The Power of Linkedin – It Helps You Get Finance

We often talk about Linkedin when we present on obtaining finance for your business, what surprises us is that it is often something that surprises people.

So take note and start improving your profile.

What Does Linkedin Mean To A Lender?

Let us start by looking at what a lender will consider when appraising an application for finance. A business will have a need, some justification of affordability etc, so the basics are present.

But, be aware of what is in the public domain, and be aware that it is easy to compare what you say against what exists, so make sure the two add up.

Example

You provide your lender with all the standard documents and are waiting for an answer. Your lender will look at industry comparisons, past experience of dealings with you, affordability etc. They will also look at your company’s website, and look you up on Linkedin.

If your Linkedin profile is dated, not current, there is little decent information and no real effort has gone in, then ask what it says about you? If your profile is out of date, what else in your business is out of date? Do you care about your public face? What does it say about your awareness of your company publicly?

Easy to what difference it makes, but in reality if there is a borderline decision to be made then a good, well worded, up to date Linkedin profile may be enough to tip the balance, especially if your company has a profile which carries articles, testimonies etc.

What To Do

All we are saying is that every senior person in a business should have a current and updated profile. Be sure that a profile will exist, Linkedin generates them automatically, so either use it or delete it, don’t leave it incomplete.

Lenders are like recruiters, they will look for verification of what you say, so give it to them.

Guidance

If you want us to read through your profile before you raise finance, apply for a business loan, or speak to your lender, then just ask and we will oblige.

If you want to ask anything about this article then please get in touch here, call us on 01293 541333 or add your comments to the article.

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