Source: Rick Waechter, Old Peak Finance Executive compensation is a broad term used to encompass the many ways professionals are compensated throughout their careers (and after). This overview dives into an increasingly important topic in executive compensation: Restricted Stock Units (RSUs). Whether you’re already familiar with RSUs or just starting to explore them, this guide […]
Understanding Restricted Stock Units (RSUs) Read More »
Late last year, the federal Small Business Administration (SBA) began implementing significant regulatory changes. In government jargon, this was the SBA’s Standard Operating Process (SOP) 50 10 7.1 taking effect. The good news is that there were a number of changes that could be very impactful to small business owners and their access to capital.
Update on SBA 7(a) Small Loans – More Flexibility for Business Owners Read More »
For ALL companies, large, mid-size, and small, financial management plays a pivotal role in determining success. While many small companies start with basic bookkeeping to manage their finances, there comes a point where professional finance and accounting expertise above the simple bookkeeping level become indispensable. This is where the roles of CFOs (Chief Financial Officers)
Why Small Companies Often Need More than Just Bookkeeping Read More »
Have you ever heard of a business losing money but still having cash in the bank and continuing to generate cash monthly? It may sound like a financial impossibility, but it’s actually possible and happens more often than you might think. While this concept might also seem confusing initially, it’s an important aspect of financial
Is It Possible to Have Negative Net Income and Positive Cash Flow? Read More »
Source: Small Business Administration Standard Operating Process (SOP) Fnbsmallbusiness.com The revised Small Business Administration (SBA) Standard Operating Process (SOP) 50 10 7.1 took effect in November 2023. There were several changes that could be very impactful to small business owners and their access to capital. This article is the first in a 4-part series on
SBA Business Acquisition Loans – Recent Policy Changes Read More »
Source: Corey McLellan, Bridgepoint Consulting In today’s volatile economic environment, organizations must react quickly to changing market conditions without compromising their financial health or competitive edge. But all too often, these periods of rapid growth and change introduce financial and organizational chaos, hindering an organization’s ability to forge their path forward – and sometimes, they
How Hiring an Interim or Part-time CFO Helps During Times of Growth or Stress Read More »
Source: David Gardner (Founder of Cofounders Capital), originally published by WRAL TechWire. Albert Einstein is credited with saying that compounded interest was the greatest invention of the twentieth century. I would like to think that if he were alive today, he might argue that software (SaaS) exit multiples have taken that spot. It still amazes
Selling a Low Revenue Tech Company for Maximum Cash Read More »
Source: PitchBook, Kyle Stanford, Lead Analyst, Venture and Crunchbase Final data is in, and 2023 was an extremely difficult year for the venture capital industry, broadly speaking. A slower final quarter ended a lackluster year for global startup funding as venture capital investors continued to hold back in 2023. Global startup investment in 2023 reached
Venture Capital Market Update Going into 2024 Read More »
ATLANTA, January 24, 2024 — BELAY continues to expand its exceptional client offerings by acquiring Scale Finance for its specialization in fractional CFO and Controller services under the BELAY brand. This is the latest addition to BELAY’s ever-expanding suite of services and continues its momentum as one of Inc. 5000’s fastest-growing companies for nine years
BELAY Acquires Scale Finance to Expand Fractional Financial Services Read More »
Source: Business Wire High-growth field service management platform at the convergence of SaaS and payments helps customers simplify operations, streamline their sales processes, and improve collections Complementary solutions align with current customer base’s needs, enhancing cross-sell opportunities and strengthening relationships Further expands total addressable market WEX (NYSE: WEX), the global commerce platform that simplifies the
Former Scale Finance Client Payzer Acquired by WEX Read More »
Graf Research™ unleashes innovation by developing ideas into disruptive technologies. The Graf mission aims to perform research, provide services, apply analytics, and create products that enable secure, high-performance, embedded, and adaptive computing solutions.
When the Director of Finance for Graf was leaving the company, Graf needed an experienced financial team to get them through the transition. Managing Director Gary Hayes was introduced to Graf and determined that CFO Rendy Richards and Controller John Schefke would be an ideal combination. These two were particularly important because Graf is a U.S. Government contractor, and both Richards and Schefke have strong backgrounds and deep skill sets in this industry.
