Liquid Capital
Liquid Capital connects businesses with funding experts across the United States and Canada to help them access the funding advice and working capital solutions they need to grow.
Key government financial programs & business aid
Find out about possible government financial programs and resource options available for your business.
It’s no secret that businesses have seen their fair share of changes in the last few months. As owners, C-levels and managers adapt, it’s a good idea to find all the available financial support and resources at hand. While Liquid Capital can provide much-needed cash flow, this can also be a supplement to other resources, including government grants.
At this time, both the American and Canadian governments are providing some different funding options for small and medium-sized businesses. Here’s a list of some of the highlights below.
USA: Government financial programs
1. SBA: Small Business Guidance and Loan Resources
The Small Business Administration has by far the most comprehensive funding resources available when it comes to seeking financial assistance due to the coronavirus. With content available in 17 different languages, it includes coronavirus funding options, guidance for businesses and employers, as well as information on local assistance, SBA products and resources, and government contracting.
2. Paycheck Protection Program
The SBA is also offering a Paycheck Protection Program, which provides a loan to be used towards keeping your employees and workers on the payroll. The SBA will also forgive the loan, granted it is used for payroll, rent, mortgage interest or utilities. Applications can be completed directly from the SBA website.
3. Economic Injury Disaster Loan Emergency Advance
The SBA is also offering this program with loan advances up to $10,000 of economic relief for businesses that are currently experiencing temporary loss of revenue. Additionally, they have recently revised the eligibility criteria to include agricultural businesses.
4. U.S. Chamber of Commerce: Coronavirus Small Business Survival Guide
The U.S. Chamber of Commerce has compiled a list of resources to help small businesses throughout these uncertain times. With content available ranging from general coverage, information on the federal government’s coronavirus stimulus legislation, small business loans, how to manage employees as well as remote work
5. USA Government: Finance your business
The United States Government has compiled a list of funding sources that they are backing including links for small business loans and other government funding options for your business. This is part of their Coronavirus Aid, Relief, and Economic Security Act.
Canada: Government financial programs
1. Regional Relief and Recovery Fund
Offered by the Government of Canada, the Regional Relief and Recovery Fund (RRRF), gives businesses located outside of metropolitan areas access to additional financial resources. $675 million of the near $1 Billion total of the fund will be allocated to help support regional economies. Applications can be completed directly from one of the Regional Development Agencies listed on the page.
2. Government of Canada COVID Benefits Quiz
The Government of Canada will be offering a variety of financial services during the coronavirus pandemic, ranging from the individual to small and big businesses alike. To navigate which option is best suited to you this quiz will point you in the right direction.
3. Relief measures for Indigenous businesses
Additionally, the Canadian government has set up a specific relief fund for Indigenous businesses, which includes up to $40,000 for small and medium-sized businesses. The capital is divided with $30,000 as an interest-free loan and a non-repayable contribution of $10,000. Consult the contact information on the dedicated page for more insights on the application process.
4. Canada Enterprise Emergency Funding Corporation: Large Employer Emergency Financing Facility
This fund was specifically set up for large Canadian employers who need financial assistance due to the pandemic, and will provide loans upwards of $60 million. The minimum annual revenue requirement is $300 million or more, however, businesses in the financial sector are excluded from applying. The applications should be completed by emailing LEEFF-CUGE@cdev.gc.ca to register intent.
5. Canada Mortgage & Housing Corporation: Canada Emergency Commercial Rent Assistance
The CMHC has set up a rent relief program from those who own commercial properties and have small businesses as tenants who have been affected by the coronavirus. Those eligible for the program will be able to acquire forgivable loans if they agree to reduce the rent by 75% for the months of April, May and June, as well as meet operating expenses on commercial properties. Application can be completed directly through the website.
Additional Resources
Better Business Bureau
Although not specifically for funding options, the BBB does offer a range of helpful business tips on navigating the pandemic — plus information on price gouging and scam alerts. Additionally, they offer a COVID-19 toolkit for both Canadian and American businesses.
Next Up: 6 comparisons between invoice factoring and cash advances
At Liquid Capital, we work with clients who operate businesses in a variety of industries and office structures — whether from busy downtown buildings, the manufacturing floor, on-the-go or from their home office space. We’re business people ourselves, and our company is built on a network of locally owned and operated Principal offices. Whenever you’re talking to Liquid Capital, you’re talking directly to your funding source and a fellow business person.
The Ripple Effect
As I work with companies in a variety of businesses, I generally focus on specific financing needs that run the gamut of scenarios; from high growth to high financial stress. My client is focused on addressing the company’s financing needs as it impacts company operations and seizing new business opportunities. At first glance, one could view the impact of acquiring the needed financing more narrowly. However, businesses are multifaceted, and the benefits extend throughout all aspects of the business and beyond, as well as positively impacting the U.S. economy as a whole.
