Case Studies

These case studies are unique scenarios that our clients have found themselves in. The names and businesses have been changed for obvious reasons, but the lessons remain. 

Meet Tony...

Tony is the proud owner of a local deli/convenience store located on the outskirts of town.  The business has been in the family for three generations and had a steady stream of customers until the local factory shut down and Tony lost nearly half of his traffic.  Word is that a new company has plans to take over the space and will become operational within 18 months.  Having reached the age of 67 Tony had plans on retiring soon, and turning the business over to his children.  The problem is, that none of his kids want it.  They have careers of their own and see the deli as an inconvenience.  With the decline in income, Tony has had to borrow from his retirement savings to keep the business running.  

What should Tony Do? Contact SBA to find out what happened next...

Say hello to jan

For over 20 years, Jan kept the books for her husbands plumbing company. She was involved with small, day-to-day activities, but when it came to running the business, her husband kept her in the dark. When a sudden car accident took her husband's life, her whole world turned upside down. It turns out, her husband had zero life insurance and hadn't done any estate planning. Now Jan has inherited the business and is left to figure out how to run a plumbing company. A few weeks in, she gets a letter from the IRS saying that she owes back taxes and they've valued the business at an astronomical amount and guess what - she owes a lot of taxes! 

What went wrong here? How could this have been avoided? Contact SBA to find out. 

This is Jeff and Jason. They're mechanics.

They're running a lucrative business that has made them a lot of money in just a short period of time. Their workplace is compliant, the staff and customers are happy and they’ve just purchased their first homes – which makes their parents very happy.  It’s the end of the year and its time to get ready for tax season. They've made many large purchases and a multitude of smaller ones, but can’t locate the receipts!  They have a new software system that can track their sales and expenses, but they were never trained in how to use it efficiently or how to synch it with the cash register.  They sit down to do their taxes and discover an error in the amount owed to the IRS.  Somehow they owe the government about half of all they've earned in the past year!  That’s a whole lot of money. 

How could this be?  Who are you really working for? Contact SBA to find out what happened next.

Steven, the cardiologist

Steven saved for over 10 years at his last job to finally be able to afford a private practice of his own. When the day came, he bought two practices that he could finally call his. No more answering to anyone but himself. He was getting used to the day to day operations when he got an e-mail that he had to integrate his electronic system in order to comply with local hospital standards. Part of the software overhaul included changing billing companies that handled Steven's practices. To make a long story short, the new billing company totally dropped the ball and left Steven with 90 days of unpaid billings. In an attempt to save his business, Steven went out and factored all of his receivables. Now the time has come for him to pay back that note... 

The banks won't lend to him. Who can Steven turn to now for non-traditional financing? Contact SBA to find out what he did next...