My Business Is My Life. If It Fails, I Am A Failure Also.
We fly business owners who are in default into our office, business owners who are interested in our services and have reached out to us and have had a no-obligation teleconference to analyze their situation and determine if we are a right fit for them. We invite them to fly into our office, on us, to stay over for a night and spend time with us learning who we are and why they should trust us with their financial and business life.
I recently had a terrific man fly in and he very clearly stated what I hear so often:
“This business is my life. I have put my heart and soul into it, along with every penny I could beg, borrow, or steal. I have wiped out my 401k, my credit cards and my savings. I have lost all my real estate investments, I have lost my wife through divorce (she could not handle the stress) and now I am here, hoping you can do what you say, because if I lose this business I will have lost everything that is important to me.”
How true an admission. His money, his wife (fortunately, no children) his real estate… were already a cost of this downturn but his business was his identity and he could not bear to lose it as well.
This is the reality of so many entrepreneurs and small business owners who dare to take risks and have put their heart and soul into a business and refuse to lose it. With few options, as they are already forgoing their check and have made huge sacrifices to keep their dream alive, they show up hoping we can deliver what seems to be the impossible: debt forgiveness. The only answer for survival and emergence as a successful business with lower gross revenues.
My response is always: “We get it and we also refuse to lose and never do. Our clients succeed, we succeed, we deliver the promise. This is our mission. We understand your commitment, your sacrifice and what is at risk and we match it with our own commitment to make the workout successful. You have come to the right place.”
I love the passion, I understand the commitment. I get what is at risk and this is what it is all about. This is the heart and soul of a small business owner. Total and absolute commitment.
Hello, thank you for taking the time to read my situation. My father and I purchased a business in Arizona 3 years ago using and SBA loan, for roughly $1mil. The SBA, through CIT, put a second on our ranch back in California. The ranch was worth $5 mil at the time. The ranch dropped in price dramatically, and we ended up losing it in foreclosure. Then my father, who is the primary on the loan and the ranch, decided to declare bankruptcy, virtually eliminating the first and second on the ranch and all his personal debt. The bankruptcy did not affect our Business in Arizona. We have continued to make our CIT SBA loan payment for the last 3 years, but it has become increasingly difficult to make the payments. We want to stay in business, but need help with our SBA loan. I found you guys on the internet and was hoping you guys could help me out. I look forward to your response. joe Lucidi – 619 203 1779