Money Money Money

08-10-2009

Well it has been a long time since I've written anything and it just feels like the right time to start talking to you about what I do and how I try to help people... and it all seems to be about money, money, money.

Some people are looking for a way to earn a living.
Some people are looking for a way to make more money.
Some people need a loan.
Loans are for many different things.

It seems that in order to make money you need to get it to begin your journey.

What started out for me as a Business Broker finding sellers and putting them together with buyers has grown to include just about anything a business owner needs related to working capital and financing their business.

I'll try to come back soon and tell you more.

Mike Maiman

Business Owner Needs Cash Flow and doesn't know what to do...

A soft goods business is growing and to keep up with sales the owner of this business needs to purchase more and more raw materials to keep up with the demand for the products they have sold... although having orders is a Good Problem to have, this need for more cash in the business is a frustrating cycle for many people caught in this situation. Many people think they can just go to the bank and borrow the money but banks are what is called Asset Based Lenders and they want collateral to make a loan... collateral is real estate, etc. A bank will also take some time to make a decision and time is the enemy to an order which has a specific shipping date which this soft goods business has. So what are the options? Well, I am working with business this business owner on what is called an Unsecured Business Line of Credit which is basically a credit line issued to owners of businesses that they can use, if needed, at their option... these credit lines have just a few parameters and are simple to apply for... they do not require Financial Documents like tax returns and they are Stated Income credit lines for between $100,000 to $400,000 which can be in place in a matter of 10 to 14 days. These credit lines are from traditional lenders and the interest rates which are paid are on the amount of money used from the credit line only and this interest rate will depend on the borrowers credit... typically the range is from prime + 1 to prime + 4. This Unsecured Business Line of Credit is another alternative for owners of businesses like this soft goods business that gives the owner the cash needed and allows the owner to keep up with their growing business needs.

Thursday 03/13/2008

Just another day in the Business Opportunity, Business Funding, Business Coaching arena where things are never as easy as they look... Have a Seller who is being unreasonable about disclosing details of his business to a qualified ready and willing Buyer... so this deal does not look like it will happen... we just keep moving forward. Trying to get Sellers to understand the concerns of Buyers is very trying but I do and I try to put the Seller in the Buyers position... sometimes it works and sometimes it doesn't... but the goal is to have a Buyer who is successful and happy and that sometimes means deals do not happen.

Landlord issues when buying a business

When a business is sold to a new buyer and the seller has a Lease for their offices, store, etc., it is imperative and in many cases required that the Lease be assigned to the new buyer or a new Lease put in place for the new buyer. Sometimes this becomes a sticking point in a deal that is in escrow, that has been approved for a business loan and is ready to close except for this Lease issue. The professionalism of the Business Broker and the professionals they work with are the key to understanding how to solve this issue which potentially could sabotage the deal.

The final stages of a deal

There are always questions that pop up when someone is either on the buying end or selling end of any transaction. These questions are all valid and deserve answers before a final committment is made and money changes hands. This is the place for you to ask those questions! My partners and I will do our best to try to guide you to what is right for you... and you are different than everyone else... each transaction, no matter how similar it is to another transaction differs in the people involved and this changes the equation. Ask away and we shall send our opinions your way!