http://hennessey.portagemedia.com Small Business Finance Simplified Mon, 08 Mar 2010 15:34:52 +0000 http://backend.userland.com/rss092 en By: Joe Romeo, Senior Business Development Representative, Hennessey Capital As the nation has observed the government bailout process, I would like to think we have learned one thing – conducting a business stress test is a valuable exercise.  We watched government require the banks to undergo stress tests to make sure ... http://hennessey.portagemedia.com/2010/03/08/conducting-a-business-stress-test/ By: Jeff Wright, Senior Vice President, Hennessey Capital In my 27 years in the asset-based lending and commercial loan workout business, I have observed many companies experiencing significant problems with operating performance. In a typical scenario, these businesses endure a substantial decline in revenues and/or are dealing with costs that are ... http://hennessey.portagemedia.com/2010/03/01/when-it-makes-sense-to-hire-a-turnaround-consultant/ By: Toby Dahm A horrible week came to an end with the worst moment of all - Jay had to inform his employees that he could not meet payroll that day. Instead of focusing on quoting new work, Jay had spent this week fielding calls from angry suppliers seeking payment and ... http://hennessey.portagemedia.com/2010/02/22/the-risk-of-undercapitalization/ By: Joe Romeo Profitability is an essential ingredient for business success, but too often leaders focus on the wrong things. When it comes to price avoid competing on price alone Strongly market your competitive advantage (create one if needed) to differentiate yourself from the competition; avoid competing on a price-only basis.  Continually work ... http://hennessey.portagemedia.com/2010/02/16/keys-to-enhancing-profitability/ By: Mike Semanco, President, Hennessey Capital When we do see the light at the end of the proverbial tunnel, companies need to be prepared to handle the pent up demand which builds in challenging times.  Business owners have spent the last 18 months streamlining operations and cutting where possible.  Now is ... http://hennessey.portagemedia.com/2010/02/08/preparing-for-new-growth-opportunities-in-a-2010-economy/ An article from this Tuesday's Wall Street Journal highlights the flexibility  that asset-based lending provides.  Weezabi LLC, the company highlighted in this story, is a prime example of how small businesses can use an asset-based line of credit to say "yes" to new business opportunities. Read the article http://hennessey.portagemedia.com/2010/02/04/asset-based-lending-grows-in-popularity/ By: Mike Semanco, President, Hennessey Capital I don't deny that 2009 was an exceedingly challenging year for businesses of all sizes. However, 2009 may prove to be a watershed year for the commercial finance industry.    The economic crisis and simultaneous traditional credit drought created an opportunity for the commercial finance industry to ... http://hennessey.portagemedia.com/2009/12/28/five-reasons-why-2009-was-a-good-year-for-the-commercial-finance-industry/ By: Jeff Wright, Senior Vice President, Hennessey Capital   I recently attended the CFA Annual Conference held in Las Vegas. The theme throughout the conference was “Opportunities. With the current lending environment being what it is and access to capital tougher to acquire, plenty of opportunities exist for asset based lenders ... http://hennessey.portagemedia.com/2009/11/25/a-look-at-the-annual-commercial-finance-association-conference/ Although SBA lending is down sharply in 2009 compared to 2008, the movement of new activity as of late, is a positive sign of good things to come.  Even a slight increase in activity will give entrepreneurs some level of hope that a bigger credit thaw will happen in 2010.  In ... http://hennessey.portagemedia.com/2009/11/19/sba-lending-down-but-not-out/ Detroit Free Press writer Susan Tompor sheds light on the challenges that lie ahead for small to medium sizes businesses, particularly in the manufacturing sector. As analysts proclaim that the recession is over, how do small manufacturing shops access the capital they need to re-set production and re-hire workers? Read the ... http://hennessey.portagemedia.com/2009/11/09/credit-shortage-threatens-supplier-growth/