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SCORE Be Your Own Banker (Chicago Loop)

December 5 @ 9:00 am - 11:00 am

(How to Cut out Banks, Credit Cards, and Finance Companies and
Let Your Business Be its Own Source of Financing!)

The average business owner spends 34.5% of their gross revenues on financing.  That represents a HUGE cut into profits, and leaving businesses vulnerable to all sorts of risk. But what if your business could be the bank, and collect that 34.5% as revenue instead?  Would that make your business more profitable? More competitive?  
At this workshop, we’ll unpack the financial vehicles corporations such as Apple, Disney, Foster Farms, and McDonalds are using to self-finance their business needs.  Why use a banker to fund payroll, operations, equipment purchasing, and fund future business growth?  Fire your banker, and become your own source of financing!

This workshop will first focus on how to avoid getting into unnecessary business debt, and second will offer some practical financial solutions for how the business can serve as a line of credit to itself offering tax efficiencies, liquidity and a competitive edge.  This workshop will do case studies on famous businesses and business owners who have used similar strategies in the past, such as Apple, McDonalds, JC Penny, Walt Disney, and Foster Farms. It will review financial vehicles used by major corporations and banks to operate an internal line of credit to help support the business’ operations, payroll, and equipment purchasing.

1. Comprehension of the dangers of significant business debt.
2. Calculate how banks profit from business lines of credit.
3. Determine the value of setting up an internal line of credit for each participant
4. Review 5 mini-case studies for how businesses have used similar strategies in the past.
5. Develop a working knowledge of the financial vehicles and strategies that are used by businesses to establish line of credit to the business.

Mark WillisPresenter: Mark Willis MDiv is a #1 Best Selling Author and the owner of Lake Growth Financial Services, a financial firm in Chicago.  Over the years, he has helped over 400 clients take back control of their financial future and build their businesses with savvy, efficient financial solutions.  Whether it’s helping a client growing or selling a business, save for retirement, or save and pay for college, Mark sets up a blueprint for his clients to follow and partners with them for the long haul.  Mark works with people who want to grow their wealth in ways that are safe and predictable, become their own source of financing, and create tax-free income in retirement.

Details

Date:
December 5
Time:
9:00 am - 11:00 am
Event Category:
Website:
http://events.r20.constantcontact.com/register/event?llr=9oyho5bab&oeidk=a07eekkt2v31f003a42

Organizer

Score Chicago
Phone:
312.353.3540
Website:
www.scorechicago.org

Venue

SCORE Chicago (Ogilvie Transportation Center, West Loop, Chicago)
500 W. Madison, Suite 1150
Chicago, IL 60661 United States
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Phone:
312.353.4540
Website:
www.scorechicago.org