The Six Rules of Business Borrowing Lindenhurst NY

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. John E. Hernandez (RFC®), CSA
(516) 248-7066
248 N Maple St
Massapequa, NY
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Doral Asset Managers Inc.
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Years of Experience: 46
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IARFC, SCSA
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Invoice, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement 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, Business Coach, Charitable Planning, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

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Mr. Richard P. Marotto (RFC®), RFP
(516) 413-6132
38 Downhill Lane
Wantagh, NY
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Richard Austin Companies, Inc.
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Education: B.S. Accounting
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IARFC, FPA, AICPA
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Invoice, Business Planning, personal Coach, Tax Planning, Tax Returns, Family Offices, Business Coach

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Ofra Kaplan
(516) 822-3252
Plainview, NY
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Life, Business, Retirement
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$50/Hr
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CPC, Certified proffetional coach by ICA

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Mr. Mark E. Stratton (RFC®)
(516) 938-2400
998 Old Country Rd Ste 4
Plainview, NY
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Compass Financial Group
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Education: University of Massachusetts, Amherst
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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, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Asset Protection, BuySell

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Katherine D. Agrillo (RFC®), CFP, CHFC, CLU
(516) 542-0261
1858 Hempstead Turnpike
East Meadow, NY
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Agrillo Financial Group
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Years of Experience: 28
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IARFC, FPA
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Invoice, Estate Planning, Business Planning, Portfolio Management, Pension 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, Asset Protection, Compensation Plans

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Mr. Michael J. Goldsmith (RFC®), LUTCF
(516) 541-0111
549 Broadway Street Suite 201
Massapequa, NY
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Investax, Inc.
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Education: BS Finance
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IARFC
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Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Asset Protection, Compensation Plans

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Mr. Nick O. Caporaso (RFC®)
(516) 682-3414
1000 Woodbury Rd Ste 400
Woodbury, NY
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Mass Mutual Financial Group
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Education: St. John's University 1998-2002. Bachelors of Science in Finance and InvestmentsThe American College- LUTCF "Life Underwriters Training Fellowship."The College For Financial Planning- AWMA "Accredited Wealth Management Advisor.
Years of Experience: 8
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IARFC, MDRT, FPA, NAIFA
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Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

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Mr. Eric W. Szczurowski (RFC®), CFP
631 770 0335 x34
445 Broadhollow Rd Ste 120
Melville, NY
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Ameriprise Financial
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IARFC
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Mr. John J. Hopkins (RFC®)
(631) 870-0322
445 Broad Hollow Road
Melville, NY
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JJH Financial Services
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Education: Virginia Military Institute, BS. Adelphi University, MS.Certificate in Financial Planning
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IARFC, FPA
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Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Business Coach, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

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Mr. Jesse B. Mackey (RFC®), MBA
(516) 677-5034
80 Crossways Park West
Woodbury, NY
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Park Avenue Securities, LLC
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Education: MBA from Thunderbird School of Global ManagementBA in Economics from Colgate University
Years of Experience: 7
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IARFC
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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, CommOptions, 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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The Six Rules of Business Borrowing

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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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