Business Lenders In Canada : The Hunt Is On For Your Working Capital Financing & Loan Solutions

Tweet



Engineering Your Company For Proper Business Financing Via Traditional & Alternative Lenders - The Hunt Is On!

OVERVIEW – Information on working capital financing solutions in Canada . Approaching alternative or traditional business lenders for a loan requires this ‘ need to know ‘ info

Working capital financing and the right business loan / loans for their company has many Canadian business owners looking to either leave or search for new business lenders that meet their financial needs. The hunt is on. Let's dig in

A Sept 20 /2016 report in Canada's Globe & Mail indicated massive dissatisfaction with financial institutions - referencing a 40% amt as the number of borrowing businesses that are ' likely ' to leave their current business lender. Of great interest is that the main perspective of business owners/financial mgrs is that their bank or credit union does not understand their business - as well as indicating a lack of confidence in the expertise of their lender.

The other harsh reality is that firms looking for SME COMMERCIAL FINANCE and loans don't have the option that major corporations do - that's for both short term operating needs and long term growth financing. Those ' big boys' of course can tap into public and private equity as an example.


What then are realistic options for the small and medium sized business in Canada for generating working capital and cash flow? It's the lack of proper business financing in place that holds your firm back from accepting larger orders or new contracts. That also of course entails having to wait 30/60 or sometimes even 90 days for A/R to be collected.

The right working capital financing in place assists your firm to meet its daily requirements and allows you to grow the business. It also allows your firm to extend credit on favorable terms to your customers.

Solution? There are a number of solutions to consider. If all firms were the same size and had the same problems we might have some easier decisions. The fact is though that when we meet with clients to outline working capital solutions each company is in a different industry, they have different business model, and their funding needs vary by size and nature.


Let's recap some of the solutions available:


A/R financing / factoring/Confidential Receivable Finance

Inventory loans

Bridge Loans

Sale Leasebacks

Non bank asset based lines of credit ( these facilities combine your a/r, inventory and equipment assets into on borrowing facility that is margined much higher than bank facilities ) These facilities are often the best solution to overall operating financing needs - This type of borrowing does not put debt on your balance sheet - it monetizes /cash flows your assets!

Tax Credit Loans ( SR&ED,etc)

Royalty Financing

Equipment Financing / Leasing

P O / Contract financing


While some firms in the SME sector will always consider angel investors, going public options etc these solutions are in practicality very limited



Canadian chartered banks offer a number of programs, but you should ensure you feel you can meet bank requirements. Some of those requirements are that you have been established and the owners of the business have a good reputation and reasonably solid credit history.


You should be able to produce financial statements and demonstrate that your receivables and inventory are turning. It's great to produce a forecast or a business plan, which also assists you as a good planning tool.



Smaller firms should try and avoid credit cards, merchant advances, or friend and family loans - they all work but often are not the best alternative.


The government of Canada offers a Small Business Loan program that is one of the best programs in Canada for Canadian business. The one technical point on this program is that it covers only equipment and leaseholds and real estate, so you should ensure these programs meets your exact needs.


One other government entity on the federal side offers working capital term loans; these are cash term loans and are generally unsecured, with only the promise to pay of your company and yourself as owner. Rates are excellent for what you are getting.


If you're ' on the hunt ' for business lenders that make sense for your operating and capital needs seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your loan needs.



Stan Prokop - founder of 7 Park Avenue Financial –

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - Completed in excess of 100 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing. Info & Contact Details :

http://www.7parkavenuefinancial.com


7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769

Office = 905 829 2653


Email = sprokop@7parkavenuefinancial.com

' Canadian Business Financing with the intelligent use of experience '


ABOUT THE AUTHOR

Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.

Stan has over 45 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.


Stan Prokop

Business Financing Loans In Canada : Staying Competitive With Asset Finance & Cash Flow Solutions

Tweet







Business Financing : Romancing The Loan In Canada

OVERVIEW – Information on business financing loans in Canada. The cash flow asset finance solution you’re looking for is just around the corner .. if …

Business financing loans in Canada depend on your ability to successfully negotiate the loans or cash flow solutions you need to run and grow your business. How would you rate you ability to ' romance the loan’? We don't think we need to point out that the right finance strategy for your firm will often help make your firm more competitive. Let's dig in.

