
  • 5 Articles
  • 6 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Understand the different types of funding sources available
  • Which funding sources will work best for their situation
  • How to meet startup investors
  • What startup investors look for in an startup
  • How business loans work
  • How SBA loans work
View Curriculum
Requirements
  • No prior experience necessary.
  • An eagerness to learn new concepts and put in them into action
Description

Are you a new entrepreneur who is looking for funding? Or maybe you are an experienced entrepreneur? Either way, you can benefit from this course.

I designed this course to answer the most common question I get - "How can I find funding for my business?".

This course covers just about everything you need to know about funding a business through either working with investors or lenders. In the course I cover the following:

  • The various sources of funding available
  • How to meet startup investors
  • What startup investors look for in a company
  • How business loans work (by the time you are done you will know as much as the bankers do!)
  • More about Small Business Administration (SBA) loans
  • And more!

Not only will this course improve your chances of getting approved for funding, but it will save you time and money in the process!

Oh yeah, and on more thing. This course includes 5 FREE eBooks covering the material, just in case you like the written word.

Who is the target audience?
  • New entrepreneurs looking to raise capital
  • Existing entrepreneurs looking to raise capital
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Curriculum For This Course
Expand All 57 Lectures Collapse All 57 Lectures 02:32:25
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Introduction to the course
2 Lectures 02:31

A brief video welcoming you to the course and a high-level review of the topics.

Preview 01:34

A brief video detailing my background and experience to help you better understand why I am able to teach on the topic of funding a business.

Preview 00:57
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Section 2: Various sources of funding
1 Lecture 00:05

No videos this time. Capital can come from a variety of places. The attached eBook goes into a few of the most common sources of capital that entrepreneurs use to fund their business. Download away, it is yours!

Your eBook on the various sources of capital is attached!
00:05
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Section 3: How to meet startup investors
7 Lectures 16:23

A quick kick off message before we get into the how to meet investors section.

Preview 00:52

Many entrepreneurs discount the number of potential startup investors that they have in their sphere of contact.

Who do you know?
03:42

Pitch competitions are a great place to meet startup investors.

Pitch competitions
03:45

Startup accelerators and incubators are a great place to meet startup investors.

Accelerators/Incubators
03:39

While many people hate the idea of networking, it can be a great way to meet startup investors.

Networking
01:57

Online websites do exist, such as AngelList, that can help you meet startup investors.

Online sites
02:23

Attached is the written version of this material for your downloading pleasure!

Your "How to meet startup investors" eBook is attached!
00:05

This quiz is designed to test your what you learned from the section on meeting investors.

Quiz #1: How to meet investors
3 questions
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Section 4: What startup investors look for in a startup
11 Lectures 31:48

These sections answers the question, "What investors look for in a startup".

Preview 01:00

Startup investors like to see an experienced team, with different backgrounds and skill sets, running the company.

Team is 80% of the investor decision.
05:11

Startup investors like to hear about unique ideas that are not currently being offered in the marketplace. But you don't always have to reinvent the wheel.

A great, but not necessarily unique, idea.
03:22

Startup investors like to see a solution that has a large enough potential market size to become pretty profitable.

An addressable market size/market share
04:50

If you startup already has, or has filed for, patent protection then you are increasing your chances of landing a startup investor.

Intellectual property - copyrights, patents, and trademarks
02:38

Startup investors love to see ideas that are hard to duplicate and that create barriers to entry for competitors.

Barriers to entry
02:27

Startup investors love it when the founders of a startup have already invested some of their own money. Even if that means a small amount.

Skin in the game
04:18

When looking at two separate investment opportunities, a startup investor will almost always take the one that gives them more equity and is a "good deal". So, don't be too greedy!

Everyone likes a good deal
02:30

Startups that already have a lead investor tend to attract other investors!

Investors attract investors
02:40

Early traction or accomplishments
02:47

Attached is your written version of this section's material.

Your "What investors look for in startups" eBook is attached!
00:05

This quiz is designed to test your what you learned from the section on what investors look for in a startup.

Quiz #2: What investors look for in a startup
3 questions
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Section 5: How business loans work
33 Lectures 01:18:13

Let's switch gear and talk about how to get a business loan. By the time we are done, you may know as much about business loans as most banks!

Preview 00:39

A quick video to talk about the topics we will be covering.

About the business loan section
01:01

Attached are explanations of common definitions and acronyms used by lenders.

Some acronyms and definitions
00:06

The reason you need a business loan is one of the first things you will be asked. And the answer can't be "I need the money!".

Why do you need this money? Loan purpose
02:17

Avoid sending your business loan application to any and every lender you come across. Be start about targeting lenders.

What lenders should I apply with? Shotgunning deals
01:57

Banks have "appetites" for the types of business loans they prefer.

What type of loans does the lender like? Loan appetites
01:21

If a bank has had a bad experience with other business loans similar to yours then you could risk being declined.

How do others loans by the lender affect my chances? Loan portfolios
01:28

It can be hard to get a business loan if your industry is frowned upon.

