Recessions are stressful and challenging for any business owner. Whether it’s your first recession or your second, third, or so on, it’s hard to know how to prepare for the worst and whether the plans you’ve made will help or hurt. Every business owner deserves to have a company with a strong financial future. In…
Growth always requires cash. Whether a business is expanding into new markets, growing their current offerings, or being bought out by current employees or a strategic buyer, funds are always required. Sometimes a company may have the cash on hand to cover these plans and goals, but more often, financing is needed. But approaching a…
Recently, we talked about obtaining a line of credit as “sleep insurance” when growing your business and how to make sure you’re bankable and bank-ready when requesting a loan. Some people are risk takers and don’t mind going into debt. Some are totally debt averse and don’t borrow at all. But how much debt is…
People do business with people they know and trust. But here’s an interesting fact: 8 out of 10 business owners that I talk to have a bank, but not a banker. So, if they don’t know or trust their banker, how do they borrow money? More often than not, they’re starting from scratch, trying to…
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