James McNamara

When the PMI stays below 50, manufacturers feel the squeeze. It signals economic contraction, tighter budgets, and fewer projects getting approved. October 2024’s PMI hit 46.5, marking seven straight months under the threshold. If you haven’t been paying attention to the PMI, now’s a good time to start—it’s a key indicator for what’s happening in your industry. Why This Matters: With budget constraints tightening, even high-ROI projects aren’t a sure thing. But rather than feeling stuck, you can still plan strategically. Here’s How to Stay Ahead: Focus on High-Impact Investments: Choose projects that offer immediate efficiency gains. Upgrading your e-commerce platform can streamline transactions and improve customer experience, while automation solutions can cut costs and boost productivity. These types of investments give you the biggest bang for your buck when resources are limited. Invest in Customer Retention: Retaining loyal customers is critical in a downturn. Enhancing the customer experience through seamless online interactions can keep your clients satisfied and coming back, helping to stabilize revenue even when times are tough. Stay Flexible: Be prepared to pivot as conditions change. If the PMI shows signs of improvement, having scalable projects ready to launch can set you up for quick wins. Focus on solutions that don’t take 12+ months to implement—quick, impactful projects ensure you’re agile and able to capitalize on opportunities when the market starts to recover. Even if inflation eases, input costs remain high. Finding ways to improve operations and control expenses can make a significant impact. PMI data doesn’t tell the whole story, but it provides valuable insights for strategic planning. #Manufacturing #PMI #BudgetStrategy #CustomerRetention #Efficiency

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Some of you have been reaching out asking which banks I’d recommend for an SBA loan. Here are some suggestions: 1) The best SBA bank is probably not your personal bank/credit union. SBA loans are specialized, and most banks know how to handle them efficiently. 2) Below is a link to the top SBA lenders by volume. On that list, I’ve worked with Live Oak Bank, Byline Bank, and U.S. Bank, but didn’t end up closing with any of them for various reasons. Nationwide, those three are good options. US Bank will be the toughest of the three to get approved, but they have sub-prime interest rates on SBA loans and they can fix the rate for a portion of the term…crazy, I know. But that’s why they’re tough to get approved. 3) Colin McNulty - He was creative and took a chance on a couple of idiots with no industry experience and lent them way too much money. 🤣 He’s also been able to help a connection of our buy out a partner with an SBA loan. Also a nationwide lender. 4) If you’re in Utah, Melissa Hurren at Central Bank of Utah. Their footprint basically only covers Utah, but Central Bank has been so creative and was incredibly fast. So if you’re in Utah, I’d definitely hit them up. https://lnkd.in/gvuJ-myM

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🌟 Exciting News! 🌟 Today marks the day we've all been waiting for! We have a fantastic turnout with 19 registered participants ready to dive deep into industry insights. If you're still on the fence, let me assure you: it's absolutely worth your time! Join us for this interactive lesson where we'll be sharing invaluable knowledge and experiences. Don't miss out! Register now and be a part of this enriching experience. See you there! #IndustryInsights #ProfessionalDevelopment #RegisterNow

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Reducing expenses while investing in growth...the great balancing act for CFOs. According to UScellular’s CFO, Doug Chambers, a Shared Service Model for Finance is a critical element. In his interview with The Wall Street Journal, he shared that the organization has seen enhanced operational efficiency and scalability through the model which paves the way to more easily justify investments in new technologies and automation. By embracing best practices and innovation, Chambers is driving talent development and creating opportunities for professional growth. How is your organization balancing costs while planning for the future? #finance #transformation #scalability #CFOs #Treasury #growth #treasurymanagement #talentdevelopment #treasurers #liquiditymanagement Kyriba

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We’ve been approved for 6 SBA loans in the last 4 years for 5 different acquisitions. Here are my 5 pieces of advice for anyone looking to get an SBA loan: 1. Apply at many banks -- For every loan we got approved, there were 3-5 banks that said “no.” Even though it’s an SBA loan, each bank ultimately dictates the deals it takes and your deal won’t fit all banks’ lending requirements. You’ll need to find the ones that do. 2. Ask your banker/loan officer for the bank’s requirements early -- The loan officer wants to get your loan done as much as you do. The loan officer will help you understand what the underwriters want to see. Rely on the loan officer's advice. 3. Find banks with an internal SBA department -- Banks with internal SBA departments typically approve SBA loans without sending the loan for SBA approval. If the bank sends your deal to the SBA for approval, it’s going to drastically slow down your loan. 4. Take multiple banks as far through the approval process as possible -- This can save 3-4 months of your time. We’ll sometimes have 2-3 banks that are almost all the way through the approval process before we choose the bank to close with. This costs extra money, but it’s too painful working on approval with only one bank only to have the bank deny the loan…It’s worth the extra money to save 3-4 months of time. But as soon as a bank applies for an E-Tran number with the SBA, you’re stuck moving forward with that bank…so be careful one of those banks doesn’t pull that number too early. 5. Tax returns are key -- The banks require a valuation in most cases. The valuations are mainly based on tax returns, not internal financial statements. If a business owner is pushing personal expenses through the tax returns to show a lower profit, they’re screwing themselves over on the valuation and the ability to get an SBA loan. Hope this is helpful if you’re planning to get an SBA loan. Feel free to shoot me questions in the comments or DM if you have any.

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Angel investing isn’t what it used to be — and David Grisell’s got the latest scoop, followed by an in-depth dive with Paul Clark on Convertible Notes: why they’re used, when they work best, and what both founders and investors need to know. Plus, Paul closes with recent critiques of Southeast angel investing, sharing insights (and his LinkedIn addiction). Listen now: https://lnkd.in/e86iSdhn

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Economic Development and Developers in the News # 150 Econ dev news from 95 economic development executives and organizations in 24 states.

