The Six Rules of Business Borrowing Chillicothe OH

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.

Rob VeVerka
(513) 772-5115
Cincinnati, OH
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Executive, Business, Entrepreneurship
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$475/Hr
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Mrs. Linda R. Horn (RFC®), CEP, CSA
(513) 367-1793
9676 Dry Fork Road
Harrison, OH
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Capital Concepts, Inc.
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Education: BA
Years of Experience: 25
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IARFC, NICEP
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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, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Business Coach, Asset Protection, BuySell, Compensation Plans

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Dennis Rockhold (RFC®), LUTCF
(419) 222-8018
2895 Harding Highway
Lima, OH
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Rockhold Financial Group
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Years of Experience: 10
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IARFC
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Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, BuySell, Compensation Plans

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Craig Kopp
(513) 652-6974
Cincinnati, OH
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30 year Broadcasting and Media Professional

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Mr. Kenneth V. Byers (RFC®), CHFC, CLU
(513) 561-0011
7710 Shawnee Run Rd
Cincinnati, OH
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Ken Byers & Associates
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Years of Experience: 37
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IARFC, MDRT, FPA, NAPFA, AALU
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Invoice, Estate Planning, Business Planning, Pension Planning, Retirement Planning, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, Charitable Foundations, Asset Protection

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Mr. James Kotagides (RFC®), MBA
(330) 491-2220
4700 Dressler Road N.W.
Canton, OH
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TTG Financial
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Years of Experience: 10
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IARFC
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Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CommOptions, Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Asset Protection, BuySell, Compensation Plans

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Edward R. Klesack (RFC®), CLU, LUTCF, MBA
(419) 368-3220
2025 St. Rt. 511
Perryville, OH
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E. R. Klesack & Associates
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Education: Masters in Business Adm.B.S. in Mgt. and Finance
Years of Experience: 29
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IARFC, NAIFA
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Invoice, Estate Planning, Business Planning, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, BuySell, Compensation Plans

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John T. Ross (RFC®), CFP, CSA
(419) 842-1505
7261 West Central Avenue
Toldeo, OH
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Integrated Financial Resources, Inc.
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Years of Experience: 32
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IARFC, AALU
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Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Business Coach, Charitable Planning, Education Plan, Healthcar

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Mr. Edwin P. Morrow (RFC®), CEP, CFP, CHFC, CLU
(513) 424-6395
Financial Planning Building
Middletown, OH
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IARFC
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Education: Centre College of Kentucky and University of Louisville School of Law, plus having served as instructor for many financial planning courses and Practitioner in Residence at Wright State University for three years.
Years of Experience: 46
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IARFC, MDRT, FPA, SFSP, NICEP
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Invoice, Estate Planning, Business Planning, Portfolio Management, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Mutual Funds, Mortgage Loans, Precious Metals, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Business Coach, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

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(419) 367-4507
Toledo, OH
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Business, Executive, Leadership
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$200/Hr
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USAF

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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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