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|Articles - May 2011|
|Wednesday, April 20, 2011|
Hard-money lending can be a hazardous occupation in the best of times. In the worst of times — say, 2008-2010 — it can be a nightmare. Everybody got hurt when property values plummeted and default rates soared during the recession, but few industries took as big a hit as did hard-money lending, the risky act of funneling loans into troubled businesses at high interest rates, using property as collateral.
Fairway America president Matt Burk heard from plenty of potential customers during the worst of the recession, desperate small-business owners looking for capital while struggling with everything from back taxes to plunging sales to employee theft. Unfortunately, he says, “By the time they’d come see us, it would be too late. If they had done some things differently, they could have avoided the situation they got into.” But they didn’t — often because they lacked expertise or were stretched too thin to pay attention to important details.
After years of finding loans for companies in poor financial shape, Burk felt he had a good understanding of the problems that get small businesses into trouble, and how to avoid them. So rather than trudge on in a market upended by bankruptcy and foreclosure, he has moved his company into the consulting arena. Fairway’s new “finance coach” service offers financial guidance to companies for annual subscription fees with lots of nines and sevens: $997, $1,997 or $11,997 per year. Participating businesses need to provide tax returns, loan documents and financial statements. In return they get a report highlighting strengths and weaknesses and recommended strategies for recovery and/or growth.
Burk says he’s expanding his 13-employee operation to offer an old-school banking service that is more “entrepreneurial and flexible” than what banks can provide, and a lot cheaper than what accountants provide. Oh, and he can help you get a loan if you need one. An early list of clients includes Everett Street Autoworks in Portland, the Oregon City Golf Club, Renaissance Homes in Lake Oswego and Nossa Familia Coffee in Portland.
Wednesday, June 17, 2015
Friday, July 10, 2015
BY GREGG MORRIS
Rita Hansen aims to scale natural gas vehicle innovation.
Monday, July 13, 2015
BY KIM MOORE
A conversation with Greg Lambert, president of Mid Oregon Personnel Services.
Tuesday, July 14, 2015
The Big One serves as an allegory for Portland, a city that earns plaudits for lifestyle and amenities but whose infrastructure is, literally, crumbling.
Monday, July 13, 2015
BY KIM MOORE | PHOTOS BY JASON E. KAPLAN
A New York floral and gift business takes on the iconic Harry & David brand.
Friday, July 17, 2015
Photographer Jason Kaplan takes a look at Murray's Pharmacy in Heppner. The family owned business is run by John and Ann Murray, who were featured in our July/August cover story: 10 Innovators in Rural Health Care.
Friday, June 05, 2015
As temperatures in Oregon creep into the 90s this weekend, Oregonians' thoughts are turning to — summer baseball.
|10 Innovators in Rural Health|
|The Private 150: From Strength to Strength|
|Downtime with Debra Ringold|
|Farm in a Box|
|Flattery with Numbers|
|Preserving the Legacy|
|Fiat Chrysler must offer to buy back 500K Dodge Ram trucks|
|Portland kayakers protest ship owned by Shell Oil Company|
|Amazon earns $92M in profit|
|Under Armour bests Q2 earnings expectations|
|More than a hundred passengers forced to stay overnight at PDX|
|Immunization rates to be available to parents|
|CEO who pledged $70K minimum wage sued by brother|
Court experience helps legal firm anticipate potential problems for clients and prevent expensive litigation.
When Garmin AT needed to consolidate operations for its 550 employees, it scanned its entire corporate map for possible sites.
The technology industry is always in flux. And this rapid rate of change poses challenges to companies ranging from nimble startups aiming to make their mark to established organizations fighting to remain relevant. This is particularly true in the competitive digital display market, where an Oregon company has been at the forefront of nearly every major breakthrough in the last three decades.
A look back at the shifting sands of Portland’s growth and development.
Robert S. Wiggins has joined Lane Powell as a Shareholder in the Corporate/M&A Practice Group. Wiggins is a well-known lawyer, entrepreneur, and investor with more than 30 years of experience leading and advising established and emerging companies in the Pacific Northwest. Wiggins will focus his practice on offering outside general counsel services, including general corporate and board representation, business transactions and capital events.
DEDICATION PARTY: Help the Port of The Dalles celebrate its newest shovel-ready industrial land Friday, July 31, from 1:30 to 4 p.m.