Monday, April 25, 2011

Being a Good Corporate Citizen

One thing that sets American Receivable apart from our competition is our commitment to community service. The various organizations to which we give our time impact the lives of people right within our community.

Here are just a few of the items on our spring calendar:

Tiffany Eitel, our vice president of business development, worked tirelessly in March as a board member for Generations Heroes, the Texas Tech University Alumni scholarship fund, and Heroes for Children. Both charities specifically target families affected by childhood cancer and assist in a number of ways including family support, community awareness, and fund raising. The Texas Tech Alumni Association helps make scholarship dollars available to students in need through various fundraising activities during the year.

Executive Vice President Anne Capps began work on this years Addison Rotary Open, benefiting the Ronald McDonald House of Dallas. She will be auction coordinator for the open, the annual golf outing fund raiser for the club. In addition to those duties, Anne serves on the Addison Rotary Foundation Board and is active with the Women’s Finance Exchange. The Finance Exchange's events benefit the Dallas Women’s Foundation.

Last year the Addison Rotary raised and donated in excess of $220,000.00 as a result of its annual golf tournament. They hope to meet and exceed this amount with the 2011 event.

The Women's Finance Exchange donated thousands of dollars in 2010 from it’s tournament. In addition, through its program “Attitudes and Attire”, they have provided clothing and accessories to women re-entering the work force.

Brad Gurney, Senior Vice President, updated his First Responder Certification for Collin County and the surrounding area. Brad is on call for various disasters both natural and man made. Brad is also our main representative to the North Dallas Chamber of Commerce. Brad's work at the Chamber includes work with the Business of the Year committee, the Ambassadors and the Lots O Leads group.

We're proud of our team and their contribution to the community. Being a good citizen is a big part of who we are as a business.
The American Receivable Team

Monday, April 18, 2011

Every Cloud has a Silver Lining

Good things happen when you least expect it and it did recently--for us and a new client.

A few weeks ago we were introduced to a potential client in the industrial moving business. They just weren't satisfied with their current lender. Despite the fact that the company was making a profit and had more than sufficient collateral to cover their small loan, the bank they were doing business with just wasn't listening to them or simply wasn't interested.

One phone call from us and a visit to their facility changed this company's future.

During our visit we learned that not only were they a 31-year-old company but a certified women-owned business as well. They had taken out some financing shortly after 9/11 to keep the doors open and keep their employees on board. Now almost 10 years later they had become profitable again, taken on a number of new contracts, had equipment that was free and clear and had all but paid the bank off. Yet when they approached the bank for additional services they were given the brush off.

After starting work with us, within a week we had:
  • Paid off the bank
  • Factored a few accounts receivable to increase their cash
  • Gave them a new lease on life

For us it was a perfect fit and a great opportunity to really help this business. For our client, well, we were their silver lining.

The American Receivable Team