Each party that interacts with a business is its own microcosm that has the same financial and operational needs. Whether it is a supplier, a customer, a building owner, an equipment provider or service provider, each has a vital interest in conducting business with companies that are financially stable and readily able to meet their financial obligations. In doing so, each party in turn can meet their own financial obligations as well.
The most poignant impact of a financially stable company is the ability to retain employees and attract desirable new employees. Every employee has their own set of financial obligations that need to be met. These would include paying their rent or mortgage payment, car payments, food, goods and services etc. Those providers in turn benefit and are able to address the financial and operational need of their business. The effects are felt further and further out into the economy. As in a single stone being thrown into a pond, the ripple effect generated spreads far beyond the point of initial impact. Given that small businesses constitute the vast majority of employers in the U.S., and correspondingly dramatically impact our overall economy, the value of companies having the requisite financing cannot be understated.
An important functional benefit is that when a company’s financing needs have been met, the business owner’s time and attention can be more readily focused on those issues that promote stability and growth versus being preoccupied and distracted with trying to find an answer to a financing shortfall. I have seen time and time again the emotional relief when this critical issue has been addressed.
I would welcome the opportunity to discuss my services with your clients and/or prospects as well as their far-reaching effects throughout their business.
Looking Under The Hood
The other day, I was thinking about the complexities of running a business and the many operational and financial components that must be in sync to truly optimize it success. As I thought about drawing a useful comparison, a gas powered car engine came to mind. Taken individually, each part of the engine contributes to its performance. However, if one or more of the parts does not operate properly, performance can be degraded, or worse yet, the engine can be seriously damaged. Critical to the operation of the engine of course is fuel. An unobstructed flow of fuel is the lifeblood of an engine. All components of the engine rely on the fuel to allow them to operate effectively and consistently. Conversely, any restriction of fuel will cause the engine to operate inefficiently, damaging parts and potentially causing the engine’s performance become erratic or to stop operating altogether. This comparison created many parallels as to the operation of a business and the critical role predictable cash flow plays in optimizing its performance.
While having predictable cash flow is seen as fundamental to the operation of a business, the ripple effects on all aspects of the business, not unlike the effects of fuel on the operation of the engine, bear further mention. The overall impact is that business decisions can be made, versus limitations and/or deferral due to undetermined receipt of payments by customers. These include:
- Timely payment of suppliers – ability to take on more/larger orders and potential to negotiate discounts
- Staying current with payables
- Equipment leasing/purchase
- Expanding facility or acquiring a new facility
- Retaining/adding employees
- Staying current on tax payments
- Expanding marketing efforts
- Engage needed advisors/consultants
While the above list is not all encompassing, it highlights the critical impact cash flow has on the business. An important by product is improved financial performance, ability to reduce debt and position the company to be a viable candidate for traditional financing or the ability to increase current financing availability. The result is a «high performance company hitting on all cylinders».
If your clients and/or prospects are experiencing «engine knock» in the operation of their business due to poor cash flow, I’d be happy to discuss a tune up and maximizing their financial MPG.
Just In Time – Just In Case
When a pressing need arises, we’re just in time. When planning for the future, we’re there…. just in case.
In working with a variety of clients, there have been numerous scenarios that called for using my financing services. They have run the gamut from seizing a sizable business opportunity to just keeping the doors open. In many instances, the timing was crucial, and we were “under the gun” to establish the account and start funding. In the alternative financing industry, these occurrences are common. However, it benefits all parties if a more time is available to address the issues on a proactive and strategic basis. While it may be a short term or “one off” financing need that we’re addressing, more often a longer-term integration of alternative financing is called for. That being the case, having time to assess the impact of predictable cash flow and the ability to confidently take on larger clients/orders aids in being able to make critical business decisions, many of which have been deferred due to the lack needed financing resources. Equally important, is the business owner’s ability to utilize those resources as they see fit. By being able to do so, the overall cost of the financing can be more effectively controlled.
At Liquid Capital, we utilize a business model that provides the business owner not only the needed financing but a level of discretion and flexibility to customize our services to their specific needs. Once a client’s customers are approved, our client can choose which customer, which invoice/s and the timing. Whatever the situation; a seasonal spike or lull in sales, a creditworthy but slow paying customer, a supplier needing a payment before shipping or an inordinately large order, the client can use our services as needed. Conversely, if there’s no current need, there is no requirement to use the financing nor any cost for not doing so. Being available as an “On Call” resource gives our clients confidence and comfort in conducting their business free from the frustration of second guessing when or if they’ll have needed cash flow.
