How to Find the Best Financing Incentive Options for Your Business

Transcript

Andy and Jessica welcome you to another episode of The Deal Board where they are talking about their favorite topic: Money! They will dive in today about how to get money coming out of the COVID-19 pandemic. As always, they are accompanied by experts who share their views and advice. Ami Kassar founder and CEO of MultiFunding and author of The Growth Dilemma, has earned a national reputation as a thought leader in business finance. Ami shares in today’s episode about the process of seeking the perfect fit for a financing deal. John Chaffee is a business broker in Greenville, North Carolina, and who also worked in economic development for several years, and today he teaches about financing incentive options and how the economic development offices have permanent programs for financing that are not SBA.

Listing of the week: Jenna Porzillo (Bellair) is selling a pool company that is doing so much business that it is barely investing in advertising. The owner wants to retire but is willing to stay from one to three years to help the new buyer learn about the business. Great possibility to expand. Current $8 million revenue. Clean books and records. A great relationship with the staff. Amazing location. Contact Jenna Porzillo at (443)694-5013 or email [email protected].

Key Takeaways

[3:30] Ami Kassar from MultiFunding talks about the services he provides.

[5:10] What do the valuations look like today?

[5:48] Ami talks about the challenges for SBA lenders.

[7:50] Ami shares his predictions for the upcoming months, coming back to the regular loans and the rise of interest rates.

[9:23] Ami talks about the loans that are not SBA.

[12:25] Ami talks about the trends in business growth in the past couple of years and how these relate to the financing options available.

[14:40] You need to find the value of the monthly payment of your loan as a priority.

[16:36] Ami talks about small loans.

[18:34] Deal of the week: Roger Smolik (Colorado) closed a fascinating deal on the funeral business in an unserved area. They had been in business for over 30 years as a family business with a 45% margin and no competition. A business that can be grown exponentially with the right advertising. Sale price: $1,110,000 + $80,000 inventory. SDE from 2020: $446,000.

[30:33] John Chaffee talks about his professional background.

[32:08] What do economic development offices do in the local economies?

[34:50] Which areas are covered by economic development offices?

[36:33] John talks about how to understand what opportunities are available through the economic development offices.

[41:09] John tells of another example of funding: the USDA (The United States Department of Agriculture) and their loan program.

[43:18] Jessica and John talk about prepayment penalties.

[43:50] John expands on the benefits of the new market tax credits.

[47:42] How to start the searching process?

[50:05] Listing of the week: Jenna Porzillo (Bellair) is selling a pool company that is doing so much business that it is barely investing in advertising. The owner wants to retire but is willing to stay from one to three years to help the new buyer learn about the business. Great possibility to expand. Current $8 million revenue. Clean books and records. A great relationship with the staff. Amazing location

Mentioned in this Episode:

The Deal Board Podcast

Subscribe to The Deal Board Podcast YouTube Channel

United Franchise Group

Transworld Business Advisors

Transworld on Linkedin

Transworld on Facebook

Call us — (888) 711-9018

Email us [email protected]

Email Ami Kassar at [email protected]

SBA Ignite

Reach out to Roger Smolik

Email John Chaffee at [email protected] or call (252) 933-9455

Contact Jenna Porzillo at (443) 694-5013 or email [email protected].

Mentioned in This Episode

• The Deal Board Podcast
• Transworld Business Advisors
• The Deal Board on LinkedIn
• The Deal Board on Facebook