Small Business

A top-heavy payroll adversely affects profitability. Here’s how to streamline your staff and increase your bottom line. Urban Dictionary defines the term “800-pound gorilla” as an “overbearing entity in a specific industry or sphere of activity.” Thus, it’s fitting that the term is used to describe the overbearing presence of payroll in many small business…

Entrepreneurs call us every day in a panic. Their debt has become unmanageable, collections have started and cash flow is collapsing. But what weighs on them most isn’t the numbers—it’s the shame. They see a debt workout as a sign of defeat. In reality, it’s the most rational, ethical move a business owner can make…

Having personal support when you’re building your business is important. Positive relationships boost your confidence and your creativity. Strong connections provide a healthy foundation for your long-term success. You may have an honest, trusting relationship with your banker. But remember, the banker sitting behind the desk is acting as the ‘face’ of the bank. And…

Ego is a powerful and important tool to support success in the challenging world of entrepreneurship. Ego is the source of energy that tells you, you can accomplish anything. It is what drives an owner to work 80 hours per week, climb over impossible barriers and accomplish amazing feats. It is the sum of competitive…

Entrepreneurs have unlimited tenacity. They never give up. They never stop. They know the difference between running a hobby and a business. They believe in themselves and their company’s mission passionately. They know they’re going to succeed—if they could turn the corner, get that big order, attract investors or get a loan. Entrepreneurs’ tenacity drives them…

The bank called. Your loan officer said you were unethical because you didn’t make the loan payment this month. The conversation ended with this advice, “If you were honorable, you’d do whatever it takes to pay this loan.” The loan officer’s suggestion isn’t only exploitive — it’s incorrect. If you chose to make payroll this…

Obtaining financing for your small business may be near impossible these days, at least when it comes to traditional bank lenders. Ever since the recession, banks were badly burned and won’t be forgetting that anytime soon. When the credit crisis erupted in 2008, banks began tightening their purse strings under severe financial pressures. The major…

Many of our clients come to us with very poor credit scores. This is a symptom of the small business owner leveraging everything they can to keep the operation running, including their personal credit. While it is important to note that in the vast majority of SBA workouts personal credit is not impacted, our clients…

Learn more about the most important debt forgiveness workout. While most debt forgiveness experienced in workouts that we focus on is on the secured bank debt, the big loan, the bank being with high value and a well-secured creditor, as it is secured by your assets and your guaranty in most instances and thus is…