In this post:
Documentation from Fintechs, etc. – Those new financial tools; eCommerce platforms, online short term Loans, total reporting,
CE and Sustainability Certificates
…a list at the bottom of other posts in this Money for Small Businesses series
Financing a Small Business/2
Money Available for Small Businesses? – Preparations when setting up Circular Re-thinking projects
ESG Common business sense says…..
Any business considering the move from Linear to Circular production should remember to build their business plans with ESG documentation (Environment, Social and Governance) in mind. Where to find reports, etc.?
3. Documentation from Fintechs, etc. – The new financial tools
They not only “speed up” in & out cashflow, they offer small businesses “orderly documentation of credit, cashflow, worth”. Young businesses need these, to get financing. No doubt the digital age requires that all businesses have at least one “web savvy employee or consultant “. Eventually, of course, an accountant. But first keep thinking “documentation” – “reporting” for example, from eCommerce platforms like:
Detailed reports are built right in, with reporting that focuses on your company’s performance — and is included in your monthly subscription.
Reporting: Sales, refunds and coupons over time.
>>Then there are the online short term Loans – with reports
The Kabbage platform steadily monitors customer data to gain an accurate picture of “financial health”.
A line of credit in 10 minutes to a few days>>>
Minimum requirements for approval:
1. your business needs to be at least 1 year old.
2. You should have annual revenues of $50,000 or at least 3 months of monthly revenues of $4,200 per month.
>>These websites often have free calculator tools; “Loan” Calculator and “Return on Investment” Calculator. Anyone can use them to do some thinking and re-thinking.
Small businesses can borrow quickly / easily, while investors can make a return and an ESG difference in their lending.
>And then you can move on to “total reporting” such as:
Customise your reports for your business, so you can quickly run them and get updates whenever you need to.
??Free accounting software >> look under “pricing” !!
*No set-up fees, no hidden charges, no monthly fee. You get Wave’s accounting, invoicing and
receipt scanning software 100% free. *Comparative Reporting; to track your business health.
*We’ve added the ability to compare two periods directly from your Profit & Loss and Cash Flow Statements.
Demand has already made some of these apps free for the first 30 days with no credit card disclosers, if not completely free.
The Reports, the Documentation!
Being able to give a bank / lending company as many relevant production system documents and sales reports as possible only makes it easier and faster for them to decide. ……………………And along with these……….
4. CE and Sustainability Certificates when Financing a Small Business/2
There is strong evidence that companies that upgrade their sustainability are more profitable and more productive. Lenders now consider these factors along with a company’s ability to repay loans. Sustainability certification is ESG Common business sense. One of the things that suppliers need to qualify with those large companies, is also what Lenders and investors are requesting now.
That page of certificates on your website, that your customers want to see, should include a sustainability certificate. There are lots. Look for the ones that meet your needs:
What is C2C certified ? Watch this:
- Cradle to Cradle
- ASU online certificates
- MOOS – TUDelft
- http://www.standardsmap.org/identify The Standards Map provides information on over 210 standards, codes of conduct, and audit protocols. They address sustainability hotspots in global supply chains. Identify a set of voluntary standards. These can apply to your product/service, producing country and destination market.
- Vegan certification – If you have buyers that are in the Vegan market. Katrina Fox, founder of VeganBusinessMedia.com suggests that you consider certification from the Vegan Society (UK) or Vegan Action (US). And there are others such as https://www.peta.org/about-peta/how-is-a-company-certified-as-cruelty-free/
- Consider Self Verification vs. Certification – if you buyer offers it
At Unilever – 2 ways to ensure raw materials are ‘sustainably sourced’; 1. Unilever recognised certification standards or 2. self-assessment using the Unilever Sustainable Agriculture Code.
- https://www.environdec.com/ – An Environmental Product Declaration (EPD) is a document that communicates verified, transparent and comparable information about the life-cycle environmental impact of a product.
Remember to consider:
- Reviews about any standards or certification organization you are considering, before spending money.
- Look for lists, such as : https://sustainable.org.nz/guide-to-sustainability-certifications/ with recognizable certifying organisations.
Financing a Small Business/2
*This is a 3 part series with suggestions for financing a Small Business project:
Part #1 – Keep an Open Mind & Incentives offered by your Buyers
Part #2 – Documentation & CE and Sustainability Certificates
Part #3 – Private Funding & Government funding
and now 2 additional post about Waste Commodity tools.
and Waste Online Tools! There Are More Of Them!
The 2 Reports To Help GREEN Small Business Find Money
After COP 26 – Who Says There Was No Progress?
Intense Financial Talks At COP 26
Horrific Disruptive – Economic Opportunity!
Have You Been RE-THINKING Your Business?
How To Finance Your Own “Green” Recovery – 8 Tips For Small Businesses
Petition For Planet Earth Or Protest In The Streets?
(Remember our disclaimer: any company or website mentioned herein are only examples and should NOT be taken as recommendations or endorsements, unless specifically notated.)