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Multiple Funding Solutions, Inc., a Florida corporation, is owned and managed by Flor & Ralf Bieler. Their core business is factoring
small accounts, and they also provide financial and marketing consulting and business incubation services, as well as total business capitalization solutions via a partner network (including debt and equity programs and a
diversified portfolio of cash flow instruments).
The following article is printed so our readers will appreciate the tremendous impact small factors can have on the companies they serve. This also shows the power
of a client’s testimonial. Be sure you’re getting these from your clients too!
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A few days ago, we received a letter from one of our clients which touched our hearts. But more than that, we also thought it to be an
excellent example for the true value factors can provide: a value we probably don’t even think about a lot in our day-to-day business.
Their story and perspective illustrate how factoring – in the context of business
planning for startup companies – becomes a catalyst and fundamental cornerstone for getting a business off the ground. By doing that, it also contributes to “the bigger picture” by creating new entrepreneurs, poised for
success, who will contribute to our community and GDP, and will provide new job opportunities in the future.
Of course, we are not suggesting that factoring addresses our nation’s economic challenges sufficiently or
even single-handedly. In fact, you will see from the letter below that even for such a minute contribution, other players were involved and deserve credit as well.
However, we like to think that factors on a whole may be
able to make a very real difference by really getting immersed and involved and also by working a little bit outside the proverbial box.
As the story also has a nice relationship building component and social value to
it, we think it’s is worth sharing, and we’ve titled it:
The Birth of a Company - A Dream Come True
A Review of Hope, Teamwork, Communal Effort, and Success
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In March 2003, we decided to start our own business. Our idea was to focus on the transportation
and setup of mobile offices, school portables, containers, and the like throughout Florida with a clear commitment to customer service excellence at very competitive rates.
We
thought we had almost everything we needed. We knew we were long on vision and business concept, industry experience, determination, and commitment – but like many other new companies, we
were short on startup capital.
After a lot of preliminary research and numerous inquisitive phone calls we were directed to S.C.O.R.E., [Service Corps Of Retired Executives, which
provides free consulting, are affiliated with SBA, and can arrange for SBA loans] who - we were told - could help us. And in fact, they did. They discussed our business idea with us and
advised us on the need for a business plan. They also gave us a booklet with information on what the plan should include. Two weeks later we had what we thought was our final business
plan, so we went back to S.C.O.R.E. hoping to secure an SBA loan.
At that point, they referred us instead to Multiple Funding Solutions, Inc. We made an appointment and met with
their President and CEO. We explained our business concept and presented our (we now admit) rather rudimentary business plan. The meeting was intense but very productive and focused on
our business idea and plan. It took about 3 hours during which we not only explained our industry and business concept, but also developed both a professional and personal relationship.
They mostly listened and asked questions.
Multiple Funding Solutions, Inc. decided to take us on as their client, and the work began immediately. They did more research on our
industry and the competitive landscape, helped us finalize our business and pricing strategy, and ran projections of cash flow, sales, profits, annual growth, and market share
development. When they were done with our business plan, it was not only ready for presentation to a potential lender, but it also became our roadmap for short- to mid-term business
decisions and tactical plan execution.
While the plan was being finalized, Multiple Funding Solutions, Inc. also researched the type of loan and lender that best met our
capitalization needs. They identified a micro-loan program from a local lender as the most suitable solution. Together with Multiple Funding Solutions, Inc., we met with them and
presented our business concept and plan. It was a wonderful process. The team at the lender’s office demonstrated outstanding business savvy, was extremely helpful, and found
exceptionally creative solutions to help us collateralize our loan.
However, collateral was still a bit short of the lender’s requirements. Multiple Funding Solutions, Inc.’s
suggested we use their Accounts Receivable Funding program as additional collateral, by putting money from factoring advances into an escrow account that was only to be used for the loan
repayment. The lender was satisfied with this approach and accepted the escrow account under Multiple Funding Solutions, Inc.’s control as sufficient security to guarantee the loan
repayments.
The result: Within 4 months from when we first set out to become independent, we closed on the startup loan offer from the lender and now operate our first own business.
The special twist: We’ve used Multiple Funding Solutions, Inc.’s own Account Receivable Financing program right from day one of operation, not only as a required guarantee to the
lender to ensure that all our monthly loan payments are taken care of in time, but furthermore as our own personal guarantee for a steady and predictable cash flow in our business.
Since Multiple Funding Solutions, Inc. got us incorporated, they make all legal arrangements, provide CPA services, make our loan payments, and take care of all our invoicing. We can now
focus more of our own time on our business and our clients. We don’t have to worry about late loan repayments, or chase late invoices, and we always have the cash flow necessary to run
and grow our business. It is a wonderful concept full of rewards.
We see the team at Multiple Funding Solutions, Inc. as the down-to-earth, yet highly professional people who made
our dream come true. From the moment we met them, we knew and felt they could help us make it happen. They said what they would do, and did what they said.
We followed their advice
and recommendations, did exactly what they said, and here we are. Our first week in business exceeded our revenue expectations, and due to their Accounts Receivable Financing program, we
are cash-positive right from the start. We will be thankful to Multiple Funding Solutions, Inc. for the rest of our lives.
Yet, without the insights from S.C.O.R.E. we would have
not been introduced to Multiple Funding Solutions, Inc. And without Multiple Funding Solutions, Inc.’s expertise and contacts, we would not have had a presentable business plan, nor would
we have come across the right lender and might still be looking and struggling for startup capital.
It is very encouraging to experience first hand what the combined efforts of
these fine community members can achieve. We hope that through our dedication and commitment to our business and a focus on the quality of our services, at some point we will be in a
position to give back to the community what the community has given to us. A dream come true.
Claudia G., President
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The name has been abbreviated, and the company name and the lender’s
identity are omitted to honor our client confidentiality agreement. Nothing else has been altered, added, or omitted.
What have we learned? Okay, our marketing is probably not as strong as it
should be (they only found us through a referral from S.C.O.R.E.). It goes to show however, that establishing a strong referral base pays off as well (we all knew that anyway, right?).
What we haven’t mentioned so far: When we took them on as our client, they were maxed out on their credit, had over twenty open accounts (most of them in collection), and their startup loan request had been turned down
by every bank they had applied to themselves. And yet, they did not give up. They demonstrated continued tenacity, commitment, and endless faith. We were so impressed, we felt we simply had to oblige.
Overall, the emotional as well as financial reward for everybody involved is worth every drop of blood, sweat, and tears that went into this project to make it happen. Receiving such a letter from a happy client is priceless.
Ralf Bieler, CEO
Multiple Funding Solutions, Inc.
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This time, be the third person to email me at