The two Scale Finance professionals quickly responded to Graf’s time-sensitive need, logically split up the work, learned the DELTEK version used by Graf, introduced more efficient processes and techniques, and helped meet their financial reporting needs. Our professionals also determined that the Senior Staff Accountant was underutilized and helped her grow into a permanent, cost-effective Controller role.
FX HedgePool (FXHP)
FX HedgePool (FXHP) is a New York and London-based highly innovative fintech company. FXHP is an award-winning peer-to-peer matching platform that optimizes the FX swaps market. The Company eliminates market impact and minimizes the effects of volatility – significantly improving outcomes for all investors.
FXHP’s unique credit model separates liquidity from credit, creating a new source of safe and dependable liquidity for the swaps market. The Company exists for the community, guided by the community with a “win-win-win” commitment that helps members, underlying investors, and banks yield safer and better results.
Scale Finance began serving FXHP years ago, providing annual business valuations to support 409A compliance for the Company’s management incentive equity plan. During this period, Scale Finance Managing Director Dave Gilroy advised FXHP about potential strategic corporate transactions. In 2022, the Company decided to raise institutional venture capital. Scale Finance managed this process from end to end, resulting in a highly successful closing of an $8 million Series A equity financing led by Information Venture Partners with participation from Fidelity International Strategic Ventures and NAventures (National Bank of Canada’s corporate venture capital arm).
Scale Finance continues to provide periodic business valuation support.
Heritage Trust
As the first independent trust company in New Mexico, established in 1994, Heritage Trust (HT) uses innovation, experience, and flexibility to meet clients’ needs. HT provides a full range of trust services, e.g., acting as their client fiduciary for their Trust assets, being an executor or personal representative related to the distribution of estate assets, managing and growing financial assets, and preparing annual tax returns for trusted clients.
Co-Founder and Managing Director of Scale Finance Gary Hayes has been providing CFO and managing Controller support since February 2021. We have streamlined their monthly and year-end close process and established budget/forecast capability to support management. Their business has grown over 40% since Scale Finance has been involved with the company’s financial management. Gary has also participated in Board Meetings as and when needed.
Southland Transportation Company
Southland Transportation provides transport, supply chain, and campus management services on a local, regional, and nationwide basis. When Southland contacted Scale Finance, they had a strong accounting staff but no Controller or CFO. After an unsuccessful search for a full-time CFO, Southland engaged CFO and Partner Rendy Richards as their fractional CFO.
Over 18 months, Richards helped integrate a new acquisition, made improvements in accounting and finance processes, developed the company’s first-ever annual budget, helped with the onboarding of a new Controller, and provided business valuations in conjunction with Scale Finance’s Managing Director, Dave Gilroy.
For over six decades, Cooper Electrical has served a wide range of industrial, commercial, and municipal customers across the Southeast, providing best-in-class Electrical Design/Build, BIM, Prefabrication, Instrumentation & Controls, and Calibration services. Cooper’s expertise spans multiple major markets, including bio-pharmaceutical, chemical, water & wastewater, power generation, manufacturing, gas production & transmission, and food & beverage.
When Cooper’s CFO left the company for another opportunity, the owners engaged Rendy Richards as interim CFO while they searched for a full-time replacement. On a half-time basis over eight months, Richards kept the company’s financial organization humming, made improvements in several business processes, initiated a detailed financial forecast, and met with the owners to share his observations and recommendations on the most feasible way to staff their finance and accounting department cost-effectively.
SymmetryRX, LLC
SymmetryRX is a leading provider of eSampling services allowing Pharma Manufacturing companies to access physician practices for the ordering and distribution of drug samples across the US. The Company was acquired in November 2018 from Aptus Health, a wholly-owned subsidiary of Merck. Since then, the company has expanded its robust suite of services that provides pharma manufacturing executives, brand managers, sales managers, product managers, and launch managers the ability to help more patients have greater access to samples, improving medication adherence and healthcare outcomes.
Co-Founder and Managing Director of Scale Finance Gary Hayes has been providing CFO Services to the Company since 2018 and was integral in the acquisition process, facilitated initial financing to support the company with a 7A SBA loan package of $600 thousand and an SBA-backed $300 thousand LOC. Since then, Gary has been actively providing CFO support across financial reporting, budgeting, forecasting, cash planning, and strategic planning.
