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| Just In... |
On May 11, Hennessey Capital sponsored and participated in the Crain's Detroit Business and Walsh College Second Stage workshop. Jeff Wright, Senior Vice President, Hennessey Capital and client Eugene Gizzarelli, Acting CEO, Avon Plastics, presented a session on "Accessing Capital for your Business." The session offered insight on the financing options available for entrepreneurial companies and how they can use factoring and asset-based lending to gain access to capital. View the presentation |
| It's a Done Deal |
Hennessey Capital announces the following recent done deals:
$100,000 factoring facility to a home electronics distributor to fund new sales growth to online retailers.
$250,000 factoring facility for an engineering services company to fund new growth with alternative fuel vehicle manufacturers.
$900,000 A/R and inventory line of credit for a machining company working in the aerospace industry to fund production for new orders.
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| Greetings! | Welcome to the June 2010 edition of Growth Capital News. As we approach the halfway point of the year, it is an ideal time to benchmark what your business has accomplished thus far and what adjustments need to be made to attain your annual goals. Thus, in this issue we offer insight and tips to keep your financial house in order and establishing or maintaining profitability.
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| Understanding the 5 C's of Credit | |
Everyone has heard of the 5 C's of credit, but may not be sure what they really are. You have probably heard them discussed in a basic finance class and know they have something to do with credit and lending. While the "5 C's" are a cornerstone of lending philosophy, they can also be used by anyone else evaluating your business and its needs for the future.
As a refresher, the 5 C's are: Character, Capacity, Capital, Conditions and Collateral. By definition, the "5 C's" are referred to as the factors used by lenders to evaluate potential borrowers. So, you may be thinking: "I'm not a lender, what does this mean to me?" Well, if you are a business receiving financing or seeking financing it is helpful to know the key indicators your lender is considering. In addition, you can apply these key principles to more than just your lending relationship, you can use them with your customers as well.
Character
This is the overall impression you make to your lender. Your background, experience and reputation all play a part in the assessment of character. Lenders want to know they are dealing with someone who is forthright and honest and will work with them rather than against them in difficult situations. You should expect the same from your customers.
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| Venture-Capital Fundraising: Which Sectors are Up, Down |
 The figures for venture-capital funding for the first quarter of this year are in, and it's a mixed bag. Some sectors are seeing funding increase while others are losing ground. Interestingly, the two biggest sectors didn't gain any ground, while traditionally less-funded industries moved ahead.
A recent report from VC-database firm VentureDeal shows who came out on top. Read the overview from Entrepreneur.com. |
| Why I Sold Zappos | |
 Tony Hsieh built his online shoe retailer into an e-commerce powerhouse. But with credit tightening and investors eyeing the exits, Hsieh was forced to ask: Was selling Zappos really the only way to save it? Learn why he did it and decide if it was the right move |
| Succession Planning with a Bite |
 Strategic Business Development for Long-Term Sustainability By Gary M. Giallonardo, President, Industrial Visions Company Family businesses have always been at the head of the table, feeding the American economy and sustaining our nation's growth. According to a study by Astrachan and Shanker (2003), nearly 90 percent of all U.S. firms are family-owned and operated, accounting for 64 percent of our gross domestic product and employing over half of the U.S. workforce. Family-run enterprises play a leading role in sustaining our country's innovation, wealth creation and employment. Yet the long-term survival rates for these kindred businesses are abysmal.
Widely referenced statistics show that only one-third of family businesses survive through the second generation. More than 85 percent flatline before reaching the fourth generation. [
So why the grave mortality rates, especially when a multitude of trusted advisors - CPAs, lawyers, insurance agents and financial planners - offer succession planning services? A significant reason is that these experts only address part of the solution.
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3 Ways to Focus on Your Profits
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 Turnover is vanity, profit is sanity, and of course, cash is reality. It all seems so obvious, but it never fails to surprise me how un-profit-focused so many businesses are. Clearly, it's not just about profits, it's all those other things I'm often ranting about - delighted and devoted customers; committed, motivated and effective employees; standing out in the market place, creating a great place to work and having fun. However, it's all got to make economical sense. Profit is not a dirty word. So, here are three little ideas to help you focus on your profitability from BNET.com |
Billionaire to Bankrupt Everyday
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 You know the feeling all too well. It's a great day. You land that client, close that deal and get a verbal green light on the funding you've been waiting on. You round up your business partners and your spouse and you meet up for dinner to celebrate. "Sky's the limit!" You put it on the AmEx thinking that the money will be in the bank by the time you get your next monthly statement. You look down at your BlackBerry during dessert, and read, "We rethought the parameters of the deal, and it's just not going to work for us." In just eight hours you have gone from feeling flush to concluding that the world has just ended. Mel Robbins provides insight on how to ride the wave to your next success. |
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Like what you see? Find other valuable resources and information at HennesseyCap.com or contact Toby Dahm or Jeff Wright at 248.658.1100 to learn how Hennessey can help you or your clients.
Interested in exploring new partnerships? Hennessey Capital welcomes the opportunity to work with you to build your business and assist your clients. Contact Joe Romeo to learn more. |
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