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smlBIZ Financial Solutions SUCCESS STORIES
Manufacturer/Wholesaler
of Consumer Goods:
A 15 year old company with annual sales over $2.0 million struggled to
compete, service its bank debt, pay vendors on time and provide a livelihood
for the owners.
Our assessment lead to the shuttering of the manufacturing activities, settling up with the bank and other creditors (at a bargain), relocation and restructure of business to a sales organization. Today the firm enjoys record earnings, cash flow and relations with its creditors.
Retailer
of Consumer Hard Goods:
Two successful corporate managers decided to go entrepreneurial and invested
in and started up a retail sporting goods operation. Funds for this start
up came from 401-ks, savings, investment accounts and a community bank.
Less than 18 months later, it hit the wall. We were hired to guide the
owners in an assessment of the operations and ultimately the implementation
of a liquidation plan.
We were able to give the client a negotiating edge and strategy with the
bank after we reviewed the loan documents. Our banking expertise (we are
not attorneys and do not practice law) allowed us to recognize irregularities
in the loan documents that were used by the client to achieve a reasonable
settlement with the bank that they would otherwise not have received.
Manufacturer
of Industrial Lumber:
Our client was an Angel Investor who attempted to finance the emergence
of the manufacturer from chapter 11 bankruptcy. Upon the conclusion of
our assessment, it was determined that a major misstatement of facts was
the predicate for the investment and that liquidation of the entity and
subsequent recovery action were the best courses of action. (Not all stories
end happily)
Community
Bank:
Our client was the controlling shareholder of an Illinois State Chartered
commercial bank. The president had mismanaged the bank, resulting in major
loan losses, insufficient equity capital and a diminution of shareholder
values. We assumed control over the Board of Directors, and operations
of the bank. The old regime was expelled and an assessment of the bank
potential was completed. Eight months later, with the approval of the
state regulators, a new investor recapitalized the bank and gave our client
a second chance at recapturing his investment.
Financial
Services Firm:
The owners of this firm hire us to manage the business while they looked
for buyers as a way to liquidate their investment. We were able to keep
the right employees on board to operate the business, achieve all time
record earnings and withstand the rigors of numerous due diligence efforts
by potential suitors. The company was sold after 18 moths at an attractive
price.
Real
Estate Investor:
We assisted a minority real estate investor in securing a multi million
credit facility and a six figure grant from the state of Illinois for
his acquisition and rehabilitation of an affordable housing project in
the Chicago land area.
Graphic
Arts/Printing Firm:
Assisted this client in the evaluation and ultimate liquidation of the
business and the identification of alternative career options resulting
in suitable full time employment.
Inland Marinas:
We served as court appointed Trustee in two separate matters. Two banks
foreclosed on loans secured by marinas operating on Lake Michigan and
Lake Geneva. We were assigned the task of securing and operating the properties
and locating subsequent buyers.
smlBIZ Financial Solutions will review your case at no cost to you. Our initial meeting and engagement proposal are yours for the asking. If we are not convinced that we can help, we will tell you that. If you are not convinced we can help, we will wish you good luck. The only thing you have to loose is your business and that is most likely to happen if you don’t get the right solution to your problems.
