Tips for Financially Troubled Businesses Greenville NC

Finding financing has always been relatively easy for established companies, provided that they have a track record of success in Greenville. 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.

Mr. James G. Taunton, CFP®
(252) 756-4700
PO Box 816
Greenville, NC
Firm
Professional Planning Services
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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



Data Provided by:
Mr. Richard C. Britt Jr., CFP®
(252) 355-1761
695 E Arlington Blvd Ste 100
Greenville, NC
Firm
Wells Fargo Bank - The Private Bank
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Elder Care, Estate Planning, Insurance Planning

Data Provided by:
Mr. Stephen C. Brody, CFP®
(252) 321-0362
223 Commerce St
Greenville, NC
Firm
Greenville Financial Advisors

Data Provided by:
Mr. Denny W. Purser, CFP®
(252) 355-0032
710 Cromwell Dr
Greenville, NC
Firm
Purser Financial Solutions
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Education Planning, Estate Planning, General Financial Planning, Insurance Planning, Investment Management
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. Hugh W. Thompson, CFP®
(252) 756-6942
704 Cromwell Dr
Greenville, NC
Firm
Ameriprise Financial

Data Provided by:
Mr. James Robert Buie, Jr., CFP®
PO Box 752
Greenville, NC
Firm
Wells Fargo Advisors

Data Provided by:
Mr. Samuel R. Hylton, CFP®
(252) 321-7808
1440 E. Arlington Blvd.
Greenville, NC
Firm
Scott & Stringfellow, Inc.
Areas of Specialization
Retirement Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Business Executives

Data Provided by:
Mr. David Hunt, CFP®
(252) 756-7005
205 Plaza Dr Ste B
Greenville, NC
Firm
Raymond James Financial Services, Inc.
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Education Planning, Elder Care
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. John Keais Hoyt Jr., CFP®
(252) 756-8222
1710 E Arlington Blvd
Greenville, NC
Firm
Wells Fargo Advisors, LLC
Areas of Specialization
Asset Allocation, Charitable Giving, Comprehensive Financial Planning, Debt Management, Education Planning, Estate Planning, Insurance Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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



Data Provided by:
Mr. E. Joe Moore, CFP®
(252) 531-9882
323 Clifton Street
Greenville, NC
Firm
E JOE MOORE CPA CFP PA

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