In this accounting method, income and expense items are sometimes recorded prior to being collected or paid.
What is the accrual method?
100
This is the first type of collateral used on all retail deals.
What is All Business Asset Lien?
100
This is the debt service coverage ratio that is required for contractors.
What is 1.75x coverage (1.50x for real estate)?
100
"I'm in the process of moving my business to a new location and I need to borrow money to replace old equipment, purchase new desks and HVAC systems."
What is a Flex loan or Term loan?
100
This NFL New England Patriots tight end has a brother that just recently joined their practice squad.
What is GRONK
200
Liabilities in this category are payable within 12 months.
What are CURRENT liabilities?
200
Up to 80% of this current asset balance can be used for collateral.
What is Accounts Receivable?
200
This expense can be added back for real estate purchase transactions.
What is Rent expense?
200
I am looking to purchase a piece of commercial real estate as I have out grow my current space, however I need to extend the term as long as possible and put the least amount down.
What is SBA?
200
This quote is from his newest commercial, "What's with these people man? Lemonade! Read the sign-Lemonade! Read it. Delicious."
Who is Ice-T?
300
This is a companies undistributed income.
What is retained earnings?
300
Up to 50% of this current asset balance can be used for collateral.
What is Inventory?
300
A business can claim 100% of their depreciation in the same year the asset is purchased by using this type of deduction.
What is 179 expense?
300
"I need a line of credit to purchase a large moving truck for my moving company."
What is a Term or Flex loan?
300
This is what you subtract from the asset balance to determine the net depreciable asset we can use for collateral coverage
What is accumulated depreciation?
400
The taxes on the business's earnings are paid by this entity.
Who are owners?
400
This type of receivable is excluded from our A/R calculations in determining collateral coverage.
What are Government Receivables?
400
This is the percentage of personal living expense that is subtracted from the cash flow.
What is 35%?
400
"I need someway to borrow money to finance my receivables."
What is a BLOC?
400
These are expenses incurred to promote, sell and deliver a company's product and services.
What are Selling, General and Administrative expense (S G & A)?
500
This intangible asset can not be amortized.
What is goodwill?
500
This is the acceptable collateral coverage ratio.
What is 1:1?
500
I can find this item on three different schedules of the business tax return (M2, K and K1)
What is distributions?
500
"I need to be able to reimburse my employees for gas that they purchase on the road."
What is Business Credit Card with Access Card Command?
500
In the event there are not any business assets to be used as collateral (according to SBA) these two personal assets can be used for coverage.
What is a lien on their primary residence and/or life insurance?