Something to consider
It happens not that often, but it happens often enough.
Last year in June, on a Thursday afternoon I had a phone call from a fellow in Texas, who wanted $3 Million line of credit, asked me about what kind of papers he would need to bring.
I sent him the application and the list of documents by e mail. He called back in couple of minutes and asked me what time Monday morning I would be in the office, and said he will have all the papers and meet me then.
Over the passed 34 years I have heard such statements, so I didn't say anything to him, then forgot about it by Friday morning.
Monday morning I was 10 minutes late coming to the office. There was a fellow with a cowboy hat and boots in front of the door with 2 boxes of papers with a coffee in his hand and he said "you are late."
That day together we sorted, copied, stapled, prepared his package, did all the calculations and underwriting and by 3 PM shipped the package out for funding.
He stayed in a motel close to us, but spent the next 6 days site seeing and staying in touch with his cell phone. We had a loan approval by Wednesday, funding on Friday, and escrow closed with his check in his hand the following Monday when he left on the 6 PM flight to Dallas. All together 6 working days.
At any given day there are millions of loan packages flying all over this continent trying to find a place to land. The ones who have completed package and ready, find what they want, and go on making their projects work and generate income. Others keep flying until they run out of gas and crash. A 50 year old has much less time than the one who is 30 years old to see the fruits of his work.
Figures in a loan package are only valid if they can be updated constantly, in most cases every 30 days. While looking for the best deal or piece meal lenders with bits of information to complete a package causes frustration and loan decline, and most people miss out on income/profits, which they could have made, a loss which needs to be recovered, maybe in the near future or never. To look for a better deal, they are forced to update all figures constantly which cost additional time and money, lost revenue thus no savings.
If you are ready to do it now, let us get on with it. I can guarantee you nothing is going to get any cheaper in the future than it is today, machinery, labor, utilities, interest rate, or cost of doing business. You don't have to take my word for it, just wait and see
Here is an example a VW bug in 1970 was $2,500 today its $25,000, gasoline was 24 cent a gallon, now is $2.40.
Business Management Consulting:
Cost savings, efficiency, controls, accountability, bankruptcy or layoff, complete turn around, organizational structure, forecasting discipline.
Business Finance Consulting:
DIP Chapter 11, Line of Credit, equipment financing, invoice factoring, purchase order financing. Mergers & Acquisitions funding.
Loan packaging so you will succeed in getting what you want.
Accounting Management Consulting:
Accounting software sales, training, transfer of old to new, custom report generation and programming on all platforms.
Flat fee installation and complete guaranteed satisfaction. Quick Books, Business Vision, MASS90
|