Banking Tips for Business Owners with Jason Halteman of PNC Bank – 06.12.2022
In this 71st episode of About the House with Troy Galloway, Troy talks to Jason Halteman of PNC Bank about commercial banking. Find out what business owners need to do first to ensure they get approved for a loan.
Contact Jason by calling 314-412-9000 or by email at jason.halteman@pnc.com
Submit your questions at the Galloway Building Services Facebook page https://www.facebook.com/GallowayBuildingServices
About the House brought to you by http://gallowaybuildingservices.com/
WHAT’S INSIDE
1:32 Jason was in the Army National Guard for 6 years and is now married with 3 kids
2:37 Jason has over 21 years as a business banker
2:58 What will interest rates do?
3:26 Rates dropped in 2008 and have been increasing since then
4:12 Fixed rates for up to 25 years
4:58 Buying a strip mall how and what is an owner-occupied real estate loan
6:22 Troy has been working with Californians because they get more for their dollar in the Midwest
6:58 Investment property
7:30 Troy’s been working with Somalian hotel buyers
8:27 Apartment buildings are commercial once there are 4 or more units
9:30 SBA loans and conventional loans
11:30 Reducing tax burdens
12:25 What to do when getting ready to borrow money
16:55 Construction loan for an apartment building
17:35 How do you know I’m using the loan for the right things.
18:30 Looking at the past 3 years of taxes to see past inventory
19:05 Bad loans affects everyone. Just look at what happened in 2008
19:15 Down payments
20:36 Leveraging your building
21:30 How to get a better opportunity at your bank
24:45 How banks can help with collecting receivables quicker
26:51 Stolen check and post office delays
29:40 Paying with credit cards
31:30 Lender, accountant, and CPA all need to be on the same page
33:27 Will there be another recession?
35:30 Chinese are buying solid assets in America.
37:37 There is a huge lack of inventory but plenty of buyers
38:18 Millionaires were made during The Great Depression
39:03 Buying a business to conserve wealth
39:40 Financing to buy into a new medical practice
40:20 Troy put a little joke in one of his reports at a medial office
42:58 Equipment line of credit to buy new equipment each year
45:48 Friend of the show Jeff Solomon referred Jason Halteman to Troy
46:17 Jason shares a horror story about a buyer signing an impossible contract
48:49 Troy knows a restaurateur whose rehab cost so much that he can’t pay the loan now
50:44 Hazardous waste
51:06 contact Jason at jason.halteman@pnc.com
51:47 Find out more about PNC Bank’s services at https://www.pnc.com/