Business Funding Express: Some Answers

Laura asks…

A business cheque has been paid into my barclays bank account?

When it shows as uncleared funds can i then go into my branch and pay to have it expressed so i can draw monies ?

admin answers:

It would probably cost you less to go into your bank and arrange a temporary overdraft, then you could withdraw monies on that. This cheque will show as uncleared funds until the cheque clears, within 5 business days or so. Since you asked this question 3 days ago, you only have about 2 more days to wait.

Mary asks…

IRA Network – Investors Resource Alliance – business plan service + investors?

I have an online business and am currently seeking seed or equity funding through angel investors or other venture capitalists. I am NOT interested in an SBA or other business loan, nor “building business credit” services – I don’t need or want business debt.

I submitted an executive summary of my business plan to an investment group called Investors Resource Alliance or “IRA Network” and received a fairly positive response. Out of a dozen submissions to companies which match entrepreneurs to investors and many direct submissions to venture capital firms, this was the first to express real interest.

Before I can be submitted to their network of some 5,000 investors, they want to rewrite my executive summary, as well as my business plan. The service they’re offering costs $3,500 (some of which can be deferred) and includes the business plan, PowerPoint presentation, project due diligence, marketing research, one-page overview, etc – basically every document I would need to be submitted to investors and make effective presentations. Their sample business plans look very professional, are 30+ pages in length and include all necessary sections. The IRA Network has been operating for 15+ years and claims to have secured funding for hundreds of companies each year. I looked them up with the Better Business Bureau, and while they have some complaints, they have an A+ rating after resolving or attempting to resolve the complaints to the satisfaction of the BBB. They are a BBB accredited business.

My question – is $3,500 a reasonable up-front cost for this business plan and investor submission service? IRA Network would also take a 5% cut out of the capital I may get as a result of their direct efforts as well. That’s their real motivation – to take 5% of the $500,000 in funding I am seeking, which I am OK with.

I could potentially get my company in front of 5,000 investors, and my business plan, executive summary, etc. definitely need to be rewritten by a professional. Are there other services that write professional business plans and submit them to investors for less?

FYI – my company has already been founded, the website launched and tested, and I’ve attended counseling and several classes with SCORE. So, I’m not completely green about running a company and attracting investors, although this is my first business.

Any help or comments are welcome.

Please don’t post SPAM from your business lending company!

admin answers:

You don’t need anyone to do a business plan for you or do these services for you.

Here’s a free tool that will walk you through the entire process and get you ready for funding.


It’s a cheap yearly membership but you get a free trial to see if it works. It’s amazing but very complicated, almost too complicated. But with the detail of your post most likely you can handle it.

Sandy asks…

help business questions for anyone who knows it?

1.) In a personal inventory, most people have no need to write down the names of supervisors they had or the duties they performed. They can be confident they will always remember those details.


2.)The Common Application provides supplemental forms for applicants involved in athletics and the arts.


3.)Select the best answer to the following question.
Which type of business communication can be distributed by paper, sent by email, or posted on a bulletin board at work?

formal letter
follow-up letter

4.)You are responding to an ad for a lifeguard at Ourtown Pool. The topic, task and audience for your letter are

The topic is how much you need a job; task is a descriptive letter; and audience is your friend who is already a lifeguard at the pool.
The topic is the job opening at Ourtown Pool; task is an informative memo; and audience is your friend who is already a lifeguard.
The topic is the job opening at Ourtown Pool; task is an informative and persuasive cover letter; audience is pool manager.
The topic is the job opening at Ourtown Pool; task is a descriptive flyer with your picture; audience is pool manager.

5.)The most persuasive cover letters for résumés are many pages long and retell the applicant’s complete work history and education.


6.)The Academic Word List (AWL) contains the words most frequently used in academic prose.


7.)Business memos should be brief, businesslike, and easy to read.


8.)The word Re: in the heading of a memorandum is sometimes used to _____.

encourage people to respond
identify who should receive the memo
introduce the subject of the memo
indicate a response date

9.)All email that is written and stored on company computers is the property of the company, not the individual employee.


10.) Imagine that you have just written a weekly status report summarizing the telemarketing calls you have made during the week. Each week, you have been more successful at your job. So, you want to show an upward trend of the number of calls that actually earned a positive customer response. The best graphic representation to use in your report to reveal this trend is a bar chart.


11.)The writer of a persuasive fund raising letter should always take the trouble to express ideas carefully and cogently.


12.)Notices publicizing specific events are clearest when they contain only graphics, without text.


13.)Select the statement that best answers the following question.
Why is it helpful to include charts and graphs in your written business communication?

It distracts the reader from the content of your report.
It makes the words you have written easier to understand.
It provides an image of your data that is quick to read.
It adds color to your report.

14.)In a weekly status report, it is important to list the names of the other contributors on the project mainly so that they can share the blame if something goes wrong.


15.) Select the best answer that completes the following sentence.
Junior Achievement, now called JA Worldwide, most likely provides success stories of teen entrepreneurs on their website because _____.

they want to inspire and motivate like-minded teens
they want to warn teens of the dangers of starting a business
they want to provide a formal business education to teens
they need more teens to start their own businesses so their organization can grow

16.)Complete the following sentence with the best word.
Business professionals used to go to luncheon meetings to _____ with other professionals; now, they go online.


18.) Complete the following sentence with the best word.
By studying the detailed graphic representation of data, the sales team determined an important market _____ that could help predict next year’s sales.


admin answers:

Here’s a few:

1) false – most people don’t remember those dates and details that well without a written record

3) memo

5) false – cover letters should be only one page

7) true

8) introduce the subject of the memo

11) true

13) It makes the words you have written easier to understand

14) false – successful companies are not especially concerned with placing blame anyways. That is an extremely ineffective managerial technique to place blame.

16) network

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