On today’s episode of Money Talk With Tiff, I enjoyed chatting with Craig Calafati, a seasoned small business lender with over 30 years of experience. We dove deep into the essential steps small business owners must take to secure financing and navigate their entrepreneurial journeys.

Here are three key takeaways from our conversation:

🔑 Know Exactly What You Need: Business owners must show up prepared and understand exactly how much funding they need, why they need it, and how they plan to repay it. Walking into a lender’s office without this clarity can be a red flag.

🔑 Importance of Financial Preparation: Craig emphasized the necessity of having a solid business plan and accurate financial documentation. Demonstrating a firm grasp on your business’s financial health can significantly boost lender confidence.

🔑 Smart Real Estate Decisions: For those considering physical storefronts or office spaces, Craig advises against tying up too much cash in real estate initially. Leasing might be a smarter move, preserving valuable cash reserves for unexpected expenses.

Catch the full episode to gain more valuable insights: https://loom.ly/Xb6BxUg

source