BUILDING BUSINESSES THROUGH COMMUNITY INVESTMENTS
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1 Community Capital Group 411 E Franklin Street Suite 203 Richmond, VA P: F: BUILDING BUSINESSES THROUGH COMMUNITY INVESTMENTS
2 HOW TO GET YOUR LENDER TO YES!!! (CONFESSIONS OF A RECOVERED BANKER) Global Association of Risk Professionals. All rights reserved.
3 THE BOOK Global Association of Risk Professionals. All rights reserved.
4 THREE BAD GUYS Greed Competition Hubris Global Association of Risk Professionals. All rights reserved.
5 WHAT COULD GO WRONG??? Global Association of Risk Professionals. All rights reserved.
6 THE PLAN YOU LENDER INVESTORS Global Association of Risk Professionals. All rights reserved.
7 WHAT COULD GO WRONG??? Global Association of Risk Professionals. All rights reserved.
8 LOAN WAREHOUSE Global Association of Risk Professionals. All rights reserved.
9 SMELLS LIKE ROTTEN EGGS!! Global Association of Risk Professionals. All rights reserved.
10 BLAME????? Global Association of Risk Professionals. All rights reserved.
11 I AM HERE TO CONFESS MY SINS I said YES when I should have said NO. My greed was more important to me than your financial stability. I fell asleep during a training class. I termed a Strip Club a Gentlemen s Club when there were no Gentlemen in sight Global Association of Risk Professionals. All rights reserved.
12 Global Association of Risk Professionals. All rights reserved. YES!!!!!
13 HOW DO I KNOW HOW MUCH MONEY MY BUSINESS WILL NEED? Business Plan will detail financial needs: Location cost to purchase/lease space. Equipment computers, furniture, fixtures, machinery. Working Capital funds needed to operate the business. Inventory items for sale Global Association of Risk Professionals. All rights reserved.
14 WHAT ARE THE SOURCES OF CAPITAL NEEDED TO FUND MY BUSINESS? Owner s Capital at least 10% of project cost. Investor s Capital consult an attorney to protect you and your business. Business Loan used to shore up your funding needs Global Association of Risk Professionals. All rights reserved.
15 WHAT TYPE OF BUSINESS LOAN DO I NEED? Term Loan fixed term loan with maturity of more than one year with defined periodic payments. Provides capital to acquire assets, inventory, or fixed assets. (Think car loan, mortgage) Line of Credit agreement by Lender to fund up to a specific amount over a specific time period. Used to support Current Assets. (Think credit card) Global Association of Risk Professionals. All rights reserved.
16 WHAT ARE THE SOURCES FOR BUSINESS LOANS? Banks if you have an establishment relationship with a Banker and good credit, Banks are an excellent source for a wide variety of loans. Non-Bank Lenders range from hard money lenders to national business lending organizations. Community Development Lenders mostly nonprofit organizations that provide loans and Technical Assistance Global Association of Risk Professionals. All rights reserved.
17 ELEMENTS OF THE LENDING DECISION 1.Does the business generate sufficient cash flow to service the proposed debt and the other obligations? 2.If the business does not generate cash flow to service obligations, are there other sources available? 3.Are there business and personal Assets that can be liquidated to pay off the debt and other costs? 4.Do the owners have the resources and character to assume responsibility for payment of obligations if the business defaults or is unable to perform under terms of the loan? Global Association of Risk Professionals. All rights reserved.
18 Contact Information: REDC Community Capital Group, Inc. 411 E. Franklin Street Suite 203 Richmond, VA (804) (804) Fax Website: Follow us on Twitter: You Tube: REDC-Small Business Owner.mov REDC-Philanthropy.mov Global Association of Risk Professionals. All rights reserved.
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