Ryan Kroge, Small Business Finance

Are you ready to learn how to master the art of successful financial deals? Our step-by-step guide on leveraging the power of term sheets can help you secure your success and pave the way for profitable partnerships. Don’t miss out on this game-changing strategy! Join us for tips on financial deals, term sheet mastery, negotiation skills, and more. Let’s soar to new heights together!

Your Key to Sealing the Deal
Have you ever wondered what sets successful rich people apart in their financial ventures?

The key to success lies in mastering term sheets, which is a powerful tool that can make or break a deal. Keep reading to discover this game-changing strategy and unlock your path to successful negotiations.

What is a Term Sheet?�A user-friendly document outlining key terms in financials deals. It helps avoid misunderstanding and sets clear expectations

Why Do We Need a Term Sheet?�It prevents misunderstandings and helps obtain the best loan terms.�

How to Use a Term Sheet�
- Step 1: Share your needs (like lower monthly payments) with the other party.
- Step 2: Review the proposed terms and see if they work for you.
- Step 3: Negotiate and agree on the final terms.

There’s only one way to master term sheets�Always be transparent and communicate openly. Before making any commitments, carefully evaluate the terms and conditions.

Communication and clarity are the cornerstones of successful financial deals�

Keep these principles in mind when using term sheets to foster strong, mutually beneficial partnerships��DM me for Q&A’s

Have you ever questioned why some deals slip away just as you're about to seal the deal? It can be frustrating, but fear not! By following these steps, you'll be on the path to success. 🚀

1. Cultivate Strong Connections: It's more than a sale - it's building a relationship. Show genuine interest, listen intently, and make them feel valued.
2. Anticipate Their Needs: Tailor your pitch to solve their pain points, not yours.
3. Deliver Exceptional Value: Show the benefits clearly and generously.
4. Stay on Their Radar: Keep in touch regularly to remind them of your value.
5. Embrace Flexibility: Be a problem-solver by catering to their unique requests.

Master these steps, and watch your deal-closing skills skyrocket! 💼

📢 Avoid these top 5 mistakes that can slow down your SBA loan approval:

1️⃣ Incomplete or missing paperwork: Make sure to provide all necessary documentation to prevent delays.

2️⃣ Assuming loan approval is guaranteed: Remember, changes in income, credit, or debt during the approval process can cause delays or even denial.

3️⃣ Poor communication: Keep all parties involved informed to avoid unnecessary delays.

4️⃣ Excluding details of your financial profile: Provide a comprehensive and accurate financial profile to prevent approval process delays.

5️⃣ Not being prepared: Have all required documents and information ready before starting the application process to speed things up.
Don't let these mistakes slow you down! 💪 Get your SBA loan approved smoothly and efficiently.

🚀 Need funding for your business venture? Here are five tips to speed up the SBA loan approval process:

1️⃣ Work with an SBA Preferred Lender for faster credit decisions.

2️⃣ Use updated financials to avoid delays.

3️⃣ Gather all necessary documents ahead of time.

4️⃣ Choose a lender with a quick turnaround time like Citizens Bank.

5️⃣ Remember, staying responsive and providing requested documentation promptly can make a big difference in expediting the approval process.

Get ready to turn your business dream into a reality! 💼💰

Are you a broke business owner dreaming of some much-needed capital?
💰💸 Well, get ready for the ultimate waiting game - the SBA loan approval process.

🙄 It can take up to three months from application to closing, but don't worry, I've got all the deets for you! 🤓 Let's break it down 👇🏼

Stage 1: Collecting and gathering documents (1-30 days).
Stage 2: Application and underwriting (10-14 days).
Stage 3: Loan approval (10-21 days).
And finally, stage 4: Closing (7-14 days).

But hold up, some factors can affect the actual time it takes to get approved.

🤔 Like what type of loan you're applying for, your lender, how prepared you are...and if the SBA needs to give their stamp of approval.

😤 For example, SBA Express loans have a quick turnaround for the SBA, but then your lender does their thing, which adds more time.

⏱️ So how can you speed things up? Here are some tips: work with an SBA Preferred Lender 💼, update those financials 💵, and be prepared with all necessary docs in advance!

📋 Trust me, this waiting game can feel like forever, but keep hustling, and that capital will be in your hands before you know it! 👊🏼

Let’s goooooooo!!!!

Hey there, business owners! 👋 Are you ready to take your business to the next level with an SBA loan? 💰 Well, I've got you covered with this step-by-step guide on how to prepare for your application! 📝 Listen up!

Step 1️⃣: Understand Your Finances and Business Goals. Make a solid plan for using the funds and paying back the loan. 💡

Step 2️⃣: Make sure you have all the documents you need. Gather all the necessary documentation, including SBA forms, financial statements, and a detailed business plan. 📊 Don't worry. I've got links in my bio to help you out!

