Brady Harris

🚨Implosion Alert 🚨 Shenanigans continue in the banking industry. The CEO hired his wife and dog 😵‍💫😱😳 ‼️Republic First Bank ‼️ The rot and greed is in the executive board rooms while the customers and employees pay the price. Instead of doing the right thing and putting depositors' money to work into neglected segments of the community (that's the whole purpose of a community bank charter after all!), these "bank executives" - IMO sleezy used car salesmen in designer suits - went for the easy money and loaded the Republic First Bank's balance sheets with high risk securities. Many more banks will fail because they have recklessly invested OUR money when the Fed was giving it away during the pandemic - a time of national crisis. These "executives" took advantage of the system during a crisis while the rest of the nation struggled to survive. What's the solution ? 1. The Fed should confiscate all of the personal assets of these dirty bankers 2. AI + blockchain technology is rendering all them irrelevant. Don't let them use your money to lobby Congress to impede this much needed tech. Angel AI to the rescue! AngelAi.com #blockchain #ai #angelai #bankfailure #implosion #dirtybankers #cheaters #irresponsible #badmanagement

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Instant Confirmation >= Instant Payment What I love about this article is how utilizing RTP over Wire not only saves customers money but creates a better end user experience. Yes, wires are equally as fast as RTP, but the processes to originate the two are totally different.

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The magical seller note that every small business buyer is aiming to secure might not be all it is cracked up to be, here’s why 👇 As Adam Markley pointed out in a recent post, a seller note can actually be much worse for your cash flow when compared to an SBA loan.  The reason is simple: - An SBA loan for an acquisition is likely to have a 10 year term - A seller note is likely to be 5 years or less This study by Search Investment Group showed that 64% of seller notes in their survey had a term of 5 years or less and only 19% were a full 10 year term.  I think there are some good reasons to have a seller note like: ✅ A seller note on full standby can be utilized toward your equity requirement for an SBA loan.  ✅ A seller note keeps the seller engaged in helping you transition the business post-acquisition ✅ A seller note reduces the amount you need to borrow from the bank which might be what is needed in order to get the deal done with the bank. That being said, a seller note is probably going to make cash flow tighter.  If you are going to get an SBA loan anyway with a personal guarantee, putting up your home as collateral, etc. it might make sense to just forgo the seller note if you can get the deal done without it.  What do you think?  Do the benefits of a seller note outweigh the negative impact on cash flow? #smb #smallbusiness #sellernote

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Small businesses are at risk of failure without access to capital, as highlighted in Jack Henry's 2024 U.S. Small Business Lending Needs and Trends report. The report reveals crucial statistics: 82% fail due to poor cash flow, 29% close when they run out of cash, and 9% receive no funds after applying for a loan. Banks are stepping up to support SMBs with innovative technology. Check out more insights in the article below including some of the moves being made by some of the key players and how they are helping Small Businesses (Chase, TD and Citizens). #SmallBusiness #FinancialSupport

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What's the best financing option? One that's easy to get and easy to repay. When it comes to arranging financing, SBA loans are undoubtedly the most famous option. And rightly so. Given its focus on small businesses and its scale. In 2023, the SBA provided $27.5 billion through more than 57,300 7(a) loans to small businesses. While SBA loans could be a good option to secure capital, there are potential issues to be aware of: ➡ Slow Approval Process ➡ Stringent Eligibility and Documentation ➡ Collateral Requirements ➡ Complex Application Process ➡ Inflexible Terms ➡ Personal Liability Financial alternatives exist, but a lack of knowledge prevents many from choosing the path of least resistance. With OppZo, SMB govcons can secure up to $3M of working capital. Here's how OppZo is different: ✅ No personal guarantees required ✅ Streamlined process ✅ Clear and consistent communication ✅ Transparent terms ✅ No fees or credit check before pre-qualification ✅ Funds transferred within 24 hours post-approval Learn more about Oppzo's Registration and Application Process here: https://lnkd.in/ez9xJ89t What financing options have you considered apart from SBA loans? Share your experience 👇 . . . Wondering if you'd be eligible to access financing through OppZo? DM me, and I'll be happy to help! ___ #govcon #SMBGovernmentContractors #Innovation #entrepreneurship 🔔 OppZo - democratizing access to affordable working capital for GovCons. Get in touch if you're looking for working capital: https://lnkd.in/edmdGwUX.

