Inside the Vault - Financial Solutions for Small Business Success
We are pleased to announce our new "Inside the Vault Process," financial solutions for small business success. Our services can be packaged and performed on a monthly basis, or a la carte to specfically fit your company's needs. We will also offer seminars for your company's employees to help educate them on the financial side of your business. Our simple, but informative classes will put you and your employees on one cohesive thought process to help your company reach its financial goals.
Read more about our services here:
The Inside the Vault Process
Bill McDermott, Founder of MFS
Years before I even began thinking about starting a company, a common complaint by business owners was that it’s hard to have a relationship with a banker. Second, it was hard to have a relationship with a banker that truly understands your business.
Also, once a business owner has a relationship with a banker, the banker is moved and they have to start all over again with a brand new banker. The Recession and tight credit environment brought new concerns of how business owners could find the financing needed to handle their cash flow. Many businesses today are just struggling to survive.
The banking community, for many business owners, appears to be a secretive labyrinth, filled with surprises and an unfair house advantage. It doesn’t have to be that way. Banking, if pursued with appropriate knowledge and know-how, can benefit a small business more than any other service.
That’s what McDermott Financial Solutions is all about. We are about taking you inside the vault and arming you with the tools you need to allow the banks to help you and your company thrive.
Our "Inside the Vault Process" may not solve every problem, but among other techniques, it will prepare you to talk to your banker, develop brief presentations that could help your company for years and further the vision that you had when you founded or assumed leadership of your business.
I know about the tactics and tools because I’ve used them on both sides: I was a banker for more than 30 years and I developed this company in the worst possible economic environment. I’ve seen these methods work.
The "Inside the Vault Process" helps the business owner by providing the services needed to solve issues in the areas of banking and finance and get you to your financial destination.
For more information on our new process, contact us today for a free one hour consultation to see how our services can help your company reach its financial goals.
________________________________________________________________________
Blinder joins MFS as Marketing Manager
McDermott Financial Solutions is pleased to announce the hiring of our new Marketing Manager, Meredith Blinder. She graduated with a degree in Communications from Berry College in Rome, Ga., in 2011. Previously, Blinder worked in multiple capacities with the American Press newspaper in Louisiana as a photographer, videographer and web designer. After recently relocating to the Washington, D.C., area with her husband, Alan, she has assumed the duties of marketing manager for MFS. Blinder will be working on marketing and communications strategies, the company website and social media to increase our online presence. Follow her on Twitter at @meredithblinder. We are pleased to welcome her to our team.
________________________________________________________________________
McDermott Financial Solutions Founder to appear at Georgia Bar Association breakfast on January 19
ATLANTA -- Cash is king in today’s business environment. Improving cash flow is the #1 issue business owners deal with according to a recent survey. In an appearance on January 19, McDermott Financial Solutions CEO Bill McDermott will be offering insights to Georgia Bar Association breakfast attendees on how to improve cash flow by leveraging a bank's treasury management services.
In Surviving the Drought: The Business Owner’s Guide to Improving Cash Flow by Using a Bank’s Treasury Management Services and Technology, McDermott will offer perspectives on utilizing treasury management products. Topics such as remote deposit capture to improve cash flow, alternative methods for financing growth and utilizing sweep accounts to improve investment income will be presented.
"Business owners operate in a world of constant change but have to manage their cash flow requirements successfully every day. There's just not enough time to get it all done," McDermott said in a preview of his speech. "Utilizing technology and treasury management services offerred by a local bank is critical for maximizing the amount of cash available to run your business."
If you were not able to attend, you can download his talk "Surviving the Drought."
________________________________________________________________________
For Immediate Release
Atlanta, GA December 1, 2011
McDermott Financial Solutions Founder to Present at North Atlanta GSCPA chapter meeting in December
Business Banking Thought Leader offers CPAs Important Perspectives for Advising Clients on Business Banking Issues.
Founder, Bill McDermott will be offering attendees at the upcoming North Atlanta Georgia Society of CPAs December chapter meeting keen insight in to the challenges of navigating the banking industry in this current economy.
