WWBIC FACT SHEET. For More Information: Wisconsin Women's Business Initiative Corporation
|
|
- Estella McDowell
- 8 years ago
- Views:
Transcription
1 WWBIC FACT SHEET Mission: The Wisconsin Women's Business Initiative Corporation (WWBIC) is a statewide economic development corporation providing quality business education, financial awareness programs, technical assistance and access to capital to Wisconsin entrepreneurs and businesses. Business Loan Programs: Loans of $1,000-$100,000 available to qualified businesses with an emphasis on women, minorities, and low-income individuals; up to 200,000 with SBA Community Advantage guarantee Business Education Programs: Approximately 400 business courses and workshops offered annually in Milwaukee, West Allis, Madison, Dane County, Racine, Kenosha, and rural parts of the state. Topics include business planning, entrepreneurship, marketing, financing, and personal money management. Areas of Special Knowledge/Reference: Economic and Community Development serving local, state, national, and international clients Micro-Enterprise Development and Micro Loan Fund Management Business Education, Mentoring and Assistance Programs Business Laboratories Experiential Business Training Businesses started by former public assistance recipients (W-2, unemployment, etc.) Social Purpose Enterprises Financial Awareness Education and Individual Development Accounts (IDA) Key People: President/CVO Wendy K. Baumann Vice President Business Services & Finance Jon Gaines Vice President Client Programs & Services Mara Henningsen Vice President Impact Initiatives Julann Jatczak Structure: Incorporated in the state of Wisconsin in 1987 as a 501(c)(3) tax exempt non-profit corporation U.S. Department of Treasury, Community Development Financial Institution certified since 1998 U.S. Small Business Administration Women's Business Center since 1988 U.S. Small Business Administration Micro Loan Program Intermediary since 1989 U.S. Department of Health and Human Services, Assets for Independence Participant since 2000 For More Information: Wisconsin Women's Business Initiative Corporation info@wwbic.com Greater Milwaukee Madison Kenosha Racine Statewide
2 WWBIC Business Loan Fund Fact Sheet 2015 At a Glance: Micro and small business loans available up to $100,000; up to 200,000 with SBA Community Advantage guarantee We work with women and men and their start-up, growing, and existing small businesses Businesses must be viable, for-profit ventures located in Wisconsin Application can be completed online 24 hours a day (paper application available) Eligibility: Applicants will be evaluated on business and industry experience as well as credit history and capacity to repay the loan Completed Business Plan is required including a 12 month cash flow and three year projections Applicants cannot have child support payments in arrears, outstanding tax liability issues or a bankruptcy in the last 18 months Loan Facts: Loans range in size from $1,000 to $200,000 WWBIC can work with other resources if financing needs are higher Use of loan funds includes: Machinery and Equipment; Furniture and Fixtures; Supplies; Inventory; Working Capital Loan terms range up to 10 years (average is four to six years) Interest is a fixed or variable rate determined at time of loan approval (generally prime + 5%) Closing and other applicable fees are charged Personal guarantees (including spouse) required Your business assets, home and other personal assets may be considered as collateral Online loan application and requirements are at: Special Programs in 2015: In addition to our statewide business loan fund, we have several unique loan products available for qualified borrowers, including: Geographic o Urban o Suburban o Rural communities Demographic o Low-income o Bilingual SBA Community Advantage Lender o 85% Federal SBA guarantee for Community Advantage loans Contact Information: Wisconsin Women s Business Initiative Corporation Milwaukee/West Allis Madison Racine Kenosha Statewide/Rural Mike Hetzel, Director of Lending, Michael.Hetzel@wwbic.com 1/2015