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My previous post was about "Cash is King and Cashflow is Everything". Today the US Small Business Administration unveiled a new LOC of up to $5M to fund small businesses. "The SBA’s new working capital lines will have an annual fee and maximum interest rates based on the prime rate plus 3% to 6.5%, which would be roughly 12% to 15% today, according to the agency. They will allow small business owners to either fund specific projects or borrow against their assets. Loans larger than $150,000 will have a 75% guaranty by the SBA, limiting the losses that lenders face if customers can’t repay their debts. Loans smaller than $150,000 have an 85% guaranty, the agency said." https://lnkd.in/e4Y_ANx4

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PE investors / operators: have "hire additional sales capacity" on your VCP or annual plan? HIRING new reps is only half the battle. For the ROI math to math, gotta then make 'em productive. As quickly as possible. But when it comes to making reps productive quickly, B2B companies face two big challenges: →The average tenure of a B2B sales rep is less than two years, YET... → Reps hit their peak performance two to three years in. Translation: Most reps leave before they’ve reached max productivity. Eek. In many cases, weak sales onboarding is to blame. But taking a more intentional approach to sales onboarding has a bevy of obvious benefits: • Reducing sales turnover • Shortening time-to-revenue • Higher odds of achieving your rev targets Hit on this in the book in Winning Move #32, but check out the vid below for a deeper dive on the P's and Q's of sales onboarding ▶️ * * * * * Found this helpful? Plenty more where that came from. Check out the Winning Moves Platform: the ambitious PE leader's toolkit for accelerating value creation. ↳ A digital arsenal of resources, how-to's, and tools to help private equity leaders make value-generating Winning Moves with confidence. Link in the comments below. ⤵️

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Discovery Process at Blueprint Tax: 1. Prospect reaches out, gets link to New Client Questionnaire via cognito forms. 2. Ten questions plus prompt to upload PY returns. Acknowledge minimum fees. 3. Once complete gets link to schedule discovery call via calendly. 4. Discovery call is 20-30 minutes 5. Proposal sent via Ignition. #smb #tax Sunset at Lake Michigan

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Having bought several businesses with and without SBA lending, I've learned a lot about the process—sometimes the hard way. On our first business acquisition, we overpaid by $500,000 because we didn’t properly account for the replacement salary of the owner. While we’re covering our debt, our cash flow margins are lower than they were before the purchase. It was a costly lesson that reminds me: no matter how educated you think you are, you need to hire outside experts for financial due diligence and business valuation. In our case, we relied on the business valuation hired by the SBA lender, which came in $250K higher than our purchase price. That experience taught us that not all SBA business valuation firms are created equal. At Peak Business Valuation, we value 15-20 businesses a week for SBA lending purposes. Our goal is always to determine a fair market value, regardless of the purchase price. Sometimes our valuation is higher or on par with the price. But if it’s lower, there’s a reason, often pointing out aspects of the business that were overlooked. When valuations come in lower, brokers and SBA BDOs may not be happy, which makes sense given their incentives to close deals and earn commissions. But ultimately, the bank should be looking for a valuation that fairly represents the risk and is fair to the borrower. Overpaying for a business burdens it with debt and increases the risk of default, which is the quickest way to kill a business. Buyers should appreciate when we come in lower because it often means we’ve identified risks or issues that might have been missed. It’s a protective measure. An SBA lender should always hire an independent valuation firm that prioritizes accuracy and independence over maintaining bank relationships. #BusinessValuation #SBALending #FinancialDueDiligence #BusinessAcquisition #FairMarketValue

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A “reverse ATM” is a machine that accepts $100 of cash and gives you back a debit card for, say, $99, charging you a fee for dealing with your cash. As the WSJ reports: ·        “Paying with cash used to be a way to get a discount. These days it can often cost an extra $1 to $6 — the sort of transaction fees once limited to swiping a credit card or using an out-of-network ATM.” ·        “Reverse ATMs like those at Yankee Stadium are now common at cashless venues and restaurants across the country as a way to cater to those who prefer paying in cash. People who want to pay their parking tickets, tolls, taxes or phone bills in cash, meanwhile, often learn that government agencies and businesses have outsourced that option to companies that usually charge a fee.” ·        “All that can amount to a penalty on the people who prefer paying cash. Though it is more common to buy things with cards and mobile devices, cash remains the third-most popular way to pay, accounting for 16% of all payments in 2023, according to the Federal Reserve. That’s down 2 percentage points from the year before, continuing a steady decline that accelerated during the pandemic.” This reminds me a lot of the difficulties of paying in cash at retail locations in mainland China (https://lnkd.in/gzRtJY6E). The difference? The only places in China I can think of that would make you get a physical debit card (or physical tokens) are arcade centers. Even then, you would still need WeChat Pay or Alipay. https://lnkd.in/gJvwNsrm