In “Bankspeak” McDermott will give perspectives on
- How to speak your banker’s language
- Having a hard time finding financing? Your problem or the banks?
- Covenant defaults and forbearance agreements-what to do
"With the changes in the banking landscape, clients are dealing with anything from their bank was just closed by the FDIC and their loan is now held by a bank they never heard of before. They may find themselves transferred to the Special Assets division of a bank and have no idea what that is and why they’re there. They may find themselves being asked to sign a forbearance agreement because their bank asked them to sign and they have no idea what it is or why they’re being asked to sign it." McDermott says.
About McDermott Financial Solutions
McDermott Financial Solutions (MFS) is your personal guide to business banking that gets you inside the vault. A premier business banking consulting firm, MFS provides best in class services for privately owned businesses throughout the Southeast. For more information, visit their web site at www.bankingsolved.com
_________________________________________________________________________
McDermott Financial Solutions Founder to Present at Atlanta Convene Group November 15, 2011
Business Banking Thought Leader offers Convene members Perspectives on Business Banking Issues
Founder, Bill McDermott will be offerring attendees keen insight in to the challenges of navigating the banking industry in this current economy. An understanding of the banking industry is critical today for business owners to find financing to improve their cash flow.
"With the changes in the banking landscape, clients are dealing with anything from their bank was just closed by the FDIC and their loan is now held by a bank they never heard of before. They may find themselves transferred to the Special Assets division of a bank and have no idea what that is and why they’re there. They may find themselves being asked to sign a forbearance agreement because their bank asked them to sign and they have no idea what it is or why they’re being asked to sign it." McDermott says.
If you would like a copy of the powerpoint presentation click here
About Convene
Convene is a CEO roundtable group of business owners whose priority is to lead their professional and personal lives based on Christian principles. For the Christian CEO/Business Owner, these priorities include: running a successful business; leading a healthy family; and having a significant Kingdom impact. Visit their website at Convene.
About McDermott Financial Solutions
McDermott Financial Solutions' comprehensive knowledge of the inner workngs and unknown regulatory requirements of bank, along with their expertise in all areas of business banking, position them to meet the needs of their clients in a way that no one else can. Visit them at banking solved.
_______________________________________________________________________
Bill McDermott, Founder of McDermott Financial Solutions appears on High Achiever Radio
ATLANTA – Bill McDermott, founder and CEO of McDermott Financial Solutions, appeared on High Achiever Radio on Oct. 12 to discuss his company and how it’s changing the face of banking.
BevAnn Bonds of High Achiever Radio said the program selects guests who have demonstrated excellence in their fields.
“For us, High Achievers are those individuals that have attained a level of success in life,” Bonds said. “They are the entrepreneurs who are among the best, if not the best, in their field.”
McDermott said he hoped his appearance would help listeners better understand the complex world of banking.
“I hope the listeners were able to obtain some valuable information to help them navigate the banking maze that exists,” he said. “It can be very confusing and frustrating.”
To hear McDermott’s take on the banking industry during his appearance, visit High Achiever Radio’s page about his interview.
___________________________________________________________
Bill McDermott, Founder of McDermott Financial Solutions speaks to the DeKalb Chapter of the Georgia Society of CPAs on September 27
ATLANTA--Many business owners are concerned about when banks will begin lending again. MFS, Founder Bill McDermott will address the GSCPA DeKalb chapter attendees on the state of the banking industry in 2011.
In State of the banking industry 2011, when is the dust going to settle? McDermott will offer perspectives on how TARP attempted to assist the banking industry during the liquidity and leverage crisis. Due to these issues, the banking industry has and will continue to experience consolidation. Topics will also include how to assess which banks are healthy and which ones aren't and how to use SBA lending programs to obtain vital financing for your business clients.
"Business owners look to their CPA to provide banking advice to help them navigate a difficult economy and banking industry. CPAs need to a "go to" resource to help them assist their clients." McDermott said in a preview of his speech. "An understanding of the banking industry is critical today for a CPA to help their clients find financing to improve their cash flow."
The presentation will be held at Petit Auberge in Atlanta on September 27. McDermott, a former banker, leads a business banking consulting firm which provides innovative banking solutions for closely held businesses throughout Georgia.
