Has your company opened a bank account or borrowed money recently? If not, you may be in for a rude surprise if you don’t know where your Articles of Organization/Formation and Operating Agreement or Bylaws are or what they say. Banks and Lenders are the TSA of corporate identification. If […]
Company: Eagle Outdoor Advertising Headquarters: 1447 N 175 E, Warsaw, IN 46582 Market: Northern Indiana Phone: 800-867-4467 Dan Walcott the founder of Eagle Outdoor started painting billboards at the age of fifteen. He literally “learned the ropes” by apprenticing for Lockridge Outdoor who hand painted billboards on site, hanging from a swing stage for […]
I have 35 years experience lending to out of home companies. My Billboard Loans business partner Dave Westburg and I have were reviewing one of our old out of home lending white papers and decided to write an article on how the out of home business has changed since 2000. […]
At Billboard Loans, we get a lot of inquiries for secured loans. Most out of home companies understand the general concepts of security and collateral but very few understand the details. Here’s a short lending quiz. Your lender has a security interest in all your assets.True or false. Your lender […]
Following up on the recent articles in Billboard Insider, I thought it would be beneficial to talk about the representations and warranties that lenders require. Typically, if you borrow, these reps and warranties are non-negotiable. They start the first day you borrow and extend “at all times any indebtedness exists.” (Quotation […]
Remember when you used to get an email full of spelling errors from a distant country saying that someone was dying to make you a multimillionaire if you’d only give them your contact info and bank information? The fraudsters have gotten more sophisticated due to the ability to scrape information […]
Many first-time commercial borrowers are shocked by the number and complexity of loan documents to get a “simple” business loan. As a retired banker, I can assure you it is no picnic for lenders either. Almost everyclause in every document has been added due to something that has gone poorly […]
This is the fourth of Billboard Insider’s out of home lender profiles. Our previous profiles have covered Alerus Financial, Stark Capital Solutions, YESCO Financial and Verde Capital. Out of Home Lender: Billboard Loans Transaction Size: $25,000 to $1 million Address: 1043 5th St., Kirkland, WA. 98033 Email: kenaltena@billboardloans.com Phone: 206-636-8478 Billboard Loans […]
I am very happy to have finally retired from banking, and I am grateful to Dave Westburg and John Weller of Billboard Insider for letting me write articles about out of home finance. Before I retired in July, it was clear that banks were tightening credit standards and terms. I […]
By Ken Altena, Partner, Billboard Loans, LLC. Did you know that in 1977 a bank almost put Lamar Advertising out of business? Here’s Keven Reilly Sr. quoted in Signs of Opportunity: How Lamar Advertising grew into the biggest billboard business in America. In the spring of 1977…I received an emergency […]