3 2014 WWBIC Loan Snapshot WWBIC Portfolio Balance: $10.5 Million Owned Loans: $9.6 Million Managed Loans: $874,000 Number of Active Borrowers: 335 Closed Loan Dollars: $5.5 Million Number of Closed Loans: Closed Loans Geography # % $ % Greater Milwaukee 46 35% $1,889,400 34% South Central 33 25% $1,462,000 27% Southeast 21 16% $776,950 14% Other Wisconsin 33 25% $1,357,165 25% 2014 Closed Loans Demographics # % $ % Low to moderate income 84 63% $2,810,265 51% Women owned 59 44% $2,107,350 38% Minority owned 39 29% $1,311,500 24% Minority women owned 19 14% $630,000 11% Hispanic/Latino owned 9 7% $215,000 4% 2014 Closed Loans Business Status # % $ % Start ups 72 54% $2,688,400 49% Existing 61 46% $2,797,115 51% 2014 Closed Loans Industry Sectors # % $ % Manufacturing 18 14% $1,010,600 18% Retail & Wholesale Trade 27 20% $843,800 15% Professional Services 19 14% $815,000 15% Health Care Related 15 11% $769,000 14% Food related services 19 14% $712,365 13% Other Services (except Public Administration) 14 11% $437,500 8% Construction & Waste Management 10 8% $380,950 7% Transportation & warehousing 6 5% $279,300 5% Arts, Entertainment, and Recreation 5 4% $237,000 4%
4 Wisconsin Women s Business Initiative Corporation Loan Underwriting Guidelines Revised 1/1/15 General: Loan Size $1,000 - $100,000; up to $200,000 with SBA Community Advantage Guarantee Interest Rates Prime % = currently 8.25% (other lower interest rates loans available restrictions apply) Application Fee $75 Processing Fee $100 Commitment Fee 1.5% of loan amount Credit Policy: Credit Score Bankruptcy Chapter 7 or Chapter 13 Capacity and Cash Flow Items: Business Debt Service Coverage Global Debt Service Coverage Equity Injection As long as there is a good explanation for the scores, WWBIC will consider the loan if there is global cash flow. WWBIC does not lend based on a risk-based credit tiered system. Low credit scores allowable as long as client was not behind on any bills or has open collection items and/or collections where client has not made payment arrangements with the creditor. If payment arrangements were made, written agreement with creditor is requested. Additionally, reasonable explanation for the low credit scores is required such as death in the family, job loss of a spouse, lost a major client and took a year to replace them, etc. Credit abuse is not allowed. Allowable if dismissed or discharged at least 18 months. Bankruptcy in credit history may be considered if history of credit abuse is not present and with reasonable explanation for bankruptcy. 1.2x (covering all business debt, including lease payments) If global cash flow of 1.2x is not available for individual household, WWBIC may underwrite guarantors for coverage. WWBIC looks at capacity for repayment and outside income from spouses, guarantors, etc. as it improves the repayment viability of the loan. Global Cash Flow must be present to show that client has the ability to afford the loan debt. Businesses with a history of losses are generally not approved; however, if a client is coming out of the downturn, WWBIC looks to see how the business is trending and relies upon the business model to justify considerations for approval. 10%-20%; based on collateral, guarantor status, and other factors (Over)
5 Collateral Policy: Ratio Assets >1:1 preferred; WWBIC aims for 1:1 collateral coverage. There are, however, times when that level of coverage is not possible. WWBIC will consider accepting first or second lien position. WWBIC values inventory at 25% of value and equipment at 50%. Inventory is very specific to an industry and can take time to sell, and equipment for the most part can be liquidated fast at 50 cents on the dollar. Real estate is valued at 80% of fair market value, according to the most recent real estate tax bill. Free and clear vehicles are valued at 75% of NADA value. Character and Mission: Start Up Businesses Character Client industry experience is preferred. WWBIC underwrites according to the entire scenario that is developed, assessing the risk of loss to WWBIC while at the same time evaluating the projected success of the business. Follow up is accomplished through the Small Business Consultant function, initially mandating 12 months of monthly financials (income statements, balance sheets, etc.) then quarterly after the first year in business. A coachable client who is willing to listen to WWBIC staff suggestions to fix credit or grow the business during the application stage is preferred. The WWBIC/Client partnership is developed through the application and pre-loan process between the loan officer and the client. A great deal of weight is given to loan officer recommendations. Part of the terms and conditions of a WWBIC loan is that the client will work with the assigned Small Business Consultant and other WWBIC staff on the business as a whole including successful repayment of WWBIC loan debt and will supply financial statements at specified intervals.