______________________________________________________________
McDermott Financial Solutions CEO to appear at Southeastern Accounting Show on Aug. 18
ATLANTA -- Cash is king in today’s business environment. Improving cash flow is the #1 issue business owners deal with according to a recent survey. In an appearance on Aug. 18, McDermott Financial Solutions CEO Bill McDermott will be offerring insights to Southeastern Accounting Show attendees on how to improve cash flow by leveraging a bank's treasury management services.
In Surviving the Drought: The Business Owner’s Guide to Improving Cash Flow by Using a Bank’s Treasury Management Services and Technology, McDermott will offer perspectives on utilizing treasury management products. Topics such as remote deposit capture to improve cash flow, alternative methods for financing growth and utilizing sweep accounts to improve investment income will be presented.
"Business owners operate in a world of constant change but have to manage their cash flow requirements successfully every day. There's not just enough time to get it all done," McDermott said in a preview of his speech. "Utilizing technology and treasury management services offerred by a local bank is critical for maximizing the amount of cash available to run your business."
Over 1,500 CPAs will attend the 2011 Southeastern Accounting Show, which starts on Aug. 17 at the Cobb Galleria Centre in Atlanta. McDermott, a former banker, leads a firm that develops innovative banking solutions for private businesses.
________________________________________________________________
Leading IT Staffing Firm Recognizes McDermott Financial Solutions as Partner of the Year for 2011
ATLANTA -- Collaborative partnership with clients has long been a hallmark of McDermott Financial Soutions' strategy to help small business owners solve their banking dilemmas. Now, another respected Atlanta area company is recognizing the firm for its commitment to that principle.
Agile, a leading technology staffing firm for Fortune 100 clients, presented McDermott Financial Solutions with its 2011 Partner Advocate of the Year Award at a recent event. Agile said the award is presented in recognition of "mutually beneficial partnerships with people who are passionate about one another's success."
In 2010, Bill McDermott, CEO of McDermott Financial Solutions and a 30 year veteran of the banking industry, worked with Agile to further expand its operations. "My clients tell me that the hidden and unknown elements of banking make it difficult to partner with the banks they're trying to work with every day." he said. "I've tried to collaborate with companies like Agile to give them the information they need to obtain the results they seek."
Tricia Dempsey, Agile's CEO says McDermott's personal, partnership based approach promotes results. "Bill's true value to a business owner is the ability to make the numbers simple," she said.
McDermott Financial Solutions, a privately held company based in the Atlanta suburbs, offers comprehensive banking support and guidance to small businesses. The firm's range of services includes in-depth analysis of a company's financial health, the development of loan packages and representation before bank officers.
________________________________________________________
McDermott Financial Solutions Celebrates Two Years in Business April 3, 2011
ATLANTA -- Two years after its founding in the immediate aftermath of the Great Recession, McDermott Financial Solutions is celebrating its second anniversary by again exceeding the expectations of Founder and President Bill McDermott.
McDermott, a 30-year veteran of the banking industry, said his firm's successes were buoyed by national concerns about the vitality of banks. "The marketplace has been very receptive to a personal guide for business banking that has an independent view of the banking landscape," McDermott said.
McDermott Financial Solutions, a privately held company based in the Atlanta suburbs, offers comprehensive banking support and guidance to small businesses. The firm's range of services includes in-depth analysis of a company's financial health, the development of loan packages and representation before bank officers.
________________________________________________________________
ADVISORY: McDermott Financial Solutions CEO to Appear on The McHale Report Friday April 1, 2011
ATLANTA – When it comes to banking and finance, the FDIC is the federal agency that has the most potential impact on ordinary banking customers. But for an agency that is so critical, it’s one that is shrouded in mystery.
During a Friday interview on Voice America’s McHale Report, Bill McDermott, founder and CEO of McDermott Financial Solutions, will break down the FDIC, its functions and how it has affected consumers and business owners in recent years. McDermott, a former banker, leads a firm that develops innovative banking solutions for individuals and small businesses.
