On Tuesday, October 20th, Nicholas Jalowski, Managing Director of Cambridge Financial Services was the Presenter for Panel #2 of the second annual Shark Tank Workshop put on by the New York Institute of Credit and the International Factoring Association’s Northeast Chapter. For the presentation, Nick shared a fact pattern for a fictitious company that was seeking financing from one or more of the funding sharks and had to negotiate the best deal for his client. His bidders included Neville Grusd, President of Merchant Financial Corporation, Mike Banasiak, Managing Director of Liquid Capital Express, LLC, Robinn Mikalic, Northeast Business Development Officer of JD Factors, Inc. and Mike Hilton, President of Brookridge Funding. Richard Simon, a Partner in the law firm of Mandelbaum Salsburg was the moderator of the panel.

According to Nick, “the case outline was very similar to a real situation, and it was fun going back and forth in negotiating with the financiers over availability, structure, personal guarantees and the like. I think the audience had a unique opportunity to see what really happens when a struggling business is seeking alternative funding. They asked tough and important questions to determine what would be the best deal that they could put on the table.”

The attendees witnessed how a strategic consultant like Nick operates for the borrower, and they learned about the structure differences, and the advantages of each funding source. All in all, it was a very entertaining and educational presentation.

The New York Institute of Credit is a not for profit educational organization bridging the gap between business theory and practice. The International Factoring Association’s goal is to assist the factoring community by providing information, training, purchasing power and a resource for the Factoring community.