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A question for you:
As a business owner, what is your top priority?
Maximizing Revenues
Increasing revenues is certainly important, but have you considered the profitability of your products or clients? Or how cash flow is impacted by “maximizing” revenues? MeisterFinance can analyze your company’s profitability profile and develop strategic plans that drive profits & optimize cash flow, which will contribute to long-term growth and value. Contact me.
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Long-term Growth
Long-term growth and planning is critical to your business’s future. Do you have detailed and actionable financial projections to help guide you? In other words, how do you get from here to where you want to be? MeisterFinance can help you plan your business strategy. Contact me.
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Building Value
Building value is important for private companies who are looking to sell their business at some point, transfer ownership to the next generation, or raise capital (debt or equity). MeisterFinance can help you develop a plan that takes into account the drivers of valuation for your business; all in accordance with your personal goals. Contact me.
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Optimizing Cash Flow
Optimizing cash flow is the single most important action your business can take. All other actions impact and are impacted by this metric. Cash is what you can ultimately take out as compensation, pay down debt, acquire a competitor, and invest internally to grow the business. MeisterFinance has deep experience optimizing cash flow for various businesses. Contact me.
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About
CFO Services on a Remote Basis (aka “Fractional CFO”)
Business owners are faced with various challenges: optimizing cash flow, maximizing profitability, creating value, accelerating growth, looking for opportunities, fending off competitors, and planning exit strategies, among others. As your Fractional CFO, I am your business partner. My role is to develop a game plan for the range of strategic, financial and business challenges you face. My business advisory helps ensure the path you are on is profitable and effective.
I provide the expertise you need by performing world-class CFO duties on an outsource basis, at a fraction of the cost of a full-time employee. As your trusted advisor, in the capacity of CFO, I listen carefully to your goals, aspirations, challenges and frustrations.
We then collaborate to develop a continuum of solutions and strategies prioritized to navigate your company from its current state to the desired end state; implemented and executed at a pace that you are comfortable with, both operationally and financially.
Bio
David Meister, CPA, MBA, CGMA
I was part of the original founding team that conceived and started-up Telemundo Group, Inc., the Spanish language television network now owned by NBCUniversal.
Since 1994, I have provided hands-on consulting CFO services to more than 75 middle market companies and start-ups. My practice consists of three areas: 1) serving as an Outsource (or Fractional) CFO, 2) helping entrepreneurs create business plans that can raise funding for their ventures, and 3) revitalizing companies experiencing a downturn caused by management actions and/or industry decline.
In my career, I have worked on over 50 corporate M&A transactions nominally valued at a cumulative $1 billion, and helped raise debt and equity with total proceeds of more than $800 million.
I began my career with Ernst & Young, LLP, and was recruited in 1984 to the venture capital division of Reliance Group Holdings, Inc., a $10 billion insurance and real estate company, where I helped launch Telemundo Group, mentioned above. While at Reliance and Telemundo, (ten great years in all!), I held progressive financial and operating positions until 1994, when I first began providing Fractional CFO services to a newly public company.
I am also a guest speaker at Brooklyn Law School, and have written blog articles, and a chapter in the book: “Cracking the Funding Code” by Judy Robinett.
I earned a BA in Political Science from the University of Rochester, and a MBA from the Simon Business School there. I am a CPA in New York State and remain current with CPE. Lastly, I have been active with several not-for-profit entities in various board and advisory roles, and I enjoy golf, (although not very good), and reading in my spare time.
Services
• CFO Services
• Cash Flow Planning & Management
• Financial Planning & Analysis
• Capital Raises / Capital Structure / Investor Presentations
• Distressed / Revitalization / Turnarounds
• Financial Reporting & Accounting
• Strategic Plans & Advice
• Mergers & Acquisitions / Divestitures / Transaction Support / Due Diligence Assistance
• Dispute Resolution with Partners and Investors / ”Honest Broker”
• Valuations
• Situational Analysis
Industries
• Medtech
• Fintech
• Media – broadcast, cable, television, radio
• Digital Media
• eCommerce
• Retail / Wholesale
• Manufacturing
• Distribution
• Professional Services
• Private Equity
• Technology
• Start-ups
• International
• Import / Export
• Fashion
• Real Estate
• Jewelry
• Multi-Level Marketing
Blog
Your business might be eligible to borrow funds under the new Main Street Lending Program (MSLP). Some specifics of this Federal loan program are as follows:
· Your business qualifies if: it was established prior to March 13, 2020, had 2019 revenues of $5B or less or has 15,000 or fewer employees, and was created or organized in the United States, and has significant operations in and a majority of employees based in the United States.
· Your business can borrow an amount that, when added to existing debt, does not exceed 4x adjusted 2019 EBITDA, or $35mm, whichever is less. Minimum loan amount is $250,000.
· Some of the Terms are:
Maturity is 5 years. Principal payments are deferred for 2 years & Interest payments are deferred for one year (unpaid interest is capitalized). Principal amortization is 15% each at the end of years 3 and 4, and a balloon payment of 70% at maturity (end of year 5). There are no prepayment penalties, and fees are up to 2% up front.
· Interest rate is relatively low: LIBOR (1 or 3 months) plus 300 basis points.
· Required Certifications and Covenants – Your business will need to certify the following, in addition to other certifications required:
a. The borrower will not repay the principal or interest on any debt until the MSLP loan is repaid in full unless the debt or interest payment is mandatory and due (i.e. cannot use the MSLP loan to refinance any debt),
b. The borrower will not seek to cancel or reduce any outstanding lines of credit,
c. The borrower has reasonable basis to believe that it has the ability to meet its financial obligations for at least 90 days and does not expect to file for bankruptcy during that time period,
d. The borrower will follow compensation, stock repurchase, and capital distribution restrictions set forth in the CARES Act, except for pass-through entities which can make distributions for owner’s tax liabilities related to their interest in the borrower’s income, and
e. The borrower is eligible to participate in the MSLP.
The borrower should make commercially reasonable efforts to maintain it payroll and retain its employees during the time the loan is outstanding.
· The loans are backed by the Fed which buys 95% of the loan from the bank. The bank retains 5% of the loan.
With this program, your company might have a unique opportunity to acquire much needed capital and strengthen its’ balance sheet.
Contact me if you have questions on this and how I can help your business obtain this loan.
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