Once upon a time...
Sam was worried about his electrical supply business, and rightly so.
The initial burst of growth over the first three years of the business had halted in the fourth year and in the fifth his sales and profitability were now going backwards.
Fast.
Sam urgently needed more bank funding to keep the business afloat until he could drum up some more sales.
So he first met with Pam, his CPA, to complete a loan application and she started the meeting by reviewing the business's financials.
Sam was worried about his electrical supply business, and rightly so.
The initial burst of growth over the first three years of the business had halted in the fourth year and in the fifth his sales and profitability were now going backwards.
Fast.
Sam urgently needed more bank funding to keep the business afloat until he could drum up some more sales.
So he first met with Pam, his CPA, to complete a loan application and she started the meeting by reviewing the business's financials.