The Ultimate Blueprint For Small Business Owners To Kickoff & Finance Your Business Fast | Nasir El ameer | Skillshare

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The Ultimate Blueprint For Small Business Owners To Kickoff & Finance Your Business Fast

teacher avatar Nasir El ameer, Financing Expert To Kickoff Your Busines

Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

18 Lessons (1h 25m)
    • 1. Business Owners This Is For You

    • 2. Class Intro

    • 3. The Journey

    • 4. The #1 Tool

    • 5. The Challenges

    • 6. The Trifecta Effect

    • 7. The 3 Things Every Small Business Owner Gets Wrong

    • 8. The Business Lines of Credit Explained

    • 9. The Revolving line of credit

    • 10. The Magic of Business Lines of Credit

    • 11. The Perfect Fit

    • 12. 1 Strike and Your Out

    • 13. The Right Partners

    • 14. The Truth About Banks

    • 15. Keep Your Nude Selfies To Yourself

    • 16. Limitless Success

    • 17. Case Studies

    • 18. Recap

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About This Class

New Course Reveals How to Kickoff Your Business using Secret Financing strategies even if you’re having challenges now securing financing for your business or don’t know which program fits you.

From the desk of Nasir El Ameer

Los Angeles, CA

Dear Student,

If you’d like to have financing for your business that is flexible, easy to get approved for, and make an impact on your bottom line, this will be the most important course you’ll ever read.


Please understand that your results as a business owner is unique to you and your situation.  I ‘m not implying that you won’t get results but seeking financing as a business owner is an uphill battle.

Statistics show that 80-90% of small business owners are denied financing.  The factors that affect these decisions are:

  • No credit history
  • To risky to lenders
  • Lenders  not lending to small businesses due to new regulations
  • Not applying for the right financing
  • Not working with the right financing partners
  • Small business owners lack of program offerings

However, I have the benefit of practicing financing and providing expedited funding packages and programs for business owners for 5 years, and have an established track record as a result.

The average business owner who buys any how to information for financing their business gets little to no results.  I ‘m using these references for example purposes only.

Your results will vary and depend on many factors…. But not limited to your background, experience, business positioning, relationships, and mindset.

All business entails risk as well as massive consistent effort, action, and key relationships.  If you’re not willing to accept that , please DO NOT GET THIS COURSE.

Here are a few questions you may be asking yourself right now….

“Does This Apply To My Business Or Industry?”

You’re probably wondering if this course only applies if you run a business that has severe cashflow problems or is in deep debt or on the brink of going out of business.  The lectures were designed with the application across multiple businesses and industries whether you’re a startup or an existing business.  Not to mention those who want to scale up their operations and take things entirely to a new level or break through a plateau.

Conclusion: This course covers all indsutries,groups, businesses, and entrepreneurs—which makes for maximum benefit you learn, apply, and deploy the ideas.

“Will I Learn Anything New Or Is This A Re-Hash?”

There is nothing worse than buying a course or product and wishing that the person who wrote the sales letter wrote the course.  Well, in this case I did.  And these amazing secrets come from years and years in the business.  They’re the very fabric of my being, my life, my business.

Conclusion: Unless you’ve processed 1,000+ financing programs and hobnobbed with dozens of lenders and the most famous high achieving underwriters, bank executives, hedge funds, private lenders then absolutely.  And I’ll stake my reputation on that statement…


“How Much Money Will These Secrets In The Lectures Require Me To Spend?”

Many of these secrets require no money.  But Lecture #17 & #11 shows a clever way to getting financing fast while increasing your return on investment. 

Conclusion: Many of the secrets in the lecture don’t require money.  Others should largely have an immediate impact on the bottom line and are self funding.

“How Quickly Could I See Results And How Much Will I Make?”

The faster you implement secrets in your business, the faster you’ll see results. Extremely fast action takers could see almost immediate results. Slower than molasses implementers may never see painfully slow results! Are you a doer or a talker? That’s the bottom line.

You’ll make as much as you sell not a penny more.  Fortunately you’ll discover “financing up” methods that could make that happen 10x faster and 10X more revenue potentially.

Conclusion: Bottom line is the faster you implement, the sooner you see results.  How much results, response or money you see depends on you, your business or model.  But you will discover “financing up” secrets.

Why Am I Sharing These Financing Secrets If They Are So Darned Great (and they are)?

You may be wondering why I’ve decided to share these secrets and teach a course if they’re that great (and they are)!

In fact, I debated if I was going to let the cat out of the bag on some of these secrets.  That’s just how potent they are.

Here’s the thing.  Im in my late 20’s now.  And I have lived a very abundant life.  I realized that many business owners are struggling to make it each year statistics show new business starting but going out of business within 12 months. 

I’ve been fortunate to meet, work and know incredible people in the financing space.  Along with running my dream business helping small business owners live their dreams.

Why shouldn’t I share this knowledge?  I really can’t lose anything.  These secrets come from many different industries and the number of ways they can be applied are as varied as a kaleidoscope.  The chances any two people will use them in the same exact way are slim to none.

Not only that I still have something to prove and be of service to small business owners.  Although I am not a pessimist by nature the small business lending space has more players than ever before in times past but they are still not showing you as a small business owner how to access the financing. Worst of all is that banks, and government funding programs are not lending to small businesses due to risks and regulations they rather serve the big corporate businesses. 

These are secrets and lessons that could only come from me , and my experience of working with several business owners to secure financing for their business.  They are the cream of the crop of everything I know.  I’m proud to give them to you and to be of service to you.  And I’ll be grateful if they not only help you in your business as well as your life, but if you become an ambassador and help me spread the word in a grassroots way about this course.


 With that said…. Let me jump right in and show you….


First of all this isn’t like any business course you’ve ever taken.  There’s no fluff or filler- just battle tested tactics that are working right now.

And it’s easy to finish.

At 19 modules with an average time of 6 mins per module you can finish the course in the afternoon.

And It’s About More Than Just Financing.

 See, you can use the strategies in this course to apply to your mindset, secure financing today, leverage real estate, improve marketing performance, hire more talent, and expand your business operations or kickoff your startup.

For example, I’ve also used the same strategy to turn my business around from failure to success while also improving my personal life.

An IT startup recently used the same strategies in the course to acquire a competitor after being in business for 2 years.

A investor in the real estate industry is using the same strategies to acquire properties fast before they hit the market at bargain prices and then using the same strategies to expand her working capital in her businesses.

So like I said, there’s more to this little course than financing. Here’s a fraction of what you’re getting…

  • The new approach to get financing for your business. It’s like nothing you’ve ever seen before and it positions you to have lenders knocking at your door.  Lecture-5
  • You need a high business credit score to get financing for your startup right? Wrong! The “usual stuff” totally backfires when it comes to getting financing for your business. Lecture- 6
  • Why you should never tell the bank you need money. Lecture -12
  • The truth about banks and lender and why the government hates small business owners Lecture  15
  • How traditional lenders are not your friend no matter how long you have had an account with them – Lecture 15
  • Famous Billionaire gives tips on financing anything and how he financed 50% of his 3.3 Billion Net Worth – Lecture 12
  • When its ok to borrow money even if you don’t think you should- Lecture 17
  • How to eliminate fear, regret, and worry as a small business owner.  A simple approach to a more abundant business – Lecture 7
  • I built my entire business and other businesses using these 3 simple tools to get expedited funding before I needed it – Lecture 11
  • The truth about credit and why Apple still borrows billions of dollars while keeping billions in the bank and you can too- Lecture 15
  • Ever wanted to know how to close a big deal fast while keeping out your competitor for good- Lecture 18
  • The 4 sins of every business and the unforgiving truth to being debt free- Lecture 4
  • The only tool you need for your business besides oxygen – Lecture 3
  • 3 right wrong mistakes every business makes when financing their business – Lecture 6
  • Why the frame of a picture can make you more successful in your business- Lecture 7
  • The financing magic trick that every business owner can learn to 10x their business- Lecture 11
  • Strike one and your out, the one thing you must avoid so you can hit a homerun- Lecture 13
  • Keep your nude selfies private and run your business without being exposed- Lecture 16
  • The one costs every business owner gets wrong unless you have the secret formula- Lecture 3A
  • The one partnership every business owner should have- Lecture 7
  • Where to find approvals instead of applying- Lecture 14
  • Say goodbye to stressful sleepless nights and countless applications- Lecture 16
  • What to do if you’re a start up business that didn’t make it on Shark Tank- Lecture 14
  • How to eliminate your biggest fear and worry as a business owner- Lecture 7
  • What you should never do when you walk into a bank- Lecture 12
  • The 1 person to hire in your business team  costs no money, or health insurance but will 10X your business – Lecture 17

Your’re right that is a lot of battle-tested strategies and tactics.  And it’s really just the tip of the iceberg.

