All Maine-based small businesses have their share of customers who take forever to pay, and even plain old bad apples who just won’t pay up. Some companies, however, seem to be battling long and unproductive billing problems with their customers more often than not. Business owners want to avoid falling into this rut. If more  Continue Reading »

Maine-based small business owners are all used to hearing different excuses when trying to collect money owed to their companies. For these delinquent customers, the real objective is often to delay, either until some time further down the road when they will have more cash, or in the hopes that the account will eventually be  Continue Reading »

It happens. Even the most efficiently run small business can run into delinquent accounts, and be faced with the unpleasant task of trying to collect on past-due accounts. Most small businesses have their own internal debt collection process, but may need to turn to a professional credit collection agency when additional help is needed. Small  Continue Reading »

Small business owners often prepare a projected cash flow statement. These set a prediction of the company’s available funds over a specified period of time. The primary goal is to determine whether the business will have enough cash to pay the bills. These statements show, ahead of time, whether it will be necessary to find  Continue Reading »

As all small business owners know, no sale is really a sale until the money is in. Most businesses no longer operate on a cash and carry basis, so customers buy on credit. This means that often the receipt of that money is delayed. Every time a company extends credit it takes a risk that  Continue Reading »

When a small company if forced to shut down, it usually isn’t because they haven’t made profits. Most small businesses face closure because they lack quality cash flow, not because they lack profits or assets. So what should a business owner do? They will face many different situations and be prepared for all of them.  Continue Reading »

It’s one thing to read about other companies facing tough financial times. It’s quite another to experience the pressure yourself. The fact is, however, that many companies are having trouble paying their debts. And small business owners are called daily by lenders who want to collect. Here are some recommendations for talking and negotiating with  Continue Reading »

Receivables aren’t really useful if they aren’t turned into cash. Your Maine-based small business really needs to keep tight control of its outstanding invoices so you are fully aware of the receivables situation and can take steps to improve the turnover of those accounts. Here are five steps that can help you speed up the  Continue Reading »

Suppose you’ve been doing business with a company that owes your Maine-based business money or has been late in paying for services you have provided. You might have even filed a lawsuit to obtain the payments. But then you receive a notice that the company has filed for bankruptcy. Filler & Associates has come up with some  Continue Reading »

Most lenders require the individual owner of a Maine-based small business to personally guarantee loans made to their business. This shows the owners’ commitment and helps ensure that the loan obligation is fulfilled. The problem is that the personal guarantee means personal assets are available as collateral. It opens an individual, or a husband and  Continue Reading »