The decision: funding payroll before customer collections
As CFO of HeyTutor, I built the finance function as the business grew to approximately $40 million in run-rate revenue. A central challenge was timing: tutor payroll came due before school districts paid their invoices.
The financing work addressed that cash-timing gap while limiting equity dilution.
My intervention: cash visibility, financing, and a finance team
I established a 13-week cash forecast to anticipate financing needs and seasonal liquidity troughs, then negotiated an $8 million invoice financing facility to bridge tutor payroll and school-district collections.
I hired a controller and led budgeting, reporting, cost management, and margin analysis. The work combined the finance function’s recurring responsibilities with access to capital during rapid growth.
The financing outcome and its limits
The $8 million invoice financing facility reduced projected interest expense by approximately $2 million and limited equity dilution. The interest benefit is a projection.
HeyTutor reached approximately $40 million in run-rate revenue during my CFO tenure. That figure describes the company’s scale during the engagement.
| Finance priority | Delivered work or result |
|---|---|
| Anticipate cash needs | 13-week cash forecast covering financing needs and seasonal liquidity troughs. |
| Bridge payroll and collections | An $8 million invoice financing facility negotiated. |
| Financing cost and ownership | Approximately $2 million lower projected interest expense and limited equity dilution. |
| Build the finance function | Controller hired; budgeting, reporting, cost management, and margin analysis led by the CFO. |
