6459 business close in Connecticut during the first 6 months of 2009! Debt workout would have saved many.
Just guessing but this could mean as many as 15,000- 25,000 jobs, 25,000 families about to go into a meltdown.
Some businesses closed because revenues were down and overhead, payroll, debt service, etc could not be supported. Many closed because the buying attitude and habits of our market places are changing, people are spending less, demanding good deals and deciding what they need vs. what they want. Even if wealthy, are spending less and spending more in. Business must either meet this challenge head on and eliminate its debt, making he necessary changes or close.
Many were forced shut by the secured lenders as they opt to foreclose and liquidate collateral.
If only they called us, as we understand the requirements of a downturn.
We are experts in debt workouts with secured banks and SBA guaranteed loans in default.
We preserve business assets, protect homes and wipe out debt. Magic you say! Could not be true you believe! What choice do you have? 6459 decided to close and did not call us. They have no choice now, they are in deep trouble as they still owe the debt through their personal guaranties but no longer have the business to provide the cash.
Those who are calling us are experiencing the relief they need to survive and yes prosper in this down economy. What would your business look like without debt? If the answer is above break even, profitable, then call us we can help you survive and prosper.
Those that did not call us are out of business and in trouble. It causes me great pain to know he enormous suffering the closing of a business causes to families, children and other businesses supplying them with goods and services. The ripple effect is huge. The cost enormous, and all avoidable.
Call us we can help. 413-549-2581, Norm will arrange a no obligation tele-conference for us to discus your options. Do it.