Do lender avoid certain industries?
01:48

If a lender has lost money on a similar loan to yours, for example in the same industry, then you could risk being declined.

What if a lender has lost money on a similar loan? Loss ratios
02:31

How long it takes to get a small business loan depends on a few factors.

How long will it take to get a decision? Turnaround times
02:33

Here are some common documents you will need to have to apply for a small business loan.

What documents will I need?
04:25

Any good small business lender will look at your overall application and not let any one negative piece of information stop them from being interested.

How a lender underwrites a loan with a "global" look
02:45

Small business lenders use risk grades to score your loan. 

How does a lender score your loan? Risk grades
02:50

How will you pay your loan back? This is called a source of repayment.

How will you pay back the loan? Sources of repayment
03:04

How does my credit score affect a business loan?

What about my credit score?
04:37

What factors drive a small business loan decision? These are the "big three".

The big three ratios that determine if your loan will be approved
04:56

Any depreciation and interest should be added back into your income for a small business loan.

What items can be added back to improve income?
02:34

What is the difference between an unsecured and secured business loan?

Secured versus unsecured loans
01:59

What types of collateral will my bank want for a small business loan?

Will I have to use my home as collateral? Other collateral choices
02:43

Do I have to guarantee a small business loan?

How do personal guarantees work?
02:54

How many months or years can my small business loan be for?

How long will my loan be for? Loan terms
01:55

How is a small business loan payment calculated?

How many months can my payment be spread over? Loan amortization
01:27

How are small business loan rates decided?

What will my rate be?
02:26

What is the highest and lowest rate I can expect for a small business loan?

Rate ceilings and floors
01:16

How to get the best rate for a small business loan?

How to get rate discount
01:28

How do small business loans work for rental property?

Non-owner versus owner occupied buildings
02:40

How do SBA loans work?

SBA loans (more details in the below section on SBA)
04:26

How do I know my small business loan has been approved?

Written proof you have been approved. Term sheets versus commitment letters
02:55

Can I pay my small business loan off early?

Can I pay my loan off early? Prepayment penalties
02:32

What other requirements do small business loans have?

What are loan covenants?
02:37

What closing costs do small business loans have? What fees do small business loans have?

How much will my closing costs be?
02:14

What do I do if I can't get a small business loan?

What to do when or if you are declined
02:25

A quick thank you from me for getting through over 30 lessons of material on business loans. I hope you found the time to be well spent. I intentionally kept the videos short in length in order to be efficient with your time. Keep in mind that a written version of material is available to you for taking this course.

Congratulations on finishing this section! Free eBook attached!
01:24

This quiz is designed to test what you learned about business loans.

Quiz #3: Business loans
5 questions
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Section 6: More on Small Business Administration (SBA) loans
1 Lecture 00:05

No videos this time. Since we talked about SBA loans in the previous section, I wanted to take the material a step further. So, I have included my eBook detailing the ins and outs of SBA loans for you. Download away, it is yours!

Your SBA eBook is attached!
00:05
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Wrapping up and an offer for you
1 Lecture 01:11

Congratulations on finishing the course. Because I like to help other entrepreneurs and startups so much, I have an offer for you. Listen to the video to learn how to go about getting some free consulting.

An offer for you to get some free consulting
01:11
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Bonus material - an interview with a real angel investor
1 Lecture 20:09

Listen in to an interview I held with a real life angel investor. In fact, Eric Dobson runs the Angel Capital Group which has angel groups in 12 cities throughout the Southern United States.

Preview 20:09
About the Instructor
Jonathan Patrick
4.0 Average rating
31 Reviews
1,637 Students
4 Courses
Launch and grow the business of your dreams!

I am crazy passionate about helping people launch and grow the business of their dreams. More specifically I advise companies and entrepreneurs by focusing on the ways culture, innovation, and strategy can impact their businesses.

In hopes we can learn more about each other, here are a few things that define me:

  • Proud husband and father
  • Have helped entrepreneurs raise over $500,000,000 in capital between both debt and equity facilities
  • Founder of 3 startups. Each named “first-mover” in their respective industries (GoGrabLunch.com, Line12fund.com, FeasibleFunding.com)
  • Helped multiple companies improve their sales and net profit by 10x factors
  • C-level executive in the banking industry
  • Recognized as the top lending executive in my industry in 2014
  • Recognized for innovation in the banking industry for my Feasible Funding software solution
  • Led the top Small Business Administration (SBA) lender in my state for 3 consecutive years
  • Marketing degree and have run the Marketing Department for a 230MM organization
  • Regular pitch competition judge and incubator mentor
  • Board member for the Fairview Technology Incubator
  • Board member to one of the first healthcare co-ops in the United States
  • Board member to the second largest credit agency in the United States
  • Former professional mixed martial artist (MMA) and undefeated in my weight class
  • 1996 Point Fighting Karate Champion
  • Trained in Brazilian Jiu-Jitsu under the Gracie family
  • Have coached multiple people through massive weight loss (50+ pounds)