Step 3️⃣: You gotta know your credit status, fam. Check both personal and business scores and clean up any issues before applying. 💳 Proving you can repay is a must!

Step 4️⃣: Time to shop around and connect with different lenders until you find your perfect match. Ask questions, get quotes, and compare offers to get the best deal for your capital needs! 💸

And finally... Step 5️⃣: Keep hustling even if one lender turns you down, and when you find one, start the process. There are plenty of options out there! You got this! 😉

🏢 Looking to secure an SBA loan? Here are some of the top challenges to be aware of:

✖️ Credit Issues: Bad business or personal credit can hinder loan approval.
✖️ Time in Business: Lenders prefer businesses with a longer track record.
✖️ Cash Flow Limitations: Struggles with cash flow can impact loan payments and approval.
✖️ Documentation: Extensive and sometimes incomplete or inaccurate documentation is required.
✖️ Eligibility Requirements: Stringent requirements like credit history, collateral, and personal guarantees can pose obstacles.

🔍 Understanding and addressing these challenges is key. Improve credit, manage cash flow, and seek assistance from SBA resources to increase your chances of securing an SBA loan. 💪💼

Uncover the secrets of SBA loans and take your business to new heights! 💼💡

💡 Fact #1: No Jokes, SBA Loans ≠ Grants
SBA loans offer lower interest rates and flexible terms than traditional bank loans, but remember, they require repayment. Understand the consequences of not meeting the financial agreement.

💡 Fact #2: It's more than a casual walk.
Getting an SBA loan involves a detailed process. Be ready for paperwork, business plans, and credit checks. Patience and careful preparation are key.

💡 Fact #3: Not all businesses qualify.
SBA has strict eligibility requirements. Understanding and addressing these criteria is crucial for a successful application.

💡 Fact #4: Collateral is often required.
SBA may ask for collateral to reduce risks. Consider the implications before deciding.

💡 Fact #5: It's a strategic tool, not a magical cure-all.
SBA loans provide significant financial support, but success depends on the sustainability of your business. Use the loan wisely to build a strong foundation for long-lasting growth.

🌟 Bonus Reality: SBA extends beyond loans.
Explore additional benefits like mentors, guidance, and networking opportunities SBA offers.
🔑 In Conclusion
While SBA loans can empower aspiring entrepreneurs, it's essential to approach them with realistic expectations. Thorough research, understanding terms, and meeting eligibility requirements lead to success. Knowledge is power! 💪

🔗 Read more here: https://medium.com//5-mind-blowing-facts-about-sba-loans-8f9b78db3166

Business owners! It's Ryan Kroge, your go-to SBA loan specialist! Looking for the perfect financing solution for your business? You've landed in the right place!

With over 25 years of lending and business experience, I'm here to help you grow your business and take it to the next level!📈💰

My expert team offers a wide range of services, including Small Business Administration loans, business acquisition, strategic consulting and financial planning! Whatever your business objectives may be, we have got your back!💼💡

Don't believe me? Check out what my satisfied clients have to say!👀💯Our customers have secured funding, successfully acquired businesses, and improved their financial strategies under our expert guidance and consultative approach!🤝

Now, it's your turn! Let's get your business on the track to success with our expert financial solutions!💼📈 Shoot me a dm or click link in bio 🔗

Getting ready to trott!

Sure, you may have a fancy bow and a nice camouflage tree stand, but that can’t compare to 6,000 pounds of pure Detroit muscle! I like my venison tenderized before I harvest it. Stay frosty out there. The rut is wild!

This is what it looks like to work with the best SBA shop in Michigan. While we are second in Michigan by number of loans and volume, our back room support at First Internet Bank is second to none!

Carbs

When the waitress accidentally knocks one over, you not only get what’s left, but they bring you two mehr.

Morning run complete with a Hope Week fly by! Just checking to make sure .xc.track athletes were getting their captain practices in. Sorry couldn’t help myself 😂

Not getting out until it’s done

Scholastic Art & Writing Awards ceremony for the national gold medalist

Thinking of obtaining an SBA loan for your business acquisition. Read this FIRST!

Four Keys to Secure Capital Funding through the Small Business Administration Capital funding is an essential part of owning a business. And for most business owners, that means securing a small business loan.

So awesome having such an amazing team!

The Small Business Administration (SBA) Michigan District Office recognized First Internet Bank as the 2022 Diversity Lender of the Year and as a Top 10 lender (did we mention #3 for SBA 7(a) closings?) in the state. 🎉

Special thanks to our amazing clients and SBA team, who make it all possible. Ryan Kroge, Small Business Finance

Have you been thinking about taking all your experience and hard work and using it to be in control of your own financial freedom?

Now is your chance!! SBA pre-approved for 10% down! No collateral, no problem! Call me for a quick pre-qualification.

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