How to Get Financing for Your Business – Episode 231

Getting financing for your business can be a difficult challenge if you follow the typical approach of working with a bank. In this episode Kim Butler shares examples from entrepreneurs and corporations that followed the traditional route of getting capital to grow their businesses.  

Tune in with Kim D. H. Butler and Spencer Shaw to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at we*****@Pr****************.com and we may answer it in an upcoming episode.

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Show Notes

  • 1:48 – We are grateful for No B.S. Money Guy Todd Strobel
  • 2:09 – Traditional vs Typical strategies for financing your business
  • 3:10 – J.C. Penny used whole life to support growth and cashflow challenges
  • 3:33 – Walt Disney and Foster Farms borrowed against cash value to enable growth
  • 4:23 – How Kim Butler uses cash value life insurance to support her business
  • 5:58 – Why we view this as an emergency / opportunity fund
  • 7:00 – You can own life insurance personally or have your business own it
  • 8:02 – How long do you have to wait to access emergency / opportunity funds?
  • 9:54 – There are no limits on the minimum or maximum
  • 11:30 – Why most business owners aren’t following the traditional methods
  • 13:27 – How listeners can take the next step

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