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Let‘s continue our discussion about the 5 C’s of credit with collateral and capital.
Collateral relates to the assets (secondary source of payment) you have to cover your loan in case the business does not generate enough cash flow for repayment. I…
Profile Information
- About Me:
- I am a somewhat recent MBA graduate(June 2007) with a concentration in Finance from the Keller Graduate School of Management. My wife is a real estate broker w/Keystone and also operates a small real estate firm called Infinity Realty. I enjoy extending a helping hand when needed and I believe I am getting addicted to playing golf.
- What is your business passion?
- My passion is to serve others. I really enjoy helping others and being a conduit for solutions. If you are reviewing my info and If I can be of assistance to you please don’t hesitate to contact me. If I can't help I may know someone in my circle of friends who can.
- What makes my business unique?
- Starting Point Financial adds value by providing you a pathway to:
-Improve your cash position
-Increase your production and sales
-Purchase necessary equipment or inventory
-Fulfill payroll and tax obligations
-Take advantage of trade discounts or discounts offered by your suppliers for early payment.
This is done without creating additional debt unlike a traditional bank loan.
- What business opportunities are you looking for?
- Starting Point Financial can be a benefit to your company if you make or sell a product or deliver a service to a creditworthy commercial customer on terms. In addition, you could be in the early stages of business, a high growth company, a company that is undercapitalized or a company that has tax liens and in a turnaround situation.
- My Big Business Idea is:
- To uplift companies by educating them about alternative financing solutions and assist them with increasing their cash flow and growing their business.
- Tell Me Something That I Don't Know (Business Prediction or Fact based on Your Experience & Expertise)
- Factoring, one of the financial tools we make available to small/medium sized businesses is very different than traditional bank financing.
Below are the normal bank requirements for financing:
• Minimum 3-5 years in business.
• 2-3 years of positive cash flow.
• Available assets at least equal to the loan amount.
• Available personal assets equal to the loan amount.
• Clean and strong credit history.
Here is how factoring differs from traditional bank financing:
• No lengthy applications.
• Short approval process.
• Short or long term programs available.
• No compensating balances required.
• Your credit line grows with your business.
• New companies are acceptable. Credit problems ok.
• Cash in 48 hours or less.
• Approval based on the credit quality of your accounts, not you.
- The Key To Business Success Is:
- Passion, Perseverance and the ability to Serve
- Favorite Case Study: (Please describe the industry, problem, your solution & the results)
- The industry:
IT/Technology
The problem:
A high tech firm with good sales and service began experiencing a cash flow shortage. Bad debt and outstanding receivables (DSO – day sales are outstanding) were over 100 days. Millions of dollars in disputed invoices were being lost annually, not due to customer complaints but due to the age of the outstanding invoices. Additionally, the company’s stock price took a large hit due to the high DSO as stock market analysts predicted that the high DSO was because their products did not work and they were not being paid or that the products were delivered on a trial basis and not true receivables.
The Solution:
Over an 18 month period, the high tech firm hired a factoring company to manage its accounts receivables. The factoring company took over the entire department and increased the firm’s cash flow resulting in increased profitability, stock price and diminished bad debt. Analysts viewed the decreased DOS as a sign of product acceptance in the marketplace and the increased cash on hand allowed the firm to decrease their bad debt. Additionally, the firm greatly decreased their disputed invoices in turn increasing their total profitability.
- Lessons Learned:
- To pursue your dreams and strive to make you vision a reality at all cost in spite of roadblocks and setbacks. I have realized that this will always be a part of your growth and development as an entrepreneur.
- My Special Offer:
- I will provide a free consultation and anaylsis for anyone that mentions the "Passionate Entrepreneur".
- Best way to connect with me is:
- I can be reached toll free at 1-888-722-6292 or by e-mail at klspf@consultant.com.
- A good lead for me is:
- 1. Owns a small to medium business--$200,000 to $5,000,000 annually.
