Is that liveoakbank.com? On Fri, Feb 11, 2022 at 1:04 PM Chuck McCown via AF <[email protected]> wrote:
> Talking to John Scrivner of Live Oak. Looks like a good bank for guys > like us. > > *From:* Mark Radabaugh > *Sent:* Friday, February 4, 2022 12:47 PM > *To:* AnimalFarm Microwave Users Group > *Subject:* Re: [AFMUG] Ot: business loans > > Tried that myself, in the end it wasn’t worth a shit. Probably spent > 15 years grooming a local bank. They were more than happy to take our > deposits, give us auto and real estate loans but when it came to fiber it > was a completely different story. > > In the end they were worthless. Ended up going with Live Oak, who has > been great to work with. > > Skip the local guys - they don’t understand anything that isn’t real > estate or vehicles. Get your books in order, do proper accrual > accounting, quit expensing everything, and go find a bank that knows the > industry. > > Stop wasting your time with the idiots. > > Mark > > > > On Feb 3, 2022, at 9:00 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 > > > > ------------------------------ > -- > 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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