Guest Blog: Lloyd Garten's Experience on Basso On Business
Jul
15
Written by:
7/15/2010 1:01 PM
Guest blog from Lloyd Garten, owner of Select Exterminating
Participating in Basso on Business was an enlightening experience and one I’d recommend for other business owners to get involved with. My financing challenge was not unique; as you read this, other business owners are getting denied for much needed loans to reinvigorate or expand their companies. Being on the show and listening to the advice from Rob Basso, Basso on Business and Tom Buonaiuto, Empire National Bank forced me to revaluate the relationships that I had with my current trusted advisors and I suggest that others do the same. I thought had a great relationship with my big name bank but as it turned out, I overestimated the strength of that relationship. After speaking with Rob, I realized that had I looked at that relationship more closely before I applied for the loan, I would have seen that trust and understanding of my business model wasn’t there. Working with a local community bank was a positive, eye-opening experience. Empire National Bank took the time to really sit down and look at the way my business works as well as my footprint in the community. Working Lunch with Rob was another great way to approach my challenge. Although the transaction had already taken place, it provided me with helpful advice from other local business owners to help prepare me for my next acquisition.