Ted McCarthy
Fractional CFO, CEO Finance Academy
Ted has spent his career on both sides of the lending desk. He started as a commercial banker, then spent more than 15 years as CFO of equipment leasing, development, and service companies, several of which he helped sell. Today he helps contractors and service businesses get clear on their cash, their margins, and their bank.
Book a Free Cash Flow CallFrom Banker to CFO to Business Owner
Ted began his career in commercial banking in Michigan, as a vice president in corporate banking at Old Kent Bank and Fifth Third and later in commercial real estate lending at Republic Bank. He was the person deciding whether to lend money to businesses, which taught him exactly what a bank looks for and what makes it nervous.
From there he moved into the CFO seat. At FCM Rail he ran every financial part of a $100 million equipment leasing company, including strategic planning, credit approval, and the company's lender relationships, and he negotiated an increase to its $70 million revolving loan facility. At Mountaineer Leasing he rebuilt the accounting system and quarterbacked the sale of the company to a large institutional investor. At BL Development Group he oversaw the finances of a restaurant group with about 700 employees, built a daily dashboard so managers could adjust inventory and labor in real time, and helped bring the company to a sale.
"As a former banker, I still speak banker talk."
Ted McCarthy, to a contractor client working through a new loanThen Ted stepped outside the CFO role and became an owner himself. He bought into AMT Logistics, a FedEx delivery contractor in Southeast Michigan, and ran a fleet of trucks and drivers for several years. He handled routes, hiring, safety compliance, payroll, and contract negotiations with FedEx, and cut overall expenses by about 20 percent before selling the business. Since 2020 he has worked as a CFO for companies across several industries, with a focus on contractors, and he joined CEO Finance Academy to do that work with more owners.
He has been the banker, the CFO, and the owner signing the personal guarantee. When a contractor is trying to land a term loan or a line of credit, Ted knows what the bank will ask for before it asks. And when an owner says payroll keeps them up at night, he has been there too.
How Ted Thinks About Business Money
Know your cash 13 weeks out
Contractors live with big swings between paying for a job and getting paid for it. Ted builds a 13-week cash flow model that pulls receivables and payables from QuickBooks, so every week the owner can see what's coming in, what has to go out, and whether to draw on the line.
Profit and cash are different questions
Revenue and expenses tell you whether the business is profitable. Sources and uses of money, and their timing, tell you whether you can make payroll. Owners growing fast usually need help seeing the second one.
Compare every estimate to the actual
The costs that get missed in bids are usually the same ones: fuel, small consumables, and the true cost of using your own equipment. Tracking budget against actual on every job is how those gaps get closed.
Set the money aside before it's due
Ted has owners move money into a separate tax account every week, so tax season stops being a scramble and profit stops disappearing into the next job.
Look past the black and white
The numbers matter, but Ted always asks what they mean for the owner: more time off, a business that runs without them, or the option to sell someday. That answer shapes every recommendation he makes.
What Ted Works On With Clients
Cash Flow Forecasting
Weekly 13-week cash forecasts built from live receivables and payables, so owners see a gap before it hits.
Bank Loans and Credit Lines
Preparing for term loans, lines of credit, and refinancing expensive debt, and speaking the lender's language.
Job Costing and Margins
Getting cost codes, budgets, and work-in-progress reporting to show what each job really earns.
Growth and Exit Readiness
Deciding when a new hire is affordable, and building the systems a buyer would want to see.
Who Ted Works With
Ted works mostly with contractors, including electrical, civil, and specialty trades, along with equipment-heavy and logistics businesses. He's based in Fenton, Michigan, and works with owners across the country.
- Fractional CFO services for construction companies
- Fractional CFO services for HVAC companies
- All fractional CFO services
- Client case studies
Connect with Ted on LinkedIn, or meet the rest of the team.
Want Ted's Team to Look at Your Numbers?
Book a free cash flow call. We'll look at your numbers together and show you what a fractional CFO would fix first.
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