I have that, i worked with one of them, my current mortgage guy is even one of our customers, and we do the banks wireless. One of their pending projects could be my first owned fiber/duct recurring revenues.
My dad taught me since i was little about getting to know the banker. He had to close his business when i was young because it was dependent on a factory that went belly up and didnt pay its invoices. Dad didnt want to go bankrupt on his debts, so his banker worked an arrangement where dad depositied his new jobs paychecks, the banker paid his bills and gave dad an allowance (he said swallowing his pride this way let him keep his pride in not being a welcher). It took a couple years but her got all his debt square. After that, any time dad needed credit for anything, he went to that guy, who knew dad would pay. That guy ended up being the bank president and even with the new loan officers dad has the unwritten line of credit. Some of the loans hes gotten over the years im pretty sure violated policies, but having the bank president vouch goes a long way On Thu, Feb 3, 2022, 8:01 PM Chuck McCown via AF <[email protected]> wrote: > That’s important: “was on first name basis with VP and loan officer... “ > > You gotta get a local bank, stick with it and get to know them and them > get to know you. Makes a huge difference. > > *From:* Jaime Solorza > *Sent:* Thursday, February 3, 2022 5:30 PM > *To:* AnimalFarm Microwave Users Group > *Subject:* Re: [AFMUG] Ot: business loans > > When I started my company in 1992, I had some large purchase orders from > Johnson & Johnson plus GE Capcom which I used to receive loans from bank. > Had to get them signed over to bank at first but after a few large orders, > the bank gave me a $100,000.00 credit line to get ramped up...Always paid > on time and never abused it...was on first name basis with VP and loan > officer... > Not sure if banks are this open to help small businesses anymore...can't > hurt to try....good luck > > On Thu, Feb 3, 2022, 3:18 PM Steve Jones <[email protected]> > wrote: > >> Ive never done business loans before, just mortgage and personal. >> >> Do lenders consider contracts to be future revenue? >> >> Where is the best type of lender to look for with no business history? >> The local lender with the mortgages and local personal loans? National >> lenders? What about if 2021 deatroyed your personal credit to a fair >> rating, is a business loan even an option even with a contract exceeding >> the loan amount by 80 percent? >> >> Is the sba an actual resource to invest time into for starting something >> up, or is it like BBB. >> >> >> Aside from the loan question, when getting into underground work (laying >> pipe, and cablework) what expenses outside labor, insurance, >> maintenance(vehicle, equipment, staff lodging/per diem, fuel, etc), >> tax/workmans comp, etc do you come across? If you dont own the duct. >> >> >> >> >> -- >> AF mailing list >> [email protected] >> http://af.afmug.com/mailman/listinfo/af_af.afmug.com >> > ------------------------------ > -- > AF mailing list > [email protected] > http://af.afmug.com/mailman/listinfo/af_af.afmug.com > -- > AF mailing list > [email protected] > http://af.afmug.com/mailman/listinfo/af_af.afmug.com >
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