Dan Pace: Small Business Finance Opportunities During COVID-19 - burst 3


So so can you talk about the different types of as BA loans that you offer the different types of products that you offer for people who are interested in either starting your own business resale investment our franchise investment. Sure. OFF A! Ship for Reidy of them, but what I would I'm GonNa Start with the basic stuff events from there Is there is a lot of different things. We. Do but let let's start with some of the programs and there's probably four or five Queer Listrik. One model it has been very prominent for financial. It's called the express while. Express loans or any anybody who wants to borrow seventy, five, two hundred fifty thousand dollars to purchase A. To open a start up this in the reason APPs prominent with us is because most of the organizations that we work with itself franchises. Believe it or not, you're franchises, only a hundred and fifty thousand dollars all land. I found it hard to believe I. Put this program together probably eight or nine years ago. It's one of my most successful giving example just on each breast loan programs last year. In twenty, nine, thousand nine, we put four, hundred, ninety seven. START UP businesses, we mean startup brand new audit, a gun for fifty million five hundred thousand dollars. That's what we funded. Amazing number. As, we look at the we'll look at the franchise's because we work one on one with the franchise stores. They work way. We asked him to work for the clients benefit. and. But realistically speaking when I started I said how can make any money with a hundred and fifty thousand dollar investment is I'll be perfectly honest. My investments as you know are just a few minutes. Go I said. Most of my investments were million a million five in It took me a while to make money back. There's no doubt about it, but in these expressed role models, you know, most of these people are turning these businesses around in from the start up gone in making a hundred thousand dollars a year. We've been there I. Twelve to fourteen months. Yes, in with my research and what we've looked at now of all the loans that we've gone, which is hundreds, millions of dollars in express low model. We're wanting less in point five percent of fall. That's an amazing number when you look at. Been Business Opportunities so that program has been weary very successful because it's very little money out of pocket. And you know we're not collateralized anything. So what your clients have to understand is SBA has all these different criterias I. If you go from this amount to data amount. Give an example unexpressed. It's fifty six, seventy five. which is what we like one fifty. If you go to one hundred fifty two thousand dollars, two dollars over a whole program changes the federal government now at a different idea of what they want to do. My job in my staff's job is to shoulder people. Is What we will do this. If you don't want to tie up your real estate, you don't want to do this. This is the program that you have to stick with. But it doesn't work for everybody. Show between express long, which is really a bread and butter program for my bay, and there's very few banks in the country. That really do it. The waiter. We you Joel what I would say to your clients to listen to this. is they really each call and speak to a representative? What my raps explain it to them because it's a whole lot of things that we could be talking about in this podcast is instead of for for me to talk for five hours. But you know me, and I will but people lose their attention span and I want to get to the point where we can do what we can do. A great program we're open to speak to any of your clients who WanNa talk about it to any of your franchise stores who WanNa talk to any of

Coming up next