Working Capital Financing 101!
Victor Castillo
I help Business Owners & CRE Investors secure the capital they need to execute their growth strategies, and I help bankers become Business Banking Superstars!
When your prospect or client brings up the topic of working capital financing, you need to be ready to discuss all the options on the table. Rockstar Business Bankers will ask probing questions so that they can nail the process of matching the borrowing need with the best working capital product.
There are times when two products are required to get the job done! For example, a business may need a conventional line of credit to purchase inventory and a commercial card for its sales people.?There are times when only one option makes sense. For example, a business that is struggling may only qualify for the SBA Express line of credit. There are times when you will have to sell against a product you don’t offer. For example, recommending SBA Express versus factoring!
If you want to convince your prospects, clients and referral sources that you are a business banking rockstar and that you have the solutions they need, you need to be able to confidently talk about all of the working capital products available in the market place!
The video below is a crash course on the most common working capital products available in the marketplace.?If you want to download a copy of the slide deck, you can use the following link and scroll down to the Working Capital Financing 101 option: https://www.bizpetrol.com/Downloads-Free or you can click on the link below.