Agenda - 09-06-1994 - VIII-E - Laserfiche WebLink

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ii 17 8 . Carrboro. Startup administrative service business (word processing, resume writing) . We helped with cash flow/review of business plan. Client received loan of $20, 000 from FUNB for expansion to new , facility. Moved 11/15/93 . 9. Long standing Hillsborough manufacturer. We provided financial planning and exploratory financial work to establish viability of company. Developed a Cash Flow Projection against which investors could test various scenarios. Assisted by updating these CFP as negotiations with existing owners and lending Bank (CCB) evolved. As part of this process investors identified a need for a CEO. We assisted in successful introduction. 10. Chapel Hill. We were asked to review the client's Business Plan. We suggested a strategy for approaching Banks after some minor amendments to plan. Set up appointments with Regional Banks-- NationsBank, Wachovia, and First Union) that would be best able to help in expansion into the South Eastern USA. First Union agreed to lend $80, 000 with a further $50,000 line of credit to assist WP to finance local publications pending investments by local physi- cians and to finance expansion regionally. 11. Orange County manufacturer. We worked closely and for many hours with the company's CPA to gain creative financing for inventory/rec- eivables. This included making 3 bank presentations with the client company. Company obtained $700,000 from UCB. CPA has requested our help with the further development of the company's marketing plan. 12 . Chapel Hill. Client has leased renovated restaurant space. They borrowed $225, 000 from Raleigh Federal Bank (Fuquay Varina) against an SBA guarantee; the balance of $300, 000 costs has been injected by owner as start-up capital. Client is in the process of hiring 6 full time and 8 part-time employees and hopes to be operational in within the month of August 1994. Our involvement was to review and comment on the client's business plan and CFP as these were developed and as a number of alternative locations were considered for the restaurant. We also referred client to a number of local banks for consideration of the loan application. 13 . Carrboro. Nonprofit organization - teaches the skills of conflict resolution through curricula and resources, workshops and profes- sional training. Client came in with concerns about the Center's recordkeeping and a system for developing reliable financial data for management and Board of Directors. CFPE has successfully computerized its recordkeeping with a system that will enable management and board to have beneficial and timely financial re- ports, a first in the ten year history of the center. SBTDC assisted with identification of software for current and future use; assisted with setup as well.