Luke Boyenger, Expert Fractional CFO, joins Martin & Khalil to discuss cash efficiency, the smart use of lines of credit, SBA loans, building strong banking relationships, and more!

Time Stamps

01:54 - Episode & Guest Intro
02:08 - Exploring AI in Financial Analysis
05:53 - Cash Series Recap
07:11 - Building and Managing Bank Relationships
14:33 - Understanding Line of Credit
20:29 - Navigating SBA Loans
25:18 - Treasury Management
28:30 - HELOC Loan
31:25 - Identifying Red Flags in Your Business Model
32:50 - Maximizing Cash Efficiency
36:19 - Common Cash Leaks and How to Fix Them
38:50 - Maintaining Healthy Cash Reserves
50:35 - Episode Outro

Snippets from the Episode

There's just this misconception in the business world that it's not possible to feel comfortable - bull crap. That is not the way business is supposed to work.
If you're going to go into business, don't put your personal financial health at risk. Have the intellectual honesty to admit to yourself that if a bank or even a third party lender will not give you SBA funding for your business, that's kind of a red flag that maybe this isn't the business you should even be pursuing in the first place.
You do not have to fly blind. You do not have to trust your gut. You can run a data-driven business.

Resources

24 Things Construction Business Owners Need to Successfully Hire & Train an Executive Assistant
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