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Answers That Count with Charles Musgrove is about leadership and the experiences that shape us into who we become as leaders.
Charles sits down with business owners, entrepreneurs and other leaders for real conversations about their leadership journeys. These aren't simply stories about success. They're conversations about the difficult decisions, challenges, values, and lessons that helped shape the person behind the position.
Charles Musgrove brings more than four decades of business and leadership experience to these conversations. As a CPA, Fractional CFO, entrepreneur, business advisor, coach, speaker, and teacher, Charles has spent his career working alongside business owners and leadership teams. His experience includes building businesses of his own and helping companies navigate financial challenges, operational decisions, growth, accountability, and change. That experience has taught him something important:
Leadership isn't theory. Leadership shows up in your decisions, your actions, your values, and the results you produce.
Episodes
Jul 6, 2020
Jul 6, 2020
38 min
With interest rates flirting with record lows and the SBA offering an incentive to pay debt service of both the SBA and bank portion for 6 months, now could be THE time for you to consider refinancing existing debt. On this session, we are joined by Ashley Vannoy, Vice President with First Bank of the Lake. She provides a very informative discussion about this program and the urgent time-line to take advantage of the SBA debt payment incentive. However, as she explains, even without this incentive, with low rates (in the 3.5%-3.9%) a 25 year amortization period and 90% LTV, this is an awesome program that can greatly improve cash flow.
Here are the highlights for the SBA 504 loans:
- Owner occupied real estate
- Down payment of owner investment of 10%
- SBA loan portion of up to 40%
- Bank financing of the remaining 50%
- 10 year amortization period for bank portion
- 25 year amortization for SBA portion
- Prepayment penalty, which is reduced to 0 over first 10 years of loan
Check out this episode for the details plus information on the SBA 7A program.
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