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The Six Rules of Business Borrowing Ephrata 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.

Ronald C. Allison (RFC®), CHFC, CSA
(717) 393-3876
930 Red Rose Court, Suite 209
Lancaster, PA
Company
Century Tax & Wealth Mgmt., LLC
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Education: BS AccountingMS Taxation
Years of Experience: 29
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Business Coach, Education Plan, Asset Protection, BuySell, Compensation Plans

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Mr. George P. Brown (RFC®), CHFC, CLU
(215) 822-6601
190 Bethlehem Pike, Suite One
Colmar, PA
Company
Summit Trust Company
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Education: BSME - USMMABusiness - Hofstra Univ.
Years of Experience: 54
Membership
IARFC, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Seminars Work, Mutual Funds, Precious Metals, Annuities, Life Insurance, Business Coach, Charitable Planning, Charitable Foundations, Asset Protection, BuySell

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Brian Jones
(215) 764-5304
Philadelphia, PA
Coaching Types
Business, Leadership, Life

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Mary Lee Gannon
(412) 874-3918
Pittsburgh, PA
Coaching Types
Executive, Business, Career
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Female
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Grad. of Duquesne Univ. Professinoal Coaching Prog

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Eric M. Weinberg (RFC®), CEP, LUTCF
(570) 499-1913
32 Scranton Office Park
Scranton, PA
Company
Prudential
Qualifications
Education: B.A. Broadcast Journalism
Years of Experience: 8
Membership
IARFC, NAIFA, NICEP
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Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CommOptions, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection,

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Suzanne Ferguson
(412) 727-7299
Pittsburgh, PA
Coaching Types
Leadership, Life, Business
Rates
$150/Hr
Gender
Female
Certifications
Certified Empowerment Coach, Certified Trainer

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Duane A. Daniels (RFC®), CSA
(724) 433-3646
25 Country Farm Lane
Harrison City, PA
Qualifications
Education: BA, MPH
Years of Experience: 21
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Family Offices, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

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Corinne Valentine
(267) 918-8658
Abington, PA
Coaching Types
Life, Business
Rates
$50/Hr
Gender
Female
Certifications
Certified by CTA in August 2011

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Mr. J Drew Shumski (RFC®), LUTCF
(215) 822-1818
595 Bethlehem Pike Suite 202
Montgomeryville, PA
Company
Wealth Planners Group
Qualifications
Education: BS, LUTCF
Years of Experience: 18
Membership
IARFC, MDRT, NAIFA, GAMA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
David G. OBlock (RFC®), CFP
(724) 325-2070
3875 Franklintowne Court
Murrysville, PA
Company
The Equity Advisor Group, Inc.
Qualifications
Education: BS, CFP
Years of Experience: 25
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Retirement Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Medical Insurance, Charitable Planning, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, 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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