))
Making Contractors Irresistible to Banks and Bonding Companies
Manage episode 387745075 series 3314227
Sisällön tarjoaa Contractor Success Forum. Contractor Success Forum tai sen podcast-alustan kumppani lataa ja toimittaa kaiken podcast-sisällön, mukaan lukien jaksot, grafiikat ja podcast-kuvaukset. Jos uskot jonkun käyttävän tekijänoikeudella suojattua teostasi ilman lupaasi, voit seurata tässä https://fi.player.fm/legal kuvattua prosessia.
It can be challenging to get banks and bonding companies to want to work with contractors. What can you do about it? Can you stack the deck in your favor? Can you dress up your financial picture? Find out on this week's episode.
Topics we cover in this episode include:
- Why a good year-end financial statement is important to bonding companies and banks
- Pay back Officer Loans at the end of the year
- Inject capital at the end of the year
- Improve your working capital ratio
- Extend the terms of your line of credit
- Timing expenses and collections
- Be aware of bank covenants on your line of credit
LINKS
Visit the episode page at https://carpentercpas.com/banks for more details and a transcript of the show.
Find all episodes and related links at ContractorSuccessForum.com.
Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs
FIND US ONLINE
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com
Find all episodes and related links at ContractorSuccessForum.com.
Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs
FIND US ONLINE
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com
Luvut
1. 141 - Making Contractors Irresistible to Banks and Bonding Companies (00:00:00)
2. Why a good year-end financial statement is important to bonding companies and banks (00:00:49)
3. Five Minute Underwriting (00:03:29)
4. The key financial ratios in your financial statement (00:04:55)
5. Pay back Officer Loans at the end of the year (00:06:48)
6. Inject capital at the end of the year (00:07:50)
7. Put prepaid income taxes toward next year's taxes (00:08:56)
8. Improve your working capital ratio (00:09:42)
9. Extend the terms of your line of credit (00:12:38)
10. Timing expenses and collections (00:16:54)
11. Be aware of bank covenants on your line of credit (00:20:27)
12. Building trust and effective communications with your banker and your bonding company (00:22:24)
167 jaksoa
Jaa
