Money can make or break your dream, but securing it isn’t always easy. SBA loans, KPIs, and retained earnings? It can all sound like gibberish to the untrained ear. Instead of sifting through the acronyms like parts at a chop shop, enlisting a specialist can be the key to reaching your goals.
In this episode, host Kim Hickey chats with PJ Scalf from Seacoast Bank to get to the nitty-gritty of shop financing. PJ specialises in SBA lending and works exclusively with auto shops across the United States. His experience gives him a unique perspective on the industry and makes him a valuable resource for owners looking to expand. Whether you’re looking to acquire commercial real estate or simply amplify your reach, capital is essential, and PJ’s expertise can help.
His conversation with Kim dives deep into the SBA loan process, a common hurdle for many small shop owners. Over the 30 minutes, they cover hot topics like what to consider before applying as well as the loan’s limitations. PJ breaks down the structure of the two main SBA loans, the 504 and 7A, showing how they can be used in tandem to solve big money problems without assuming all of the risk. They also cover the importance of maintaining a good credit line, how to leverage it, and how it can put you in the best position for expansion.
Tune into episode 149 of Maximum Octane if you're interested in boosting your finances, expanding your business, or learning more about the money moves behind the scenes.
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