Acquiring assets is a key part of financing your firm. Those assets come in several typical categories - equipment, technology, software, trucks, etc. 80% of U.S. and Canadian businesses at some time or another focus on equipment leasing as the solution. In some cases even existing assets you own might be additional collateral to get approval for new assets.

If your company is in a capital intensive business your cash flow resources are often strained trying to get up to speed on acquiring equipment. In many cases it's those assets that will help power higher sales growth in your company.

While Canadian banks may well consider term loans for asset finance requirements that typically comes with covenants and ratios that may impact future borrowing. Working with the right lease finance company will almost always allow you to match your cash outflows with the actual timing benefits you'll receive from the asset.

Another method of financing equipment is the Canadian Govt Small business loan. Because it's backed by the government the terms and flexibility are viewed by thousands of users of the program as the ultimate in flexibility.

When we meet with clients the typical question we hear is a pretty simple one: Who exactly offers the Govt Small Business Loan? Answer - the govt has empowered the banks to run and administer and finance the program under the auspices of their guarantee. HINT - Find a banker or Canadian business financing advisor who understands the program.

We caution firms not to use their business lines of credit when financing new assets. Credit lines should be used to run your business on a daily basis, not in the financing of long term assets.

If you're focused on the right ways to ' romance the loan ' seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with your asset finance & cash flow needs.


Stan Prokop - founder of 7 Park Avenue Financial –

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - Completed in excess of 100 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing. Info & Contact Details :
http://www.7parkavenuefinancial.com



CONTACT:
7 Park Avenue Financial

South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769

Office = 905 829 2653


Email = sprokop@7parkavenuefinancial.com

' Canadian Business Financing with the intelligent use of experience '

ABOUT THE AUTHOR
Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.

Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.


Stan Prokop

Business Financing In Canada : Expansion Finance & Loan Alternatives

Tweet




Looking For That Year Round All Seasons Business Financing ? Here’s Where!

OVERVIEW - Information on expansion finance solutions in Canada. Business financing and funding needs revolve around your ability to identify the right type of loan and bank or commercial non bank lender for your growth needs

Business financing in Canada often involves the need for expansion finance solutions. What is the type of loan and funding that makes growing your company work. In a perfect world

(apparently it's not) the business owner/financial mgr is seeking a year round, can we call it ' all seasons ' funding. Let's dig in.

The challenge around the size and type of funding your business need revolves around both your current needs as well as the foresight in assessing future needs. If you talk to many owners/mgrs in the SME COMMERCIAL FINANCE world it in fact often seems like a full time job!

Can the bank or other commercial lenders provide you with the financing resources you need? We of course maintain there are the right solution/solutions out there; the trick is identifying your different loan options. Identifying the option of course then creates another challenge - which business lender can best meet your needs. That's the part about understanding the proper qualifications for different types of business loan and cash flow strategies.

Given that the majority of businesses selling to other businesses don't operate on a cash basis (retailers excluded of course) the typical needs of an expanding business include salaries, carrying inventories and accounts receivable, as well as acquiring new assets.

Unfortunately in business there's rarely a ' straight line ' so cash needs fluctuate in the short and intermediate term.

Canadian banks, commercial finance companies, and even the Govt (via the Guaranteed Small Business Loan - max to 1 Million) play key roles in providing those solutions.

Funding solutions for business expansion include:

A/R financing

Inventory Loans

SR&ED Bridge loans

Commercial business credit lines/ term loans

SBL loans (The Govt guarantees and underwrites the majority of your loan)

Equipment financing

Sale Leasebacks

Asset based bridge loans and asset based revolving credit lines

Royalty Finance

P O Financing

Unsecured cash flow loans

Not to confuse things each of the above types of financing will have you considering different key issues for the type of loan or asset monetization you need.

The most critical issues include: loan term/length, amount of funds required, collateral, personal guarantees,

For a growing company it will often be the case that a combination of finance solutions is required. That's because growing sales will necessitate financing around credit line needs, fixed asset financing, term finance.

If you're looking for that ' all seasons' finance solution seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your capital needs.


Stan Prokop - founder of 7 Park Avenue Financial –

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - Completed in excess of 100 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing. Info & Contact Details :
http://www.7parkavenuefinancial.com


7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769

Office = 905 829 2653

Email = sprokop@7parkavenuefinancial.com

' Canadian Business Financing with the intelligent use of experience '

ABOUT THE AUTHOR
Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.

Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.


Stan Prokop

Business Financing In Canada : Avoiding Bad Decisions In Your Asset Finance & Loan Search

Tweet


On A Scale Of 1-10 How’s Your Business Financing Doing ?

OVERVIEW – Information on business financing in Canada . Asset finance and loan solutions can more effectively be accessed with a solid understanding of your balance sheet

Business financing in Canada , even when you're wildly profitable is always still a challenge for owners/financial mgrs. On that scale of 1-10 how comfortable are you that your firm has access and knowledge to the best financing solutions? Let's dig in.

‘Cash flow is tight ' is the common term we hear when we talk to customers struggling with their sales goals. Ironically, as we've hinted it even gets tighter when sales and profits are strong. ( Spoiler alert - that's because you're building current assets such as receivables and inventories as well as acquiring new assets and technology )

Sometimes it's almost as if there's a ' leak' in your funds as the owner/financial mgr struggles to put financing in place. The clues are often in your financial statements, but sometimes difficult to pin down for some.

Those cash flow and working capital shortages can put a huge strain on the business - often straining relationships with suppliers and lenders such as your bank.

It sometimes makes a lot of sense to get a third party outside opinion on your current financial position. That's when unlocking valuable business finance techniques can really pay off to cover off short term and intermediate funding needs.

It's no secret that a major focus of business is to increase sales. As important though is the need to ensure you understand what in fact is happening to your overall cash flow. What we're really talking about is your ' operating cash flow ' and what ' drivers ' are in fact increasing or decreasing that cash.

In many cases it's always best to use longer term financing for acquiring new assets and technology. By the way, even business software can be financed! Your overall profit situation as well as your profit margins will often help drive what financing your firm is eligible for.

Also the types of assets your firm carries on the balance sheet and understanding their size and quality will often also drive finance solutions you need are eligible for.

Assets that can be monetized include:

Receivables

Inventory

Equipment

Tax Credits

Purchase Orders

Solutions such as A/R financing, inventory loans, equipment leasing, sale leasebacks, and SR&ED tax credits can all be ' cash flowed' into immediate liquidity. By the way these solutions tend to be ' non bank ' in nature and predominantly available through commercial finance companies or alternative lenders.

Newer businesses are often eligible for the Government of Canada Small Business Loan (new loan maximum is $ 1,000, 000.00).

If you want to avoid making ' bad decisions' in the financing of your business seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your capital and cash flow needs.


Stan Prokop - founder of 7 Park Avenue Financial –
Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - Completed in excess of 100 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing. Info & Contact Details :
http://www.7parkavenuefinancial.com

7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769

Office = 905 829 2653

Email = sprokop@7parkavenuefinancial.com


' Canadian Business Financing with the intelligent use of experience '

ABOUT THE AUTHOR
Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.

Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.


Stan Prokop

Loan & Finance Options : Coming Out On Top Of Business Financing Needs

Tweet


How’s That Trial & Error Canadian Business Financing Search Going ? Get Ready To Sync & Doc With The Finance Solutions Your Company Needs

Information on business financing in Canada. Various loan and finance options are available for Canadian companies . The trick? Knowing which ones your company needs and qualifies for

Business financing loan and finance options in Canada unfortunately leaves many business owners/entrepreneurs and financial mgrs doomed to a ' trial and error ' approach to their funding needs.

How then do you come out on top when it comes to your capital / cash flow needs? Let's dig in.

Business finance as it relates to capital needs is all about understanding current and future performance needs. Key factors that you need to consider assessing for finance needs include:

Sales
Working Capital needs
Asset requirements
Cost of financing

We're told that timing is everything, and to that we'll add knowing (and understanding) your alternatives. Working capital, as an example is a common need for business - it funds your inventory and receivables and staffing as an example.

Larger firms are always considering their ' capital structure ' which is often a more informal project when it comes to businesses in the SME (small to medium enterprise) space. More simply stated the owners and financial mgrs in '
SME COMMERCIAL FINANCE ‘assessments have to consider how much ' debt ' they can obligate their company to. As they quickly discover the ' leverage ' that comes with debt is a two edged sword!

However those ' debt ' and ' cash flow' options are always less expensive than giving up a per cent age of ownership.

