Live Friday October 7th:
We welcomed Jeff Thon: Founder & President, and Joshua Feldscher Vice President of Operations at Clear Skies Capital.
Jeff and his team help small businesses get access to fast and affordable working capital. Business loans range from $5K-$2MM. Some of these loans can be funded in 24 hours if approved!
We talk about Working Capital for Businesses! HOT TOPIC!
Working capital means the number of funds a business can access for its short-term needs. Working capital is calculated by adding up all your business’s liquid assets and subtracting the liabilities. So, working capital equals money your business can access/ is owed minus its debts.
Current assets are everything you own, from the funds you have in the bank to your stock and the office space you have purchased or rent for the company. They are whatever can be liquidated in the next twelve months. Current liabilities are all your expenses that must be paid within the following twelve-month period. Any debt that you have to fund in the next twelve months counts here, such as accounts or rent.
A guide for maintaining a healthy business is to have double the value in your current assets as you do in your current liabilities. However, when changing your business structure, for instance, if you’re undergoing expansion, this ratio can be challenging to reach. A company with a healthy working capital can normally afford to take on more debt, has a financial buffer in case unforeseen events occur, and often brings in more than it spends. Businesses with negative working capital are the ones that we at Clear Skies Capital are here to help.
Most small businesses from time to time need a helping hand to cover their day-to-day expenses when cash is short. A working capital loan is one that helps you to cover your business’s daily costs and help you pick up some slack during an off-season. Perhaps you just need a little step-up to help your business grow.
A working capital loan is one that is used for covering the everyday running costs of a business, as opposed to long-duration purchases such as machinery or property. They are often used to pay wages or buy stock. This type of loan is especially useful for businesses that are seasonal, such as those in the tourist industry. In their off-season, profits are low but fixed expenses still have to be paid.
These loans are typically more favorable to small or new businesses than normal bank loans, and you will not need to borrow a large sum to qualify. In fact, they usually come in smaller sums than standard business loans. They also have shorter terms and have more lenient qualification criteria.
The Type of products they provide.
Small Business Loans, Business Lines of credit, Equipment financing, SBA funding and A/R factoring
The types of industries/clients they serve.
Any business out there from Medical, to Manufacturing, service, trucking, cannabis you name it, if you have a EIN # and a business checking account they can take a look at some possible funding.
How is a working capital loan different than a traditional Small Business Loan?
At Clear Skies, they are faster, have less paper work and a much higher approval ratio.
Contact Jeff and his team for a consultation.
Clear Skies Capital
11858 Bernardo Plaza Ct Ste 110
San Diego, CA 92128
T: 1 (800) 230-9822
E: info@clearskiescapital.com
W: clearskiescapital.com
About Jeff: (in his words)
So after graduating from college (Cal State University San Marcos in 2002) I continued to work at Costco since I didn’t know what to do with my life. During that year my great friend right after college started working for a startup Company at the time called Five Point Capital.
For about a year into it he tried multiple times to get me to work there with him. But I was like a “startup, you’re crazy lol) Well… He started to do very well at a young age. Driving a Cadillac and obtaining two Rolex watches at the time at the age of 23/24. So I took the leap of faith into the industry and there I was a young 24 year old working in a cubicle making 300-500 phone calls a day prospecting small business owners in need of equipment financing. Did that for 5 years and 9 months.
During the end of that time the crash happened in 2008 and I got let go and became depressed and unemployed at the time. Shook off the dust and met a very special woman at the time which is now my wife that helped me get my faith, confidence and drive back. Got back into the industry for another independent sales organization here in San Diego and became the VP of Sales and managed a team of around 15 to 20 sales people on a floor and learned a lot of the back end of the industry with relationships and partnerships on the funding side who we get our money from for the most part.
I have entrepreneurship in my blood from my grandparents. I began to have the drive and itch to become my own boss and create my own culture and control my destiny 100%. With that being said I started Clear Skies Capital in July of 2014. Started in a small 175 sq ft executive suite in Sorrento Valley.
Stayed there for a year then moved to a 1,100 sq foot office down the road also in Sorrento Valley and grew to about 4 employees with me making 5. I never wanted to be big so stayed small and lean and happy but this journey came with many sleepless nights. Stayed in Sorrento for about 7 years.
Just recently last year of 2021 (Aug) moved my headquarters to Rancho Bernardo where I also live happy with my wife, two daughters (8 and 5) and two dogs a Doberman pincher and a German Shepard rescue. Now I have 7 employees with me making 8. Double the space. Very nice office we did a whole rebuild/remodel. We are on our 8th year as a business and me going on my 19th year in the industry.
About Josh:(in his words)
I grew up wanting to be everything but a financial professional. Racecar driver, Astronaut, Doctor but never anything with business. In college I took my first business finance and was hooked. I took an internship at Merrill lynch which got my feet wet in the financial world.
While working there I gravitated towards the business finance aspect of investing. After about 9 months of working as an intern and learning the ropes, I accepted a full time position under an investment banker. I stayed in this position for another year and slowly realized that the corporate life and a big company weren’t for me.
I found Clear Skies after leaving Merrill Lynch and immediately fell in love with the culture and the ability Clear Skies has to care about the small business owners and assist them even when I couldn’t have with a big box bank. However, in 2019 when the COVID pandemic happened I was let go from Clear Skies, just like many others were laid off at that time. Once the market stabilized, Jeff brought me back and I started to take over more of the day to day operations. Its been an amazing experience to learn about all different types of industries and feel like I am helping business owners when they need the capital to grow their dreams and businesses.
Cindy’s jacket by Svaha Apparel:
Cindy’s Jumpsuit by Hunt & Gather
