Allied announces the details of our first funding for February:
Facility Amount: $300,000
The Company: A minority-owned, start up, temporary staffing firm based out of Dallas, TX. The owner is a seasoned professional with over 14 years of experience in the staffing industry, including accounting and finance, healthcare, engineering, and IT/telecommunications. With his former employer, he was able to develop customer relationships in the telecom industry that resulted in tripling the company’s revenue base within five years.
The Challenge: Last year, the telecom division of his former employer’s staffing business was closed. He then decided to start his own staffing company catering to the telecom industry to continue the services offered to these customers. His start up company needed working capital to get up and running.
The Solution: A broker, knowing that Allied has the ability to fund start up companies (particularly those in the staffing industry), referred the client to Allied.
The Win: With the funding provided by Allied, the company now has the operating capital they need to start and grow a successful staffing business, and they have secured a financial partner who is willing to grow with them.
February 5, 2010
Joel Flig joined Allied in January 2010 as Managing Director, New Business for the Northeast Region of the United States. Joel is a Senior Finance Executive and seasoned Marketing Professional, highly experienced in new business development and in the evaluation of factoring opportunities.
For the previous three years, Joel worked as the EVP and National Sales Manager for Greystone Business Credit, a nationwide commercial finance company. There, he was responsible for all new business proposals sent out to clients, and he managed and developed a nationwide salesforce of 7 people. He was personally responsible for half of all new business developed during his time there.
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February 5, 2010
There were monumental changes in both the economy and economic policies this past year. While business activity continued to decline during the first half of the year, by mid-year the economy began to grow.
Some attribute the turnaround in the economy to an unprecedented 18% increase in federal government spending. However, in spite of much talk about government stimulus, increases in federal spending tend to be associated with economic weakness rather than strength.
Some economists believe that government spending can boost total spending. This view first emerged during the 1930s when total spending collapsed and prices were falling. Few associated the collapse in spending with the Federal Reserve’s monetary restraint. Desperate to restore spending, politicians and economists reasoned that if government increased its spending then total spending would also increase. The problem with this line of reasoning is that the federal government cannot spend money without first taking it from someone else.
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February 1, 2010
Author: Michael Hosemann, Managing Director, Enterprise Consulting Solutions
In the “brave new world” following the November 2008 elections, small businesses face a phalanx of challenges in the tax arena. First of all, the Obama Administration and Democrats in Congress plan to allow some of the Bush-era tax cuts to expire, thus raising taxes on top earners. Secondly, the health care overhaul being debated in Congress contains proposals that pose a huge financial threat to small businesses. Finally, the Cap and Trade legislation that awaits debate in Congress proposes an energy tax in disguise that promises to artificially explode the cost of energy and, therefore, the cost of overhead in small businesses.
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Tags: Economic Impact, Economy, Small Business, Tax Cuts, Taxes
