Contractor Success Map With Randal Dehart | Contractor Bookkeeping And Accounting Services

This Podcast Is Episode Number 0336, And It Will Be About Top Reasons Why Contractors Have A Hard Time Loaning From The Bank Contractors want money; banks want to lend money, what's the problem?   Think of all the times: You loaned money to a friend or relative Provided labor and material for somebody's home or business without a deposit check Did change order work that you never got paid for doing and never will Gave employees an advance on their paycheck that you never got paid back Multiply that by 100,000, and you will begin to understand why banks seem so tight-fisted about loaning money. Banks stay in business by loaning money and earning interest. They work hard to find people and companies that have good credit so they can lend money and get paid back in a timely fashion, with all of the interest due to them. Do your best to avoid raising any red flags:   Your Profit & Loss and Balance Sheet Reports do not conform to financial industry standards The financials tell the banker your bookkeeper d