Welcome to the SBG Newsletter – June 2019
A word from our CEO Jeff Sachs
“In order to have a successful business, it’s critical to maintain healthy business finances. Effectively managing cash flow and working capital is particularly important for small-to-medium sized businesses. Without enough working capital, businesses can’t fund day-to-day operations.
In the story below, you’ll read how SBG Funding was able to assist a florist shop owner who was struggling to stay afloat during a busy time of year.
If you think your company needs help managing working capital, try these tips:
- Keep a close eye on inventory
Regularly assess your inventory to make sure that you strike a healthy balance between having enough items on hand versus overstocking. It is important to do some simple demand forecasting so you can accurately maintain just the right amount of inventory. If you have too many items in stock, you will tie up both your working capital and free space in your warehouse. - Effectively manage accounts receivable
Send out your invoices as soon as possible to keep the cash flowing. Follow up to ensure that the invoice was received and have a plan for collections in place. - Pay your suppliers and vendors on time
Making a habit out of paying your vendors on time will help you maintain a good rapport with your suppliers and a good reputation for your business. This will facilitate negotiations for discounts when making large purchases.
Try implementing these above-mentioned tips to help your business run smoothly.”
Best Regards,
Jeff Sachs
SBG Helps Florist Get Back on Track Just in Time for Mother’s Day!
In early May, SBG Funding received a call from a florist owner in Maryland who was in need of some quick funding assistance. Account Executive Cameron Clearfield explains, “I took the call from the owner of a flower shop who was in a very tough spot. She told me that Mother’s Day was the second biggest holiday for her business right behind Valentine’s Day. In order to be able to keep up with the boost in sales, the shop needed to purchase extra vases, flowers, and supplies as well as have extra employees on hand. With Mother’s Day less than 10 days away and not enough capital to stay afloat, she needed funding right away. Fortunately, being a direct funding source, SBG Funding was able to quickly secure her same day financing! It worked out perfectly because she was able to fulfill all of her upcoming orders.”
If your company is in need of additional working capital to help your business bloom, reach out to one of our funding specialists here.”
SBG is Hiring
As the demand for our services continues to increase, we are aggressively looking to expand the SBG team! We are proud to announce that we are hiring for the position of Account Executive. Please contact ablock@sbgfunding.com for more information.
