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If you are establishing a new business, expanding an existing business
or need a few more dollars for a particular project, we can help
you identify the right sources for your unique needs. With our
experience in mergers & acquisitions, commercial banking, and
our vast knowledge of the funding programs available throughout
the North Country region, we will work with you to put together
a financing package that not only meets your requirements but also
those of the funding organization. Whether it's a bank loan or
grant; a bank, an economic development organization, or a state
agency -- we can help. We can even help you obtain grant funds
to help pay for your company's training needs.
- For existing
businesses, we can prepare a complete set of projections using
your company's past performance as a guide. Using industry comparables
and market research, we can generate projections that every start-up
company needs to pursue financing. We generally produce conservative
five-year projections that include an income statement, balance
sheet, cash flow statement, and ratios.
- If you
are pursuing additional funding for your business, you are going
to have to provide copies of a detailed business plan. You can
elect to have us review a business plan you've created and we'll
offer recommendations for improvement. Or, we can prepare your
complete business plan that begins with a set of projections and
market research that will impress any banker.
- Learn where your company may be able
to cut costs or increase sales. We will examine your current
financial statements and compare them to other companies
in your industry to uncover areas for improvement. Various
product lines or company divisions can be analyzed to determine
their profitability. And, we will work with you to put
in place a strong financial management and control system
so
you can monitor your company's financial situation and
develop reliable budgets and cash forecasts.
- If you are experiencing a cash
flow crunch, we can analyze your situation and find ways
to squeeze money out of your operations. Increase the speed
and likelihood of collection to improve your accounts receivable
credit and collection process with our guidance. We'll help
you manage vendor relationships to take advantage of extended
payment terms when cash is tight, or consolidate suppliers
to increase purchase quantities that result in better pricing.
When should you take advantage of volume purchase discounts?
Are early payment discounts for your customers a solution?
Most importantly, we can improve your operations to reduce
inventory and minimize the time interval between paying for
supplies and receiving payment for goods sold.
- Before you make any commitments or
spend too much money, you should consider conducting a project
feasibility analysis. With CITEC's extensive resources, both
through the expertise of our own staff and from alliances
we've developed across that State and nation, we can complete
a comprehensive analysis of your project to determine its
feasibility. There may even be funds to help you accomplish
the project -- but not if you've already started.
Visit
our Grants & Loans page
for information on programs that provide funding assistance.
For
more information, contact Tom Plastino or Anne
Simmons.
