My Agency Made Its First Acquisition. Here's What We Learned. copertina

My Agency Made Its First Acquisition. Here's What We Learned.

My Agency Made Its First Acquisition. Here's What We Learned.

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What if the person deciding whether you get the money to grow your business isn't a gatekeeper at all?In this episode of Life Of And, Tiffany sits down with Trina McWilliams, a Commercial Relationship Manager at First Internet Bank, for an all-access look at a deal she just did with her team. On July 1st, Element Three closed on its first acquisition, and Trina's bank financed it. Tiffany walks through the real numbers, including why she borrowed about a half million dollars instead of writing a check from the company's own cash, and what she's learned about how much operating room a deal actually needs once the papers are signed. Then she opens the door most business owners never get to see behind: what happens inside the bank while your loan request is being reviewed.Trina breaks down the five Cs of credit in plain language and explains what she's really looking for when an owner brings her a deal. She's honest about the parts that feel scary, like what a personal guarantee actually obligates you to, and generous about the parts nobody tells you, like why the conversation is so much easier before you need the money. If a bank has ever felt like a room you weren't invited into, this one gives you the vocabulary, the questions, and the confidence to walk in and start the conversation.What You’ll LearnWhat a bank is actually evaluating when you ask for money, and why so much of it comes down to how you've ledWhy the smartest time to talk to a banker is long before you need financingHow to think about which part of a deal to fund with your own cash and which part to borrowWhat a personal guarantee really means, and how to sit with that risk honestly before you signTimestamps:(00:00) Intro(01:23) The acquisition we financed, and why we didn't wait(07:16) What a banker is really looking for when your deal arrives(10:23) Why banks lend on your ability to repay, not your need(13:20) Why we took a $500K loan instead of writing the check(17:33) Seller notes, earn-outs, and the 60-day cash cycle(20:38) Your character and track record matter more than revenue(23:38) Collateral and why the bank hopes to never use it(26:23) What a personal guarantee actually obligates you to(31:43) When to call a bank and what to bring with you(33:37) SBA vs. conventional, and which fits your deal(35:59) How to find a banker who works for you, tooReady to Put Your Money to Work?Learn More About First Internet Bank Here: https://www.tiffanysauder.com/First-Internet-Bank Like this episode? Check out more in the series:Stop Managing Money. Start Building Wealth: https://www.youtube.com/watch?v=sgmX1Lrf1X8 How to Teach Kids Financial Literacy Through Everyday Money Decisions: https://www.youtube.com/watch?v=VKB34UvGVEc The Budget Questions You’ve Been Too Afraid to Ask: https://youtu.be/QMeyEZXozAAStop Looking Wealthy, Start Building Wealth: https://youtu.be/Cfwewqby9HE Money Confessions: What Women Really Think About Time, Guilt, and Financial Freedom: https://youtu.be/m3fnoNDOp-A How to Stop Doing It All and Start Living Your Life: https://youtu.be/MJLq7zdH2NU Why Smart Women Still Feel Unsure About Money (And How To Change That): https://youtu.be/h5tayXL1HxI For more from Tiffany:Follow Tiffany on Instagram: https://www.instagram.com/tiffany.sauderLearn more: https://www.tiffanysauder.com For more from Trina:Follow Trina on LinkedIn: https://www.linkedin.com/in/trina-mcwilliams-6b197348/ Ready to build your own Life of And? Explore the program: https://www.tiffanysauder.com/Program Check out the apps and sponsor of this episode: Created in partnership with Share Your Genius www.shareyourgenius.com Learn more about First Internet Bank: https://www.tiffanysauder.com/First-Internet-BankFind out more about Neighbor Serve here: https://neighborserve.com/life_of_and/
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