What is the history of the opening of 1st Capital Finance, Inc. (1st CFI)? The Company was conceived February 2011 in honor of MSG Malinda Pinckney (1951-2011). Incorporating June 2011, State of Georgia, USA Control No. 11049651. BBB accreditation was earned on July 2011 based upon scrutiny of financials and references validating over eighteen years of primary and secondary market experience. They entered into a cost management partnership that same month. September 2011, 1st CFI was syndicated to a network of well-funded and reputable investors to provide debt financing from $ 5M to $ 500M. Their signature product, 1STCFI CASH EXPRESS provides $ 5K to $ 150K in unsecured an unsecured business loan within 7 business days. April 2012, the company began offering services to assist Entrepreneurs with becoming investor ready. 1st CFI became a member of the largest and oldest equity firm in our area to remove barriers to equity financing in August 2012. September 2012, the founder, Dionne Henderson, was voted onto the Board for the Atlanta Women Entrepreneurs Association. She holds the Director of Finance and Sponsorship position. Our official launch date was November 19, 2011. We took to the air with Georgia Sky Dive to celebrate what should have been MSG Pinckney’s 60th birthday.
What does 1st CFI do? 1st CFI is a visionary full service financial consulting firm that helps small to mid-size businesses significantly find ways to improve the overall health of their entities by helping them increase profit, reduce operating expenses and find capital. They do this by finding undiscovered cost savings of 10 to 50 percent in more than 35 indirect expense categories, ranging from the cost of freight and payroll processing services to money spent on pens and paper. They partner with well-funded and reputable Lenders, Investors, Angels and Venture Capitalists to provide loans and lines of credit to clients. They align with non-for-profits and craft owner financing programs to increase client revenue. They have a pipeline of over 8000 charitable organizations they leverage to share the goodwill of their customers.
Will this take a lot of my time? We require very little of your time or your staff’s time. For instance, we have a process for established business in investor ready condition, where you fund in 48 hours. Some debt alternative proposals can be reviewed in a virtual setting. For large cost savings engagements, when we are onsite, we are very self-sufficient. We simply need a place to sit and access to your Accounts Payable (A/P) files. Throughout the course of the project there are status meetings to update you on our progress. These can be done by conference call, and recorded for other stakeholders to playback when they are ready. There is very little time commitment necessary.
Shouldn’t I just go to a bank? A company that is strictly brokering loans? What about online “pit lender against lender” platforms?
Banks do not lend to FICO scores as low as 520. Banks do not give up to $ 150,000 in 7 days with just three months bank statements, 1 year’s tax returns and a commercial lease agreement. Banks do not lend up to $ 35,000 in 2 days with just one month’s bank statements. A broker or online matching engine or platform, even if they have levels of support, simply overlooks the overall health of organization:
They ignore if your company is bleeding cash.
They ignore if you may be able to avoid the maximum loan amount.
They do not donate a share of their commission to a charity in your honor providing your company with exposure in your industry or community. They do not show you how to grow your profits and increase revenue.
They cannot provide you with six month, one year, three year and five years of financial projections to help your short or long term plans.
“Pitting one lender against the other doesn’t work if you could have avoided debt altogether!” – Dionne Henderson, CEO
Why don’t I just have my CFO or internal A/P or purchasing staff find cost savings? Your CFO time should be too valuable to sit for long hours analyzing your accounts payable files. Your internal people don’t have the leverage we have access to because as a 3rd party, suppliers become more motivated and willing to work with us to reduce costs. They understand that 3rd party is in a position to introduce them to other clients of ours or other competitors. It’s not something we guarantee, but it is incentive for your suppliers to participate in negotiation.
What type of organizations can utilize your services?
We work with profits and non-profits. Certain states have restrictions on the types of loans that can be made to certain entities. Certain non-profits have regulations on what type of agreements they can enter into. We defer to our clients to be sure they know all the state, federal, local and regulatory rules associated with their type of entity and the requested transaction with 1st Capital Finance, Inc.
What happens if we decide not to implement our recommendation? You are under no obligation to implement our recommendations. However, we understand that there is more to choosing a financial consultant than price alone. In fact, we do not get paid unless you implement our recommendations, save money as a result and/or close a loan. Therefore, we are very motivated to provide you with outstanding service so you will become a lifelong client as your grow your business.
What information do you require to get started with a cost and spending analysis? We simply need your 12 month Accounts Payable Summary file by vendor; we will analyze this and use our 20 years of experience to produce a personalized “Preliminary Savings Analysis” based upon your existing spend with your existing vendors. This will give you a conservative expectation as to what we can deliver. How else can we know what we can save your organization without first seeing what you are spending?
What information do you require if we get a loan? Our signature product only requires one month bank statement to receive up to $ 35,000 in 2 days. If you provide the most recent three months statements, you may receive up to $ 150,000. The use can even be working capital. Other documents prior to closing include only the most recent year’s tax returns, commercial lease agreement and personal identification.
What information do you require if I sign up for a cost savings engagement where we split the cost of the savings you find?
Our team will pull your vendor invoices for the cost areas included in the analysis and underlying vendor agreements when applicable. We will need a brief discussion with the staff member responsible for making the purchases.
How long will a cost and spending analysis take?
Not very long. Generally, we can gather all the necessary information from you in less than a day, although larger projects may take more time to gather. To avoid taking up valuable staff time, once we are shown where vendor files are maintained, we do this work on our own. We deliver our comprehensive Savings Report about six weeks later in a face-to-face meeting with you.
How will my organization be billed after you help us save money on operational spending? Your Company only pays after we save you money. We are paid a percentage of the savings realized. This fee is paid over time as your savings are realized. If we do not save you any money, we never get paid. No results, no fee. It’s that simple. We guarantee it.
Does it really work? Yes, very well and successful. Our service is unique in that generally we are only paid when your company realizes savings. Few companies are so confident in their services to make their fee dependent upon the success of their service. You have nothing to lose.
How can I get started? We make it easy for you to get started. For loans, apply on line or use or contact us form.