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Business Consulting

By definition a business plan is simply the steps you take to create or start a business. Most people or would be entrepreneurs don't have a clue to what the business planning process entails.

At Spirit Financial, for those with business ideas or initiatives, we provide customized assistance with this process; that is from incorporating (LLC's S-Corp's) a business (profit/non-profit-501c3 designation, etc.), to developing vision, objectives and tactical strategies needed for the achievement or fulfillment of what started out as an idea.

Our planning consists of the basis for operational budgets, targets, procedures and management controls.  So, in a nutshell, to successfully launch a new business initiative; a formalized documented business plan is important.  This is despite the fact that most mom and pop operations start and operate without one.  But, their potential for both survival and growth is often hampered without a clear and sustained commitment involving implementing steps necessary for legitimacy and viability.

Essentially, the results of the business planning process are usually captured in a business plan.  Any investor, lender or those with business in an existing position responsible for approving new initiatives will invariably want to see a business plan before making any financial commitment.

The business plan, besides being a prerequisite for gaining access to finance, also
provides the blueprint for successfully creating and running a new venture.  This is so, even in fast-moving markets where the plan itself may quickly become obsolete.  The insight gained from the planning process that created it remains invaluable.  So, entrepreneurs you can't abort the process on your way to success.

In respect to a good business plan for obtaining a business loan, running a profitable business is the ultimate goal.  Profitability is neither instant nor guaranteed.  Note that the operative word here is profitable.  Assisting business clients in negotiating with lenders or investors for favorable terms to afford the business a fair opportunity to reach profitability; is our specialty here at Spirit Financial.  All kinds of dynamics can affect a business's profitability, i.e., insufficient capital, poor planning, management, shifting markets or a bad economy, etc.

Renegotiating the terms of an existing loan brings about accounting implications where the borrower must consider if they are trying to dispose of or reconstruct their debt.  We will examine a business's considerations to financial statement (P&L & Balance Sheet) along with others to help us to properly advise client of their option(s) to protect and preserve business assets; including bankruptcy as a last and possible viable alternative.

Some people give up too easily.  It's not easy building and running a successful business, particularly in a changing business environment.  But in most cases and with perseverance; negotiating or renegotiating a loan is doable.  In the face of delinquency or foreclosure, a loan work out is a plan of how to restructure debt or modify the terms of the loan secured by assets such as real property like that of a home mortgage.

Our Consultants work a range of options, between the borrower and the lender, from lowering monthly payments and liquidating or eliminating the debt all together; often for less than fifty cents on the dollar.  It's here that not only do you eliminate debt but a positive impact on credit rating occurs.

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