Has your business outgrown your bank? Aug 23

dress shoes

Companies are like people—they can change, for better or worse. Are your financial partners growing alongside you or is the relationship stuck in a rut, with each annual review simply a roll-over of the prior year’s facilities?  If you answer yes to two or more of the following questions, you may have outgrown your bank: Continue Reading

Business owners need to have corporate exit plans at the ready Jun 28

Over the past decade there has been much speculation over when a wave of baby boomers would sell their businesses. Study after study predicted a mass transition that never came. As a result, there has been a shortage of supply that has pushed up prices for good businesses. Why are business owners staying on well into their retirement years?

Bob Lawrence, certified planning adviser at Veer Business Advisors, advises business owners on what it takes to be ready to sell.

Continue Reading

Capital Insights: Why Covenants Matter – Part 1 May 31

Part 1: Capacity (A Two-Part Series)

Financial covenants (or ratios) are to lenders what blood pressure, cholesterol and BMI are to doctors; they are measures of overall corporate health. Many entrepreneurs don’t understand why these covenants matter, or what their lender is trying to accomplish by testing them. More importantly, they don’t invest the time to understand and negotiate a covenant structure that accurately measures what matters to their business.

Continue Reading