Today we welcome Ross Mcclain of Rapid Business Systems to the podcast. Ross explains to us what a feasibility study is, and the importance of having a credentialed firm do the study so that the bank will accept it and what is involved in it. Ross gives us some highlights of feasibility studies. He gives us some examples of details they have discovered, that have been beneficial to the company being evaluated under the feasibility study.
Things like pulling building permits that have shown a competitor was already building a business right down the street from where they were going. A discovery like that could save millions.
Ross shows why borrowers, particularly startups, want to seriously consider a feasibility study whether the bank requires it or not.
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