Unsecured Vendor Debt – Often the Most Important Debt Forgiveness Workout

Unsecured Vendor Debt

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 the primary focus for resolution.

However, this is not always the case, that this secured loan is the most damaging, as the reality is ...

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Teach Your Employees To Respect The Chain Of Command

Teach Your Employees To Respect The Chain Of Command

Many businesses seek to flatten their organization, spreading decision making amongst your managers. Teaching your employees to respect the chain of command is an important concept to support this task. Frankly even with a pyramidal organization, chain of command is critical for effective management. It may sound rigid and Army-like but it plays a vital role in business and must be thoroughly understood in order for a business to function ...

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Can You strip Off a Subordinate SBA Lien or Mortgage On Your Home?

Can You strip Off a Subordinate SBA Lien or Mortgage On Your Home?

This is a huge issue which we frequently confront on many different fronts. Let’s assume an SBA loan was not used to purchase the property. Also assume that it is also a subordinate loan attached to the property by some vehicle that secures the loan in the event there is a breach in payments such as a lien or even a deed in trust. Many may ...

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What Percent of Your Revenue Should be Allocated to Payroll?

What Percent of Your Revenue Should be Allocated to Payroll?

Deciding how much of your revenue to allocate to employee salaries is a critical consideration to make. Payroll is frequently one of the most significant expenditures for a business owner. Not only is payroll a regularly occurring expenditure, but it also comes with strings attached: taxes, insurance, and additional add-ons like vacation time, sick days and other benefits. For managers trying to hold on to already-slim margins, payroll is ...

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How to Design an Effective Commission Rate

How to Design an Effective Commission Rate

Establishing commission rates for a particular employee or job title can be tricky territory to enter. Setting a commission rate should accomplish several things:

  • Create a profitable structure for the overall business
  • Enable the employee to earn fair wages
  • Incentivize exceptional performance by allowing the employee to earn well above standard compensation by greater performance potentially.

Instead of following the path of too many business owners, who insist that they cannot figure out a set commission ...

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Buying Out A 50-50 Partner Fairly and Easily

Buying Out A 50-50 Partner Fairly and Easily

Most frequently, partners in a small business are very close friends, family, or long term trusted sweat equity business relationships. Perhaps one of the most difficult challenges confronting this relationship is how to break it up when the time is right. There are always many emotional issues which cannot easily be worked out, but the equalizer is found in how a buyout is accomplished and most important what the price and ...

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Horizontal or Vertical Expansion – Which is Best for You?

Horizontal or Vertical Expansion – Which is Best for You?

Various, distinct strategies can support profitable growth and development. Two examples of these strategies are Vertical and Horizontal expansion. Although both are viable, each method depends entirely upon your goals and resources.

Vertical development consists of abiding by a natural chain of value added commerce. It works down a line of development where you begin with the natural flow of a product from its source and terminate with the end ...

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Do Not Enter Into a 50/50% Partnership

Do Not Enter Into a 50/50% Partnership

On too many occasions, I have seen partnerships fail because of poor planning in the beginning. Two friends decide to make their dreams come true by starting a business together where everything including ownership and decision-making is split 50-50. One friend typically brings the money in, and ...

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What Can Be Done to Workout a Defaulted SBA Guaranteed Loan?

What Can Be Done to Workout a Defaulted SBA Guaranteed Loan?

One must be knowledgeable and experienced in working out SBA guaranteed loans to launch a meaningful defense and a potent offense capable of succeeding. Many procedural requirements must be satisfied to reach a result where debt is forgiven.

If you are reading this post, you undoubtedly have an SBA guaranteed loan and are having problems supporting the monthly payments.
Please read this post and many other related posts on ...

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