9/15/22 Survival Guide for CPG Brands, Part 3: Borrowing Money
OVERVIEW
Experts share how debt can fuel the growth of an emerging brand and what entrepreneurs need to know about borrowing money. Panelists also discussed the role borrowing money can play in the lifecycle of your business and how debt can be a compelling tool to finance your company in a non-dilutive way.
This is part three of a four-part series to help entrepreneurs prepare for and endure the financial uncertainties of the current market. Join us for our finale of this series in November for Part 4 – Getting Profitable.
PANELISTS
Elliot Begoun, Naturally Bay Area Board Member and Founder and Champion of TIG Brands, kicked off the conversation with our featured guests
- Karl Boog, Chief Business Officer, Drip Capital
- Rob Glenn, Senior VP of Global Commercial Banking, Bank of America
- Michael Jones, VP Lending and Business Development, RSF Social Finance
- Chase Lindsay, Territory Manager, Camber Road
- Jennifer Palmer, CEO, eCapital
HIGHLIGHTS
A few highlights from the discussion:
- 14:22 – Jennifer Palmer, CEO, eCapital mentions the importance of a healthy balance between equity and debt.
- 24:35 – Rob Glenn, Senior VP of Global Commercial Banking, Bank of America discusses multiple ways to borrow capital and defines facility from a finance perspective.
- 37:00 – Karl Boog, Chief Business Officer, Drip Capital suggests that if entrepreneurs need debt, they should always look ahead if instead of just thinking only the present.
- 43:45 – Chase Lindsay, Territory Manager, Camber Road reminds listeners to find a good finance parter. Terms are important, but the company behind those terms can be just as, if not, more important.
- 45:18 – Michael Jones, VP Lending and Business Development, RSF Social Finance advises entrepreneurs to “be specific in what your financing needs are, what you’re going to do with the capital and how you’re going to repay it”.