"A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain," -- Mark Twain. A panel of financial industry leaders hosted by the Turnaround Management Association of Northern California will deliberate business financing options on Thursday, May 15, 2008 in San Francisco.
San Francisco, CA (PRWEB) May 8, 2008 -- Traditional bank lending has not gone away in this increasingly difficult climate of dry credit, but these institutions are not as willing to lend an umbrella to help businesses weather the economic storm.
So where do businesses in need of capital turn to for help?
This question will be deliberated by a panel of financial industry leaders hosted by the Turnaround Management Association of Northern California on Thursday, May 15, 2008 in San Francisco. The aim is to provide an informative exchange on finding other financing options in this uncertain credit environment. Chuck Doyle, managing director of Business Capital, will moderate the discussion.
Mr. Doyle, an expert in the turnaround industry, explains that a combination of variables including the downward economic spiral and increased debt exposure, has led businesses of all sizes and across all industry sectors to request advice on debt consolidation and management in order to avoid bankruptcy. Further, the banking industry has made it increasingly difficult for these businesses to raise capital through traditional means. Companies like Business Capital, which provide alternative recovery solutions for businesses in financial turmoil are in high demand.
In response to Fed claims that recent rate cuts will open up credit liquidity to small and midsize business, Doyle says, 'You're talking to the players, not the fans.' He explains that this economic infusion, while a positive move, will nevertheless take a long time to actually bear fruit. In the meantime, he stresses the importance of being proactive, "Don't wait for the situation to get worse, act while you can still benefit from debt management service."
He also warns that businesses do their research on all possible solutions and the companies that provide them. Doyle advises anyone looking for such a company to make sure that, like Business Capital, they are backed by the Better Business Bureau or a similar, reputable organization.
For more information on the panel discussion, visit the TMA's website at www.turnaround.org. To learn more about Business Capital and the company's full array of financial services, visit their website at www.bizcap.com.
Media Contact:
Business Capital
Jen McCarthy
415-989-0970
jmccarthy @ bizcap.com
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