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Good article by CUInsight.com! Catchy title (given the coming election) and great points as to why 2025 strategic planning is more critical than ever: 1️⃣ The number of credit unions in the United States decreased notably between 2013 and 2023 2️⃣ Member expectations have risen dramatically given the rise of fintech lenders and the customer experience they provide 3️⃣ The pace at which technology is evolving is unprecedented and CU stability cannot come at the cost of stagnation 4️⃣ Core and LOS-integrated tools help CUs stay connected to and support their communities Conductiv is excited to help credit unions navigate these challenges and make "bold decisions" that support member needs and evolve as member-owned cooperatives! https://lnkd.in/ewgbws8q

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Syndigo's SVP of Product Benny Blum was recently on The eCommerce Edge’s podcast. He and host Jason Greenwood dive deep into the intricacies of integrating tech stacks and the evolution of the product data lifecycle. 👉 Check out the episode on YouTube: https://ow.ly/B9e830sFh5k Listen to discover valuable insights on #PIM and #MDM solutions, and learn how Syndigo’s innovative data management strategies can transform your business to deliver exceptional customer experiences. #Podcast #TechTalk #DataManagement

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Thanks to the Atlanta Digital World Summit for having ATPC Executive Director H. West Richards on your podcast. From ADWS: "H. West Richards is the King of Transaction Alley in Atlanta, GA! Did you know that 70% of all US digital transactions go through Atlanta? Did you know that the NYSE runs through Georgia? Learn about this and so much more! H. West Richards is an incredible executive in Atlanta, GA -- listen up!" https://lnkd.in/gUcCeYpu #Fintech #fintechsyariah #fintechfactory #Fintechtime #fintechasia #fintechdisruption #fintechmuslim #fintechnation #fintechs #fintechsupercharger #fintechpodcast #fintechph #FintechtimeDergisi #fintechttravels #fintechw #fintechmeetsimagination #fintechweek #fintechindonesia #FinTechHiveDIFC #FinTechHive #fintechlife #FintechBay #FinTechAD #fintechdude #fintechstartup #fintechclub #FINTechHack #FintechBekasiBranch #Fintech2025 #fintech101

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We meet weekly with businesses that are leveraging legacy technology to run their business. This is negatively impacting customer and employee experience, not to mention the risk of unsupported platforms and software. We see a stark contrast between organizations that are innovating and those that are not. ChoiceOne Bank is one of those organizations that are innovating and breaking an industry mold. I can't emphasize enough the importance of establishing a roadmap and a plan to position your organization for the future. Be nimble while providing an exceptional employee and customer experience!

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When value exceeds price, price is no longer the issue. Met some heavy hitters trailblazing managed services for the small to mid-market sector at an intimate event in Denver. On our panel about product differentiation, Antwine shared an instance where his prospective buyer objected to his seemingly high rates. Antwine was able to align the personalized needs and mitigated risks of the buyer with the value of the contract. They are still his happy customer to this day. Antwine’s company has offices and customers across the globe, he gets it. 💜💜💜 this sales lesson!!! So liberating!! “It’s out of our budget” and “Is that the best you can do?” are programmed auto-responses from seasoned buyers and negotiators. Simply acknowledge the complaint and re-ask. If resistance persists, go back to selling and reestablish value alignment. Then ask again. Guard your time and attention, only justify complaint if it resurfaces. To wrap: Bring A-game if across table from Antwine Jackson. Treat objections like complaints, only justify if it resurfaces. When value exceeds price, price is no longer the issue. Per usual, please call me out or/and share similar experiences. Enitech , Antwine Jackson , bvoip , MSP Initiative P.s.: intimate event was Community Minds. First event I’ve ever attended where none of the vendors tried to call me to action, they just shared their success methods and we workshopped them out. I dare you to mark your calendar for the next one near you. MSP Initiative puts them on. Shoutout to George Bardissi and Ken Patterson for putting it together, more to come on that…

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SBA 7a Loans for Business Startups: Better Options? https://lnkd.in/gW7kNYas Securing funding for a startup can be challenging. The SBA 7(a) loan for startups provides entrepreneurs with a financing option for their capital needs. This article examines the key aspects of SBA 7(a) loans, including requirements, interest rates, and terms. Entrepreneurs can explore this valuable financing option for their business venture. Key Takeaways of SBA 7a Loan For Startups - SBA 7(a) loans offer up to $5 million in funding for startups and small businesses. - Interest rates are usually 1% to 1.75% above the Wall Street Journal Prime rate. - Loan terms range from 7 to 25 years, depending on the use of funds. - The application process typically takes 60 to 90 days from start to finish. - Businesses must be for-profit, U.S.-based, and meet SBA size standards to qualify. Fuel Your Business Growth with the SBA 7(a) Loan Program: Flexible Funding for Small Businesses! The SBA 7(a) Loan Program is a versatile financing solution designed to meet the diverse needs of small business owners. Whether you need working capital, funds for expansion, or resources to refinance debt, this program provides the support to help your business thrive. The SBA 7(a) Loan is tailored to empower small business owners with the flexibility and funding needed to achieve your goals. Schedule Your SBA 7(a) Loan Consultation Now https://lnkd.in/e8duBvFy #SBA7a #SBA #SBALoan #SBALoans #BusinessLoans #Financing #Lending #WorkingCapital #Credit #Funding #SmallBusiness #SmallBusinesses

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This article discusses the need for retailers — from standalone Mom & Pop stores to national, multi-location brands — to understand the demand from their customers, particularly during the holidays, and suggests that software from Butlr, MRI Software, and Mallcomm can help.

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Community-based health is transforming...learn about the strategic shift from grant-based to sustainable Medicaid funding models for community organizations in our latest blog. A vital shift for long-term success!

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