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Finance specialists secure funding sources for clients, including grants and loans. They meet with clients to determine their needs and limitations, develop a list of financing options, and assist with the application process. Familiarity with the industry and industry connections can be important.
A finance specialist locates and secures funding sources for clients. This can include grants, loans and other forms of financial assistance for activities ranging from wetland restoration to college tuition. Some finance specialists work on a freelance basis, while others represent specific organizations or work for consulting firms that offer a range of services to their clients. A degree in finance or a related field may be required for some positions, along with experience in a specific industry.
Financing specialists begin by meeting with clients to determine the nature of their needs and any limitations. A company looking for funding to expand operations, for example, might talk about what it wants to do and how much money it will need. Timings can also be discussed, to provide insight into when funding needs to arrive to meet the client’s needs. This information helps the finance specialist determine which opportunities are most likely to be a good fit.
With this information, the financing specialist can develop a list of possible financing options and explore them for the client. At follow-up meetings, the specialist can provide information on the types of funding available and the access process. This may include completing applications, participating in interviews and generating documentation to support an application. Funding specialists can also discuss steps the client can take to increase eligibility, such as building an eco-facility to access funds set aside for sustainable ventures.
As the specialist and client identify the finance they wish to apply for, the next phase can begin. This involves filling out an application and providing supporting information to increase the likelihood of obtaining the funds. Competition for grants, in particular, can be very intense and a qualified funding specialist may be required for a successful application. Specialists keep their clients updated on application status and other details so they can make decisions on how to proceed.
Familiarity with the industry can be important, as the finance specialist needs to understand what the client is doing and what types of barriers may develop. People offering advice on funding for colleges and universities, for example, should be aware of the types of funds available, tuition costs, and limitations on how grant money can be spent. They provide clients with information to help them decide which funds to pursue and how to use them. It can also help to have industry connections, as this can help finance specialists identify opportunities that are not available to the general public.
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