Tips for Financially Troubled Businesses Greensboro NC

Finding financing has always been relatively easy for established companies, provided that they have a track record of success in Greensboro. Most companies that have sales in the range of a million dollars per month can find financing from either their local bank or from other institutions. It’s a different story if your company is smaller though.

M.James McKee
Stearns Financial Services Group, Inc.
(800) 881-7374
324 W. Wendover Avenue, Suite 204
Greensboro, NC
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, ChFc, CLU, CPA, MBA

Gregory Yahn
Yahn Financial Planning
(336) 478-2363
7800 Airport Center Drive, Suite 401
Greensboro, NC
Expertises
Middle Income Client Needs, Investment Advice without Ongoing Management, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA

Mr. John C. Lowe, CFP®
(336) 510-5416
333 N. Greene St., Suite 400
Greensboro, NC
Firm
Northwestern Mutual Financial

Data Provided by:
Mr. William R. Savage Jr., CFP®
(336) 491-0891
301 N Elm St Ste 301
Greensboro, NC
Areas of Specialization
General Financial Planning
Key Considerations
Average Net Worth: $100,001 - $250,000

Average Income: $50,001 - $100,000

Profession: Not Applicable

Data Provided by:
Mr. William T. Heintzelman, CFP®
(336) 294-1811
3515 W Market St Ste 100
Greensboro, NC
Firm
LPL Financial
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Insurance Planning, Investment Management, Long-Term Care, Retirement Income Management, Retirement Planning
Key Considerations
Average Net Worth: $500,001 - $1,000,000

Average Income: $100,001 - $250,000

Profession: Business Executives

Data Provided by:
Dennis Stearns
Stearns Financial Services Group, Inc.
(800) 881-7374
324 W. Wendover Avenue, Suite 204
Greensboro, NC
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, High Net Worth Client Needs, Planning Issues for Business Owners, Estate & Generational Planning Issues, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, MSFS

Ms. Bonnie Scull Cienek, CFP®
(336) 230-0071
333 N Greene St Ste 506
Greensboro, NC
Firm
Triad Financial Advisors, Inc.

Data Provided by:
Mr. R. Sherwood Greer, CFP®
(336) 272-5680
328 E. Market Street
Greensboro, NC
Firm
Oak Ridge Wealth Management

Data Provided by:
Mr. Matthew A. Stratton, CFP®
(336) 510-5430
333 N Greene St Ste 400
Greensboro, NC
Firm
Northwestern Mutual

Data Provided by:
Ms. Linda P. Erickson, CFP®
(336) 274-9403
301 N Elm St Ste 301
Greensboro, NC
Firm
Erickson Advisors
Areas of Specialization
Elder Care, Intergenerational Planning, Wealth Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Not Applicable

Data Provided by:
Data Provided by:

Tips for Financially Troubled Businesses

Provided By:

Author: Marco Terry

Finding financing has always been relatively easy for established companies, provided that they have a track record of success. Most companies that have sales in the range of a million dollars per month can find financing from either their local bank or from other institutions. It’s a different story if your company is smaller though.

Everyone agrees that having the right capital structure with the right sources of financing is critical for the success of a company. The problem is that few institutions are willing to make a business loan or offer any type of business financing to small companies. Large institutions don’t like to lend to small businesses because they find them risky. In part they are right, small businesses have a high failure rate. On the other hand, a small business has a very low chance of succeeding unless they find appropriate funding.

Most business owners will try conventional sources of financing at first. And some will actually succeed in getting business loans or similar financing from their local institutions. But like all small business owners, they will need to show an established track record of success and will need to have substantial assets to back up the financing request. However, if conventional sources fail, few business owners know where else to go for financing.

One possible alternative is to use invoice factoring. One common challenge for small companies is working with commercial and government clients that pay in 30 to 60 days. This practice of offering terms usually ends up tying the company’s capital, restricting their ability to pay vendors or employees. This also restricts their ability to pursue new clients, since they lack the capital to service those accounts. Factoring invoices eliminates this problem by advancing you funds against your invoices. Instead of waiting for your client to pay – you can have the factoring company advance you the funds (less a discount). These funds can be used to pay existing obligations or be invested in new projects or clients.

A major advantage of a using accounts receivable factoring is that most company owners can obtain it relatively easily. To qualify, companies need to have a solid roster of commercial or government customers. Companies also need to be free of major issues – or if they have problems – they need to have a turnaround plan in place.

The reason accounts receivable factoring is easier to obtain than other sources of financing is that they look at your invoices from customers as their main collateral. This allows companies that have a solid base of clients to use that as leverage to fund operations and growth.

About the Author:

About Commercial Capital LLCCommercial Capital LLC is a leading source of business financing and provides competitively priced invoice factoring programs to small and medium sized companies. For information on our invoice factoring programs, please call (877) 300 3258.

Article Source: http://www.articlesbase.com/corporate-articles/how-to-finance-your-company-if-you-make-more-than-300000-in-monthly-sales-1070077.html