How does an already cash-strapped company pay for FMAs professional services?
Usually from cash freed up through negotiated restructuring or deferral of payments to vendors or lenders. Or, sometimes the bank can help extend credit to cover some or all of the costs. Either way, owner-management and the bank must believe that the most important immediate business priority needs to be professional help with the creation and implementation of a workable recovery plan encompassing fair sacrifices by all. By acting on this as early as possible, the erosion of liquidity can be quickly minimized, more strategy options remain available, and, the company lessens the prospect of incurring the suffocating legal expenses and administrative burdens associated with sliding into extreme financial distress or bankruptcy.
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