Many lenders present the loan documents as “take it or leave it” propositions. Most lenders, however, are in fact willing to negotiate.
CHICAGO, IL (PRWEB) December 13, 2016
Cash is the lifeblood of any business. While some companies operate solely with their own working capital, most must borrow money from time to time. Borrowing, of course, includes something as mundane as buying goods or services on credit (whether on credit terms or by using a credit card). But most companies of any significant size have a revolving line of credit or a term loan, or both, with a bank or other commercial lender. This Financial Poise Webinar series explores where companies should look for business loans, how to negotiate them, and what to do if they default under them.
The first episode of the series, Negotiating a Loan Agreement, is available on-demand now (Register Here) and features moderator Tom O'Hare of Marquette Business Credit. He is joined by Wade Kennedy of McGuire Woods, Corrie Menary of Kirtland Capital Partners and Matt Sloan of MB Financial.
Like most other important contacts, the contract by which a bank (or other lender) lends money to a borrower is commonly governed by a written contract: the loan agreement. This is somewhat misleading, however, since the relationship between borrower and lender is commonly governed by a number of separate documents, with the “loan agreement” being just one. Others typically include a security agreement, a pledge agreement and a personal guaranty. Many lenders present the loan documents as “take it or leave it” propositions. Most lenders, however, are in fact willing to negotiate. The terms that a lender will agree to will depend on a number of factors, including the creditworthiness of the borrower, the nature of the borrower’s business and the level of competition among lenders. This webinar provides guidance on what terms are “market,” what terms are more easily negotiated, and strategies to negotiate loan terms. To read more on this subject matter, you can click here.
Future episodes in this series will include Alternative Financing - When the Bank Says "No," Financing a Business with Help from the Feds: SBA Loans and Other "Special Programs," and Dealing with Defaults - What to Do and Not Do When Your Company Violates its Loan Agreement. Episodes are delivered in Plain English understandable to business owners and executives without much background in these areas. Yet, each episode is proven to be valuable to seasoned professionals. As with all Financial Poise Webinars, each episode in the series brings you into engaging, sometimes humorous, conversations designed to entertain as it teaches. Episodes in the series are designed to be viewed independently of the other episodes, so that participants will enhance their knowledge of this area whether they attend one, some, or all of the episodes.
ABOUT FINANCIAL POISE™:
Financial Poise™ (http://www.financialpoise.com) provides unbiased news, continuing education, and intelligence to private business owners, executives, investors, and their trusted advisors. For more information contact Emily Goldin at egoldin(at)financialpoise(dot)com or 312-469-0135.