Two million small businesses in the US share one common denominator ; over the life of the business they will need to seek capital for growth. Nearly 67% of all businesses, regardless of size, borrow money from traditional sources, such as banks. In addition to his role as “Coach to The Best” and bank financing advisor, he is an expert on positioning business for resale.
Rich helps business owners maximize their exit strategies and make the best possible acquisitions for growth.
Since his first small business loan, Rich and his team have helped over 50 companies “wow” banks and exceed their expectations in obtaining the best possible terms, interest rate, size of loan, deal structure, and covenants. Using his 14-point process, tutelage, and guidance, Rich’s clients obtain more money, with better terms, and less restrictive covenants.
He has a near 100% success rate in acquiring capital. Why? Not to brag (well, maybe a little) but he knows what he’s doing. He knows what it takes to make banks compete and say yes. The loan packages he helps create have all the required financial documents, background information on the industry, company, and key personnel, as well as a marketing plan, and the critically important financial projections that help banks get to yes.
Although access to capital can be the key to operating and growing a successful company, securing it can be intimidating and unnecessarily difficult. Most companies only shop one bank and settle for the first offer they receive. Banks know this, and often play takeaway with their initial term sheet and their final commitment letter. By shopping 10 banks you keep banks honest and competitive. A bank that wants your business will compete for it. This increases the odds and the speed of securing a loan that meets YOUR company’s needs.
The simple equation for success in acquiring capital is a great loan package and oral presentation. A great loan package serves as an ongoing “financial Swiss Army knife” and a valuable tool for growing your business. It can also “sell” and inspire company stakeholders, including bankers, strategic partners, vendors, current and potential advisory board members, employees and recruits in the future. The right loan package will clearly outline your company’s future plans, current status and history, as well as potential business challenges, opportunities and tactics. Rich’s clients tell him that the greatest value they receive, even more than acquiring necessary capital, is a clear strategic action plan that spells out the steps, capital, timelines, and resources needed to achieve their goals.
Rich’s clients range across all industries from high-tech to brick and mortar to manufacturing. He has the ability to present a solid case for funding high growth companies and well-established companies wanting to “take it to the next level.”