2. Sells to other creditworthy businesses and offer terms.
3. Has a short term cash flow problem.
4. Is in a rapid growth mode.
5. Needs growth capital.
6. Has been denied funds by a bank.
7. Has turned away orders because of a lack of funds.
- Company Website:
- http://www.startingpointfinancial.biz
- Favorite Website:
- http://www.profitablegrowth.info
- Favorite Book or Books:
- Lifeblood - Sam Frowine
Leadership 101 - John C. Maxwell
Developing the Leader Within You - John C. Maxwell
Think and Grow Rich: A Black Choice - Dennis Kimbro
The Success Principles - Jack Canfield
- Favorite Music:
- Neo Soul, Hip Hop, Gospel, Reggae
- Favorite Movie or Movies that inspire you:
- Jerry Maguire
The Negotiator
The Rainmaker
- Favorite TV Shows:
- This show is no longer on but it was a big mistake to take it off the air:
"Kevin Hill"
- Current and Past Associations and Organizations:
- Association of Professionals in Business Management
The National Black MBA Association
Phi Beta Sigma, Inc.
- Hometown:
- Oxford, NC
- University or College Attended:
- Keller Graduate School of Management, N.C. A&T State University
Keith Lloyd's Blog
5 C's of Credit - Collateral & Capital
Let‘s continue our discussion about the 5 C’s of credit with collateral and capital.
Collateral relates to the assets (secondary source of payment) you have to cover your loan in case the business does not generate enough cash flow for repayment. If this situation occurs the banker will liquidate your assets and use the proceeds to cover the loan. Examples of collateral are inventory, equipment, real estate and accounts receivable.
When your banker examines your capital they are trying to iden… Continue
Collateral relates to the assets (secondary source of payment) you have to cover your loan in case the business does not generate enough cash flow for repayment. If this situation occurs the banker will liquidate your assets and use the proceeds to cover the loan. Examples of collateral are inventory, equipment, real estate and accounts receivable.
When your banker examines your capital they are trying to iden… Continue
Posted on December 13, 2009 at 11:23pm —
Capacity - 5 C's of Credit - #1
Good Evening Everybody! I would like to expand on the 5 C’s of Credit. Capacity (cash flow) is your ability to repay a business loan. Your banker wants to be certain that the business has enough cash flow coming in the business to cover the payments of the debt you are requesting. One of the most common formulas used in the evaluation is DSCR. DSCR is debt service coverage ratio. This formula tells your banker if you have enough cash to cover your current debt obligations plus the loan you are r… Continue
Posted on December 6, 2009 at 9:09pm —
The 5 C's of Credit
If you are in search of additional financing your banker will be focusing on 5 key areas.
Capacity – Your future ability to repay the obligation
Collateral – Assets that can be offered as a second source of repayment
Capital – The amount of money that you “the business owner” have at risk
Character – Your credit history and an assessment of your trustworthiness
Condition – Current evaluation of the risk surrounding your business and industry
Each criterion above will be used to determine i… Continue
Capacity – Your future ability to repay the obligation
Collateral – Assets that can be offered as a second source of repayment
Capital – The amount of money that you “the business owner” have at risk
Character – Your credit history and an assessment of your trustworthiness
Condition – Current evaluation of the risk surrounding your business and industry
Each criterion above will be used to determine i… Continue
Posted on December 6, 2009 at 9:08pm —
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© 2009 Created by Kenneth Darryl Brown on Ning. Create a Ning Network!
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THIS REALLY WORKS! I RECEIVE MONEY DAILY IN MY ACCOUNTS!
Sometimes something great is right before our eyes, but for whatever reason, we just don't see it. Before I joined I did lots of research and discovered that this is a very solid company, with a solid business plan and a great comp plan too.
You don't find very many of these around today.
So, please, take a few minutes and watch the video and take the tour today.
When you come in today, I will pay your way in to Level 1 and you will be able to leverage your way into a $10,000+ income month after month.
I'm looking forward to seeing that you have taken the tour and I'm ready to help you build your business.
JUST CLICK HERE NOW TO TAKE THE FREE TOUR NOW!
Standing by,
Mike Wyatt
Internet Marketer & Success Coach
** BONUS** Take the tour and I will sent you a FREE copy of the ebook I use for building my list.
Let me know how I can help and support you and your business! I am excited to have you join our business network!
Please join us on our Tuesday MBC Connect ONLINE networking sessions. Here is a link to our last session: MBC Connect March 9th 2009
Let me know if you are interested in joining us!
MBC also has a online radio business show on Fridays at 9am. It is called E3C: The Passionate Entrepreneur. Here is a link to our last show: What Is Your Best Sales Tip!
We look forward to your active participation and contribution to our Tuesday online networking sessions and E3C: The Passionate Entrepreneur radio shows!
Sincerely,
Kenneth