But it gets better because you’re also getting

An advanced “Stealth Financing Framework” system for securing financing fast without being rejected!

At the end of the course you will know the most powerful framework for financing your business ever deployed in any industry.

You’ll learn how to apply, when to apply, who to apply to, and establishing key relationships to get financing on demand- without fear of rejection, loss of reputation, or begging.

This simple but effective method has helped me finance multiple businesses for almost 3 years running, but nobody else does it!

The best part of this is that it’s…

Specifically Designed For People Who Hate “Rejection”

Listen if you don’t like “rejection”, your not alone.  I can’t stand it either.  I’d literally rather not ask than be rejected.

And that’s why I ‘ve spent years developing the framework I’ll be giving you in the course.

When you use it, two things will happen.

 First, you’ll be of genuine help to lenders and investors.  They’ll come away from the experiences with you viewing you as the go to business for making big deals and will give you access to funds whenever the opportunity calls for it so you can continue making an impact and serving others.

This is really important to you because it sets you up for a long term relation with them and helps you increase revenue for future growth and get the best financing terms even in a recession.

The next thing you’ll notice is this

You’ll Know How and When To Finance!

And you’ll do it without fear of regret or hesitation, you won’t have to worry about losing your business or have to go to a bank for hours to convince banks to give you money.  You will simply run your business efficiently with the right amount of capital to grow to increase your ROI.

Here’s What To Do Next

Enroll in the course start with Module one today and I will be here with you every step of the way to answer your questions and concerns.

Meet Your Teacher

Teacher Profile Image

Nasir El ameer

Financing Expert To Kickoff Your Busines


Hello, I'm Nasir.

