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Main Street Financing Challenges

My blog focuses on practical financing topics facing small business owners in today's difficult market.
Latest Posts

Poor Customer Service Can Be Very Costly
November 05, 2009, 1:30 PM
Poor customer service can break a company, especially when your customers are expecting you to provide critical services to their company. Does your company stand out among those that win in part by having great customer service?

CIT Group Bankruptcy and DIP Financing
November 02, 2009, 9:25 AM
Yesterday, CIT Group, Inc., the fifth largest private commercial finance company in the world filed Chapter 11 bankruptcy. The impact on affected parties is different depending on who you are. Small business owners using CIT should be every vigilant.

Good Videos on YouTube – SCORE Chicago
October 31, 2009, 8:10 AM
SCORE is a nationwide non-profit organization dedicated to helping small businesses succeed.The SCORE Chicago chapter has produced a number of short videos focused on small businesses. The information provided on them is good.

Don’t Get Too Excited about Q3 GDP Figures
October 30, 2009, 10:35 AM
Yesterday, President Obama's economic counsel released the Gross Domestic Product (GDP) figures for the 2009 third quarter ending September 30, 2009. These figures were significantly inflated by several temporary stimulus programs and don't correlate with the performance of several major ...

Don't Become a Victim of Fake Financing Scams
October 28, 2009, 6:35 PM
With small business credit getting tighter by the day, more and more innocent business owners are falling victim to crooks and thieves who are determined to separate honest business owners from their money.

Keeping Accurate Mileage Records
October 27, 2009, 2:40 PM
Do you know the IRS guidelines for mileage deductions well enough to oversee your employees? records and make sure everything is in compliance in case of an audit?

Innovation in Business Practices Working Well for Some SMBs
October 27, 2009, 2:35 PM
Shoring up cash flow processes helped get one retailer into the black for the first time in two years. Here's what else the company is doing differently to achieve greater success.

Dorothy, We’re Not in Kansas Anymore!
October 26, 2009, 1:05 PM
Description: If you aren’t convinced that the U.S. economy and demographics aren’t drastically changing before your eyes, here are a few staggering statistics and thoughts that might help you realize we are in the middle of a monumental social and ...

Message to Congress: Extend Temporary SBA loan Provisions!
October 23, 2009, 10:05 PM
Congress needs to act quickly to extend the temporary loan guarantees and other SBA program enhancements provided for in the stimulus plan last winter. Failing to do so will cause serious harm to small businesses seeking SBA loans.

Tatum LLC Releases October Survey of Business Conditions, Results Mixed
October 22, 2009, 12:15 PM
Each month, Tatum LLC releases its Tatum Index of Busienss Conditions. In the most recent report, Tatum reports a continued overall improvement with several key areas including unemployment and access to capital weak.



Latest Comments in Main Street Financing Challenges posts

I strongly agree with your closing statement: ?The first loss is the least.? So if you are a CIT factoring customer get out, take whatever loss you must, but move to a more stable financing company as soon as possible.

On July 17, 2009, I posted a blog about CIT's demise and the effects it would have on small business. http://www.universalfunding.com/blog/?p=182

Let's hope this turns out okay.
By: Laura Walker on 11/3/09 at 10:56 AM
CIT Group Bankruptcy and DIP Financing
Nice post. Liquidity ratio is calculated by comparing a company?s most liquid assets. The greater the coverage of liquid assets to short-term liabilities, the better as it is a clear signal that a company can pay its debts that are coming due in the near future.
By: Tonu on 10/14/09 at 4:27 AM
Nuts and Bolts of Borrowing Series: Liquidity Ratios
When it comes to financial performance, every organization wants to be among the best performers. However, many organizations do not know how to achieve this standard. If there is one way to improve business, it is through benchmarking with indicators. Not necessary that this strategy will find a way to beat your competitors. This is more bent on finding ways to improve your business. Benchmarking with indicators will give you an edge over your competitors.Financial performance defines how well a company is performing but not why it is performing that way. Business benchmarking can answer that question as organizations compare processes and identify performance gaps and areas for improvement. With the use of benchmarking and business performance systems, many organizations are improving efficiency and performance by reducing costs.
Benchmarking is a way to find out whether you are on the right track by being able to satisfy certain aspects of the market and excel in which your competitors are also doing. This business tool is necessary for any organization to succeed. Comparison with your competitors is also good for business. If you find that their practice is more effective and you want to implement the same in your business as well, you can do so with the help of benchmarking.

...
By: Gonzaleves on 10/14/09 at 4:23 AM
Financial Benchmarks for your Business - Performance Ratios
I completely agree with you that Finance ratio analysis is the most complex aspects of Business management. One should monitor the periodic performance increase against the financial plan. In order to know what the financial position of a company is, one must compare the true figures extracted from the financial statements to other figures.Tell me more about various types of financial ratios.

...
By: Gonzaleves on 10/14/09 at 3:56 AM
Financial Benchmarks for your Business – Liquidity Ratios
Sam, you allow as how this may seem a minor point. I agree with you that the seemingly minor points can make a lender wonder what other major points they have not yet noticed.

As soon as a lender gets a sense that the business owner does not understand the basics, or that the financial statements misrepresent the health of the business, the chance of your loan diminishes significantly.

If you are providing cash-basis statements (perhaps to go with your cash-basis tax returns) I suggest my clients offer the Accounts Receivable aging and Accounts Payable aging as a separate schedule without having to be asked. It shows the lender you are aware of the importance of these schedules and more likely to be on top of your collections.
By: Linda Keith on 10/4/09 at 6:48 PM
Nuts and Bolts of Borrowing Series: Allowance for Bad Debt

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