What if… You needed a banker? October 29, 2019 October 4, 2019 Ray Silverstein

What if… You needed a banker?

Small Businesses need a resource of qualified bankers who understands your business and who have an appetite for your companies service or product. A good banker is a must have if your business is going to thrive.

A topic at a peer advisory board is the experience peer board participants have obtaining money plus rates and conditions of the loan. Even businesses that do not have physical assets for collateral can get money by knowing the right sources.

One member who had equipment leases brought the issue of how could he reduce his monthly lease payments to improve his cash flow. The board discussed sources and structure of a bank term loan. The solution was a take out a term loan, pay off the leases, without penalty and stretch out the length of the loan for a longer period, creating smaller monthly payments. His peer advisory board was instrumental in suggesting his new banking source and structure.

I am sure you know a Peer Advisory Board is a monthly meeting of non-competitive business owners, Presidents, CEO and C level Executives with an experienced facilitator who keeps the discussion on track and drives for conclusions. At each meeting a topic is presented start the meeting, and to get the discussion following. Most Importantly, each participant has an opportunity to bring their issues to the table for peer feed back. In essence, a think tank with action and accountability.

PRO, President’s has created and facilitated business owners peer advisory boards for over 25 years. Technology now makes it possible for business owners to participate in On Line Peer Advisory Boards with an experienced facilitator, mentor, and tormentor.

To give you an idea CLICK Here for a digital copy of the PRO Small Business Toolbook. 83 pages of articles, worksheets on almost every small business issue. It will get your brain thinking! This is an example of peer advisory insight

Another situation a member wanted to secure an SBA loan. His bank told him he was not currently bankable. A member suggested an SBA consultant, this consultant assisted in the presentation and structure. An SBA loan was approved, and the member successfully grew his company.

Now you can participate in an On Line Peer Advisory board anywhere, and on any device. CLICK Here for the Small Business Toolbook and to learn more about ON LINE Peer Advisory Boards.

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