See full profile

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1. Business Owners This Is For You: Hey, welcome to, of course, on how to kick off your business using business lines and credit. I'm your teacher to see over here, and my background is in the financing inch. I wish you'd consider financing next. I hope small business owners like yourself get access to financing your denied by big baits . And I'm also here to help your formula programs. That would be a perfect fit for your goals. You're leaving challenges. Danger. Meat course I put together is a simple course that walks you through summer, different modules from PowerPoint presentations to me on the white board or to me, just talking to you just like this to help you understand how business lines of credit work , as well as how financing in general can increase your return on investment. Help Richard those fans. This course is perfect for those words in the start up phase, or looking to expand business from their existing operations to grow and reach past plateaus. Because as a business owner, let's face it, it's not gonna be a straighten your path to get us to success were often going up heels and coming down, and we have to learn how to manage as well as having personal. I want to put a positive force a mindset to help creature success by refraining yourself from failure moments of being highly successful. So at the end of this course, you're gonna run out of confident future self position to get financing unique to your needs. You also wanna learn how to bypass the application process to get straight approvals. And you're also gonna learn how you compartment with a unique financing expert that could help your business grow without any cost to you, has an immediate impact on about. So I look forward to seeing you in the course. 2. Class Intro : everybody. I'm the teacher to Salem here, and I'm here to let you know that you've made a great decision to join this course. This course is a jam packed concise course to give you the information you need. So that way you can go out in your business and get your business in the right direction. I'm a financing consultant by trade. I have a business that specializes in helping small business owners such as yourself get financing for your business that helped get your business in a position to grow or in a position to just get off the ground. I have seen some of the best case scenarios of businesses, and I've also seen in the worst case scenarios in each business that I have come across, whether it's good or bad or the matter of the industry at some point, need some form of financing and having financing and having the right program mix within your company helps you run your business more efficiently. And then this course I'm gonna walk you through what it takes to get these types of products within your business. I'm just going to show you how they work, where to get them from what partners to work with and also case studies and EQ section. We have, ah, video that slides that goes over the high level overview of what that module is for that lecture, and then we may have an assignment at the end. I've included audio, uh, podcast you guys can check out also included video, another assignments that help you mentally get better, but also so you can start connecting certain experience that you're having with other entrepreneurs and also tightened a whiteboard session where it's me drawing on my white board, just giving you more clarification or any concept I made. Things needs a little bit more, uh, understanding, and just to break it down so you can get it. So I look forward to teaching you all. I look forward to the feedback of Look forward to interacting for free. To leave your comments, leave a review, ask questions, you know, feel free to share your experience with other so everyone else can learn, and I look forward to having this great experience with you. All right, let's get started 3. The Journey : Hey, everybody, welcome to the journey and this module. We're gonna go over the journey that you will go through as a business owner as well as prepare you for some of the challenges that you will face. So let's go Exciting times. We are living in exciting times without leaps of imagination or dreaming. We lose the excitement of possibilities. Dreaming, after all, is a form of planning. Gloria Steinman. And if you think about it as a business owner, your life is in your control. You're the one living life in a meaningful way. Or are you in business? And this is your business, making your life unexciting? Is it dreadful? Are you facing any pain? Don't wear will be able to talk about that later and show you how you can overcome that. Walking the journey. Being a business owner is a noble endeavor. It could be easy at times and other times extremely difficult. As a business, only you take pride and help of people with your products and services. Your business is an extinction of you in your creativity, the rewards. As a small business owner you're able to serve. Others have time, freedom, spend time with your family, have unlimited earning potential, solve problems and design your life your way. Some of the officer cools you will face as a small business owner include frustrations with growth financing challenges, which is a major concern. Over 90% of the small business owners in the United States face that problem. There could be the potential M call loss if your business doesn't happen to stay in business long enough, or you may be unable to start your business. If you're looking to have a startup or you have an idea and you're able to find Captain, there could be living opportunities if you don't have cash flow to sustain you. And worst of all, usually when we lose a business, oftentimes it affects us psychologically within our core and we lose our identity. My promise. So I'm here to help guide you through balancing your wants and aspirations while avoiding your deepest fears and frustrations. Are you ready? Your business? The benefits of working your business is being free, doing what you love and never working a day again in your life. You're gonna be changing lives, making an impact giving philanthropy and most of all being able to spend time with your family or make great moments of your friends or even travel. See, it's up to you. When we walked this journey which way we want to go. I'm here to help you get to your direction as quickly as I can. And with you being effective at doing it, it's not gonna be easy. And you may have run into some challenges, but I'm here to help you. And this course is here to show you one tool that you can add to your arsenal to help you and your business grow even Get your startup started. What's next? So I see in the next module as we tackle the challenges you face head on. All right, see you. 4. The #1 Tool : Hey, welcome to the lecture on the journey of a small business. Now, in this lecture, we're gonna cover the number one thing you need for your journey and small business. Some of you There's things that you may need for you. Some of you may need a sales team. Some of you may need a marketing team, but many of us we probably need a service, A product client. Some of us need a legal team for each business. It varies on what our needs are. But across all businesses, all business need financing. And with the right financing, it helps you go along your journey a lot smoother. It comes in and times where things get rough. Forget hard and your business having right financing and push you through. It can even be the determining factors to saving your business. It can also be determined fact to increasing your opportunities and expanding your operations. But with no financing, it's almost like being in a desert with no water. It is also similar to being in a storm with no Renko or no place to go there safe. So with financing, we're allowing ourselves to capitalize our business in the best way possible. It allows us to stay in business longer if we manage it correctly. It allows us to continue to serve our clients and make an impact for the ones that we love or the products that we want to offer to people. So what, you're trying a small business owner. If you don't have financing, things could just be bumpy and rough, but with right financing and right tools, as I'm sure you later in this course, you go out yourself to go on this journey in a smooth fashion, and you give yourself the opportunity to live the journey in a wonderful way. 5. The Challenges: welcome to the marginal overcoming challenges. 9% of businesses Phil and the recently fails because its cash flow problems and low capitalisation. It's a staggering stat considering that most people in the United States are employed by small businesses. But many small businesses go out of business within the 1st 5 years. The same goes that if you could stay in business for two years, you're likely to be in business for another two years. But once you get the best for five years, the possibility you make it another five years become slimmer. Unless you put yourself in position to be for the capital of the eyes and have healthy cash flow be bigger than the challenge, I understand why businesses failed gives you an edge to be competitive and stacked. The odds is assessing your favorite when you're able to massive dish. You allow your business ago from surviving to driving. As a business owner, your success is found when you're able to overcome failure quickly and establish right finance relationships. Maximize your credit and business credit and performing extra peak consistently the stakes . When you get this, the grand prize is all yours. You will minimize the impact of opportunity costs increased consistent cash flow, which is the main cause of failure. When you don't have consistent cash flow, you maximize your time, develop new relationships, increased revenue, make a bigger impact on your business for your clients and also have the freedom and do what you want when you want. When you don't get those stakes, you get what we call a danger zone, which is business failure loaded. No consistent cash flow for being unable to get financing. You'll be working harder with no freedom. You have less impact for your clients, limited family time, stress and loss of identity. As your guy, I'm gonna show you this lesson, what challenges you will face and how to overcome those challenges throughout the course. That's number one. Opportunity coughs. Every decision of light has a cost. Even decisions should not make a decision triggers opportunity because and as a business owner, whatever decisions you make today can affect you tomorrow. Those decisions can have an immediate impact on the bottom line, where they can have an adverse impact on the bottom line. See, when you create a product of service, there's only so many people that you can serve by yourself. There's only so many people that you can reach when you're doing things and running all the task of your business. See, it's one thing toe work on your business as a post working in your business. And when you're working in your business, you're usually tied to doing tasks that may not be very beneficial for you and your business life for the longer as it creates profitability for you. The other thing about this challenge is that when it comes to financing, financing is not just credit. It's not just borrowing or alone. Your financing is. Your revenue you're financing is the cost that you're paying to get your product or service available. It's your time it's your client thinks you work with. You're gonna have good clients. You're gonna have bad clients. Its failure toe. Learn from your mistakes so that you could make your product and service better. And it's also your success because doing your most successful moments those times that you should be establishing unique relationships. Teoh. Keep your continued success instead of working backwards and going after opportunities or seeking help when you really need it. But more on that later. Challenge Number two is consistent cash flow. If your business is on empty as faras clash coming in every month or there's more bills or debt that you have an unable to service it, you're gonna run out of money and potentially run out of business. Most business owners get to this point, and it's too late. Sometimes the lack of cash flow has had an adverse effect on a business that no investor or lender wants to deal with the business because the business is operating on a negative. Now you is a business owner. You may believe in your product and your service wholeheartedly. But if the numbers are not showing you what you need to see, you need to take a step back and reevaluate your plan. Oh, maybe reevaluate yourself, maybe remove yourself from a position and put somebody else there. Maybe look at your clients. Having lack of cash flow is a sign that you need to reassess its a sign that you should look at what you're doing and reassess your processes as well as your thinking Challenge. Number three. Inefficient use of time. Now If you noticed the previous two challenges I gave also correlate with your time. See when you have low cash flow it constantly. Spending it was to make more cash. And if you're always trying to make more cash, you eliminate yourself from having opportunities, invest in your business to maybe hire somebody or even seek new opportunities, which all goes back to having an inefficient use of our time. Once we get on the will of all these things and tasks that may not add to our bottom line may not add to our casual make a take advantage of new opportunities. We put ourselves in the predicament that can make us very, very inefficient. And once we get there, we go along his will and we go through a dreadful state of not having freedom anymore, being stressed out maybe not spending enough time with her family or just simply just spending day by day not knowing where the next dollars going to come in. But when you master the 1st 2 challenges, you'll be able to