This same flexibility benefits our banking partners. In working with a bank client, many times it’s only necessary to finance receivables of a select number of clients and specific invoices versus having the client finance all eligible invoices. This allows us to address the needs of the client while leaving the bank in a secure collateral position…. truly a win/win scenario.
“Success or failure in business is caused more by the mental attitude even than by mental capacities”. – Walter Scott
Tom Stamborski Cash Flow Financing – “The Mind’s Eye”
No matter what stage of business you’re in, get ahead with Tom Stamborski Cash Flow Financing tips and business advice.
In working with various clients and prospects, beyond the strategic cash flow financing that I provide, the mindset of the business owner is an important factor that has to be taken into account. The business scenarios that create the need for my services cover a wide spectrum of circumstances. They run the gamut, from high growth to business survival.
Central to the situation is a triggering event that creates the need to enhance cash flow.
Can’t qualify for traditional bank financing?
For newer companies that currently don’t qualify for traditional bank financing, private assets are normally limited and operations progressively become strained. Suppliers demand upfront payments and restrictive terms. Customers prefer to stretch out their payables as they contend with their own business issues, creating an unpredictable cash flow stream. Continuance of this scenario puts many companies at risk during a very vulnerable period in their life cycle.
Need even more financing?
For high growth companies, a common problem is that, in many instances, their current bank is unable to increase the level of financing availability as rapidly as their growth would dictate. This, of course, is an unfortunate situation as their growth opportunities could catapult them to the next level of development.
Are there more options?
For companies that fall between these two scenarios, there are different variations. Due to industry downturns, poor management practices, internal disputes, etc., their financial statements reflect losses and weakening financial ratios. This can result in their financing availability being frozen, reduced or not renewed.
In the case of their current bank having capital issues, the result could be the bank asking the client to leave. As the situation intensifies, it logically puts increasing pressure on the business owner. As they become more fixated on finding a solution, they unfortunately are drawn away from important business activities, thereby exacerbating the problem. In many instances, by the time I’m called in to assist the prospective client, I’m providing a form of cash flow triage.
Tom Stamborski Cash Flow Financing: Helping you get ahead
As I’m able to implement a strategic plan to address and stabilize their cash flow needs, the corresponding benefit to the business owner is their ability to revisit important aspects of their business such as developing or refining their business plan, marketing and sales as well as expenses and profit margins. With predictable cash flow, they can confidently make the important business decisions so vital to their company.
Being in business is not a clinical exercise. It’s fraught with a range of emotions that run the spectrum, from bolstering a business owner’s confidence to a level of concern bordering on desperation. I’m gratified that I have been able to play a part in delivering the financial resources so crucial to the viability and growth potential of my client’s businesses. I’d welcome the opportunity to be of service to those prospects and clients where you deem my services to be appropriate.
“Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice and discipline”. – Jim Collins
Michael Sokoloff
Michael Sokoloff is the President of Liquid Capital Business Funding, located in Mount Laurel New Jersey, where he works with small and medium sized businesses to help them acquire the working capital they need to succeed.
Michael has a Bachelor of Science degree in Computer Science and Engineering from the University of Pennsylvania. He has more than 30 years of experience selling a variety of solutions to businesses, including software, human resources services, commercial real estate financing and brokerage, and payroll and related services. Persistent and hardworking, Michael has helped businesses optimize their performance and significantly reduce their costs.
Now, through Liquid Capital Business Funding, Michael is fulfilling his dream of owning his own business, while using his extensive experience to help his local business community grow. Michael is a member of several local business associations and is a long term resident of Southern New Jersey. He is a Philadelphia sports fan, car enthusiast, and music/audio equipment devotee. Michael and his wife Judy are the proud parents of two; a daughter who is a 2nd year MD resident in internal medicine planning on specializing in endocrinology, and a son who is a sports director at a CBS affiliate who graduated college with a major in radio and television.
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Newsletter - Michael Sokoloff
Tom Stamborski
Tom Stamborski is the president of Liquid Capital of Illinois, which helps small and mid-sized businesses with their alternative financing needs.
Born in Chicago, and a life-long resident of the Northwestern Suburbs, Tom is a finance specialist with career experience and expertise that spans more than four decades – and all of it in the financial services industry.
After attending Fresno State University and entering the financial services industry, Tom’s career path began to broaden. His tenure as a management executive was augmented in his capacity as a business owner and entrepreneur. Over the years, Tom has worked with individuals, business owners, and financial institutions, and has been involved in a diverse array of personal and business planning issues.
A strategic and analytical thinker, Tom is able to quickly decipher complex business scenarios and formulate incisive solutions, all the while working collaboratively with his clients. He is a genuine listener – a unique business attribute that allows for a full assessment before responding to client needs. After all, with a career of over 40 years behind you, one learns from those experiences – and providing better service to accommodate client’s needs becomes a priority.
