Case Study: Jay Korat
Jay is the owner of a Best Western hotel. He had an accountant who prepared financials after the year end, but there were always errors, and Jay had no understanding of how the financials could drive business decisions. Because of this, he was getting denied for loans, even though his business was making more than $1.7M.
We helped Jay proactively gain an understanding of his financials by preparing accurate monthly financial statements, guiding him in making business decisions, and designing and executing a long-term plan for success. Not only did this strengthen Jay’s financial statements, but it also allowed him to pay off the debt he had to borrow on his credit card and to qualify for larger loans with ease.
- Owns a Best Western Hotel
- Had an accountant who prepared financials
- Lots of errors on financials
- Had no understanding of financials to drive the business decisions
- Due to improper financials, was getting denied for loans
- Low profitability, high expenses and lack of deeper analysis
- We helped him proactively gain an understanding of his financials
- Able to pay off the debt he had to borrow on credit card and was able to qualify for the bigger loans
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