| A Not-For-Profit Organization Looks To Tiger For a Fresh Start. |
A long established not-for-profit organization was embroiled in a long overdue management shake-up. The Board of Directors decided to hire a new President after a steady decline in membership and revenues. The new President discovered an accounting mess, a cash shortfall, as well as outdated computer equipment. Drastic measures had to be taken. Payroll was slashed and a major drive for contributions amongst its members was undertaken. A consultant was hired to determine the computer equipment and software needed to bring the organization into the 21st century.
Tiger Leasing was engaged to provide the financing for the new computer equipment. When we looked at the financial statements, we knew we had a challenge on our hands. The organization showed losses and a lack of cash; the picture was not pretty. But we dug deeper, interviewed the new President, and determined that the organization, having been in business for over 40 years representing members of an important industry, was on the mend. The new President had a specific plan, and repayment of our lease was a major priority for them to re-establish their credit.
Tiger's leasing service was set up for their new computer system. The organization now has fresh computer equipment as well as a fresh start thanks to Tiger's support.