Luke Boyenger, Expert Fractional CFO, joins Martin & Khalil to discuss cash efficiency, the smart use of lines of credit, SBA loans, building strong banking relationships, and more!

Time Stamps

• 01:54 - Episode & Guest Intro
• 02:08 - Exploring AI in Financial Analysis
• 05:53 - Cash Series Recap
• 07:11 - Building and Managing Bank Relationships
• 14:33 - Understanding Line of Credit
• 20:29 - Navigating SBA Loans
• 25:18 - Treasury Management
• 28:30 - HELOC Loan
• 31:25 - Identifying Red Flags in Your Business Model
• 32:50 - Maximizing Cash Efficiency
• 36:19 - Common Cash Leaks and How to Fix Them
• 38:50 - Maintaining Healthy Cash Reserves
• 50:35 - Episode Outro

Snippets from the Episode

•  There's just this misconception in the business world that it's not possible to feel comfortable - bull crap. That is not the way business is supposed to work.
• If you're going to go into business, don't put your personal financial health at  risk. Have the intellectual honesty to admit to yourself that if a bank or even a third party lender will not give you SBA funding for your business,  that's kind of a red flag that maybe this isn't the business you should even be pursuing in the first place.
•  You do not have to fly blind. You do not have to trust your gut. You can run a data-driven business.

Resources

• 24 Things Construction Business Owners Need to Successfully Hire & Train an Executive Assistant
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