America’s Top CFOs Help Secure $251M in PPP Loans

America’s Top CFOs Help Secure $251M in PPP Loans

by | Aug 3, 2020 | B2B CFO® In The News, National Releases

MESA, Ariz., July 24, 2020 /PRNewswire-PRWeb/ — In the wake of COVID-19 dealing a hard blow to the economy, B2B CFO, a national firm dedicated to providing management advisory services to privately held companies, came forward to offer advice and Paycheck Protection Program (PPP) application assistance to privately held businesses across the country. A survey completed by B2B CFO partners indicated that they assisted 519 businesses to receive approximately $251 million in PPP loans during the first three months of the pandemic. “The PPP loans these companies received have kept about 25,000 people employed,” stated Jerry L. Mills, founder and CEO. “Not only have we helped those employees, but by extension their families.” For every job that was protected by PPP loans, there is a family that was able to continue putting food on the table, cover rent and utilities, or otherwise continue on without the uncertainty created by business closures and stay-at-home orders. While it is hard to know exactly how many lives were directly impacted by the loans, Mills says that estimating four people to a household means their work has kept life stable for approximately 100,000 during the pandemic. B2B CFO partners worked with business owners in one-on-one sessions designed to inform them about immediate actions, navigate the PPP loan application process, plan cash flow through closures, and provide valuable insights on how they could restart their businesses. But for the company, which has a history of working with business owners stricken by natural disasters, the consulting sessions were more than a bottom line – the overall impact on each business that received a loan allowed...
Why Many Businesses Don’t Sell

Why Many Businesses Don’t Sell

by | Mar 20, 2018 | National Releases

B2B CFO launches nationwide program to educate business owners on key issues involved in selling their companies MESA, Ariz. (2/21/2018) –   It’s not the lack of money, nor the lack of interested buyers that stands in the way of many owners looking to sell their businesses.  According to B2B CFO, the nation’s largest business transition firm, the main reason why most business owners are not successful in transferring ownership is because their companies are not ready to undergo the sale process. “Most business owners have never been given the proper information needed to sell their business,” says Jerry L. Mills, CEO and founder of B2B CFO. In the United States there are 20 million of privately-held companies. Of those, about 5 million have five or more employees, and only 150,000 of those have sales between 9 million and 100 million USD.  On average, since 2009, only 9,294 of these companies are sold each year.  This statistic immediately begs the question of why only such small percentage of businesses successfully transfer ownership. Michael Nall, Founder of the AM&AA (Alliance of Merger & Acquisition Advisors) notes that according to their findings, the institutional investors and private equity groups are just as frustrated.  “There is an unprecedented amount of equity capital currently available on the buy-side,” said Nall.  “Private equity groups, institutional investors and corporate buyers want to add to their portfolios and have ample resources to do so.  The problem is that many privately held businesses lack a business model and a management team that can run the company without the owner and often do not have the systems and processes...