Billboard Loans Blog

Dave Westburg on Billboard Lending
Billboard Lending

Dave Westburg on Billboard Lending

Jim Johnsen of Johnsen Fretty interviewed Dave Westburg of Billboard Loans about billboard lending.  We’ve reproduced the interview below. Dave, you’ve done a terrific job building Billboard Insider into a great source of information.  I enjoy reading it first thing each morning.  I feel very honored to sit in your seat […]

Outdoor Valuations September 2016
Billboard Values

Outdoor Valuations September 2016

Public outdoor company valuations shrank slightly during the third quarter of 2016 as this chart demonstrates: Public Company Outdoor Values September 2016 The average revenue multiple for the four public outdoor companies shrank from 3.74 times to 3.60 times.  JCDecaux, Clear Channel Outdoor and Outfront trade at a lower revenue […]

Billboard Business

Shareholder Agreements and Succession Plans

Billboard Loans has seen a lot of small outdoor companies who don’t have shareholder succession agreements. This is a big mistake. We’ve had two lending clients die suddenly. In each case their company was protected by a succession plan which allowed the business to function without disruption. What should a […]

Billboard Lending

Avoid the Equipment Leasing Death Penalty

Almost all equipment leasing companies except Billboard Loans have prepayment penalties. Sometimes the prepayment penalties are called yield maintenance clauses. Sometimes the prepayment penalty is a fixed % of the lease amount (5% in year 1, 4% in year 2, 3% in year 3…). The death penalty prepayment clause says […]

Miscellaneous

The Pros and Cons of Equipment Leasing

Many of you got your start leasing your billboards from Courtesy Finance. Courtesy is no longer around but companies like Geneva Capital write equipment leases. Here are the pros and cons of equipment leases. Pros of Equipment Leasing 100% financing. Because leasing companies understand equipment they will often lend 100% […]