Join us in this informative episode as we navigate the world of small business financing with Richard Giessert, Vice President and SBA Loan Officer at Marine Bank & Trust. Discover Richard's background, his pathway to Marine Bank & Trust, and the vital role he plays in helping small business owners access the capital they need to grow and thrive.
Richard shares insights into the significance of community banks and how they differ from larger institutions. Learn about the flexibility, responsiveness, and personalized service that community banks like Marine Bank & Trust provide to their clients. With a local focus and decision-making authority, community banks can tailor financial solutions to meet the unique needs of small businesses.
Explore the various government-guaranteed products available to small business owners, including 7A and 504 loans. Richard breaks down the primary uses of these loans, from working capital to business acquisitions, real estate, and equipment financing. Discover how the 504 loan program allows borrowers to get in with as little as 10% down, offering significant savings compared to conventional loans.
Understand the importance of a well-structured business plan and financial projections when seeking financing for expansion or acquisition. Richard emphasizes the value of collaboration with organizations like the Small Business Development Center (SBDC) in preparing loan applications.
Richard also delves into the SSBIC (State Small Business Investment Company) program, highlighting its unique role in providing financial support to businesses that may not qualify for conventional lending. Discover how the SSBIC program can be leveraged under specific circumstances to help small businesses succeed.
Learn about the approval process for SBA loans and how local decision-making and partnerships with organizations like the SBDC play a crucial role in advancing loan applications. Richard shares the importance of marketing and continually nurturing a strong pipeline of loan opportunities.
Explore the nuances between SBA and SSBIC programs, including differences in guarantees and eligibility criteria. Discover how the SSBIC program can be a valuable resource for businesses with unique needs, such as nonprofits.
Join us for an enlightening conversation that provides valuable insights into the world of small business financing and the essential role community banks play in supporting local businesses.
Recorded live at this year’s FLAGGL Small Business Lender’s Conference hosted at The JW Marriott Orlando, Grande Lakes
Learn more about Marine Bank & Trust: https://www.marinebankandtrust.com/
Ep. 261 | Bridging the Digital Divide: How Comcast Connects Rural Florida with Michelle Oyola McGovern, Vice President of Government and Regulatory Affairs at Comcast
Ep. 260 | Leveraging Technology for Rural Economic Growth with GIS Web Tech and Row Bertasi
Ep. 259 | Empowering Rural Economic Development - Key Insights from the FREDA Summit with Terry Burroughs, Okeechobee County Commissioner
Ep. 258 | Growing Rural Businesses - Kaylee King & Alex Tijerina of the OEDC Unleash New Initiatives
Ep. 257 | Fueling Your Business: Unlocking Resources with Duke Energy's Economic Development Programs
Ep. 256 | Public-Private Powerhouse: Growing Rural Businesses Through Partnership with Justin Ford, from Dewberry Engineers, and Antonio Jefferson, Gretna's City Manager.
Ep. 255 | Molding Tomorrow: 3D Printing Revolution with Ken Brace
Ep. 254 | Shaping Tomorrow: Lake Ray's Insight into Florida's Manufacturing Landscape
Ep. 253 | Winds of Change: Robert Linder and the Future of Manufacturing in Florida
Ep. 252 | Crafting Success: Pavel Kuviarzin Unlocks the Manufacturing Code
Ep. 251 | Manufacturing Maverick: Alex Vasquez Unleashes the Power of Possibility
Ep. 250 | Guardians of Cyber Space: Fortifying Small Businesses with Horacio Maysonet
Ep. 249 | Navigating Florida's Economic Horizon: A Conversation with Mark Wilson from the 2023 Future of Florida Forum
Ep. 248 | Innovating Healthcare: Eddie Gonzalez Loumiet, CEO of Ruvos, Redefines HealthTech
Ep. 247 | Empowering Lives: Goodwill's Impact on Florida's Workforce with Executive Director Keyna Cory
Ep. 246 | Empowering Families: Better Together's Impact on Florida's Workforce with Executive Director Jeff Bell
Ep. 245 | Empowering Florida's Future: A Conversation with Madeleine Thakur, President and CEO of the Children's Movement of Florida
Ep. 244 | Transforming Florida's Manufacturing: Insights from Suzy Teele, Chief Strategy Officer at the ARM Institute
Ep. 243 | Charting Florida's Business Frontier: Insights from Jamal Sowell at the 2023 Future of Florida Forum
Ep. 242 | Data for Good: Sheri Cheney Jones Unveils SureImpact's Social Impact Revolution
Join Podbean Ads Marketplace and connect with engaged listeners.
Advertise Today
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Gorse Culture PODcast : The H.R. Detective Agency!
HCI Leadership Revolution
The Ramsey Show
Planet Money