247 - Access to Cash: What Are Your Options? with Luke Boyenger
Manage episode 471243581 series 2954305
Luke Boyenger, Expert Fractional CFO, joins Martin & Khalil to discuss cash efficiency, the smart use of lines of credit, SBA loans, building strong banking relationships, and more!
Time Stamps
- 01:54 - Episode & Guest Intro
- 02:08 - Exploring AI in Financial Analysis
- 05:53 - Cash Series Recap
- 07:11 - Building and Managing Bank Relationships
- 14:33 - Understanding Line of Credit
- 20:29 - Navigating SBA Loans
- 25:18 - Treasury Management
- 28:30 - HELOC Loan
- 31:25 - Identifying Red Flags in Your Business Model
- 32:50 - Maximizing Cash Efficiency
- 36:19 - Common Cash Leaks and How to Fix Them
- 38:50 - Maintaining Healthy Cash Reserves
- 50:35 - Episode Outro
Snippets from the Episode
- There's just this misconception in the business world that it's not possible to feel comfortable - bull crap. That is not the way business is supposed to work.
- If you're going to go into business, don't put your personal financial health at risk. Have the intellectual honesty to admit to yourself that if a bank or even a third party lender will not give you SBA funding for your business, that's kind of a red flag that maybe this isn't the business you should even be pursuing in the first place.
- You do not have to fly blind. You do not have to trust your gut. You can run a data-driven business.
Resources
- 24 Things Construction Business Owners Need to Successfully Hire & Train an Executive Assistant
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- Need Help with podcast production? We recommend Demandcast
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