6 2014 WWBIC FACT SHEET 2014 OUTCOMES 223 2,456 New Businesses Started Jobs Created & Retained 2014 PROGRAMS & SERVICES EDUCATION & COUNSELING 3,568 Clients Assisted 1,875 Clients Trained 1,197 Clients Counseled 496 Clients Trained and Counseled 18,909 Counseling Hours LENDING 340 Loan Applications Received 133 Loans Closed - Number $5.5M Loans Closed - Dollars 335 Active Borrowers FINANCIAL CAPABILITY 102 Active IDA Holders $95,991 Saver Deposits 2,706 New Wisconsin Savers 16 Assets Purchased OPEN START-UPS EXISTING 54% 46% Business Status of Loans Closed LOAN PORTFOLIO INDUSTRIES As of 12/31/14 17% Manufacturing 15% Retail & Wholesale Trade 14% Professional Services 14% Food Services 11% Healthcare Services 10% Other Services 7% Construction & Waste Management 6% Arts, Entertainment & Recreation 6% Transportation & Warehousing Updated 4/2/15
7 2014 CLIENT DEMOGRAPHIC SNAPSHOT GENDER BREAKDOWN CLIENT PROFILE 71% 29% 62% Low-to-Moderate Income 40% Receive Public Assistance Women Men 6% 10% RACIAL & ETHNIC MINORITIES 80% Milwaukee Area Veterans People With Disabilities AVERAGE AGE 54% Statewide 43Years 2014 WWBIC REFERRAL SOURCES 23% Word of Mouth 23% Other: SBA Partners, Local Economic Development Orgs., etc. 14% Existing WWBIC Clients 11% WWBIC Website 7% Financial Institutions 5% Social Media 5% SBA 4% Government Offices 4% Newspapers and Magazines 3% Educational Institutions 3% WWBIC Direct Mail 2014 CLIENT SATISFACTION 98%of respondents said they would recommend WWBIC to others* 96% of respondents said WWBIC s services met or exceeded their expectations* *Based on responses to the 2014 Annual Client Survey
8 WWBIC has an excellent program for startups. They offer us new opportunities that traditional banks don t. SMALL BUSINESS SUCCESS: FAARAL WOOD PALLETS Milwaukee, Wisconsin OWNERS: Anisaday Gonzalez & Jose Muñoz WWBIC CONNECTION: Education, Coaching, Lending WWBIC INVESTMENT: $5,000 EMPLOYEES: 3 PHONE: In 2012, Anisaday Gonzalez found herself out of a job. In hopes of finding steady employment and growing a successful business, she and Jose Muñoz decided to create Faaral Wood Pallets LLC, a wood pallet assembler and wholesaler. In 2014, a WWBIC small business loan allowed them to purchase a dismantling machine to remove broken pallet components, which increased business efficiency and freed up an employee to enhance production. WWBIC also provided assistance on accounting procedures, a business plan, marketing, and setting and tracking business goals. The business has blossomed into a community venture as many local business owners looking for an environmentally conscious way to recycle used pallets turn to Faaral. Husband and wife duo Jose and Anisaday have tried to keep the business a family affair. Anisaday s knowledge of business made her a natural fit to manage day to day operations while still pursuing her college degree. Her brother was recently brought on as their first full-time employee. Looking to the future, Anisaday and Jose plan to expand further by adding additional equipment and employees. Entrepreneurship Education Lending Coaching Financial Impact
9 WWBIC IMPACT AND 2014 HIGHLIGHTS WWBIC is a leading innovative statewide economic development corporation that has been Putting Dreams to Work since WWBIC focuses on individuals who face barriers in accessing traditional financing or resources. WWBIC opens doors of opportunity by providing these individuals who are interested in starting, strengthening or expanding a business with access to necessary resources and tools such as quality financial and business education, and responsible financial products. IMPACT SINCE 1987 Unduplicated Clients 53,000 INDIVIDUALS 2014 IMPACT New & Existing Clients SERVED 3,568 WHO WE SERVE LOW-TO-MODERATE HOUSEHOLD INCOME GENDER 62% 71% 29% 54% 80% Statewide RACIAL/ETHNIC MINORITIES Milwaukee RACIAL/ETHNIC MINORITIES 3,500 1,031 BUSINESSES STARTED, STRENGTHENED OR EXPANDED 8,300 JOBS CREATED & RETAINED $39.3LOANED TO SMALL BUSINESS OWNERS FINANCIAL COACHING AND INDIVIDUAL DEVELOPMENT ACCOUNTS (IDA) HELP LOW-WEALTH CLIENTS SAVE AND BUILD A BETTER FUTURE. Impact Since OPEN FIRST-TIME HOME OWNERS BUSINESSES STARTED OR EXPANDED 2,456 $5.5 INDIVIDUALS ATTENDED COLLEGE PORTFOLIO GROWTH SOCIAL ENTERPRISE $ ENTREPRENEURS RECEIVED EXPERIENTIAL TRAINING PROVIDED BY WWBIC S SOCIAL ENTERPRISE: COFFEE WITH A CONSCIENCE EXPANDED IMPACT 25% INCREASE FROM 47 COUNTIES REACHED IN 2013 TO 59 COUNTIES REACHED IN 2014 FUNDING SOURCES 40% 21% 22% 17% FEDERAL GOVERNMENT STATE & LOCAL GOV T EARNED REVENUE DONATED REVENUE GREATER MILWAUKEE MADISON KENOSHA RACINE STATEWIDE info@wwbic.com wwbic.com l Updated 2/15
