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Well the secret to creating wealth it's not so secret anymore according to my next -- there are billions of dollars in newly available government money.
Just waiting to be claimed by October ignores or small businesses that can watch you on the path to success.
Here to explain Chris -- founder and CEO of mercantile capital corporation he is the author.
The entrepreneurs secret to creating wealth -- Chris.
Some -- say this but you actually know how to do what you say there are billions of dollars -- -- this money.
Well every year -- year.
Yet congress actually allocates money for the SP five before program among other rescue programs -- and literally every year for as long as I've been in small business lending almost fifteen years now.
There is money left on the table every single year billions of dollars in fact.
It really comes from the fact that small business owners just are aware of this tremendous smarter financing vehicles so what people are skipping over is cheap money.
That they can -- to build their business right.
That's exactly it well it's not so much their business as it is to create wealth for themselves one of the huge advantages a small business owners have Jerry.
Is that they can actually -- themselves risk as opposed to getting their landlord wealthy.
And I talk about that extensively in the book exactly the strategy sort of from -- -- -- saying its own your own commercial real estate where your business -- because -- does that make -- rich.
Well makes you -- you wealthy over time because number one if you had a brick and mortar business you have to have a facility.
It's better to pay yourself that -- money in the pay your landlord number two it's an appreciable asset.
And right now we have probably a once in a generation maybe even a lifetime opportunity for business owners to buy their own commercial property at discounted rates.
Getting interest rates that are at historical lows is just a phenomenal -- tuning.
For the typical small business owner and one -- my -- my favorite things that you say is work on your business more than you work in near what does that mean.
Work -- your business what are you look at it -- more -- I mean a lot of business owners don't step away from their business long enough to understand it.
They've they sometimes they get so caught up with the blinders on they're so focused.
Dealing with customer problems and things of that nature but that you know they wake up seven years later and they've wasted all this money on rent for instance when they could have actually taken -- There's got to -- it will only strike earlier on its business rather than on your little pop art and it's about working on the business like I cannot just didn't.
I like that.
Here's something IQ you say you can easily qualify.
As being green project now we make fine the federal government giving hampering dollars all the time that it's a waste of money -- -- However if you could take advantage of this program.
You might want -- do it how.
How do you qualify.
Well one of the -- you qualify -- you've got to actually demonstrate that the project saves energy.
And can be deemed green now environmental engineering firms can certify this process oftentimes it's nothing more than.
Having some solar panels having some extra insulated glass windows things like that but here's the huge benefit -- when you do that.
Normally you're capped out at about five million dollars of eligible SP eight dollars if you're a green project.
There's no cap on it so theoretically you continue to buy well by wolf producing real estate for your small business.
While that's very very interesting Chris thanks for coming on tonight -- -- book sounds like it's fascinating good luck with that thanks for your help tonight I appreciate it.
Thanks so much your take care.
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