As a Liquid Capital business owner, Tom fully understands the needs of other business owners. He brings a depth of understanding of the issues and challenges they face. But delivering a high level of service is just the beginning – building rapport with clients and developing viable business strategies completes the package.
Providing business financing and management direction, as well as responsive service are the key components of his full service approach to the client relationship, which Tom delivers to clients throughout the Midwest and beyond. This, along with a high level of communications with all related parties. But quick turnaround is another key element – because both business solutions AND financing are quickly initiated and implemented.
Married for 48 years, Tom’s wife Diana is also an entrepreneur, but in the training industry. Tom is a Vietnam veteran, having served in the Navy and is a member of the American Legion. He balances an active business life with sports and leisure activities that include physical fitness, tennis, fishing, and travel. His industry affiliations include the International Factoring Association, Secured Finance Network, Turnaround Management Association and Small Business Advocacy Council. Community involvement includes the McHenry Area Chamber of Commerce as a board member. Tom is also the Senior Vice Commander for American Legion Post 690 in Palatine, IL.
Tom’s charitable activities include St. Jude’s Children Hospital, Tunnel to Towers Foundation, The Wounded Warrior Project and The Humane Society of the United States.
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Newsletter - Tom Stamborski
Larry Schaad
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Larry Schaad is the owner of LFS Capital, Inc. in South Florida, which franchise specializes in providing small to medium sized clients with an array of accounts receivable financing solutions and receivable management services, including credit checks, collections and administration.
Larry is an extremely experienced finance professional having over 20 years in commercial banking and over 10 years in corporate treasury. He decided to leave the corporate finance world in early 2013 and become a small business owner by acquiring LFS Capital, Inc. Liquid Capital is an established international network of finance professionals with over 80 offices throughout North America.
Prior to purchasing LFS Capital, Inc., Larry was Divisional Treasurer at LNR Partners LLC on Miami Beach and Corporate Treasurer with Danka Business Systems plc in St. Petersburg, FL. Larry’s banking experience began in the early 1980’s with Continental Illinois National Bank and Trust Company and went on to include Bank of America and Raymond James Bank.
While currently residing in Miami, Larry’s work has allowed him to live in Saint Petersburg, FL, London, England, Atlanta, GA, Chicago, IL, and Dallas and Houston, TX. Larry holds a Bachelor of Science Degree in Business Administration from the University of Florida.
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Newsletter - Larry Schaad
Drs. Amul and Parul Purohit
Drs. Amul and Parul Purohit jointly own Liquid Capital of Northern California, which offers working capital financing to small and medium sized businesses.
Highly trained, Amul is a business leader with over twenty-three years of exceptional management and professional experience. He has supervised staff of 185 with total responsibility for P & L, budgeting, process control and quality improvements; high performance team building, team enhancement, general management, meeting production, and sales goals. Amul has a proven track record in the areas of business improvement and development, sales and marketing, merchandising, quality improvement, transgenic agronomic plant management, sales and production planning, coordinate growing, and production protocols. He is knowledgeable in the areas of, building high performance teams, seed packaging, “deep cool” refrigeration of seeds, quality improvement, P & L analysis and management, computer analysis on manufacturing of nursery plants, space prioritization and optimization, visual aid to build team and improve process control, inventory control, personnel, accounts, sales, marketing and quality purchasing.
Parul has advanced technical degrees and over 30 years of scientific and professional experience including over 9 years of teaching experience. She has co-authored a book chapter, wrote over 10 published papers in peer-reviewed journals in addition to many internal reports and proposals. Parul also holds the Patent on «Method for the preparation of ZnS/ZnSe laminates using CVD techniques, 1990.» In addition Parul has excellent communication skills and has given many presentations and seminars.
Honest and outgoing, Parul and Amul are dedicated to providing highly personalized service to all their clients. When a client of theirs was struggling financially after going through bankruptcy, and wanted to start a distribution business, he was not able to get any help from the SBA or the bank. With financial assistance from Amul and Parul, the client started growing exponentially and after 3 years he became «bankable» and now has expanded his business to 10x his initial volume! Parul and Amul are happy to say that he still keeps in touch and highly values the services they were able to provide.
Amul and Parul are members of the Business International Network, the Asian Chamber of Commerce, the Stockton Builder’s Exchange and the TIE. Always giving back to their community, they volunteer with the American Youth Soccer Association, The India Association of Davis, and Amul as an Election inspector in Yolo County-Precinct 021. Outside of the office, Parul and Amul enjoy hiking, travelling, reading, and music.
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Newsletter - Drs. Amul and Parul Purohit
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