In this “Love ‘n Business” episode – one of the most valuable for aspiring small business owners – you’ll get insight on how to secure an SBA loan. Mick and Britt Arnold brought in a special guest, M&T Bank Regional President, Augie Chiasera, to get the skinny on what banks are looking for in a startup.
You’ll hear:
- Brit Arnold’s experience partnering with M&T Bank.
- Augie gives his fascinating personal journey to a career in banking before turning back to the basics…
- Augie explains that you need to be able to communicate the following:
- Your business idea – the need you’re fulfilling or problem you’re solving.
- Where you want your business to go and how you want it to grow.
- How debt in this stage of your company can help you achieve.
- Finally, how you’ll generate enough cashflow to repay the debt.
- When assessing credit worthiness, Augie says the key is your business’ relationship to the bank – what partners do you work with that we do business with that can corroborate?
- Real life local success stories.
- Common financial mistakes (hint: Leverage!).
- The value of productive debt.
- The necessity of fraud protection and education.
- The wisdom of bringing the bank into your business plans as the firm grows.
- Augie’s positive outlook for Baltimore commerce and job opportunities for small businesses.
- With business, there is no one-size-fits-all. In some cases, debt might be a solution, in others equity or capitol may address a shortfall.
You don’t want to miss this one…
About “Love ‘n Business”
Mick Arnold runs his 90+ year old family business, Arnold Packaging as well as his latest venture, Arnold Automation. His wife, Britt Tegeler Arnold, founded Tegeler Construction & Supply in 2016.
In their “Love ‘n Business” podcast, you have a front row seat as they speak openly about navigating their businesses, entrepreneurship, relationships, and life, with their unusual dynamic.
You can view past episodes right here.
