Mr. Halasnik spoke extensively about how commercial and local banks make decisions about approving businesses and nonprofits for a bank line of credit and the obstacles that are often in the way to an organization being approved.
If you have a good lead generation process, one that brings in prospects to become clients economically, that it will allow your business to become less reliant on your people, your current sales people will be more successful, you will not have to pay your sales people as much as other companies and more importantly, YOU will control your success.
There are many things you need to succeed in business, such as a solid business plan, talented people to help you, and a working capital loan. Without these factors, you may be making things harder than they need to be. They say you should take risks as if you will never fail and work as […]
In Hamlet, Shakespeare wrote, “Neither a borrower or a lender be.” This can be doubly distressing for small business owners who have to lend money to their own business. The very nature of small business makes it necessary to take out working capital loans from time to time. Unfortunately, the nature of banks is to […]
In order for your business to succeed, all your systems, people and resources must be operating as one. You may believe you need an operating capital business loan to pull it all together, but this is not always true. To build and grow your company, it’s important that you are making the best decisions and […]
Sometimes business is like riding a bicycle. You must keep moving and pedaling in order to keep your balance and not fall. There will be many certainties and doubts in your working capital cycle but you have to continue moving forward. This often takes a line of credit (LOC). Every business has ups and downs […]
In business, everything makes a difference. Hiring decisions, selected locations and your choice of fast funding options may one day make or break your business. Do your homework to make the right choices, such as learning the difference between a working capital loan and a term loan. Making the wrong choice could affect your future. […]
Operating working capital is loosely defined as having enough cash on hand to run your business (i.e. Payroll, bills, rent, equipment, etc.) and if your company often comes up short on working capital, then your first thought shouldn’t always be about get a bank loan, a line of credit, a Factor or an alternative financing […]
Small businesses looking for a fast working capital loan often need the funds to make payroll or to pay an unexpected expense. Certainly a bank is one of the cheapest places to get capital for your business however often the turnaround time makes it almost impossible if you need the money fast. Banks Care About Your […]
A BUSINESS LINE OF CREDIT IS CHEAPER, HARDER TO GET AND TAKES TIME A business line of credit from a bank will almost always be the cheapest solution for a company for a working capital loan. But a business line of credit is really hard to get. Banks are going to want to see a […]