Are You Under-Banked?
Banking | Financing | Uncategorized

Are You Under-Banked?

Are you under-banked? If so, you’re not alone. A recent article I read indicated that among CFO’s, being under-banked has landed on the growing list of challenges most CFO’s face. Here’s why:  A recent report stated that the financial landscape for small to medium sized businesses (SMB’s) has changed significantly.  Credit markets have become increasingly biased toward bigger…

2 Questions You Need to Answer Before You Talk to a Bank
Banking | Financing | Uncategorized

2 Questions You Need to Answer Before You Talk to a Bank

Every business owner wants abundant cash flow in their business. It’s emotional and practical. Cash is like oxygen. Your business can’t function without it.  When cash is in short supply, owners become lightheaded, then despondent, then desperate. Cash represents success and lack of it, failure. It’s not a question of “if” cash is in short supply,…

How to Talk to Your Banker
Banking | Financing

How to Talk to Your Banker

You may have discovered that bankers unintentionally speak a language that business owners have a hard time understanding. I call it BankSpeak. Bankers use terms like liquidity, leverage, profitability, working capital, cash flow, EBITDA and sometimes don’t explain the context or the calculations behind these terms and how they might impact your business positively or…

2 Questions to Ask Yourself Before You Talk to a Bank
Banking | Financial Management

2 Questions to Ask Yourself Before You Talk to a Bank

Trying to get a line of credit? Frustrated with the bank process? You’re not alone. Navigating the banking landscape can be a very time consuming process.   There are two questions you need to answer before you start: Are you bank ready? Are you bankable? What is bank ready? Bank ready is nothing more than being…

The Business Owner’s Cheat Sheet – Starting and Selling a Business with an SBA Loan
Financing

The Business Owner’s Cheat Sheet – Starting and Selling a Business with an SBA Loan

Generally, starting a business with an SBA loan is incredibly hard due to no historical track record of cash flow and ability to service the debt. Banks are looking for at least three years in business before extending credit. However, it’s possible if you find a bank that is willing to do startups. Many banks…

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