By Lana Worthington, Senior Financing Consultant, updated 12/23/2018
I spoke with a small business owner today who told me that his banker advised him only to accept loans from banks…and usually, I would agree. But what if the banks aren’t willing to lend? What should a business owner do then?
This reminded me of a story from my childhood….
A boy scout got lost on a trail once, and a search crew set out to find him. Several days later, they found the boy scout, near death. They later realized that, all along, the boy was only a few feet away from them.
When they asked the boy how they missed him for so long, he explained that his parents taught him to never speak to strangers, so when they came near, he hid…
Obviously, there is good intent and truth behind advice that those who care about us offer. However, we need to know when to heed that advice, and when to take action that can save us.
Many small business owners have revenue, have hit cash-flow break-even and have a few years under their belt, but still can’t seem to catch a break from their bank. This is where we can help.
At Dealstruck, we want not only to help you secure the financing you need today, but we also want to help you build your credit so that you can secure that bank loan the next time around.
Moral of the story: Know when to hide from strangers, but also know when to accept a helping hand.