October 25, 2020
Published by 
John McQueen on October 25, 2020
John McQueen on October 25, 2020The olive is an ancient symbol meaning ‘let us make peace’. It is also that tasty treat found in your favorite martini. Relationships can be much like a martini – simple and clean or downright dirty. But the best martinis come with an extra olive – preferably stuffed with goodness. The same is true of our relationships with our local hospices. For some in funeral service, the word hospice invokes negative thoughts fostered by an adversarial role between the two businesses. Yes, hospice, just like your funeral home, is in business. Like any business, hospice’s primary role is to promote their business, not yours. Sometimes, hospice, like many businesses in their quest for growth, overreach into areas that place them either in direct competition or at a minimum in an adversarial position. Examples may include trying to open a funeral […]
October 25, 2020
Published by 
Dan Isard on October 25, 2020
Dan Isard on October 25, 2020In our third Industry Spotlight, we want to highlight on hospice. Two professions which are most symbiotic are hospice nursing and funeral homes. Hospice care focuses on the palliation of a terminally ill patient’s pain and symptoms and attending to their emotional and spiritual needs at the end of life. Hospice care prioritizes comfort and quality of life by reducing pain and suffering. Funeral directing focuses upon the emotional trauma of the survivors, who are now living without the deceased friend or family member. The funeral is the first step to deal with the rational biological needs as well as the spiritual support the survivors need. According to the National Hospice and Palliative Care Organization (NHPCO) in 2017, 49 million Medicare beneficiaries, a 4.5 percent increase from the prior year, were enrolled in hospice care for one day or more […]
October 25, 2020
Published by 
Doug Gober on October 25, 2020
Doug Gober on October 25, 2020One service area that we are always asked for insight and guidance on is our Business Financing Services. For this month’s column, we combined all of the most popular financing questions into one comprehensive article. Continue reading below as Doug Gober, Partner provides some insights on SBA financing, debt refinancing, borrowing limits, and more. Question: Why would I want to get SBA financing instead of going to my local bank? Doug Gober: Since its inception, SBA lending has become very popular because it opens the door to a larger base of entrepreneurs transitioning into businesses. It does so by reducing the amount of initial investment required and extending the terms on of the loan. Unless you have significant investment dollars available, it is difficult for quality, skilled people to become a business owner using conventional lending. Conventional commercial lending effectively […]
October 25, 2020
Published by Dan Isard on October 25, 2020
Dan Isard on October 25, 2020Neither a borrower nor a lender be. – Hamlet, Act 1, Scene 3 I quoted Lord Polonius from Shakespeare’s famous play because I needed someone expressing the wrong opinion on the merits of borrowing. Sure, I could have quoted any of 200 different radio talk show hosts, but then I might appear narrow-minded or opinionated. I also could have quoted several funeral home owners, but then they might feel offended. Anyway, in this 10th installment of our 12-part 20/20 vision of rebuilding your funeral business, I will explain borrowing, give examples of when and when not to borrow and note from whom you should and should not borrow. And, of course, I will do all of this without using mathematics or being opinionated… BORROWING DURING A PANDEMIC There is only one certainty during a pandemic to a business owner: You […]
October 22, 2020
Published by 
Nicole Vullo on October 22, 2020
Nicole Vullo on October 22, 2020Recently, a Foresight client reached out to our team with wonderful news to share. Their lender had completed the review of their PPP Forgiveness application and approved their amount in FULL! We knew that the Small Business Administration officially opened their Paycheck Protection Program loan forgiveness portal to lenders back in August. And of the millions of loans approved under the program, the SBA had only received thousands of forgiveness decisions from lenders. Ultimately, the PPP loan forgiveness process is a lengthy one. It requires the small business to complete the application and submit it to the lender. The lender then has 60 days to give its decision. That decision is then relayed to the SBA, who then has 90 days to process and finalize the application and reimburse the bank for the loan. There is also the possibility of […]