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The bank earring season is upon us and we are seeing mixed signals on how major banks weather the CRE storm and high interest rate environment in 2024. 1. M&T Bank income was down 25% in the 1st quarter impacted by a. Customer deposit retention high costs, o prevent customers from fleeing to higher-yielding alternatives b. Allocation for SVB FDIC failure expense c. CRE loan exposure set aside $200 million as provisions for CRE credit losses Last month, ratings agency S&P Global downgraded its outlook on five U.S. regional banks including M&T Bank to "negative" from "stable" due to the possibility of CRE market stress hurting their asset quality. 2. PNC Financial Services Group Inc. missed estimates, Wells Fargo & Co. and JPMorgan Chase & Co., which both reported net interest income that missed analyst estimates. These banks all adjusted the net income for 2024 down by 5% at minimum. 3. Bank of America's Q1 profits fall 18% on higher expenses and charge-offs a. BofA had to make a one-time $700 million payment to the Federal Deposit Insurance Corp. to help the agency replenish the deposit insurance fund. b. Bond portfolio and CRE book fell during the Q1. 4. The bright spot is investment banking, for Bank of America -Investment banking was one strong point for the bank this quarter, with global investment banking fees up 35% in the quarter. 5. Goldman Sachs was a star of the pack where The bank said profit jumped 28% to $4.13 billion, Investment banking fees surged 32% to $2.08 billion, topping the estimate by roughly $300 million, driven by higher debt and equity underwriting. This paints a picture of struggling regional banks, prospering investment banking and environment for more bank distress buying and consolidation.

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We paid Allan and Alex $23K to source a line of credit, business SBA loan and working capital. After 14 months of playing games with us, we are now moving forward with filing an active complaint with the NY AG and KS AG. I would avoid any business with these firms in questioning as you might lose your money, business and opportunity to actually scale your business. Don't go through the same business mistake we did, as they only collected money, did a bunch of nothing and make up some excuses to pretend like they shuffled some papers and come back with NO RESULTS! Often today shark investors need a reality check in front of the Judge to decide a fair outcome of what was justified consulting work for the money. The latest investors/consultants I have come across just want to cash out projects, not help them actually scale to progressive growth! As it's fast cash to take an offering and tell them anything really without any proof of work. You can't trust anyone's word anymore, even if they are known in your circles of friends. This documents my outcome today with Alex and Allan. If they haven't closed any funds in last 24 months, then your group fund is dead/No Powder. I'm happy to close out the 1st quarter of 2024. They will have a hard time proving they provided anything giving this documents our painful experience with this team. Next time they will need an example of what they caused when they stole the money from this vet! I doubt any new business will happen anytime soon with this group of fraudulent investors. I created this to set the cadence across the Invester community as I make an example of this team's failures to communicate, provide proof of work and show one piece of evidence that our deal was in the works to obtain a ratesheet when you made us believe you had funds in the bank. I wouldn't take any loans now with super inflated interest and it's 14 months too late. The weird issue is they have loan products on the website that were never offered, but they expected to keep the money for nothing. When everything was all just a package of lies to reel in our money! Allan and Alex need a taste of reality! Now it's time to find some real investors who are impactful to the world! #BadBusiness101 #FundingBadLoans101 #AllanGoldner #AllexWigginton #HalcyonLending #HalcyonCapital #StatusGroupInternational

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There are two sources of "free" money for a first time home buyer: 1️⃣ downpayment assistance 2️⃣ student loan payment/balance reduction Freddie Mac Single-Family released DPA one to match borrowers with downpayment programs in almost 30 states. Fannie Mae provides a $2500 credit and an alert in DU for those who meet the area median income requirements. Regulators do what they can to provide more transparent and direct access to downpayment. We hope student loan reduction will soon be included as an alert. In the meantime, we at LoanSense are working to provide transparent and equal access to debt-to-income improvement in the lending process so lenders to improve affordability and approve more loans. Benefits to student loan reduction and DTI improvement include: 🎯 increase home affordability - more access to housing inventory on the market 🎯 lower mortgage insurance cost 🎯 assist the lender to stand out on increased affordability, not just rates. #firsttimebuyer #homeownership

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The first time I saw a strong business taking out 50% interest loans from Shopify, I couldn’t believe it. What would have a Business Owner make such a costly decision when there are so many cheaper forms of capital like an SBA loan? Turns out, there are two main answers: 1️⃣ Lack of time: ◼️ The SBA or Bank loan process has always been friction-filled, and for a Business Owner who is looking for capital at 10pm on a weeknight after a 12 hour day, that “Get funding now” button on Shopify just seems easier. 2️⃣ Lack of education: ◼️ Many Business Owners don’t understand how SBA loans work ◼️ They don’t know how to qualify and banks have done a poor job of educating ◼️ Business Owners don’t realize that the affordable looking $200/day deduction from their payments volume, while seeming cheap the way it’s presented, is actually 4X+ the rate they should be paying Those are some of the problems we are aiming to solve at Bankwell: ◼️ First, by making the SBA loan process easier and more streamlined (targeting as little as 2 days). ◼️ Second, by providing simple and easy-to-follow education about SBA loans and how businesses can get approved. More to come. Ask me anything.

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