Before you start searching for a job in finance, you need to possess the right kind of skill set to take you a long way. These are the skills that most employers expect in any candidate showing up in an interview for a finance job. So, better prepare yourself in advance and ensure to have all of these to nail it in your first job interview itself. It wouldn’t be difficult at all if you hail from a finance background. You just need to know the employers’ expectations so as to live up to each one of them. So, here is a list of such skills that would surely add-on to your abilities before you show up for the interview.

Key Skills for a Finance Professionals:

A finance professional has to be good with numbers. Accounting, taxation, auditing, preparing financial statements are the primitive things that you are expected to do, while you take on a job in finance. Besides, some other skills required to qualify for such a profile includes Tally, analysis of investment banking, mergers & acquisition, Equity & Debt Research, deal structuring, SAP, MIS, and Budgets.

Besides, a person in finance is expected to be efficient with other things like fund planning, internal audit, statutory audit, costing, financial modelling, and project evaluation as well.

Non-financial Skills:

On your way ahead in the finance sector, the above detailed skills will surely help you, but some other non-financial skills too need to be considered. While you are serving as a finance professional in a company, you will have to work in coordination with the people in other departments and clients. In such a situation, you need to confident enough to make the other person understand your point of view. For this, you need good communication skills so as to be clear to the people you deal with.

Management Skills

Management is one of the responsibilities that comes to every professional after a relevant experience and this implies in finance sector too. After a certain point of time, management becomes a part of your job, and especially in this profile, a person has to deal with different departments and clients. Thus, management skills have to be on your check list while you evaluate yourself to be eligible for an opportunity.

Problem Solving

Problems will be there on your path every now and then, irrespective of the nature of work. So, you should always be able to handle those obstacles falling on your path.

Tech Savvy

Technology is now a skill that every professional should be accustomed to. In finance industry too, you are expected to be familiar with the most commonly used software and applications. So, you better be ready for it before you aim to get into the industry.

There are times that businesses face difficulties with their finances resulting in bad credit. A bad credit history restricts your chances of approval for equipment finance regardless if the equipment will help improve business profits.

Traditional lending institutions like banks may deny you the loan you need. But there are specialized loan companies who can look beyond your bad credit. These lending institutions can give you a second chance at availing the equipment you need to grow your business by offering poor credit equipment finance.

Bad Credit Equipment Finance for Growing Businesses

Equipment Financing is short-term loans (about 3-5 years) extended to businesses specifically to purchase the equipment needed for its operations. Equipment financing is a collateral loan which means that the equipment you purchased could be repossessed in case payments go into default. Since the loan is released with a collateral, lending companies view it as low risk and may offer a lower rate of interest compared to a standard loan.

To qualify for an equipment loan, one must have a credit score of at least 600, been in business for at least 11 months, and generate around $100,000 in revenue. If you have a bad credit but meet the other two requirements, there is still a chance for you to avail of a finance. It really depends on the lender’s assessment of your financial situation.

Equipment financing is an alternative for start-up and small businesses for growth and development especially for those who don’t have enough capital to fund their purchase. And if you have a poor to bad credit score, being granted an equipment financing gives you the chance to improve your credit score.

How to improve your chances of approval for equipment financing despite bad credit

You can increase your chances of an approval for equipment finance. By making ways to improve your credit standing and strengthen your application to lenders, there is a fair chance that loan companies will consider your loan application. Below are ways to strengthen your application.

1. Apply with a cosigner with good credit standing. Lenders can consider your application if you are applying with someone who has a better credit standing. The cosigner can provide security for the loan considering that the consignor has equal obligations as the borrower.

2. Present other assets for collateral. If you have other assets such as other types of equipment or even real estate property, you can offer it as a collateral. It strengthens your application to secure the loan.

3. Bigger down payments. Do you have enough cash to put as down payment to significantly lower your total loan amount? If you are able to present bigger down payments, lenders may consider you a candidate for poor credit equipment finance.

4. Proof to show business is growing strong. Provide documents like bank statements showing a good revenue for the past months. Lenders like to see a growing steady business, therefore, it is essential to provide income statements and other documents to support your claim.

5. Seek professional help. With bad credit, lenders will give you a hard time acquiring a loan. They may even deny the loan immediately after checking your credit score. But with proper assistance from loan experts, you can increase your chance of getting the right lender who can look beyond your bad credit.

Many startup companies believe that they do not need a lawyer to help them with their business dealings. In the early stages, this may be true. However, as time goes on and your company grows, you will find yourself in situations where it is necessary to hire a business lawyer and begin to understand all the many benefits that come with hiring a lawyer for your legal needs.

The most straightforward approach to avoid any future legal issues is to employ a startup lawyer who is well-versed in your state’s company regulations and best practices. In addition, working with an attorney can help you better understand small company law. So, how can a startup lawyer help you in ensuring that your company’s launch runs smoothly?

They Know What’s Best for You

Lawyers that have experience with startups usually have worked in prestigious law firms, and as general counsel for significant corporations.

Their strategy creates more efficient, responsive, and, ultimately, more successful solutions – relies heavily on this high degree of broad legal and commercial knowledge.

They prioritize learning about a clients’ businesses and interests and obtaining the necessary outcomes as quickly as feasible.

Also, they provide an insider’s viewpoint and an intelligent methodology to produce agile, creative solutions for their clients, based on their many years of expertise as attorneys and experience dealing with corporations.

They Contribute to the Increase in the Value of Your Business

Startup attorneys help represent a wide range of entrepreneurs, operating companies, venture capital firms, and financiers in the education, fashion, finance, health care, internet, social media, technology, real estate, and television sectors.

They specialize in mergers and acquisitions as well as working with companies that have newly entered a market. They also can manage real estate, securities offerings, and SEC compliance, technology transactions, financing, employment, entertainment and media, and commercial contracts, among other things.

Focusing on success must include delivering the highest levels of representation in resolving the legal and business difficulties confronting clients now, tomorrow, and in the future, based on an unwavering dedication to the firm’s fundamental principles of quality, responsiveness, and business-centric service.

Wrapping Up

All in all, introducing a startup business can be overwhelming. You’re already charged with a host of responsibilities in which you’re untrained as a business owner. Legal problems are notoriously difficult to solve, and interpreting “legalese” is sometimes required. Experienced business lawyers know these complexities and can help you navigate them to avoid stumbling blocks.

Although many company owners wait until the last minute to deal with legal issues, they would benefit or profit greatly from hiring an experienced startup lawyer even before they begin. Reputable startup lawyers can give essential legal guidance, assist entrepreneurs in avoiding legal hazards, and improve their prospects of becoming a successful company.