Date Recorded:Saturday April 4, 2015
Title: Uncle Solly Is Our Leverage
Hosts:Johnny Starr with Ron the Banker
Guests: Jim the Banker
Running Time:1 hour 22 minutes minutes
Thisepisode of the Fireworks Brigade was recorded on Easter Eve in Chicago. John and Ron sit with Jim the Banker to discuss what it takes to finance a fireworks store. Some other topics of conversation include:
~ Banker jokes
~ What’s a consumer loan?
~ Can I use equity in my home to start a business?
~ Typical HELOC terms
~ Investors
~ Who’s Uncle Solly?
~ Will my supplier give terms?
~ The drought of 2012
~ The five C’s of credit
~ What’s does “Unlimited Recourse” mean?
~ A true business-man is a risk taker
~ What is Mezzanine Financing?
~ Inventory, receivable and business assets financing
~ Loan covenants
~ Pyro Playhouse – “Too Big To Fail”
~ What happens if you light a firework in space?
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