What then are the types of financing available to firms for asset and cash flow needs? It's probably a longer list than you might think! They include:

A/R Financing
Inventory Finance
Sale leasebacks
Equipment finance
PO Financing
Bank lines of credit
Non bank lines of credit
Royalty finance
Govt guaranteed Small Business Loans
Unsecured Cash flow loans

Knowing what stage your company is in will often. lead you to the best business financing solution. Typical categories for assessing your need tend to be ' start up ' ' growing' and ' mature mid market '. Don't forget also that for even larger firms there is no ' perfect’ financing and capital structure.

Knowing which alternatives pertain to your needs will help you shape your current and future financial position. Your ability to assess cash needs allows you to get funding in place in advance, as opposed to reacting when it comes to the proper financing sources.

If you're focused on eliminating that ' trial and error' approach to business funding seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with loan and finance options that make sense today .. and in the future.




7 Park Avenue Financial

South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769

Office = 905 829 2653

Email = sprokop@7parkavenuefinancial.com

' Canadian Business Financing with the intelligent use of experience '

ABOUT THE AUTHOR
Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.

Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.


Stan Prokop

Acquisitions Financing In Canada : Your Business Finance Loan Strategy Awaits

New , Old & Powerful Ways To Buy And Finance A Business !

OVERVIEW – Information on acquisitions financing techniques in Canada. The type of business finance loan required to successfully buy a company varies with certain situations

Business financing sometimes presents an acquisition opportunity. How does acquisitions financing work when the opportunity arises, and what loan scenarios might match your needs. We're talking about the ' buy side '. Let's dig in.

Naturally the reasons to either purchase or merge into another company vary. Some of the most typical scenarios include growing sales faster (i.e. non organically), entering new geographies for sales revenue opportunities, different client or market segments, etc.

Some key basics quickly emerge for business owners/ financial mgrs when contemplating buying and financing another firm. Those basics?
They include, but are not limited to:

Determining proper value

Understanding financial strengths and weaknesses

Knowing the optimal amount of debt/equity that will make the transaction work

Knowing where to seek financing and what type of finance alternatives exist when you're buying a business

The seller in some cases can in fact be an important ally in closing a transaction. If they have the proper personal or financial incentives their ability to help structure a ' seller financing ' component to the transaction could be key to success. In some cases that might mean adjusting the purchase price higher, but that seller involvement can well mean a better chance of a more successful transition.

While the proverbial ' friends and family ' financing is certainly one alternative that has been used in the past most top experts will also warn against that scenario ; as well pledging personal assets is also high on the not desirable list!

Since receivables and growth in A/R are often a significant component of any growth strategy accounts receivable financing solutions such as debt factoring and asset based credit lines can play a key role in acquisitions financing.

'Small ' is of course a relative term, but don't forget to also consider the Govt Guaranteed SBL Small Business Loan when it comes to acquiring a business. That loan limit now is 1 Million dollars, but critical to note that it covers only two asset categories, equipment and leasehold improvements.

It is very safe to say that your acquisition plans should also include a well crafted business plan or cash flow analysis of the new or combined operation.

Careful study of your working capital and loans needs will also help identify the proper method to finance a purchase. Those other solutions to help finance your transaction are a combo of new, alternative, traditional and non traditional methods of Canadian business financing. They include:

Bank term loans/ operating lines of credit

Asset based bridge loans

Inventory Loans

PO Finance

Confidential receivables financing

Sale leasebacks

Commercial mortgage financing/refinance

Royalty Financing

Refundable tax credit finance ( sr&ed loans )

Unsecured cash flow/mezzanine finance loans

The ultimate choice in your acquisition finance strategy should include some level of analysis around your overall expected rate of return. Ultimately success in the acquisition will be demonstrated by your ability to manage, grown and improve value of the new or combined business.

If you're looking for the best acquisitions financing solutions seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success
who can assist you with your business finance loan needs.



Stan Prokop - founder of 7 Park Avenue Financial –

http://www.7parkavenuefinancial.com


Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - Completed in excess of 100 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing. Info & Contact Details :
http://www.7parkavenuefinancial.com


7 Park Avenue Financial

South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769


Office = 905 829 2653

Email = sprokop@7parkavenuefinancial.com

' Canadian Business Financing with the intelligent use of experience '

ABOUT THE AUTHOR
Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.

Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.


Stan Prokop