SoFi’s Post

College comes at a high cost – but often comes with high rewards too. Planning ahead is key. Here are 3 saving options to compare. #529CollegeSavingsPlan #FinancialPlanning #ThePappasImpastatoEkleberryTeam #Merrill

In honor of American Tent turning 10 years old this week - I am posting one lesson each day that I have learned (many the hard way) as an entrepreneur. Revenue is important. Profits are necessary. But CASH IS KING! They drilled that into my head during my MBA at the University of Michigan - Stephen M. Ross School of Business (thanks William Hall). But it doesn't become real until you are days from running out of cash in the middle of a pandemic. Our sales grew 4x overnight during the pandemic and we felt like we couldn't say no because it was essential that people get outside. However, our working capital needs also increased. Our inventory climbed to 5x what it was pre-COVID because it was scarce, many of our suppliers held inventory for larger jobs and prices went up. Thus we over bought in many cases to make sure we had enough safety stock. A/R grew 6x because we had more institutional customers (hospitals, schools, etc) who only pay on Net 30 day terms. Luckily, we were able to raise money from investors, secure a $1.2M EIDL loan through the SBA and get a line of credit through our bank (S/O Nicholas Spude, MBA & Ryan Rodi at BMO) We have now put into place a 3-sheet model (Income Statement, Balance Sheet, Statement of Cash Flows) for longer term cash forecasting (S/O Jason Harp). And a weekly cash management system (in Excel) that allows us to see weekly cash 4-6 months out (S/O Brittany Blohowiak). We have also developed inventory management and AR processes. As a result, we are able to manage cash much more effectively throughout the year. Stayed tuned for more lessons throughout the week.

🏀 Imagine going 18 and 0 📈 We are deep in the heart of the NCAA basketball season. Imagine how remarkable an 18-0 season would feel! Now, translate that to the financial world: in our latest blog post, we delve into the "Credit Events 2023 In Review", which showcases a similar feat in the world of credit strategies with our Destra Credit Strategies Indicator. Here are some highlights: ▪ Achieved a 'financial slam dunk' last year. ▪ All eighteen subcategories showed positive results. ▪ Averaged an impressive 11.18% increase. ▪ This success contrasts sharply with the previous year's average of -9.99%. Join us in this brief read where finance meets sports strategy, and consider how we can learn from the past as we step into 2024 . Read the full post here: https://lnkd.in/gudGT-b7 #Finance #InvestmentStrategies #CreditMarkets #FinancialSuccess #BasketballAndFinance 🏀💼

It's almost time for Andy Fogle to take the stage at Michigan Credit Union League & Affiliates's Executive Summit! Join Andy and Amanda L. Swanson, IMC M.S., Senior Director, Cornerstone Advisors, for a panel discussion on Navigating What Lies Ahead. We will discuss the common areas top credit unions are struggling with, what is happening in the industry and how will/can it affect credit unions, and what we see coming in the future in the industry that credit unions might not be aware of. #fintech #creditunions #memberexperience #digitalinnovation #digitalexperience

In this post we "talk our book," by explaining in depth our pair trade of shorting UPST with an offsetting long in SoFi. Importantly, we deconstruct the short thesis on SoFi regarding its decline in asset sales and the structure of its latest transaction. #sofi

My main hard money guys are pricing between 11-12.50% currently with 7-21 day closes. We’re executing quickly and competitively compared to the market at the moment. Saving clients from losing $EMD and more importantly, reputations. DM if you have a deal that needs saving #selfstorageinvesting #industrialrealestate #commercialfinance #hardmoney #LFGrow

Financial stocks can go up and down based on numerous factors. However, only a few issues can seriously impair a financial stock's fundamentals and stock - capital, credit and/or liquidity. When this happens, as an analyst and an investor, you better be careful. And if you think a company buying back stock will save you when it is dealing with any of the above issues, you are deluding yourself and your clients. Just my opinion, but my dog is currently nodding her agreement. And she never forgets previous lessons learned in the financial world. #doyourwork #askhardquestions #dontbeabagholder https://lnkd.in/gajYSrHA

Ever wonder why some lottery winners can build lasting fortunes while others quickly lose it all?   There’s a common belief that making money is the hard part. But keeping it is where the real challenge lies.   In ‘The Psychology of Money’, Morgan Housel puts it plainly:    “Getting money requires taking risks, being optimistic, and putting yourself out there. But keeping money requires the opposite of taking risk. It requires humility, and fear that what you've made can be taken away from you just as fast.”   So, don’t stop once you’ve made money. Instead, shift your focus to what comes next – safeguarding and growing that wealth through strategic planning and a calculated investment approach. #investing #investment #growth #saving #preservation #safety #caution #wealthmanagement #financialplanning #thepsychologyofmoney #cibc