Financing Your Business

On the fourth episode of the African-American Business Owners Podcast, Ron Escoffery discusses the importance of building a relationship with your bank, how to start understanding your business by making use of a financial management tool, and the added advantage of having a mentor.

Topics Covered:

• Today's podcast is called financing your business. [1:00]
• How to obtain financing for your business [1:35]
• Our mission is to transform you from where you are today to where you want to be in the future [1:53]
• Money gives you options. [2:11]
• Growing means taking a risk... means falling down a couple of times. [3:39]
• Building true wealth is a journey. It's not an easy journey. [4:23]
• Once you know what you're worth, you start on the journey to improve that. [6:11]
• Because money runs through everything [7:10]
• If it were easy, everyone would be financially well off [8:04]
• The financial system has been failing Black-owned businesses since the beginning [12:33]
• Credit is an integral part of the loan process [14:38]
• You don't want more information...You want an advocate. [14:58]
• Your financial statement is a good place to start [16:41]
• The big banks are not your friends. [19:46]
• Before you want to borrow a dime, start building a relationship. [20:36]
• It’s always a plus if you tell them you're working with a mentor. [22:57]
• Closing Remarks [23:18]

Connect with Ron Escoffery:

• ronescoffery.com
• [email protected]
• (404) 626 1425

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