Right from the basic needs to the very luxurious items one would need finance for getting on with the price tags they have. The finance can be either from his pocket or it could be from finance organizations. When term finance is in market it could be several financial institutions, some for car financing, some meant for house, some meant for education and some meant for starting a new venture. The reasons could be several for availing finance and the companies could be wide enough to meet these reasons but still each finance stream will have its own finance market size.
Whether you already have an executed plan for business, which you want to extend, or if you are starting afresh with a new plan, for both the cases you need finance which has to come from various companies. However, to our fortunate we could find several companies that are into financing for various purposes.
All that you need to do before placing any application is to understand which field you want to enter into so to know which companies are offering finance related to your necessity. In addition, you should be able to analyze the finance market size of the stream, which you are looking into so as to understand the difficulties in getting the loan approved from the companies.
Hence, a financial planner has to follow some simple steps. First and foremost as suggested would be to define which target market you would like to apply for or which target customer segment you want to support for if you are starting one. This helps the task easy as you cannot apply for each and every finance company and then be denied just because they do not offer for your reason. For example, you cannot reach out to a car finance company and ask for house loan.
In addition, you should clear understanding of the finance market size, which helps you find the funds you have. You should also be able to analyze the customer segment size to understand, what is the level of competition that this particular finance company has? This helps you understand how well in advance you have to apply; more competition also includes more restricted rules for approval of loan so as to scrutinize the applications at the very first step of processing. You can enjoy finance support from several companies with the duly filled in certificate with proofs attached.