DENVER-BASED COLLABORATION REDIRECTS CONSULTING RESOURCES TO SUPPORT CRITICAL STAKEHOLDERS IN THE 2020 FINANCIAL CRISIS.
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As the economic impact resulting from the coronavirus shutdown intensifies, Escalate Solutions CEO, Kimberly Arnold, and LCS CEO, Mike St. John, announced a collaboration to offer strategic expertise directly to financial institutions, lenders and investors being flooded by current demand.
Banks and other third-party lenders responsible for distributing government assistance have been bombarded with a massive volume of applications as well as the subsequent review that accompanies every process. The SBA’s PPP program, for example, required every submission to include an updated business plan as to how the entity plans to pay back the loans. With another round of funding expected, these time consuming demands are certain to continue.
Additionally, even the largest US banks are struggling to keep pace with the volume of applicants and the significant data each has to submit in conjunction with the distributions. Given that many organizations were already operating on lines of credit and loans even prior to the crisis, thousands of bank directed “work-outs” to help stabilize business and to try to recover at least a percentage of already-issued loans are on the horizon. Similarly, private equity is also being flooded with “mark-to-market” demands to report back on the viability and adjusted value of the companies within their portfolios.
Kimberly Arnold explained, “We recognize it is in the best interest of every stakeholder – consumers, employers, lenders and investors – that valuable contributors like Mike and I proactively fill the gaps that we see in the current solution pipeline. The financial risks are increasingly evident, so contributions that address future-looking strategy and operations are a vital component to minimize the expected damage. From the development of revised business plans to due diligence reviews, we recognize that entities like Escalate Solutions and LCS can support the institutions that are scrambling to keep SMB’s like ours in business. We are doing our part to help.”
Mike St. John added, “The pressure that traditional banks and lending institutions are under right now is colossal. Not only are they a primary vehicle for delivering government assistance, but they are also scrambling to address default potential from both individual and business customers. We know from our past experience that bank directed work-outs are likely and how our strategy and operations expertise can assist in those efforts. Similarly, I personally understand the pressure that entities – private equity groups, commercial banks, M&A firms, venture capitalists, lenders and even accounting, legal, wealth management and consulting firms – are under in this environment. The volume of crisis management that needs to be conducted right now is something we haven’t seen since 2008-2010.”
– Business Plan Development & Review
– Operations Crisis Management
– Turnaround & Restructure Strategy
– Pivot Strategy
– Growth Strategy
– Interim C-Suite Assignments
– Digital Transformation, Agile Transformation
– Strategic Planning
– Leadership & Management Team Building
For additional information:
Kimberly Arnold | CEO
Mike St. John | CEO