The Six Rules of Business Borrowing Williamsburg VA

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.

Elaine Lockard
(757) 877-1440
Newport News, VA
Coaching Types
Business, Career, Spirituality
Gender
Female
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CTACC, CHP, CM

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Mr. Vijay K. Khetarpal (RFC®), CFP, CHFC, CLU
(703) 356-4888
8607 Westwood Center Dr #300
Vienna, VA
Company
Integrity Financial Group, LLC
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Education: B.A (Honors) Economics, St. Stephens College, DelhiAll India HS Humanities, Mayo College, Ajmer
Years of Experience: 27
Membership
IARFC, MDRT, FPA, SFSP, NAIFA
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Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

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Cameron Gott
(434) 296-9279
Charlottesville, VA
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Entrepreneurship, Business, ADD ADHD
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$150/Hr
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Male
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SCAC
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PCC

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Willliam F. Smith (RFC®), Jr, CHFC, CLU
(757) 875-2327
12715 McManus Blvd.
Newport News, VA
Company
Smith & Atkinson
Qualifications
Years of Experience: 33
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Family Offices, 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, Charitable Planning, Education Plan, A

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Mr. Yihaies (Mike) Makonnen (RFC®), CSA
703-750-3393, X311
5568 General Washington Drive
Alexandria, VA
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Makonnen Financial Group, LLC
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Education: BS
Years of Experience: 8
Membership
IARFC, SCSA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Charitable Planning, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Willliam F. Smith (RFC®), Jr, CHFC, CLU
(757) 875-2327
12715 McManus Blvd.
Newport News, VA
Company
Smith & Atkinson
Qualifications
Years of Experience: 33
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Family Offices, 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, Charitable Planning, Education Plan, A

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Mr. William S. Hrank (RFC®), MBA
(804) 859-0511
9947 Hull Street Rd Ste 289
Richmond, VA
Company
Personal financial Planning of Virginia
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Education: MBA - finance from Southern Illinois University.Post graduate Financial Planning from Virginia Commonwealth University
Years of Experience: 19
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IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, Business Coach, Education Plan, Asset Protection, Compensation Plans

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Mr. Patrick Anthony Massaro (RFC®)
(757) 286-2172
4445 Corporation Ln Ste 289
Virginia Beach, VA
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Patrick A Massaro & Associates
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Education: St. John Fisher CollegeUSMC Special ForcesFORMER Federal Officer
Years of Experience: 9
Membership
IARFC, MDRT
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Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Seminars Work, 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, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, LiabCover, Compensation Plans

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Darrel D. Shinn (RFC®), EA
(540) 825-2740
146 Duke Street
Culpeper, VA
Company
Darrel Shinn Financial Services
Qualifications
Education: BS, MS
Years of Experience: 26
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Employee Benefits, Family Offices, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Healthcare Accounts, Compensation Plans

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Mark Julian
(703) 362-2100
Fairfax Station, VA
Coaching Types
Life, ADD ADHD, Business
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$100/Hr
Gender
Male
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CPCC
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ACC

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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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