Episode 61
Not all debts are created equal. There's good debt that can grow and scale your business and there's bad debt that can drive it to bankruptcy. David Kennedy of Parkside Financial joins us in this episode to tell us the risks and rewards of debts. If deployed correctly, debt can be a great investment for businesses. They just need to identify what assets they should have and the specific situation they need to be in before going to the bank and borrowing money.
Let’s listen to David and demystify debts!
[00:01 - 04:08] Opening Segment
- Let’s get to know David Kennedy
- His path as a commercial lender
- The services offered by Parkside Financials
[04:09 - 14:06] Risk and Reward of Commercial Lending
- Should a company have debt?
- David weighs in
- The risk and rewards of commercial lending
- David explains the 5 C’s of credit
[14:07 - 23:27] The Cushion You Need in Your Business
- Listen to David to know why their rates are attractive to borrowers
- The cushion that your business needs
- Want some Amazon refunds? Check out Getida
- Promo code: FTM400
[23:28- 34:45] The Bad Time For Debt
- Don’t miss this inspiring story from David
- What is Parkside Financial looking for in a client?
- The situation when debt is dangerous to use
[34:46 - 39:08] Closing Segment
- Get to know David more in the Fire Round!
- Connect with David! Links below
- Final words
Tweetable Quotes:
“Debt can be dangerous when not deployed correctly.” - David Kennedy
At the end of the day, it’s not balance sheets that pay you back. It’s people that pay you back” - David Kennedy
Resources Mentioned:
- Dave Ramsey
- Book: Shoe Dog
- Book: Ender's Game
Email DKennedy@pfbt.com to reach out to David and check out their website to know how you can leverage debts for your business.
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