Funding Solutions

"While I was savvy in my area of expertise ... I was not well versed in the business of running a business. I have been self-funded, had a business plan ... but he has no credit history. Fortunately, I met Sun Capital. "- Greg Bihn, President, Technomedia International, Inc.

Having and not having

When oil engineer Greg Bihn launched TechnoMedia International, Inc., his company specializes in e-learning in 1990, he had a working knowledge of oil and natural gas, a unique product and services and an international market with a demand for its innovative multimedia training programs, a vision for growth with a solid business plan and enough savings to start his own business. What he did not, as he later learned was a sufficient cash flow to keep the company running through the ups and downs of the volatile oil and gas.

A pivotal time for his company - had to stay at the cat's head "copy" of competition

In five years, he knew that his company had reached a crucial moment. TechnoMedia need a financial solution that would not only take vision of Greg to the next level, but to infuse the company with significant working capital he needed to accelerate global growth. If he wanted to stay ahead of any potential well-funded cat "copy" of competition that could surface and outrun him to capitalize on his idea, he needed an innovative financial strategy to meet their needs cash.

Then he had a line of credit, it is not enough and venture capital has been regarded as a proposal by Greg at high risk. Although it offers many investors because of the uniqueness of its products and services and our track record and relationships, he would not relinquish control of his vision or be held hostage diaries investors with high potential return on investment unrealistic deadlines. Greg knew the value of the service he had designed. He was to remain his "baby" and he must now find food finance law.

An MBA from Harvard recommends accounts receivable financing

A friend of his, a Harvard MBA graduate, has hinted he plans to incorporate the fund accounts receivable (factoring) in its strategy to financial affairs, as well as many Fortune 500 companies do. Although TechnoMedia was not in the Fortune 500 league, like them, he had a vision for growth, cash flow requirements of financing and bills reputable, creditworthy clients. As a friend Greg said, because the financing of accounts receivable has been debt free, balance sheet business was not affected. The Harvard MBA advised him that if he finds the right funding source willing to really get to know him and his vision, understand its business in particular, accelerate their solutions and be flexible in their rules, and TechnoMedia then would be well placed and in good financial health to support their strategic growth initiatives.

"It's the best advice of company that I never got, besides the introduction, which was made for me to meet with Sun Capital, Inc.," said Greg. "While I was savvy in my area of expertise and knowledge of the oil industry and training needs related to engineering, I was not well versed in the business of running a business. I have been self-funded, had a business plan developed with the advice of Ernst and Young (in Jakarta, Indonesia, where Greg got his start), but I have no credit history. "

As his business grew, Greg has made the company survive payment of the invoice for payment of the invoice. Because of this inconsistency in the cash flow, he became reluctant to hire additional staff, purchasing and updating its facilities and the launching of the marketing program focused on the industry it needed to pass from a mother "and pop" type business for the world leader he knew cooperation.