take advantage of this challenge and actually be more efficient. Challenge number four Access to capital I stayed in the beginning with our hook, 90% of businesses fail without because they don't have any access to capital. Most business owners put Mitt much attention on their product and service, but they don't put much attention on how they're going to capitalize their growth or how they're going to capitalize themselves of seasonal changes or what the plan is for when business just takes a time. I mean, most people will tell you all just save money and use that as an emergency. But what if that's not enough? What if you have an emergency opportunity that comes your way where your business can grow 10 times, but you're unable to fulfill the order because you don't have enough capital? And now you're looking for capital at a time where you may not have enough time to take advantage of. So with this challenge, we as business owners, has the reengineer how we think about our business. Once we begin to business, we should start a business and learning how to get financing at any time that we need it in any time when we don't need it having a clear plan for this, it's significant going to reduce the effects of the previous challenges and put you in the track of being in business for a very long time. So what's the solution? One. Have a business plan to have a financing plan. Three. Understand your current needs and featuring eat for Get it understanding of your credit and getting understanding of your credit as a business owner and as it relates to your job and test of your business, establish a team of lenders and specialists will cover this in the course. Also established access to lines of credit always be Linda. We will all wait, and we will also cover this and later marches in the course. So here's what I want you to do. I want you to download the assignment at the end of this month and in the assignment we should Alicia aspirations. And once on one side of the document and on the other side of what you did this your fears and challenges with this this is gonna be your law to see where you are and where you want to go. And also look at what may be holding you back internally. That may have never surface or look at things that may have surface and how we could work around as your guide in your structure and also being just a friendly person. I want to help you. So take out that assignment downloaded, complete it and keep it as a lock for yourself. So the vision overcoming challenges is no small feat. But challenges are here to make a stronger, and as long as you believe in yourself, you will overcome what's next. For the next month, we will explore the mechanics on the business lines of credit, and also you can download the assignment to get started now with your wants, aspiration, challenges and fears. See you in the next March. 6. The Trifecta Effect: everybody is this year. Let's go over quick math scenario on opportunity costs and higher Elise to our finances and our business. So right here I have $2 right? So you have this wonderful investment opportunity where you can earn 10% a year on these dollars right now. So the reality is you're willing to put in $2 but you ran into a scenario where you had to spend a dollar on operations, right? So you had to put this dollar away. Now you have a daughter left is earning 10% this year. So at the end of the year, you have a dollar intensity. Now, I'm gonna ask you, how much money did you miss out on? So most people say they missed out on a dollar. But the reality is you missed out on $2 in 20 cent return on your money. So in the beginning, we had $2. But because we had to spend this dollar, we have to for gold are between that this dollar could have earned us an interest. And instead we only had this dollar earning his interest. Which only gave us a dollar 10 cents. Where many people go wrong is thinking what I've only missed out on a dog. You missed out on $2 in 26. So this is how opportunity costs works. Once we make a decision to use our money for a certain value or item, we usually forgo the opportunity to have that money do something else for us. When we do that, it can affect our cash flow when the next time will be making money, and they can also affect the timing it takes to get to the next opportunity. So how this all ties in with having access of Islam credits that it gives you the financing power to keep both of these dollars working for you while using other people's money and other people's time and resource is toe help you create more cash flow, maximize your time even better, and continue to take advantage of opportunities all the while keeping your dollars and your operation of working capital working for you to help you get to your goals more efficiently 7. The 3 Things Every Small Business Owner Gets Wrong: so I want my journey. There are gonna be some challenges going face as a small business has released financing your business there. Three challenges most business owners face is not knowing what programs are available. General education about credit and also how to deal with lenders and banks. So let's start with number one programs available. Small business owners are not adequate advertised as it is, as relates to personal consumer lending for his cars, credit cards and different industries. Business owners face many different factors to getting financing for the business. If you're in an industry that banks are letters sent, risking their likely not going to get funding by walking into a but they are lenders out there that should may not see or have heard of that are willing to lend to you. But you have to know how to get access to them. You have to present your case of them, so that way you get Linda. The other variable is education. Many small businesses that I've talked to don't have an understanding of credit. Maybe you start your visit with cash or maybe never had to use credit. Maybe just don't understand how credit works and credit is a weird instrument to use because the way is explained is that if you use your credit, you get dinged for it. And if you don't use your credit, don't have credit you still getting. So what is that it? Well, quite simple. You have to understand the rules of the game so you can start playing the game to your advantage. When it comes to credit, your credit is nothing but a function of your history of how you handle servicing debt in the past. It's not a good or bad thing. It's just a track record. And as a business owner, it will be the most important. Not only prove your business to be a success, but also to make your credit a success by showing your ability to manage debt to manage credit as well as to manage your finances. And having a great credit or understand how to use it allows you to possess yourself in front of lenders to get financing right 30. Thanks. All right. Do you think about a bank way thinking about the place where we deposit our money, have savings or even come in here and get a life apart from the bank. But the bank is also a place where we can go get some financing program sections, loans and credit card. But the things you don't know about the bank is that banks are not the number one lenders for small businesses. The reason. Banks were not to know more for business owners because one Maynes consider small businesses at risk a big risk. The second thing is the regulators that oversee the banks don't want another 2008 that happened. So they're really, really have a close eye on who the banks are lending to. And the third thing is letting the small business loans from the bank perspective. It's not profitable as compared to lending to a bigger business. The reason is not profitable because the same cost that it cost to write alone for you for $100,000 it's the same cost of a cost to right along into a bigger business. Who needs 100 million? So the bank is already positioned the small business to be the outcast versus big business . But as a small business owner, your needs are not as big as a big business just need a couple of $1000 maybe a couple 100,000 here, and then it gets Get your business going and you may have the financial to prove it. But the bank is so strict and restrictive or what they can approve that you just don't get it. And then they don't tell you. The last thing you should know about the banks is that the bank will never refer you to another bank to solve your problem. See, banks are selfish. They want you to come in, do all business with them, give them all your money, all your savings, and then beg you to get some type of finance or even turn in the arm or leg. A new picture or real estate and asked is messed up. So we consider those challenges on this journey, and you're going to get funding way, have to come up with a plan and reposition ourselves as well as educate ourselves on how we can do that. So I've seen in that's much 8. The Business Lines of Credit Explained: business lines of credit. As a kid, I always wonder, how are big buildings built in the city? I was always fascinated by how tall building wasa skyscraper, you know, growing up in the Washington D. C area Maryland area, there was a lot of monuments. White House, the Capitol Wonder. Like who builds the's big buildings like Where did the money come from? And I'm pretty sure where have built the building had all the money in the world to build these buildings and where you want other cities. There's even more, but more on that later. The big picture having understanding line of credit makes running a business easier and makes you more efficient and keep shoot away from the danger zone. As the business grows, you'll need a capitalsource agro with you and be dependable and good times and bad. Lots of credit also build business credit, and it's a great compliment for personal crime. This is also a good tool to use in case you're looking to have a startup. You never know how much you need until you need it. This thing's when you understand what business lines of credit are. Your business would never be the same. You'll have improved operating and working. Captain, you're minimize lost opportunity costs. You'll have peace of mind and efficient time management. And best of all, you have to prove return on investment. When you don't get this, you lose the states you return. Investments will be so part you will increase the chance of running out of business and your miss big opportunities to grow further. You may not have any peace of mind, and you haven't inefficient business model, which can get you stuck working in your business and not on your business. So my problems in this lesson I'm gonna show you what business lines of credit are and how they can kick off your business. We're going to cover business line of credit. We're gonna cover who offers business lines of credit. How they were was what makes them unique for business owners and how to access them. So lines of credit a lot of credit, simply an arrangement between a financial institution, usually a bank and a customer that establishes the maximum amount of loan that the customer can borrow. These loans usually come in the form of credit card, a checking line of credit. So you may be wondering, Why would a credit card for image a line of credit? Well, simply a credit card is simply alone or line in a plastic format that gives you a certain limit that you can use to make everyday purchases or to do pay for invoices or simply just have as unversity source. There's also checks that can come with different credit cards and sometimes the bank may or fuel checking line of credit that simply are functions like a tracking account, where you can use it with a debit card or have a checkbook associated with it. So the number one issue of lines of credit our banks and they also are one of the biggest developers of city infrastructure as well as urban development. So those big buildings that I thought about as a kid, I later found out that banks were the go to source for developing those initiatives to get those projects off the ground, and they helped construction companies get access to lines of credit. They also offer different loans and other financing tools to do so. And as a business owner, you can have access to that as well, so here's how they were set again. Some function like a checking account where you can write a check that's not too common these days. Considering 2008 when we had the global recession, a lot of checking line of credit accounts were pulled back due to Baines having issues. So today, most lines of credit function as a credit card, and usually certain banks will offer what they call access checks to be able to withdraw money from the car in the form of an event. The best part about is that the Barak unused available phones any time up to the limit for purchases. The bar also usually has a time frame of 30 days before the balance of Cruz, and there's interest charge. There's some lenders will, even off their 60 day payment cycle. So how that what that means is, if you buy something $400 you don't pay it off within the next 30 days, during your next billing cycle of the bank will charge you an interest on the $100 extra you spent. So, in essence, if you're able to pay the things that you have on a car, within 30 days, you pretty much have an interest free long. So if the borrower plays off the line within a 30 days, no interest, acute cruise. And if you don't pay that off, then you'll have interests that is added to the balance for the next billing cycle. And depending on the yearly rate, that balance or interest charge could be a nominal charge of less than 2%. You know. Mostly it is using no more than 2% on a month to month basis. But most people with great credit, they tend to see anywhere between maybe 0.5% to maybe 1%. So do you think about 100 out of balance? 