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For many under-performing companies, timely access to qualified management and financial resources can often mean the difference between a successful turnaround or a business failure. First Resource Corporation is uniquely qualified to provide the financial and managerial assistance distressed companies need. Our crisis management professionals have the knowledge it takes to develop an effective workout plan and have successfully helped clients to achieve a total financial turnaround.
In addition to our comprehensive crisis management and financial counseling services, we coordinate the efforts of owners, creditors, accountants and attorneys to explore a wide range of recovery options. We deal directly with lenders outlining the positive steps that can be taken to meet current financial obligations. We can also address the need for new funding through the close relationships our advisors have established with debt and equity funding resources. First Resource’s advisory team will also recommend operational procedures to improve efficiency and reduce costs, and develop strategic marketing and promotional programs to increase sales.
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Unfortunately, many business owners overlook the beneficial services available through professional crisis consultants. First Resource Corporation offers troubled companies a viable alternative to bankruptcy. Through our years of experience in debt restructuring, we have the knowledge and ability to work closely with suppliers and creditors to gain the time and protection needed to continue business operations. We can help businesses avoid both the stigma and restrictions that are associated with bankruptcy procedures. But more importantly, by retaining First Resource crisis managers, you can show your creditors that your company is taking positive action to identify, address and deal with the problems that led to your financial difficulties.
The process continues with an assessment of the client’s financial, operational and organizational ability to participate in the undertaking. This helps to establish a clear understanding of the financial requirements, management capabilities and other resources that may be needed or currently available in structuring a favorable transaction.
We then develop specific criteria to identify merger or acquisition candidates. This includes company size, industry, market share, performance characteristics, geographic locations, management experience and other parameters. Once a target is identified, we develop specific performance criteria that will be expected of all parties involved in the transaction. This step is essential in establishing an effective management team, ensuring compatibility, and minimizing any misunderstandings among the transaction participants.
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There are many reasons that may influence businesses to reorganize. A reorganization may be prompted by the need to recapitalize or to allow for shareholder distributions. A reorganization may be required to attract equity participation, to refinance or restructure an existing bank loan. It may used to improve an organization’s position, allowing it to expand into new markets or take advantage of unique opportunities. Sometimes, a reorganization may be desperately needed to help a business survive.
Because reorganizations for either financial or operational purposes are an infrequent corporate event, businesses should seek the assistance of knowledgeable professionals with a special degree of skills and expertise in the reorganization process. First Resource advisory team offers the hands-on experience to manage all phases of the reorganization project.
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Many smart companies today are banding together in an effort to increase market share, create new products, provide better services, improve efficiencies and reduce costs. The incentives for entering strategic alliances are not limited to financial concerns and production efficiencies. Strategic alliances and corporate partnering often provide vital solutions to acquiring needed technical resources, professional skills or manpower capabilities. They can provide a business with entry into new markets, take advantage of unique marketing opportunities, obtain needed production facilities, expand existing channels of distribution, or provide other business advantages.
First Resource is capable of identifying and negotiating favorable joint venture opportunities. We have the experience required to establish a plan that protects the interest of the smaller partner as well as those of the primary contributor. We begin by determining strategies that will lead to an appropriate alliance. We also assist client companies in sourcing and identifying compatible candidates and combined opportunities, as well as negotiating the process, formulating an agreement, preparing documentation, and arranging the necessary financing.
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