Let’s be honest. Trying to source affordable business loans on your own is a big hassle and risky in today’s crazy lending environment. Lender’s loan approval criteria is hard to understand. The industry is littered with sales reps whose primary objective is not to do what is best for you and your business but to earn a big, fat commission. These truths makes it very hard to trust lenders and the organizations they represent.
Since you are not a professional money raiser, more often than not the precious time and money you invest in “loan hunting” rarely produces optimal results and more importantly it takes you away from your most important activity…. managing your business.
If you are serious about saving time, money, energy and acquiring the “right loan” for your business you need a different approach… a strategic one!
Eugene E. Valdez, a senior commercial banker for over 30 years, AKA The Loan Doctor, has a proven 3 step process that will quickly get your business the “right loan” at the “right interest rate” allowing you to use that money to accomplish your most important business goals.
8-10 page written business plans that outline information about the business owner, the business, the new loan request, the loan benefits and financial projections demonstrating loan repayment ability.
Direct placement of loans uniquely identified in the loan acquisition strategic plan. The potential lenders could include but not be limited to, conventional bank lenders, SBA lenders, asset based lenders, factors, equipment lenders, commercial real estate lenders, micro lenders and import/export lenders.
Once a month face to face client meetings usually 90 minutes in length. These “financial checkups” are used to ensure that business owners are in compliance with all of the financial ratios, covenants and financial reporting required by their commercial lender. Borrowers who are non-compliant run the risk of their lender cancelling or “calling in” their loans.
A comprehensive review of the terms and conditions of an existing lending relationship and written recommendations on how to improve.