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Ep. 230 | Small Business Financing: Insiders Look at an Amazing Loan Product for Small Businesses Through United Midwest Savings Bank | Florida SBDC SBSS Series 2023
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Join us in this episode of Small Biz Florida as we sit down with Terry Crispen, representing United Midwest Savings Bank, Terry has a rich history in SBA lending and shares his insights on the current banking landscape and how businesses can access capital.
Terry discusses the evolution of United Midwest Savings Bank, founded by industry professionals who wanted to make banking more enjoyable and efficient. He delves into the current state of lending, noting the challenges businesses face in accessing capital. Despite rate increases and tightened conditions, Terry emphasizes that United Midwest Savings Bank is dedicated to helping small businesses.
Discover the key criteria for accessing capital through United Midwest Savings Bank, including the importance of business viability and the ability to generate revenue. Terry sheds light on specific industries that are well-suited for their lending model and highlights how they tailor funding to align with businesses' launch points.
Learn about United Midwest Savings Bank's innovative $50,000 unsecured loan product designed to provide quick access to capital for both startups and existing businesses. Terry explains the loan terms, including a 10-year amortization period, no balloon payments, and prime plus three-and-a-quarter interest rates.
Find out how to connect with United Midwest Savings Bank through your local SBDC and explore their website at SBDC.Loan. Discover how you can secure the financing you need to launch or grow your small business. Recorded live at this year’s Florida SBDC Network Small Business Success Summit hosted at The Westin Fort Lauderdale Beach Resort.
Learn more about United Midwest Savings Bank: https://www.umwsb.com/
Get more information about the loan mentioned in this episode: SBDC.Loan
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