Process To Ecom Profits Podcast
Process To Ecom Profits Podcast
EP 7: When Should You Might NOT Pay That Loan Back Early with Cyndi Thomason
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Especially with the EIDL loans that came out in 2020, many sellers may be looking at potentially paying back their loans early. While sometimes this can be a good idea, sometimes you want to look at the amount of interest, your ability to borrow again, and your future growth plans before making a final decision.
Links Mentioned:
Cyndi Thomason - Bookskeep.com
Robyn Johnson - Marketplaceblueprint.com
Mike Micaholwicz- MikeMichalowicz.com
01:33 When should you consider not paying back that loan early when you have access to the capital?
02:22 Consider if paying your loan off early will save you money.
03:19 Why might you not want to pay your loan off early?
08:06 When is it a good idea to pay loans off early?
11:20 Understanding the role and importance of forecasting.
13:50 Examples of how paying loans off early have not worked out for Cyndi’s clients.
18:13 Avoid debt spirals that can follow loans for Amazon sellers.
22:20 Taking a look to adjust projections to account for the pandemic leap in sales velocity.
24:30 What budget do you have allotted to test new ad strategies, products, and distribution channels?
29:26 Five Minute Fix: Understanding lead times and how that impacts your overall stock levels.