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April 6, 2016

The Tampa Bay office of CBIZ MHM will host a half-day CFO & Controller Conference focused on the CFO’s role in mergers and acquisitions. 

Buyers, sellers and advisors along with a panel of local CFOs will share their insights into what the modern CFO should be prepared to face at the deal-making table.  Discussions will also include how to evaluate the factors that influence the due diligence process on the buy-side and the preparedness aspects on the sell-side. 

The following topics & speakers will be featured in 50 minute sessions:

Buy-Side Expectations of a CFO

Sell-Side Expectations of a CFO

Transaction Advisory Expectations of a CFO

The program will close with a panel of local CFOs who have played a strategic role in the mergers and acquisitions process at their respective companies and throughout their career.

The event will take place May 11th at USF Health, CAMLS, downtown Tampa.  Registration will begin with a breakfast at 7:30 a.m. and the event kicks off at 8:00 a.m., giving participants eligibility to earn a total of 4 CPE Credits.

For more information and to register:
https://tampabaycfoconference.eventbrite.com/

Can't attend the event?  Follow along with the conversation on Twitter using #CFOConf



April 5, 2016

Originally featured in Thinking Bigger Magazine - March 2015

As a small business owner, there may come a time, if it hasn’t already, when you need money and you need it now.

There are a variety of funding options available: banks, home equity, the SBA, friends and family, investors, accounts receivable factoring, credit cards—the list goes on and on.

However, what if you have exhausted all of those sources and still have a short-term need for cash? As you begin the quest to find financing, you may consider alternative funding—an option becoming increasingly popular for small businesses across the country. 

 Because the traditional banking system’s regulations have made it increasingly difficult, time-consuming and, in some cases, impossible for a small business to get quick funding from their bank, this niche financing  industry has emerged, filling a need that many  primary funding resources have overlooked. 

What Exactly Is Alternative Funding?

Lending Club and Kabbage are two examples of companies providing alternative funding services. These, as well as other organizations in this niche, are primarily online resources focused on providing fast and flexible short-term financing to small businesses.

Typical lending ranges from $10,000 to $100,000. After the process has started, it usually takes about a day for the company to receive financing, assuming all the funding conditions have been met.

Kansas City is actually home to an alternative funder, CapFusion. Though the company provides funding to small businesses across the country, the company’s founders are based in Kansas City. And they may pay extra attention if they receive an application from a business that is located here, too.

Why Isn’t Everybody Using Alternative Funding?

There are pros and cons to all funding options, but the main cons associated with alternative funding include the associated costs, the dollar limits and the relative experience of the lender.

The costs of these loans can be significantly more than annualized rates associated with conventional financing. Using alternative funding, a typical transaction’s annualized interest expense is anywhere from 30 percent to 50 percent. Remember, there is a reason this niche is referred to as “alternative funding” and not primary funding.

Additionally, the players in this space typically lend in much lower dollar amounts than other types of financing. The thought behind this being, once a company has stabilized its cash flow and has time to patiently search for the best conventional financing arrangement, it will no longer need alternative financing. 

Lastly, as a relatively new niche, many companies in this space are relatively young. Some small business owners simply may prefer working with more established, well-recognized institutions.

What You Should Do

As if running a business doesn’t present enough challenge to the small business owner, I’ll add one more. It is important to understand all the financing options available to you and the pros and cons before you make a decision. Put in the time and effort to analyze your alternative financing options, the same way you would research other goods and services.

While working with an online alternative funding source may be your best solution, make sure your needs align with the company’s capabilities, and make certain you are working with the lending company that will be providing the financing, versus a broker, which will lead to substantially more costs.

Learn more about the author of this article, Daniel Kjergaard and our Entrepreneurial Services Group.




April 1, 2016

CBIZ & MHM Memphis
will host its annual full-day CFO & Controller Conference on Tuesday, May 17, 2016.  This year’s conference is focused on “The New CFO” and will highlight topics geared towards the ever-changing business role of the CFO.

The event will take place at the FedEx Institute of Technology on the University of Memphis campus.  The conference will qualify for 7 hours of CPE credit.  Pre-registration is required, and interested attendees can register now online.

The Honorable Jim Strickland, Mayor of Memphis, will provide the keynote address. Other topics will include:

  • Executive Compensation
  • Data Automation
  • Wellness Programs
  • Trends in Tax Planning
  • And much more…

The program will close with a panel of local CFOs who play a strategic role at their respective companies and throughout their career.

We are expecting a sold out event, so RSVP today by clicking here!

Stay tuned for future posts about our presenters and topics leading up to the event.




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