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SEMINAR: FINANCING YOUR SMALL BUSINESS ---------------- IN HARD TIMES
Sponsored by MMS-Direct
New Dates available soon 8:30 a.m. - 12:00 p.m. (details below)
Registration: $30.00
Save $5 by pre-registering!
Undercapitalization is one of the major reasons for business failure. To succeed, most small businesses and start-ups need a blend of equity capital and borrowed funds. Where can the entrepreneur turn for his or her capital requirements? This seminar will give you the answer to that pivotal question.
SCORE counselors will address the equity issue by suggesting various funding sources, including:
* Your own resources
* Your angels (Family and friends)
* Home equity loans
* Collateralized loans (Securities & mortgages)
* Cash value life insurance
* Partners
* Retirement accounts
* Seller financing (Subordination)
Several local lenders will share with you what they look for in a loan
applicant and the steps you should take to successfully secure a business
loan. You will learn about different loan products, how lenders evaluate
applicants and the information you need to assemble to make your application
a winner. Each institution has a different set of lending parameters
in terms of credit worthiness, industry experience, equity contribution
and risk assessment. You can dramatically increase your likelihood of
submitting a successful loan package if you understand and follow these
guidelines. The participating lenders are:
- Mountain BizWorks offers training, financing and opportunity for businesses and entrepreneurs. It offers consultation, business training courses, workshops, access to office technology and loans from $2,500 to $50,000. Since 1989 Mountain BizWorks has through its clients, created more than 250 jobs and sustained an additional 350 jobs. In November 2003, the SBA designated Mountain BizWorks as an SBA Women’s Business Center and provided a grant which enables them to provide training and technical assistance to women entrepreneur
- Self-Help is an innovative lender providing financing to small businesses and nonprofit organizations. They focus on lending to enterprises that need special financing not available from their local banks. Their financing can help companies that need more capital than a bank will provide or that are just not yet ready for conventional financing. Self-Help's business loan products include: microloans, staged microloans, small business loans and SBA 504 small business loans.
A sample of subjects to be discussed:
- How does a loan officer evaluate a loan request?
- What are the procedures?
- What is the risk evaluation process?
- Who makes the decision?
- What does a lender want in a Business Plan?
- What basics need to be covered?What are the key financials?
- How long a period should they cover?
- What role can the SBA play?
- How can I get the SBA's help if I need it?
- How much collateral do I need?
- How much must I invest in my start-up?
- Can women obtain special assistance seeking a business loan?
Dick Colella
is a SCORE counselor having been with The Eraser Company, an
upstate New York manufacturing company, for 28 years. He started as
the Controller and after several years was promoted to General Manager
and later Executive Vice President. In addition, he served as a member
of the board of directors and Treasurer of the company. Concurrently
to the above, Mr. Colella was a member of the United States Marine Corps
Reserves, retiring with the rank of Colonel.
Fred Waldkoetter
is Director of Lending at Mountain BizWorks and has over 30
years experience in the finance field. Prior to joining Mountain BizWorks,
he was Senior Vice President and Central Division Manager for Production
Finance International, LLC. His banking experience included his tenure
as General Manager, London Branch, InterFirst Bank Dallas, with responsibilities
for Europe, Middle East and Africa. Mr. Waldkoetter earned his bachelor's
degree in Accounting and a master's degree in Finance and Management,
both from Indiana University.
Jane Hatley
is a Commercial Loan Officer at Self-Help's Asheville
office. Before coming to Self-Help, she was the CEO of a small Internet
Service provider which she helped to build from start-up to its acquisition
by a larger internet conglomerate. She has over 20 years of management
and consulting experience.
Chase Johnson
is the Small Business Lending Manager for Asheville Savings Bank. She
obtained her Masters in Business Administration from Appalachian State
University. She is a member of the Executive Association of Greater
Asheville and the Asheville Downtown Association. She volunteers with
Big Brothers Big Sisters, Habitat for Humanity, and Honor Air.
Patricia
Costello is a Commercial Officer at Self-Help’s Asheville
office. She has been with Self-Help for four years, first in Greensboro,
NC and now in Asheville. She has an accounting and financial background
and worked for Merrill Lynch, Wachovia and Arthur Anderson earlier in
her career.
Scheduled dates, times, location and directions:
- Saturday
- 8:00 a.m. - Registration
- 8:30 a.m. - Seminar starts promptly
- Location: A-B Tech Enka Campus, Haynes Center, Room 128
Directions:
- Take I-40 to Exit 44 (coming from East or West)
- Turn right off the exit ramp.
- Go to 4th traffic light (do not count the light at the end of the exit ramp).
- Turn left on Sand Hill Road (this is a 4-way intersection with Asbury Road turning to the right)
- Go to second entrance on left (there is a sign identifying A-B Tech Enka Campus)
- The first building on the right is the Haynes Center- Room 128
- There is ample parking
Inclement Weather Schedule:
When weather conditions are such that driving is hazardous, seminars will be cancelled and rescheduled. Asheville SCORE will follow A-B Tech's decision to cancel classes.
Closing and Weather Links:
- Call A-B Tech at 254-1921 for a taped announcement, or visit their web site (abtech.edu)
- WLOS delays and closing list
- Asheville Citizen-Times
- WWNC delays and closing list
- WCQS delays and closing list