When you consider growing your business by taking out a major loan, how do you know what risks are worthwhile - and how do you evaluate risk in the first place? What factors are crucial in determining when to invest in real estate and what kind of property you should purchase? Why is it imperative to know your numbers well, and how do you ensure you’re not fooling yourself? These are among the most important questions for any growing business, and Yankie Markowitz, Chief Executive Officer of SBA Loan Group, has a fascinating way of addressing them all. Listen to Meny and Yankie discuss all this and more on this useful and crucial episode of Let’s Talk Business!
Yankie Markowitz is the Chief Executive Officer of SBA Loan Group and has helped facilitate over $600 million in real estate transactions and complex deal syndication. He is often sought out by bankers to help structure complex SBA transactions because of his knowledge and unique experience with the U.S. Small Business Administration loan programs. He also serves as a Board Member of C.H.Y.E., a non-profit resource center that helps aspiring entrepreneurs in the area of responsible business development and provides them with the tools and resources that they need to achieve lifelong financial independence.
[00:01 - 07:26] Opening Segment
• Understanding SBA loans and how banks pivot to accommodate the market
• How Yankie has helped facilitate over 600 million in real estate transactions
• How SBA loans are outstanding for small businesses
• Banks pivot to accommodate the market and protect themselves
[07:27 - 14:22] Small Business Growth
• Exploring the benefits of SBA loans
• Stimulating the economy by helping small businesses grow
• The two primary loan programs that SBA provides
• The requirements to qualify for an SBA loan
[14:23 - 21:20] Getting the Money You Need
• SBA is flexible as long as the bank is willing to take the risk
• Banks want to be on the same page with the borrower
• How SBA Loan Group educates people on the program
• Loans are available for those looking to expand or grow their business
[21:21 - 28:11] Making Money Faster
• Advice for business owners on taking risks and buying buildings
• Success of a business is based on the success of clients
• What business owners should consider
• The significance of understanding your numbers
[28:12 - 35:19] Know Your Numbers to Get the Best Loan Deals
• Real estate typically appreciates over time
• Owning property can be an investment for a business
• Business owners should understand their numbers
• The vocabulary of real estate investing
[35:20 - 41:48] A Guide for Business Owners
• Your numbers are essential to running a successful business
• Why you should speak to their accountant at least once a quarter
• Be intentional with the goals of the business and set metrics to measure success
• Outsource specific tasks, but don't outsource responsibility
[41:49 - 48:36] The Power of People, Process, and Product
• How SBA Loan Group is helping businesses pivot and succeed
• Refinancing can be a great option when rates increase
• Having the right team and process in place is critical to success
• Attending events and being around like-minded people can be beneficial
[48:37 - 1:00:23] Closing Segment
• Discovering the power of community
• Yankie on the rapid four questions
Want to connect with Yankie Markowitz? Follow him on LinkedIn or Instagram. Visit SBA Loan Group, one of the most reputable packagers of government-guaranteed small business loans to business owners.
Key Quotes:
“We're not interested in wasting time. If we waste time, we're losing money. The faster we can get the deal done, the more money we make.” - Yankie Markowitz
“Real estate appreciates no matter what.” - Yankie Markowitz
“Knowing your numbers will tell you what your business is doing." - Yankie Markowitz
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