New York, NY (PRWEB) December 18, 2013
Global Financial Training Program’s new blog educates and shares promising news for businesses that have been turned down by the bank for loans and are looking for alternative ways to finance their business. In this economy, banks are turning down 90% of all business loan applications.
Financing opportunities for businesses are not as bleak as they appear. “In fact, there are numerous lenders that we are associated with,” explains Phil Dushey, CEO of Global Financial Training Program, “that are in a position to provide much needed capital outside of the banking environment.”
Global Financial enables those who go through their program to provide over 30 different types of loans, including equipment leasing, working capital, business acquisitions, real estate and many more. Once trained in this industry, graduates can say “YES” while banks are saying “NO” to 90% of business loan applicants.
The blog demystifies the types of financing that businesses seek, including:
Accounts Receivable financing and factoring: All businesses and professionals (Manufacturers, Doctors, Lawyers, Specialists), whether they sell merchandise or perform a service, usually must wait 90-120 days to get paid after they send an invoice. This creates a cash flow shortage in their business or practice. Lenders provide a line of credit of up to 90% of the invoice, so that businesses have the cash flow they need to pay suppliers, payroll, rent, etc.
Purchase Order Financing
When a manufacturer receives a valid order from a customer they must finance the production of those products. Often times they must pay for raw materials, shipping and handling long before an invoice is ever issued. In this case they turn to purchase order financing as a solution. The manufacturer presents the valid purchase order from the customer and lenders approve the production costs based on the business’s credit worthiness. This is especially good for companies that are growing rapidly and have been accepted by major retailers and chains.
“SBA loans are probably the most misunderstood loans. Most people think SBA loans take 6 months to complete. Our lenders approve SBA loans in less than 8 weeks,” explained Mr. Dushey. “For business people, the loans can be used to purchase a business, or buy a building that a business person is currently paying rent on. They can get working capital, new equipment or refinance existing debt…all with very little money down. Medical professionals can buy a practice or expand their business, buy a building or renovate it, get working capital or equipment with very low upfront costs.
Mr. Dushey was recently honored with the prestigious “Moving America Forward” Award by Retired Rear Admiral Kevin F. Delaney. Global Financial Training was recognized for their outstanding work in helping businesses thrive and grow and for creating jobs for others in this growing industry. This award is given to innovative entrepreneurs that have distinguished themselves in their industry and, as a result, are “Moving America Forward”.
About Global Financial Training Program:
Phil Dushey brings over 30 years of continuous experience in the commercial finance business to Global Financial Training Program. Global’s program trains select students in the field of commercial finance, the business of loaning other businesses the money they need to survive and grow. Graduates of this four-day program are prepared to “Own Their Own Finance Company.”
“Global Financial Training Program teaches the “ins” and “outs” of this prestigious industry, connects trainees with a pre-established network of funding sources and enables students to get approval to do business with these lenders,” said CEO Phil Dushey. Every student learns to be their own boss, with a complete sense of independence and security, especially important in these tough economic times.” For over 30 years, Global Financial Services, another one of Phil Dushey’s wholly-owned companies, has been providing loans to businesses that have been turned down by their local banks and helping business owners to grow their business.
Global Financial Training Program can be reached at 201.633.3010. For more information, visit http://www.globalfinancialtrainingprogram.com.