Business
As a female founder and CEO, you might think that debt in your business is a bad thing. However, did you know that if you’re running a business, chances are, you likely already have business debt? One form of business debt is paying your suppliers a few days after they send an invoice. Now, this is a type of short-term debt financing strategy. There are many other ways you can leverage business debt finance to build and grow your business. You just need to learn how.In this episode, I’ll discuss the calculations you need for determining if your business is ready to take on debt as a financing strategy. Debt doesn’t have to be scary. In fact, there’s a wealth of possibilities you can explore if you have the right mindset. So tune in to this episode to learn more!Episode Highlights[01:35] Business Debt and Debt Financing[03:09] Thinking Like a Lender Tip #1: Debt Service Coverage Ratio[04:36] Thinking Like a Lender Tip #2: Business Debt-to-Income Ratio[05:25] Thinking Like A Lender Tip #3: Assessing Debt Payment[05:49] The Importance of a Financial Forecast[06:51] Making Proactive and Strategic Business DecisionsEnjoyed This Podcast?Write a review and share this with your friends.Connect With MeReady to transform your purpose into an impactful business financial story, profit, and joy? Schedule a chat with me at any time.ResourcesVisit Christina Sjahli’s website for related episodes on the Her CEO Journey™ Podcast.The Circular Approach: Decreasing Plastic Waste with a Sustainable Business - The Journey of Plaine ProductChanging the Future of Business: Slow Growth and Sound Financial Planning are the Secrets - The Journey of BadgerUnderstand whether your needs fall under long term debt financing or short term debt financing with the previous episode of Her CFO Tips:Her CFO Tips: Financing Strategy Based on Short-Term versus Long-Term Capital NeedsDownload the Debt Service Coverage Ratio Calculator, so you can see if your business can handle debt!