John Heiser's Success in Improving Credit Rating - Interview Example

Paper Type:  Essay
Pages:  3
Wordcount:  589 Words
Date:  2023-03-25


The third respondent I interviewed was called John Heiser. He is a co-owner of the o2ideas enterprise located in Alabama. The company started seven years ago and now runs at over $ 900,000 per year. I managed to interview John Heiser through the email.

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1. What strategies did you use to achieve your credit rating to improve your access to traditional funding sources and lower your cost of capital?

Thanks for the interview, sir. The credit rating, of course, is key to the success of my business as I can now access up to $10, 000. However, I have struggled to reach this rating. Of course, paying the loans early enough and updating the lenders regularly has played a critical role in this. But I ensure I borrow only what I can repay. I only borrow loans to fund profitable projects. Therefore I do a lot of accessibility to ensure the loans I borrow only go to urgent and profit-making deals. This way, I can repay them before the period expires and earn high ratings.

2. What amount of funds did you need for start-up costs to sustain your business for the first year?

I was so set for the first year of my business. I had secured $60000, which sustained me comfortably for the first year of my business. I did not want and to struggle for loans and support from anybody. But after that, the company expanded, which called for financial requirements, forcing me to go for loans from microfinance institutions.

3. How, if at all, has your management experience and education helped you in developing strategies to access funding for your business?

I can use my long experience in management to understand the cost of loans and repayment terms. I have also read and updated myself widely on any type of credit available for small and medium businesses within the US. Therefore, both education and experience play a key role in ensuring my company does not run out of operating capital.

4. What, if any, tactics did you use in any area of your business that helped you in securing funding from investors or traditional lenders?

I'm usually updated with information concerning loan products from various lending institutions. I typically read widely. I also utilize my loans well by ensuring I venture only in profitable projects. Too, I often gauge the trust of my client to ensure they usually pay on time to enable me to settle the loans. I also pressurize my credits so that they can pay me within a reasonable time so that I do not run out of funds.

5. What type of financial or accounting software have you found useful in running your business more efficiently?

I am used to excel software in my business. I have been using Excel to calculate and prepare payrolls and invoices since the company started. I am very familiar with the software, making it friendly to me. The software is efficient as I can analyses the performance trend, calculations, and any other type of financial data comfortably.

6. What information can you share that was not already covered about ways to improve your access to capital to improve your competitive positioning and profitability?

Improving the business is easy as long as you remain committed to the objective of the organizations. Also, it is advisable to create trust between the business and the financiers by ensuring the correct information is to provide and timely payment of loans. Also, keeping collaterals, legal, and financial information up to date is essential for the success of any business.

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John Heiser's Success in Improving Credit Rating - Interview Example. (2023, Mar 25). Retrieved from

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