EP 7: When Should You Might NOT Pay That Loan Back Early with Cyndi Thomason Artwork

Process To Ecom Profits Podcast

The Process to Ecom Profits podcast provides tactical tips, techniques, and long-term strategies to help e-commerce business owners to have the profitability, freedom, and sustainability they were hoping for when they started their business. Our hosts have years of experience helping eCommerce entrepreneurs to build and sell the business of their dreams. If you have been selling on your own Shopify site, Amazon, Walmart, eBay, or Etsy this is the show to help you finally get control and get ahead in your online business.

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Process To Ecom Profits Podcast

EP 7: When Should You Might NOT Pay That Loan Back Early with Cyndi Thomason

April 18, 2022 • Robyn Johnson

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.