Friday’s interview, slated for 1 p.m. Eastern, will air on Voice America’s Variety Channel. To tune in, please visit http://www.voiceamerica.com/show/1848/the-mchale-report.
______________________________________________________________________
For Immediate Release
Atlanta, GA November 18, 2010
McDermott Financial Solutions and Kramer Accounting Services Co Host Presentation to Business and Community Leaders in Blue Ridge, Georgia
Today, McDermott Financial Solutions teamed up with Kramer Accounting Services to present a seminar on dealing with banking problems and their tax consequences.
The seminar was held at the Comfort Inn, Blue Ridge and was well attended by business and community leaders from Blue Ridge and surrounding communities.
The idea to hold the seminar was conceived by Jackie Seabolt, partner at Kramer Accounting Services. She had met Bill McDermott, CEO of McDermott Financial Solutions in August when he presented at the Southeast Accounting Show hosted by the Georgia Society of CPA’s. “Jackie wanted to co host a seminar to help business owners in the Blue Ridge area with banking issues and their tax consequences. The intent was to be a community service to the business leaders in the area”, said McDermott. McDermott spoke on “Forbearance Agreements, How to Get What You Want “ Seabolt talked about Short Sales, Deed in Lieu and Foreclosures and Their Tax Consequences.
To learn more about Kramer Accounting Services, please visit http://www.krameraccounting.com/
To learn more about McDermott Financial Solutions, please visit http://www.mcdfs.com/
___________________________________________________________________________________
For Immediate Release
Atlanta, GA August 18, 2010
McDermott Financial Solutions CEO to Present at 2010 Georgia CPA Conference
Business Banking Thought Leader offers CPAs Important Perspectives for Advising Clients on Business Banking Issues
CEO Bill McDermott will be offerring attendees at the upcoming 2010 Southeastern Accounting Show (SEAS) keen insight in to the challenges of navigating the banking industry in this current economy.
In "Your Banking Relationship, a Case Study, McDermott will give perspectives on
- The current state of the banking industry
- The effect commercial real estate loans will have on banks and our economy
- Three case studies of banking relationships and how these clients successfully worked with their bank to get what they wanted
"With the changes in the banking landscape, clients are dealing with anything from their bank was just closed by the FDIC and their loan is now held by a bank they never heard of before. They may find themselves transferred to the Special Assets division of a bank and have no idea what that is and why they’re there. They may find themselves being asked to sign a forbearance agreement because their bank asked them to sign and they have no idea what it is or why they’re being asked to sign it." McDermott says.
Over 1,500 CPAs will attend the 2010 Southeastern Accounting Show, which starts Wednesday at the Cobb Galleria Centre in Atlanta.
About McDermott Financial Solutions
McDermott Financial Solutions is a business banking advisory firm for business owners. We leverage over 30 years of banking experience and contacts to provide a services comprised of loan packages, bank presentations and other consulting services to help companies ensure that growth will never be slowed by an inability to find financing. We're like a GPS for banking. Visit us at www.mcdfs.com
For Immediate Release
Atlanta, GA June 1, 2010
McDermott Financial Solutions Launches The Financial Health Checkup
"Business owners are having a hard time getting a bank to yes to their loan request, it may be time to understand why" says Bill McDermott, CEO and owner of McDermott Financial Solutions. The Financial Health Checkup is an important piece of the company's suite of business consulting services for business owners. It starts with a full analysis of the last three years of financial statements. The analysis presents trends in a company's balance sheet, income statement and cash flow that the business owner may or may not be aware of. McDermott Financial looks for changes in leverage, liquidity, profitability and activity and helps the business draw conclusions about their overall financial health. This is what a client said recently about their Financial Health Checkup:
"Bill's true value to a business owner is the ability to make the numbers simple and provide clear direction on what levers can be pulled to improve overall margins and profitability. I feel lucky to have found a real person, who has real knowledge, who builds real relationships and is a real joy to do business with!”
You might be thinking about selling your company to a strategic or financial buyer. The Financial Health Checkup can be an annual exercise to be sure you are on track to your business succession plan or exit strategy.
For further information, contact Bill McDermott at 678-597-8184
###