I just received a large order from a local company - should I take it? This is what I call the 'ship and hope" syndrome. In other words, fulfill an order; ship the product and 'HOPE" to get paid. In today's economy, not knowing the credit (payment history) of your clients is a recipe for disaster. Unfortunately, I would estimate that over 90% of the businesses … [Read more...]
“Hey Millennium, I have a great Purchase Order Funding Deal”
Over the years, we have fielded many calls from consultants inquiring about Purchase Order Funding opportunities (PO Funding). These types of prospects seem to garner a great deal of excitement as most prospects looking for PO Funding are in dire need of cash, and they need it now. … [Read more...]
Why Factors say YES when banks say NO
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Have you ever heard this from a prospect; "Don't waste your time, I am not bankable?" Did you then wonder why a factor would ever consider funding a company that a bank would decline? If you have, believe me, you are not alone (I get asked this all the time). Let me see if I can help clear this up. Let me begin by defining a strong banking prospect: Prospect has been in business for a minimum of 2 years Prospect has audited financial statements reveal solid profit margins in the previous 12 month accounting period Prospect has steady revenue growth with no "Peaks or Valleys" Prospect's management team is strong with a proven track record of success in the industry Prospect has absolutely no bankruptcies or judgments in the … [Read more...]
Reviewing Financial Statements
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We are often asked to comment on how a consultant can use a company's financial statements (Balance Sheets, Income Statements and invoice aging reports) to highlight the benefits of factoring their accounts receivables. Below, you will find those areas of the reports that you can concentrate on and how you can best use this information to improve your chances of closing the deal! Understanding the Balance Sheet from a Selling Perspective: Factoring simply turns one asset (Accounts Receivable) into another asset (Cash) - said another way. Factoring is "Off Balance Sheet" financing as you don't incur any liabilities when financing this way (nothing to balance). By reducing your potential liabilities, you will increase your … [Read more...]
Timothy J. Sardinia
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Timothy J. Sardinia - Mr. Sardinia is currently a Partner with Canfield Capital Management, LLC, a Member of Steelkilt, LLC, a Member of Millennium Automotive Group, a Member of Millennium Legal Funding, the President and CEO of Sardinia Consulting, Inc and a Member of HighView Healthcare Partners, LLC. Tim's day to day responsibilities as a Partner with Canfield Capital Management LLC, a multi-million dollar commercial finance firm, include; Investor relations, Sales/Marketing, Initial file Underwriting and Portfolio Management. Tim holds a Bachelor of Science Degree in Business from Miami University. Previously, Tim held positions in Sales and Sales Management with Cintas Corporation and Eagle International, Inc. Tim Currently … [Read more...]