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5/6/02 Businesses struggle in today's economy: Liaison
Group formed to assist Business Finance Companies
Alameda CA-May 6, 2002-While some of the economic news being
released is positive, many businesses are still struggling to
keep pace and move their companies forward.
When Business Finance Companies work with
troubled companies, their clients often need more than what
they will receive from the simple pledging or factoring of
their accounts receivables, or other asset-based financing
programs. Pledging or factoring receivables may solve a short-term
problem, but without a strategic plan with professional resources
behind it many troubled companies will continue heading towards
serious problems.
Consequently, Business Finance Companies
may also be exposing themselves unnecessarily to major risks.
During these trying times, SageGroup Strategies
(SGS) announced today the formation of a Business Finance
Company Liaison Group. Liaison Group representatives are
now based at many of the 30 SGS offices nationally.
Through the Liaison Group, SGS offers all
Business Finance Companies the opportunity to join with SGS
regarding their troubled companies in a win/win, positive,
coordinated, and cooperative manner. Through the Liaison
Group, Business Finance Companies can propose to their clients
some of SGS's professionally creative solutions. SGS, known
for its discreet handling of troubled corporate situations,
has already established relationships with many Business Finance
Companies and plans to proactively increase this number.
Bill Nolan, an SGS Associate in SGS's Alameda
(California) office, stated: "This Group will give the Business
Finance Companies another tool to use with their clients.
Those that I've spoken with see several strong advantages
to such a relationship. When working with our SGS clients,
we have often recommended that they use a Business Finance
Company as part of the appropriate solution. With the Liaison
Group, we can now move towards that arrangement much faster.
It will be a win-win situation for everyone. The Business
Finance Companies also greatly appreciate when they can minimize
uncollectible loan losses, as well as increase their portfolios
of profitable clients."
Tom Gearing, a SGS Milwaukee Office Co-Manager,
added: "The Liaison Group coordinates and facilitates various
potential relationships between the Business Finance Company
field and the Professional Troubled-Company Specialist field.
Generally, there are three main initial aspects of such relationships,
including: 1) SGS referring financially needy companies to
the Business Finance Company; 2) The Business Finance Company
referring troubled companies to SGS; and 3) Both SGS and the
Business Finance Company working together on appropriate situations."
ABOUT SAGEGROUP STRATEGIES
SageGroup Strategies is the largest Professional Troubled-Company
Specialist firm in the United States and the world. Notably
experienced and knowledgeable, SageGroup prides itself on
being very discreet, working with absolute confidentiality
and behind the scenes whenever necessary. It has been involved
in hundreds of troubled-company situations, including: turnarounds,
crisis management, debtor programs, spinouts, restructurings
and reorganizations. As part of its strict confidentiality
policies, SageGroup has never disclosed or publicized the
names of its clients.
More information about SageGroup Strategies
is available at www.SageGroupStrategies.com
CONTACT:
Mr. David Lawrence
National Coordination Office
SageGroup Strategies, Inc.
1370 Third Street, Suite 110
Alameda, CA. 94501
510-865-2480 phone
510-865-6654 fax
SGS@SageGroupStrategies.com
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