As the country is beginning to emerge from COVID restrictions, now is the perfect time for Financial Advisors to be speaking with business owner clients about their capital needs. It’s also a good time to let them know that Newtek Business Lending is open for business for more than just PPP loans.
The pandemic has been disruptive to businesses in all sectors. But as your business clients begin to look toward the future, discussing their financial as well as their capital needs is a top priority.
Here are a few conversation starters:
- How is your business doing? Can it benefit from having some growth capital right about now? Debt consolidation and refinancing could improve monthly cash flow. Working capital can enable you to add staff or take on projects you have been putting off.
- Does it make fiscal sense to keep leasing your space? Rates for commercial real estate loans are low enough that you may want to consider owning versus leasing space.
Newtek offers greater opportunity by making loans available to business owner-operators for virtually any purpose in all 50 States. Banks are being more discerning and restrictive in their lending by enacting more stringent guidelines, offering shorter loan terms, and restricting or freezing credit lines.
A term loan with Newtek offers:
- Loans from $50,000 - $15M
- 7 – 25-year terms and amortizations
- Limited to no prepayment penalties
- No restrictive loan covenants
Helping clients with their capital needs can lead to stronger relationships, incremental new assets under management, and new client referrals.
If you would like to discuss ideas to help your FAs position Newtek with their business owner clients please do not hesitate to contact me. I’m also happy to talk with you about any referrals submitted to NewTracker.
Regards,
Nolan |
