This week I talk with entrepreneur Emily Kerr about debt financing during the COVID-19 crisis. We discuss why women business owners have historically resorted to using personal resources to grow their operations, how cash flow plays a role in business growth, and how you can take advantage of bank loans if you’re struggling during a crisis. Emily Kerr is a successful entrepreneur with a passion for finance, leadership, and small business. She’s the Vice-President of Business Banking at Bank of Montreal (BMO), where she leads a team of relationship managers who serve small to midsize businesses across the greater Vancouver market. Prior to working at BMO, Emily worked at Johnson & Johnson and Royal Bank Canada (RBC). She also led several large-scale heritage home restoration projects and completed her MBA with a certificate in social impact. Now, she’s dedicated to helping women entrepreneurs and business owners get the financing and tools they need to grow their operations. BMO is the oldest Canadian multinational investment bank and financial services company. Founded in Montreal, Quebec in 1817 as Montreal Bank, its head office remains in Montreal, with its operational headquarters and executive offices located in Toronto, Ontario since 1977.In this episode we talk about:➤ Why women business owners tend to fund from their own resources (12:47)➤ Two of the biggest hurdles women business owners face (14:06)➤ How BMO is helping business owners respond to the COVID-19 crisis (16:12)➤ What the Business Credit Availability Programs (BCAP) are (18:00)➤ The long-term effects of borrowing capital (22:47)➤ What business owners need to think about when considering bank loans (24:42)➤ How business owners can approach lenders (26:44)➤ How to think about revenue/sales forecasts during this time (29:00)➤ How businesses are pivoting right now (29:33)➤ How a lender reviews an applicant’s cash flow forecasts (31:18)➤ Where business owners can find more information on BMO loans and programs (35:48)Keep ListeningCurious to learn more about debt financing? Check out my conversation with Rachel Hersh on invoice factoring or listen to my episode with Karen Fournier on government grants and incentives. Contact MeReady to transform your purpose to an impactful business financial story, profit, and joy? Schedule a chat with me at any time.Connect with Emily and BMO:➤ Website: BMO for Women➤ Website: Bank of Montreal ➤ Linkedin: Emily Kerr ➤ Linkedin: BMO