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Podcast: Village Bank: Arm in Arm with Business Owners

Podcast: Village Bank: Arm in Arm with Business Owners

In this #poisedforexit episode, we caught up with Aleesha Webb, President of Village Bank. Aleesha has been on the show a couple of times in the past and always has great insight to share with you, our business owner audience, and this time was no exception. 

Aleesha said that business acquisitions have slowed down from her perspective and that there seems to be less “blue sky” in deal structure, with more collateral instead. Seller Carryback Notes are more common and when written properly can be quite beneficial for both parties. 

She said that a bank needs to know where the business is sitting financially at all times, in order to effectively advise them in the future, whether it’s time to refinance, seek additional capitalpay off debt, or downsize expenses, a banker relationship for a business owner is vital. 

Having said that, we also talked about the overall team that a business owner needs to have in their corner when making big decisions to grow and expand. Aleesha said those businesses who have a strong financial team (both internal and external) to help the owners make sound decisions are the most successful and most well run of all their customers. 

Looking to the future, she said that inflation will drive new SBA loan programs for the smaller companies who seek that type of financing. Village Bank is writing more commercial real estate loans for its customers today; owners who sought larger space are buying vs leasing. Aleesha said that you should be able to ask your banker anything and share the whole picture without being afraid of them, because as your partner they want to help you succeed, which can only happen if they know the story! 

Sunbelt Business Advisors is a proud sponsor of the Poised for Exit Podcast. The Poised for Exit podcast seeks to help entrepreneurs improve, grow – and successfully exit – their businesses.

Julie Keyes, a life-time entrepreneur and founder of KeyeStrategies, understands what keeps an owner up at night and the balancing act required to work both ‘in’ and ‘on’ the business. The firm’s mission is to help business owners increase enterprise value and prepare for a future exit.

Julie believes in providing outside perspective and mentoring, which made all the difference for her while spending years growing and improving her companies before selling and becoming a business adviser in 2011.