The Six Rules of Business Borrowing Fort Morgan CO

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.

Mr. David Robert Cichon (RFC®), CEP, CSA
(720) 482-1917
7700 E Arapahoe Rd Ste 110
Centennial, CO
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Evergreen & Company
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Years of Experience: 37
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IARFC, FPA
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Invoice, Estate Planning, Business Planning, Portfolio Management, 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, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Pl

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Mr. Jeffery J. OConnell (RFC®), LUTCF
(970) 534-3053
6801 W 20th St, Ste 212
Greeley, CO
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Capital Financial Strategies Group
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Education: B.S. Degree Univ. of Nebr.LUTCFSeries 7,66,26,24,63
Years of Experience: 32
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IARFC, NAIFA, GAMA
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Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Asset Protection, BuySell, Compensation Plans

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Crystal Campbell
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Denver, CO
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CPCC, PE, BS Chemical Engineering
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ACC

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(970) 581-2872
Loveland, CO
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(303) 552-4807
Boulder, CO
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Mr. Bert Hermelink (RFC®), CHFC, CLU, CSA
(303) 696-6700
23493 E. Phillips Place
Aurora, CO
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Strategic Advantage Financial
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Education: BA, Valparaiso UniversityCLU, ChFC, The American College
Years of Experience: 40
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IARFC, SCSA
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Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Precious Metals, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

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(720) 209-6870
Larkspur, CO
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$75/Hr

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Dale E. Payne (RFC®), CHFC, CLU
(719) 633-0747
619 North Nevada Avenue
Colorado Springs, CO
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Payne Financial Advisors, Inc.
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Years of Experience: 26
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IARFC
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Invoice, Estate Planning, Business Planning, Portfolio Management, Retirement Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Mortgage Loans, Collectable Coins , Precious Metals, CD Banking, 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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Brenda Cody
(720) 213-8743
Arvada, CO
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$$50 - $75/Hr
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Certified Job Loss Recovery and ReCareer Coach,

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Alan Sher
(303) 264-7630
Boulder, CO
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Performance, Executive, Business
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$200/Hr
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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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