The Six Rules of Business Borrowing Bloomsburg PA

Rules” to business borrowing! An interesting concept. True — the “rules” presented below may be considered as act-on “options”. But the consequences of not being aware of these options, achieving a successful business loan program, can be costly to your business, your fortune and your peace of mind.

Thomas W. Young (RFC®), CHFC, CLU, CSA
(724) 728-6820
1413 Third St
Beaver, PA
Company
1st Consultants, Inc.
Qualifications
Education: Beaver County Community College
Years of Experience: 35
Membership
IARFC, MDRT, SFSP, NAIFA
Services
Invoice, Estate Planning, Business Planning, Pension Planning, personal Coach, Retirement Planning, Medicaid Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Medical Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection

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Marla Mosser
(610) 807-9035
Lehigh Valley, PA
Coaching Types
Leadership, Executive, Business
Gender
Female
Certifications
MBTI, MRG Leadership 360, Prosci Change Management

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Mr. Charles J. Pinchotti (RFC®), CFP, CHFC, LUTCF
(724) 728-9666
2020 Beaver Ave., Suite 106
Monaca, PA
Company
Pinchotti Insurance & Financial Services
Qualifications
Education: BACHELOR OF SCIENCE; CERTIFIED FINANCIAL PLANNER;CHARTERED FINANCIAL CONSULTANT
Years of Experience: 33
Membership
IARFC, FPA
Services
Invoice, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Education Plan, Healthcare Accounts, Asset Protection, BuySell, LiabCover, Compensation Plans

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Gretchen Pritts
(814) 280-5128
State College, PA
Coaching Types
Life, Executive, Business
Rates
$100/Hr
Gender
Female
Certifications
CC, BSW

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Ken Abrams
(610) 240-4857
Wayne, PA
Coaching Types
Business, Executive, Life
Rates
$100/Hr
Gender
Male
Certifications
Board Certified Coach, CCMC, PMC, BA, CLU, ChFC
Membership Organizations
MCC

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Mr. Steven R. Sanson (RFC®), MSFS
(215) 256-7845
425 Main St
Harleysville, PA
Company
Financial Voyages LLC
Qualifications
Education: Master of Science in Financial ServicesB.B.A.- Economics
Years of Experience: 13
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Seminars Work, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Asset Protection, BuySell, LiabCover, Compensation Plans

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Brian K. Lureen (RFC®), CHFC, CLU
(610) 889-2066
5 Great Valley Pkwy Ste 334
Malvern, PA
Company
Heritage Advisory Services, Inc.
Qualifications
Education: BS
Years of Experience: 21
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, BuySell, Compensation Plans

Data Provided by:
Penny Zenker
(484) 362-7228
Devon, PA
Coaching Types
Executive, Business, Life
Gender
Female
Certifications
CPC, NLP Master Practitioner
Membership Organizations
ACC

Data Provided by:
Sarah Shore
(215) 236-5353
Wayne, PA
Coaching Types
Life, Relationship, Business
Rates
$125/Hr

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Michael L. Schwartz (RFC®), CSA
(215) 886-2122
115 Old York Rd.
Jenkintown, PA
Company
Schwartz Financial Services
Qualifications
Years of Experience: 30
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Auto Home Insurance, Education Plan, BuySell, LiabCover, Compensation Plans

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The Six Rules of Business Borrowing

Provided By: 

Business Borrowers Should Consider BOTH Traditional and Alternative Lenders
By Kenneth P. Easton, Jr.

“Rules” to business borrowing! An interesting concept. True — the “rules” presented below may be considered as act-on “options”. But the consequences of not being aware of these options, achieving a successful business loan program, can be costly to your business, your fortune and your peace of mind.

“Rules” are actions businesses should adopt ensuring they obtain the best arrangements with their current lender; in good times or in worst case scenarios. These rules also apply to a new or replacement lender (whether the move is voluntary or forced by circumstances).
Observation: There is a great diversity of lenders out there — which one (or two) will be best for you? Only a few can address your specific needs or situation. However, your search process may well determine not only the success and costs of your quest, but the duration —from 30 days to possibly a year or more. No one needs that kind of a hold up.


Know Your Money Sources

The “Traditional Lenders” are commercial banks and thrift institutions (savings banks) that continue to be the most utilized sources. Many stop there simply hopeful for the best deal — unaware of the many, and probably more appropriate, alternatives. Frequently, physical convenience dictates choice — not relevant in this “connected” age. You want the best deal, not the shortest walk. These “mainstream” or “prime” lenders offer: standard loan products; rather inflexible loan structures; unattractive pricing options; and “boilerplate” loan covenants. Neither too receptive nor creative. There are, of course, unique exceptions; especially within “community banks”. Tough credit situations or specialized loan needs are best left to alternative lenders.

“Alternative Lenders” offer wide spectrums of business loans; meeting unique needs and quick turnaround requirements. Many larger credit unions offer business loans. Business membership (a requirement) usually happens at the loan closing. As with most alternative lenders, they are staffed with seasoned business lenders from banks and other alternative lenders. Most offer quick turnaround, access to decision makers with many dedicated to assisting the more difficult credit requirements. Other “Alternatives” include independent and specialized finance companies, divisions or captives of industrial or insurance companies, or even subsidiaries of some banks. Do not forget state and municipal loan programs.
Alternative loan sources may offer a variety of specialization, to include traditional loan programs:
• receivable and inventory financing
• equipment loans and leasing programs
• seasonal inventory loan advances
• purchase order financing (including government contracts)
• invoice financing (factoring)
• letters of credit
• loans to hospitality / health care businesses
• real estate / investment property mortgages
• mezzanine (quasi-c...

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