By The Price of Business Show, Media Partner of TDB
On a recent Price of Business Show, Media Partner of this news site, Host Kevin Price interviewed David Sussman of Valcor Worldide about the rise of merchant cash advances and how they are killing small businesses. He also offers a viable alternative to such a dangerous practice.
According to the company’s website:
“In the 1980s, Valcor’s founder and CEO David Sussman was heading toward a much different career. Born in London, England, David was a PhD candidate in clinical psychology and worked as a therapist at several hospitals and therapeutic communities. At the time, the medical industry was going through substantial changes due to budgetary pressures, consolidation and LBOs. One day, the CFO of one of those hospitals confided in David: the hospital was on the brink of bankruptcy. Utilizing methods he had learned from his late entrepreneurial father, a British chartered accountant and Fellow of the Institute of Taxation, David steered the CFO through a turnaround that saved the business from bankruptcy. The entrepreneurial blood ran in the family. David realized he had a marketable service, and with a growing need in the medical community, referrals were plentiful. He made a life-changing decision: he shelved the PhD program, returned to business school to earn his master’s, and founded Valcor.
“While large consulting firms focused on sizable corporations, Valcor specialized in helping troubled small and medium businesses. The company soon hired additional consultants, and the team saved numerous companies in North America. A franchise consultant soon approached Valcor to duplicate this niche financial service. After performing due diligence, the Valcor team decided to take a different approach: establish a network of private consultants throughout North America and the United Kingdom… (READ MORE)”