Duration: 1h40m | Video: .MP4 1280x720, 30 fps(r) | Audio: AAC, 44100 Hz, 2ch | Size: 652 MB
Genre: eLearning | Language: English
Be more prepared and confident to apply for the loan you need at the lowest rate you can get
What you'll learn:
How to get the lowest rates you can
How leverage (i.e. borrowing) magnifies your returns - and risk
When a loan is right for your business
The right types of loans for your business
Explanation of common business lending words
Documents you'll sign and what to pay attention to
Requirements:
None
Description:
Business loans are a vital source of funding for small businesses. The process can seem complicated and difficult. Let me give you the basics to be more prepared and confident to get the loans you need.
Some of the major topics include:
Determine whether loan funding is right for you with easy ratio analysis and cash flow projections to help
How leverage (the use of borrowed funds) magnifies returns but increases risk. Many business owners chase profits and end up bankrupting their companies. I'll show you how to avoid this.
Where to get business loans. There are many options you may not know about. I give an overview of the Small Business Administration (SBA) loan programs.
Key loan components like how interest is calculated, types of fees, and the multiple terms that can be structured into a loan.
How to prepare for the application process.
Ways to reduce the interest rate on your loan. I'll give an overview of the application process and the documents lenders frequently request.
How lenders decide whether to approve a loan. Knowing this increases your chances of being approved.
Key documents that are signed at loan closing are described, and the importance of each. I'll point out important clauses to pay attention to in these documents.
You also get access to worksheets, templates, and guides to improve your chances of getting the right loan at the right price. You get the following:
7 Ways to Get the Best Loan Pricing You Can. This has tips on how to lower your interest rate.
Key Metrics Worksheet: Enter five numbers in a worksheet to calculate a couple of key metrics that estimate if you'll have enough cash over the next year.
Cash Trends Worksheet: Identify trends in your cash flows and how loans can help smooth out your cash flows.
Lending Term Glossary: Translate "banker-speak" into words normal people use.
Checklist of Documents to Prepare: What to have ready for a faster loan application process.
I've seen the good, the bad, and the ugly of business lending. Let me show you the good and how to avoid the bad and ugly. I have served as the Chief Financial Officer (CFO), Director of Operations, and Senior Vice President of Finance at lending institutions over the past 20 years. I've been on loan approval committees, approved pricing on large loans, and had a collections department report to me. This course is filled with tips learned over those years.
Who this course is for:Small business owners
Entrepreneurs
Accountants
Business managers
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