I often joke with my banking friends, “The only time you lend money is when a business doesn’t need it because if they show that they need it you won’t lend to them.” This isn’t totally true but more often than not it seems that way. Doesn’t it? What is important in this statement? The [...]

A staffing company challenged with a short time in business and running just short of the break-even point, had the opportunity to acquire a larger staffing company and put their company on the map and into the black. However, a minor problem arose: After talking to every bank they could think of, no one would [...]

Contract Fulfillment and Purchase Order Fulfillment are both a race against time. Your reputation and your profits are on the line here so be prepared. Ideal Circumstance: You have open terms with your supplier and possibly a bank line to support covering labor, etc. Hopefully the customer pays before the bank line is drained and/or [...]

Understanding banks is simple yet people continuously fight with some basic concepts. I have never, and I mean never, not known a bank to do everything within their power to help someone. Here are the two “F Words” of banking: FDIC and the “Five C’s” What is FDIC? Federal Depositors Insurance Corporation (www.fdic.gov). Simply put, [...]

Calling us first we suggested that he speak with the bank but his first attempt with the bank was the answer we predicted: They had done as much as they could and his loan was new … so he would have to wait. His return call prompted us to meet with his bank and showing [...]

Having won a state contract with the Department of Natural Resources, a contractor whose business had slowed down was suddenly confronted with a good problem: Contracts. The only tough part was that his bank lines had been curtailed with the economic slow down meaning, he was challenged to fulfill and perform with no working capital. [...]

A problem? No! Although he called us in a panic we got the additional funds approved on the spot and paid off the old note with a restructured agreement! This story continues. With his loan set up with what is called a ‘balloon payment’ (this means that at the end of a period of time [...]

The call was a tough one: Our client had a written contract with open terms stating that they would have 45 days to pay their bill – end – but on the Friday before the Monday that the product needed to ship our client received a call and the supplier demanded 50% up front or [...]

Can you imagine a factoring company setting up a contract with your company knowing full well that your customers are not going to pay you in time and too that this is going to put you and your company in financial duress? If you know of this having happened please share it with other here [...]

When their bank and several other funders turned them down, a growing clothing manufacturer in New England was referred to us.  We worked out an alliance with their bank that allowed us to complement the existing bank loan and credit line, enabling this company continued growth. Why is this an important success story? First off: [...]