1% of 100 bucks is just $10. So again, you know, just understand that that's how that works. They're also unique. Inflexible Atlantic credit is flexible to your needs. It can be used relatively quickly. There is no delay. One sure proof, or you don't have to ask anyone for the funds and how you can use them. They last for a very long time, so they're not like alone, where there's an in term two when that law must be paid off and the funds or no one will be available to you. These funds function like a line where, as you use the line, it becomes a balance. But as you pay it down, going to use it again over and over and over again. You can also turn amount of credit in two alone, combining that with, like a promo interest period where you may have a 0% interest for 12 months, but there still is a payment do. It is usually roughly 2% of the balance there, and you can basically max out the car to do certain purchases or take advantage of opportunities, and then just pay 2% on a month on month basis and you'll be paying directive principle without any interest. They also come with 0% interest promo periods. You're also able to move around balances with the car. You're not stuck with debt on the balance sheet by the loan. Would Onda also along with accrue interest, day one where it was with the line of credit. There's no interest unless you use it. There's potential tax benefits, and it's also a way to keep your personal credit reports safe from overspending, and you can use your business lines of credit and you go max those out because they won't report to your personal credit. And you're able to keep your personal credit pretty clean and also at a great debt to income ratio. And you're able to use your business credit and aggressive way whatever you like, without being significant penalized for it. When lenders look, get personal credit for other requirements, so access. In order to get a line of credit as a business on, you have to fight for them. Your credit report and relationship is key to getting these things approved. Getting a business line of credit is not very easy these days. Post 2008. The lending requirements of different regulations of different. So it's imperative that you have a good credit score 6 80 or better, preferably in this high 700 also have a great relationship with someone that can help you put your application together and also help you direct you to right lenders toe work with. Just because a person or lender send you an offer that you're pretty qualified doesn't necessarily mean that your Ashman qualified lenders change credit changes, requirements, changes and having somebody that you could work with who's a loan specialists is a great value. Add to your business and it saves you a lot of time. So the most important thing on a credit port is length of history and also having credit lines on your person. Report that you may have opened for yourself, such as personal credit cards from your bank or establishing personal credit or even installment loans. Have you paid off, such as a car loan or mortgage? The other variable is making sure you have the right partner. Tick improve. Many business owners are denied credit. Every single year, over 80% of business owners are denied credit, and 80% of is owners need credit. And the reason. Many business arms are denied credit because of credit and also not understanding the criteria or being conditioned to do what is necessary to get those funds. So here's in a sign. Is that what you do at the end this month? I want you list three ways. A lot of credit. Your business will positively impact your business. Also injured list three challenges you will face if you did not have access to a lot of credit, the present and future. Here's what I want you to mention. Imagine your business supplies of credit and you being able to have the freedom to hire new talent, being able to have a free in the SPAN operations, go out and make acquisition, increasing Brian exposure or even invest in new product. And all of our knowing you have a dependable source of working capital to suit your needs and goals as they change over time. So what's next? The next month, we're going to cover who could benefit the most from lines of credit. I want you to go over the Assignment. Lister Ways of my credit will impact your business positively and also list three challenges you will face if he did not have access to a lot of credit. 9. The Revolving line of credit: all right. So I just want to spend on the revolving line of credit and have that works with credit card. So you have the bank here, and you are the business owner. Awesome. SPF. So what happens is the bank will give you a line of credit once you meet the criteria in a form of either a credit card or a check. Okay, Now what happens is there is in line at the bank, Let's say for $10,000 you go as a business owner and use that to go make purchases for your business as you use the card or the checking line of credit, your drawing down the balance of what the Linus or say you go out and you make $5000 in purchases. The line is now gonna be 5000 rounds and available credit to use, but it has also $5000 balance that you just did by your purchases now, depending on the time. If it's a interest free period or if you have to pay interest, that interest will be do on the next billing cycle. So billing cycles happen every 30 days, so your bank there's a been cycle in the 15th of the month. In today's February 15th your bill for this $5000 balance, if not paid before uh, the March 15 will be do, and it will be a small interest charge based on the bound. So the revolving line of credit is very flexible because if you pay it off before the 15 for the due date, there's no interest that is charged on this $5000 this $5000 gets paid. And guess what? You free up your money, and now you have $10,000 left to do this with. So that is the benefits of using the credit lines because they're revolving. There is no set time when they close, like a loan or traditional mortgage. As you use it, you pay on what you use. If you don't use it, you still have it available to you whenever you want to. You 10. The Magic of Business Lines of Credit: the magic of business lines of credit. Back in the day, I used to love going. Imagine shows to see what the magician would do between pulling a rabbit out the hat, put us in a cage and making them disappear. Now the magic that I practiced today, I became a magician myself is helping businesses get access and lines of credit and financing because it's so hard for them to do it on their own. And imagine business line of credit is it does three things for you, and we're gonna go over this right now. One cost, the other is time. The other is driving profit driven. As a business owner, we have costs were in business for a reason. We're in the business of solve problems and solving those problems we can have cost. There's expenses such as rent. There is, Pero there's taxes. There is marketing, there is budgets. They're all types of costs now, the goal of a good businesses to turn our costs into revenue because if we can turn across in revenue, we can create a profit. But we also may run to this issue of time. You see, when we have cost of doing business. We have to go out, find deals. We have established relationships. We have to do shows we have the market. We have to buy things to make ourselves stand out in our marketplace or compete with our competition. But having credit allows you to take advantage of all three of these things by doing one thing. It allows you to maximize your opportunities. You see having excessive lines of credit allows you to go travel on. Using credit, allows you to go buy things. I have person power like that time freedom. It allows you to run your business very efficiently. So when you have those expenses, you can now focus on having new deals or less ships come in and play those costs, or to have those deals. Relationship not only pay for cause but to help you drive your revenue right. And with credit, you can take the time that you have to maximize relationships. Toe focus on starting in projects, expanding hiring people because once you know your numbers have your basic level, it that based costs. You can then create relationships to offset that by having new contract, you can then offset that by, uh, using the money that you're making your business to expand it, and you can also take credit and do the same thing. You might want to get there faster. You might want to slow pace it around and have a set monthly payment on the balance sheet to show that your business is healthy of managing cash flow about more efficiently versus relying relationship and clients who sometimes may have hard times, too, because they could be in business and they may run into a situation where they can't pay you. And with this opportunity that credit offers, you're able to also do one thing. You're able to also keep cash yourself also to maximize your working capital operating capital. Increase your return on investment With having credit, you're now able to pay for things that you may need to get done right away before you get paid, because obviously some businesses it may take 39 days before we get paid. So by having credit, were able to still functioning business while also being busy. Is it position to higher being position and best, and with the cash we have on our books or on a balance or in our bank account. We're able to then come up with strategies to maximize that and be in position to do even more things. So the magic of this is being able to maximise opportunity, being able to offset our costs, but also be in a position of maximize our time to increase revenue profit. If you want to follow a great blueprint, check out Apple. I'll post an article in the next section about how Apple has $500 billion in the bank that they don't even touch. And they just brought 20 billion up. Acquiring company mostly will say, Why would they borrow 20 billion arms when they have 500 billion? Quite simply there, focusing on being efficient and running a business that makes money not just today but for the future? You see, Apple realized that by borrowing money at a set rate or set around, time actually helps. Don't make more money versus depleting their cash and withdrawing it right down to at lower balance. When they can keep this growing and borrow credit, they can go out and make deals, take advantage of time and do new things employ this capital somewhere else to increase There are all right. So the next module you'll get access to the article on Apple and how they were in their business and how they use their cash. And I also show you all the benefits you get by using business lines of credit. 11. The Perfect Fit: the perfect fit. More than half of Americans owner work for a small business. In this lesson, we will cover what business owns, are the perfect fit for lines of credit and went to stop his relationships for your financing needs. When you get this, you will understand how to establish key financial relationships. Best time to establish lines of credit, as well as how to be more competitive in your market place by building a reserve. When you don't get this, you will lose competitiveness and your marketplace. It will be harder to establish vanish relationships when you need them, and also you may run into the potential negative impact of being unable to increase your reserves. So in this lesson, I'm going to show you who could benefit the most from business lines of credit and when is the best time to establish financing relationships. So the perfect fit, the perfect fit for business lines of credit, happens to be for companies who are established business owners and maybe looking to grow and increase their working capital. C Established business owners are usually pretty successful as faras, increasing revenue and a constantly growing in the remaining tow. Her Newtown. Using a business line of credit to increase working capital and be able to hire new talent or maybe look at contractors or looking consultant is a great way to keep your Operation capital intact and use your working capital to keep adding to that revenue stream. The next bit is for start. Start ups are a great fit for business lines of credit because thought apps are usually in the phase off searching for capital crying capital, and it may go through a time where they may not know all the expenses that they may have. And usually start ups are usually really hard to qualify for a loan because lenders want to see history, they want to see some type of established success, and as a startup, you're not likely to get a big long. So an alternative for that is a business line of credit and establishing multiple lines of credit. So as your startup gets off the ground, it grows and you have access to capital that you can use starting day one and use it to your benefit. The next benefit is for investors. Investors could be real estate. It could be a car wash franchises you name anyone s an investor is usually a person who has significant amounts of resource is or they have significant relationships, for they can tack on. Resource is certain things. Investors come across our deals and they need to act fast. But sometimes they may not have the catch. They may have their cash tied up in other ventures or other projects. So having a line of credit available to you or having it in your back pocket, as I call it, is a great tool toe. Have to replace the times when you need cash fast. And when you do get the cash, you have the cash to pay back the lines. But least you were able to secure the deal and not let a great deal slip between your hands . So business lines of credit help you take advantage of deals really, really fast. So this is also a good fit for freelancers or independent contracts. When you're working with a project and I used to work as a consultant, there's usually a gap between the work you do and the pain that actually get from a client , and nobody likes to go through when you work with the client was a relatively good client. Maybe is a bigger crime than what you're used to get that big payday. But it might take 90 days before you get paid and you still have bills during those 90 days . So you have to figure out how you're going to maintain your expenses, but also be in a position to take advantage of new projects and opportunities. Because, let's face it, you may not be working from home. You may have to travel to your work. You may have Teoh by certain things to get certain things going. You know, the saying is it takes money to make money. Well, you can use credit to make money and also keep yourself in a position to mitigate any cash flow problems that you may face from projects or from people who may have issues with payments. You never know what happens. Another favorite of mine, for perfect for this is digital market. If you're running a marketing strategy on Instagram Facebook and it's working for the next best thing is to scale it up, you need to put more money into it. So one of the key benefits is putting in credit card on file. You know, having a credit card and foul. Having multiple lines of credit allows you to scale different marketing strategies. It allows you to do things, maybe start new campaigns, reach out to new client, expand your brand by radio space by a billboard. You name it. Marketing is something that businesses need. And having access the lines of credit is a great tool to do that. We also have contractors such as truck drivers, owner operators, people who have contracts that they need to acquire and bid on to make money again. You're similar to the freelancers. If the contract doesn't pay out, run away or their takes time for you, consider the contract. There's government contracts that exists that take a very long time to fund. So you need to have something to close that gap and business line of credit. Do that last but not least, I like toe talk about partners. Partners are someone to investors. There's usually people in a business that may bought in together. If each individual partner has their own access to lines of credit, it makes it a strong case for the business. They can also get lots of credit for the business, and pretty much they may not use the lines of credit. They may just have it there as a reserve in case for what we call emergencies. But I like to call for myself emergency opportunities to where they can grow their business so they simply have reserves on hand to take advantage of new deals, new opportunities or maybe even take advantage of different mergers. So these are some of the perfect fits for business lines of credit. Now again, the best part about it is that you can use it any time out of all the people I just mentioned or the businesses or your business or yourself. Just imagine what you could do with a line of credit any time. It's like the best thing in the world is something you have in your back pocket, knowing that you can go into deals and meetings, negotiate and negotiate with confidence because you know you have the financial power to actually back it and get it done. It's nothing like get an opportunity come across your desk that you've been waiting for, and you're prepared to close it and you know you're gonna skyrocket your business from that point on. And lives of credit definitely help you do that. So get it when you don't need it. The best time to establish really shit for lines of credit is when you don't need it versus needing the money. See, lenders are in the business of making money, and they make money by lending the money to people that they feel is not a great risk. See, it's better to reverse engineer your needs as the borrower. So that way you can go to the lender with confidence and say, Hey, I had a great year last year. I want to be open another line of credit or I like, decrease my line of credit because I anticipate new growth and the lender is gonna come back and say, OK, let's look at what you have to offer. They may look at your credit report. They made a visual reference, and when they come back, they say, Well, Mr Business Owner or Mrs Vizner, we like what we see. We're going to give you an increase versus coming to a lender, saying, Hey, we're running through a situation where it's tight right now. We lost the contract our credit to the hit because we've got a judgment our partners found in bankruptcy. I learned it. Gonna look at that and say, Well, unfortunately, Mr or Mrs Business owner, I can't do anything with you not to say that there are other options around. But when you want something or you want something like a line of credit, which is very, very flexible, it could be an alternative to having cash in your pocket When you have your cash work before you make more money, you want to get this when you don't need it. So let's check out what tell me for. Teacher has to say who is the owner of the Houston Rockets and also a casino owner about credit someone for Tina, a billionaire, Tilman says. You want to get access to money when you don't need it, so you can have it when it's time to make dues. Tillman is every now building there and got its start in the restaurant industry by barring a couple $1000 against art, and since then he has been off to the races and is now one of the riches front owners in the history of the NBA. He bought the Rockets for a whopping 2.5 billion, which is the highest franchise purchase in sports history. So you don't have to listen to it for me. You might want listen to her from this guy, and when you think about it, he's saying something very unique. You think about it when recessions happen. Usually business go out of business. But if you have access to capital, you can make deals at bargain prices. You can go in and keep your business afloat, acquire new opportunities and begin again and be able tow. Act fast, because deals tend to be take advantage of by other people who noticed those deals and a definite taken by people who have the money to do it. So get your business line of credit. So here's how I want to do now. At the end of this module. Donald the resource for your Reference toe No. One is the best time to apply again. This is just a simple reference to no one to apply. Some of scenarios were perfect fit. Also, what you check out the article Park has it on. Tell me how he bought the rockets for over $2 billion. You'd be surprised how he went about getting that deal done. So what's next? And next month we will cover where to go. Were to establish right relationship for your lending needs. Also wants you to down the checklist and check out the article podcast on Tillman for teacher Thanks. 12. 1 Strike and Your Out: So in this lecture, we're gonna go over what business owners do wrong when they're trying for financing. So when it comes to planning as a small business owner, you have to understand that you are considered a risk and the lenders eyes. And unless you prove to be a person who's gonna make a great deal for the little talent, most business owners believe that they can go do this on their own. And reality is you can. But here's the scenario that you're gonna run into if you get it wrong the first time. There is no reading. Once you're denying your denied trying to get a reconsideration from a lender without any type of recourse to do so from other assets or other application instruments, it's going to put in a position where you're likely going to get a night by another, and that cycle trickles down, over and over again. And then it happened to your credit. When you get thing for that, for applying for credit and you have enquiries that don't show any new accounts, and now your score can drop down. So that's one problem. The second problem is leaving money on the table. Many business owners. We have a number in our mind of what we want to borrow, what we wanted to get, and we also oftentimes think of it was just going to get a loan. But when you get alone, there's a different cartoon, your process and underwriting process that's more strict things going to get a business line of credit. So when you're going to get a loan, the bank is looking at you and they want more information. They want to know more about your business and your financial taxes. And if you don't have this information, all your stuff recent did, because he may have with the recession, we just had a bad year. Bank is not gonna work, so we do that and the bank doesn't tell you, and you get thing for that for a pie for it. It goes back on your credit. So again you're leaving money on the table and you're not going to the right place to get the money. The other thing that I see spot Mrs always do. That's a big, big problem. A big no no is thinking that they can just only get a certain amount of money. So as a business owner, you should be thinking from this standpoint, when it comes to lines of credit, you want to get his many lines of credit and as much credit living as possible, because you never want to be in a situation where the one thing when you have that line of credit with close your line of credit because business goes bad or something happens in any company. In 2008 many banks pulled back lines of credit because they just ran too bad situations. And if you just have one line of credit with one limit, you're pretty much put yourself at odds are at risk of having that moment taken away from. So you want to be in a position where you could get you want to access credit with multiple credit limits as high as possible that you could qualify for so you can have the ability to have those lines in case one line goes down. For whatever reason, the bank this house to do that so there's something stakes are seat, and the next month we're going to show you how you can overcome that 13. The Right Partners: the right partners to control or be controlled. You may have never heard this before, but here's an alternate spin on debt that keeps you free and in control. When it comes to business, equity partners give up your control. It can be an expensive marriage that ends and a costly divorce. The challenge. Lending is the bed rock for a successful economy. That's why the industry has exploded with venture capitalists Ventak Lee, lenders, online banks and off time of Linda's for niche customers and even friends and family. It is imperative that you understand who you work with to get financing toe, help you kick off and grow your business. The stakes. When you get this, you would know what Linda and program is the best fit for you. Number two. You establish the right list ship with someone that really cares. And three, you have an awareness of new programs and opportunities to make financing easier without fear of rejection, Law states. When you don't get this, the wrong relationship of program can kill your business. It could be constantly rejected with decreased changes, the financing over time and most importantly, you'll be confused and frustrated so as your guy. I'm going to show you in this lesson what finance relations were best for small business owners that are established or looking to kick off their started. So traditional interest pros and cons, banks, banks are all around us. They have nice buildings, and they also have nice people with candy day. They're great for existing business. They offer you great rates if you qualify. The process can be read simply long, but more times than not, the bank is gonna deny more applications than it is going to approve. They also give limited reasons for disqualification, and oftentimes they don't have a pre qualification process without running your credit. Banks are heavily regulated, which is a good thing in some instances, and it can also be of acne. They also can be highly collateral driven, which is not necessarily good about it. Just depends on your situation and meat. And all times banks are not very transparent and how they've deriving their decisions and their oftentimes leaving you hanging in the dark without any awareness of what you can do to get approved in the future. Banks are not good for startups. Banks do not like startups because banks like to see establish history. So crediting credit ratings are a little bit better for startups, depending on the circumstances. What industry and what they like to see credit use a little bit lenient than MAWR national banks. They were great for existing businesses using credit unions have a membership based programs. I want to remember your end, and they tend to offer members very special programs or rates. However, you must be a member. If you're unable to be a member, he won't be able to take advantage of what they have to offer. They can also have a long process. They have also beat no profile, pre qualification process. They can be regulations around. Their lending can also be collateral driven, and they're not very transparent and helping you once you're rejected to get to a better position. Lastly, community banks, community banks is a smaller break relationship. They're heavily really ship driven programs. They have limited program for businesses. They're not usually how the capital ass they could be collateral driven. And again, they're not as transparent as you will see related to other alternatives. Government programs great right. The government has programs to fund small biz owners. Awesome. The reality is that government programs using consist of grants, and it's also known as an S B A loan program. Grants are usually great for startups, but you must qualifier meet the criteria. Thes grant process can take it very long time could be a very lengthy application process and can also be very expensive for you because you may not have the time to wait. You're gonna have the resource is to continue with supplying certain information or even have collateral that they may be looking for. They do not offer lines of credit. They're not very transparent. Another think about government programs is that if you ever default on student loans, you have Elaine judgment or anything negative or derogatory. In your credit report, you're automatically disqualified. So you're gonna be limited there unless you have ah, partner who is pretty clean, who has a clean a credit port with better history. But if you have any negatives, you're pretty much disqualified. The S V a program Great. Four franchises really going to do a startup franchise or by one existing businesses. There's a missive programs for different uses, such as real estate or trying new businesses. Long process requirements can be unclear at times. Time and business is crucial. It is collateral driven because the government's going to back the loan. Once you put up something like your house, SB eight does. The government does not offer Liza credit and all times it's not a very transparent process once you get involved. So on Islanders, pros and cons online deserve Linda. Such is the Prosper Lending Club LendingTree upstart. Uh, you know so far, except they're great for start ups and business owners. The they have very fast and efficient processes. If you qualify, they do have a pre qualified process where they let you know without running your credit getting angry, which causes the negative impact if you qualify. Um, however, there is limited customer service. One deny for alone. They don't really have a plan of action to help you qualify in the future. Once you are proved, it can be a lengthy process to get the funds that minister to you. Because again, these places are usually lenders who are private people, so they have to allocate funds. There could be some technical issues with that sometime or could take a long time to funding alone. Um, you also may face per customer service. Want no direct contact that work with overtime for you need so you get along today. Pay off that loan. You may not be working with someone later to help you get another long. So there's situations where people get along one year in the next year. They may think you're a bigger risk that you were last year, even though you paid off alone because they're out of rhythm changes. And it's not very people friendly or story from, um, again, all Islanders did not often lies of credit, and they usually don't have a very transparent process. Brunch capital. Everybody know Vision Capital is on shark tank. However, most businesses are not funded like shark Tank would have you believe, but Reggie Kabul is great for startups. It can also be a great fit for existing businesses that, looking to grow, get a big investor in that kind of do certain things. It's an equity based set up to where you have to sell a portion of your company in exchange for capital or maybe resource or relationships. It's great for start ups. It could be good for assistant. Is that looking a merger or looking and make some acquisitions in the future? It could be costly in the long run. Um, instead of own banks, you technically kind of old your investors by performing, not necessarily saying you have to pay them or the obviously investors taking a risk. But think about servicing alone with a bank, and you have a monthly payment versus every three months. You know, if you're not hitting certain targets that are set investors not, you know, being uh, very aware of that, or careful or carrying of your situation. Usually, when you give up shares of your company, you may lose power to control trick doing, and you may not be ableto keep control of the record of your company. But that's something you have to do your due diligence on when you work with investors. I'm not saying it's a bad thing, but it's just something to be mindful of. They can also be some fun restrictions on what the investor is looking to do with the funds . What you're getting your company, um, they can also be a situation where if you want to get out from an investor that turns out to be bad in the future. It can be very difficult. You can also have some legal costs with that, and sometimes they're gonna be some little transparency once you so a portion of the company to others. And they may be working on deals to get you out. So just be mindful of those things. But it comes average capital again. It's not too scary away from it. It's just some things with my full of and be aware off. They could be a great relationship if it's a great fit. And it can also be, uh, not a great fit if people just happen to change and not be the best fit, as you thought over time. Another unique lender is what I like to call the our turn of living space. These are usually lenders that most people don't hear about, but they do exist. They're out here for specific business owners of specific programs unique to your needs. They're usually specialized programs. Four business owners or commercial financing. Um, turn of lenders usually have business loan specialists that work with you to help you understand the program they really help you understand what the criteria is to get approved and usually alternative lenders have in house underwriting teams and lenders toe actually pretty qualify you without running your credit. They can look at your credit report and simply tell you if you're gonna be a fit or not, and it allows you to save a lot of time and also put you in position to help you get funding in the future. There is also when you work with certain business loan specials thin alternately space, so your application cause deny for whatever reason, it beginning that maybe a identity problem or some other issues that may have been over. Look, there is possibility to come back and get your application overturned based on certain linda requirements or condition of standards. Usually there's multiple programs of businesses with good credit. There's also multiple programs, visit no credit and also business. If it's bad credit. And if you're looking to do a start up, um, I believe they are turning wind space has a superior customer service because they have dedicated teams to help serve your needs and their toe work with you today and in the future so that all the ones I just named well, you think the awesome. If it will be, well, it's really unique to your needs and goes. The banks could be beneficial for a low rate, long term loan if you get approved. They also benefit with working with credit ratings online lenders sometime. If you can't get approved somewhere else, equity could be a great move as well. But again, I like the all time of living space and as a small business owner myself, downturn in space has been very great to me and working in our time we've been in space, I've been able to help other small business owners understand the climate, understand what their needs are understanding and financing and put them on the right plan when they're not in the right position, but to get them there. And if they are the right position where it would help them right away. And they like how the services and I like how much time we say that, and we help them understand that credit as well. So out of all in his mission, I think the are tired of lending has the uniqueness of having it business. Funny specialists. They're very transparent. It would've worked with a team by underwriters. You get unique insights to what you need to do to get approved, and you have accurate information of our programs that fit you. And also you get updates on programs that fit you over time, and you can take advantage of those so of our turn of land. You get the inside scoop on what programs are lending. You find out what other banks within our turn lend their space that they have relationships with. You can find out what they're looking for. So say you go to a bank. Your deny You go through our turn of lender who can to make application on your behalf to that same bank and actually get an approval because of the relationship that the art of lender has to that baby. There's promo programs that's not advertised to the public that are Tim of limits. Have access to this direct access to lenders and underwriters. You have ability overturned, deny applications. There's fast approvals and it's accurate pre qualifications and simple and transparent criteria to get approved. So assignment, I want to go check out the article in park has a little on 10 of lending and how having it business funding specialists can help you so trusted results. Imagine, have a dedicated team of funding specialists or all time limits to compliment you on your business Selves, team marketing team or product or service teams to help you get the finance you need to continue to grow or to continue to perform at an optimal level. Or imagine ability to having freedom to where you may send a rule of equity partners and you hear a good deal. But there you go to our tenant lender and find out what some of the programs they have available to get you financing to. Still keep control of your business and re negotiate that with those equity partners to negotiate either lower by and rates or lower control of the business. So with our 10 of lenders, or having access to that, imagine how fast you can grow, how you can scale and how you can take advantage of this and what impact this will have in your client. So what's next? And the next lesson? We will cover case studies on how business owners and different industries used a lot of credit will also go on assignment. You want you to go over to Simon on the article and Park has on working with alternative lenders. Thanks. 14. The Truth About Banks: all right, So let's go over the truth about banks and this little screenshot that are true. Please don't judge me for my artistic skills. I wanted to just give a friend work of how the banking and lending process works. See at the top of all of this, we have the government rules. The government makes restrictions and rules around lending and laws of what's permissible, what's not permissible. But the credit markets are technically always available, but you have to go through its gatekeepers, such as the banks and credit assures, as well as other institutions to get access to it. So you have to have, like, a key, and that's a small business owner. Your talk to just go to the bank. Your talk to just go here, talk to the bankers, see if you can get something done. So that way you can get the financing for your company. Now his was. You have to know when it comes to banks, banks are made up of bankers, lenders, underwriters and other people to help the banks operate. The bank technically doesn't have its own money. It's using the depositors money and based on the regulations of the government has to have a certain amount on deposit, so the bank is technically lending out, is deposit in his reserves in exchange to make a spread and have deals for its shareholders . The thing about a bank is the bank conditions, the people who work for the bank to seek out and qualify deals that the bank can lend to in a low risk fashion. If there's a higher risk fashion. That bank usually charged a higher interest rate for that situation. And as a small business owner to the bank size, you are a risk. Why are you a risk to this banks? Because you're technically doing something that is not necessarily proving in the bank size . If you were to come in and you were a W two employees and work for another corporation that's been in business for a long time. Technically the bank is looking at you and thinking that you're not as much of every side of small pissed owner because one they know that you work for someone else. They know that you have deputy on coming. You get paid twice a month, and they also know that you're likely going to be at that job for a very long time. Off already happened at their job for a very long time. In business banks? No, just like any other business that businesses change. You can be out of business. You may not make money every single two weeks, or you may not make money at all. Over a certain amount of time into the bank can allow that to happen, and that pretty much cross out the deals. But the banks are not necessary working for you. The banks are working for their shareholders and the other person that they working for the government and the government gives the rules to a bank basic saying that letting the small businesses is a lot riskier and it's more of a challenge or is more costing from a regulatory standpoint. Toe have those, uh, loans made. The bank is not going to want to work with you. They're gonna x you out, Okay. And instead, they're gonna work. Focus on what the rules, what they could do within those rules and how they can please their shareholders because the shareholders are looking to make money. So what happens is you get ext out you don't get access to credit, and then you're into a situation where you're frustrated, confused, and you're just simply looking to have help and it sucked. So what the bank would do also is if they do approve you, they may look to sell your loan or sell your application toe a credit issue and have that credit issue or issue the loan to you on behalf of the bank. So the bank is almost like the middleman in a way. And instead of you going straight to the source, you're going through a bank who screen you and could deny you for multiple reasons of criteria that they have. And then you don't even get access to the credit because as the credit issuers they're looking for, they're saying things that the banks are looking for. But primarily they're looking for security and offering the financing to and as a small business owner. When you go to another bank and you try to apply for funding or another credit union, you're thinking you're going to get approved. But reality is this bank may be working with the same credit issuers well, and now you're into a situation where you're thinking you're getting in a better deal by going somewhere else, and you're really ending up in the same cycle. Okay, so just to make this cleaner or wrap it up, you're a small business owner. You need financing, you go to a bank. What you realize as we just told you, the bank works for the government and shareholders. First, banks must follow the rules or they had to face hefty fines and they must please their share voters. The other thing you're going to run into is the credit issue. The bank is not always the credit issue. They may be working with another company to issue you credit. And if that is the case, if you go to multiple banks should try to get financing. You may be ending up in the same credit issue. When it comes to business financing. Business credit. 60% of business credit is financed by one credit issue, right? One financial services company. Okay, the bank is in the business of also I have sources well, because it's cheaper and they also get a better return on their dollars spent for their shareholders. So when you do this and you get denied. You're more than likely will go to this bank to try to get approval or another bank, and you're still ending up back here. But once you deny, once this will also close you off and you'll be denied again. So this is how the truth of banking worked out, how credit worked. And you must taken proactive but strategic approach to doing this. And you must have yourself together and also understand that the banks are not necessarily your best friend when lending, although you may have a relationship with them. And although you may have money in the bank, so I posted and in this module some articles to show you how banks treats clients. We even have several millions of dollars in accounts, 700,000 been business with them for 20 years and how the banks still deny them. And you understand how this whole thing works and what you need to do to get yourself in position to get funding 15. Keep Your Nude Selfies To Yourself: all right. And it's like I'm gonna give you the three things you need, plus your card report to help you get access to these lines. So no more thing you need is confidence. Most business owners who have great credit who been in the past and I have self doubt they're not very confident about going to a private banks. And I don't blame you and there's an alternate for that. I'll get to that in a second, so we want to be confident about it. We want to make sure that we're being positive about our ability to secure financing despite the negative experiences may have had in the past. The second thing you're gonna need is knowledge. You want to know what programs to apply for what banks to go work with, what lenders to go work with to get this happened. Because if you go to the wrong lender and they deny you, it can close you off from other lenders, here's why. In the banking industry you have the front which the brick and mortar banks, the people you go see. But on the back end, the bank may have issuers from other credit issuers are other companies who actually issued credit. So think of the bank as the middleman toe actually going to the direct source. And if you're denied for whatever reason, it could be an identity issue. It could be an address. It could be just wrong. Numbers on application. It can close you off. We're going to the next making going. Apply because the next bank may go to the same issue as the other big. So what you want to do is you want to work with someone who's knowledgeable, how the process works. It's increase your chances of getting proof. The next thing you want to do is you want to get drink qualified. You don't want to go into a situation just simply rolling the dice. Just simply pull on this lever on the slot machine, hoping the jackpot shows up. You want to stack the odds of success in the beginning, and, honestly, thanks don't offer this service, but you'll learn soon in my business as a financial consultant. How this service can help us business and pretty qualification is simply a process of looking at your credit, examining where areas will disqualify you if there aren't any and also to look at areas that will qualify. You make sure those things stand out first. Barry's that would disqualify. We also want to make sure your information is very accurate. Most loans of denying gravitation not because there's inaccurate information from addresses to name, date of birth or something so minor has nothing to do with your credit history or bad credit for anything is really just based off. Can the lender find you in case things go back? So you have these three things in place and working with the right person, especially financial consultant, you stack the odds in your favor to get access lines of credit very, very fast. 16. Limitless Success: okay, so overcoming the challenges that you face when you're going to finance on your own, So the best thing you can do when it comes to getting financing is to work with someone who has experience as a financing expert. Don't limit yourself to going to the bank because you're only limiting yourself to what that bank has to offer When you work with someone who's an expert who can understand your goals, your industry, yours too sick situation, they can then come up with a plane, a few to go. Execute that amongst multiple multiple lenders to get you better. Odds of getting fine it They can also help you a pair of those programs with other programs . So that way you can get higher mountain of their type of financing time. For example, my recent work for the company was in construction and they needed lines of credit. Way were able to see that their business is doing very well. They had a good period, but we also know in construction that there's times of the year where season comes in and affects the business when you have a cash crunch. So one of the scenarios we came up with to solving that problem for them was one wanted to get in lines of credit so they can have always available to them in case they went through a crash crunch Way also looked into getting the equipment leasing long for them. So that way they can have the equipment on hand when contracts France during the summertime , when building really takes off and then the third thing we look that was also getting them term loans. So that way they can have cheap capital to deploy over the course of a year to help pay for new hire employees when those contracts do come. So instead of just going in thinking the business just wanted a loan, we were able to get them. Three different types of products of financing toe help soft three different problems that they run into, which is a cash flow crunch problem during the winter, the ramp up period during the summertime, when they need more equipment, and also when we need to hire more people toe have people to run that equipment. So instead of going to the bank, the bank words gonna do two out of three. The bank was definitely not gonna do an equipment loan. Banks don't do that. Banks also don't do working capital loans either. And also, third banks don't like construction companies, so just gonna happen for anyone in any industry. But when you understand that you're working with the right financing consultant such as myself, you understand how you can pivot and position yourself to get yourself position to maximize your financing for your business and kick off your startup business to left. 17. Case Studies: case studies. So without further ado, let's get started. I know you guys want to see some examples of how this work for the businesses, and here's what I've been able to help other businesses do. So let's check it out. Case Study Number one real estate investor was currently fully invested in neither close on a new real estate deal fast, so he was able to get access to his business line of credit and used on access. Check toe. Write a check to the seller for $50,000 to close before hit the market. No lines of credit come with access checks. Sorry and banks offer those. You can withdraw the funds off the car and use that as instead of having cash and use that to replace cash or put you in position to close on a defects. And as you see, this real estate investor did that they sent him to bakery owner, needed new equipment and was sponsoring a market of it. They already had operation spaces and wrecked, such as overhead payroll and other expenses. It worked with the turn of lender to secure business lines of credit to make it 20 k deposit and acquire the equipment for the event. This person was able to get funding in amounts of $120,000 in multiple business lines of credit. Case that M three Tech started was going through mortar rounds of equity fund but neither proof of concept of picture investors but was running low on cash. The proof of concept was $100,000. To get done, they worked with the business funding specialists to secure multiple lines of credit and security over 200 K and multiple lines to get their proof of concept. Started to help them go on their trail to becoming their own started case that before digit market age, they will increase their marketing efforts. And the firm had four partners but needed to grow. They worked with the business phone. Especialistas curve multiple lines of credit for marketing purposes. They secured over 150 came business funding for each partner was a total of 600 k So in this case study here, they had their own company together. But because each partner had relatively good credit, they were able to create other businesses and get multiple lines of credit on those business well to get access to multiple amounts of funding. And they were then using that money to pour back into their main business, helping grow scale and hire more people. Case Study number five Oh artery Self employed truck. This truck driver had a new contract that he was security, and he needed to get four trucks on the road in each needed a new driver. So he went to the bank and the bank looked at him pretty much turned down. The baby turned him down because banks don't like working with banks. Don't like working with the industry of transportation per se because there could be a high overhead costs because trucks tend to have a lot of expenses. So this operating to move fast. He came to us with his, uh, story, and he told about his contract. We were secured over three and 35 K and missiles credits. What was personal credit? So his situation, because he had good credit, we were getting business lines. What is personal lines just so he can skill up his business credit by having more personalized credit cause in the future, when banks or other learns pull his personal credit. They just want to see that he's been able to manage these lines. And with his four trucks, he has a cash flow. So in the future of pretty sure, he's gonna be able to walk into any bank or any lender and be ableto get some access to funds or loans. And maybe you're starting a company case. I'm six freelancers. This person need a line of credit. Also expenses In between contract players, they were looking for 30 K and they work for the best specialists to get. Some funding is secured over 50 cane lines of credit in the business. And they were able to use that to hope, cover any gaps in their working capital or to covering the gaps that clients were paying when they didn't pay on time or when they need to travel to different events and by different event collateral. So these are just some cases of clients that I have worked with in Plast as a business long specialist. There's no situation too big to smaller credit can be used, it is very flexible and it's one of the lifesavers of businesses and is one of the older strategies used to become a successful, profitable business. The key is understanding your options and how to use your credit lines effectively. You can also combine business credit lines with personal parent lines to secure higher amounts of funding. So we're now you know, only having business lines of credit and also personalized credit. You can also use other businesses and use personal personal credit to help open up new lines of credit. Your business, because your credit report is very strong or other businesses have a great revenue. Any decided to open other departments and use one department's cash flow to open another to get those lines of credit. So that little bit more events for this course, But yeah. So here's this. Imagine yourself on top of your business on top of your game and having lives of creditors supposed murder situations, cash flow changes or didn't just expand and grow. Make no investment lines of credit, pushing position toe float to your next opportunity and be in position. This thing like a be like the great Mohammed Ali used to say. So here's what I want to do next, and the next month I put together a recap of all the lessons. So that way you can have it and also put together a little downloadable attachment to give you a framework to work with them. So that way you can have an actual disposal and know what options make sense for you. What you should know about banks, certain things you should consider and also how you can save time by just simply understanding what's your credit means. A credit report and also show you even go get access to that as well. So thank you, and I see you next month. 18. Recap: everybody's this here. Just want to say thank you for completing the course. It has been a are to be your teacher and has also been armed to be a student and learn from each and every one of you. I'm glad you've been able to find value in this course. There will be new courses coming in the near future. I look forward to working with you and teaching on also learning. So just a quick recap about the business line of credit program and how it can kick off your startup as well as your existing business. Financing is always around us. Having a plan for financing is a great strategy when should get into business to prolong your marketing, to provoking product as well as your customer acquisition. So financing isn't just having credit is also in your revenues. Also in your client is also how you approach your business. From a mental standpoint, remember, this journey is a long journey. You're going to face many challenges along the way, challenges there to get you off your game, but also challenges to make you strong, and all it takes is just a re friend of mine from one mindset toe annexing, creating new positive thoughts. And we can have a new positive reality once again. Thank you for under enjoying the course, taking the course, I look forward to hearing from each and every one of you and have a good day.