10 WWBIC was first to come on board to finance our venture and helped us increase our manufacturing process efficiency and gain repayment history and credibility for future growth. SMALL BUSINESS SUCCESS: MOBCRAFT BEER Madison, Wisconsin OWNERS: Henry Schwartz, Andrew Gierczak, Giotto Troia WWBIC CONNECTION: Coaching, Lending WEB: mobcraftbeer.com WWBIC INVESTMENT: $75,000 EMPLOYEES: 5 PHONE: Henry Schwartz, Andrew Gierczak, and Giotto Toia saw a large gap in the brewing market and were disappointed in a lack of local breweries that had direct emotional connections with their customers. They decided to use their passion for brewing and business to create MobCraft Beer Inc., the world s first crowdsourced brewery, in In addition to a series of flagship beers and a line of barrel-aged sour beers, Mobcraft brews beers that are created by and voted on by the general public on a monthly basis, with winning beers then shipped to 40 states. MobCraft saw quick success and quickly realized they needed to expand to meet demand. With a loan from WWBIC, they purchased a bottling line which improved output from 3 to 90 cases per hour! The owners also receive one-on-one counseling on payroll and other business matters as the business continues to expand. They are committed to building excitement throughout the brewing industry through their innovative approach to building customer loyalty. Entrepreneurship Education Lending Coaching Financial Impact
11 WWBIC IMPACT AND 2014 HIGHLIGHTS WWBIC is a leading innovative statewide economic development corporation that has been Putting Dreams to Work since WWBIC focuses on individuals who face barriers in accessing traditional financing or resources. WWBIC opens doors of opportunity by providing these individuals who are interested in starting, strengthening or expanding a business with access to necessary resources and tools such as quality financial and business education, and responsible financial products. IMPACT SINCE 1987 Unduplicated Clients 53,000 INDIVIDUALS 2014 IMPACT New & Existing Clients SERVED 3,568 WHO WE SERVE LOW-TO-MODERATE HOUSEHOLD INCOME GENDER 62% 71% 29% 54% 80% Statewide RACIAL/ETHNIC MINORITIES Milwaukee RACIAL/ETHNIC MINORITIES 3,500 1,031 BUSINESSES STARTED, STRENGTHENED OR EXPANDED 8,300 JOBS CREATED & RETAINED $39.3LOANED TO SMALL BUSINESS OWNERS FINANCIAL COACHING AND INDIVIDUAL DEVELOPMENT ACCOUNTS (IDA) HELP LOW-WEALTH CLIENTS SAVE AND BUILD A BETTER FUTURE. Impact Since OPEN FIRST-TIME HOME OWNERS BUSINESSES STARTED OR EXPANDED 2,456 $5.5 INDIVIDUALS ATTENDED COLLEGE PORTFOLIO GROWTH SOCIAL ENTERPRISE $ ENTREPRENEURS RECEIVED EXPERIENTIAL TRAINING PROVIDED BY WWBIC S SOCIAL ENTERPRISE: COFFEE WITH A CONSCIENCE EXPANDED IMPACT 25% INCREASE FROM 47 COUNTIES REACHED IN 2013 TO 59 COUNTIES REACHED IN 2014 FUNDING SOURCES 40% 21% 22% 17% FEDERAL GOVERNMENT STATE & LOCAL GOV T EARNED REVENUE DONATED REVENUE GREATER MILWAUKEE MADISON KENOSHA RACINE STATEWIDE info@wwbic.com wwbic.com l Updated 2/15
Changing the Mindset- Financial Institutions and. Wendy K. Baumann, President/ CVO
Changing the Mindset- Financial Institutions and Effective Partnerships Wendy K. Baumann, President/ CVO Wisconsin Women s Business Initiative Corporation (WWBIC) Statewide economic development organization
More informationSmall Business Administration
Financing the SBA Way Wayne Bell District Director Wichita District Office June 6, 2012 1 Agency History SBA What it is Federal Agency Created in 1953 Purpose To help potential and current small business
More informationALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS
7605B/7601 ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS Revised October 1999 University of Wisconsin System This publication has been developed by the Wisconsin SBDC in partnership with the U.
More informationSBA Loans For Small Business Owners
Commercial Business and Real Estate Consultants Financial support at the Speed of Business SBA 504 LOAN PROGRAM For smarter Commercial Financing of: Real Estate Buildings Mix use properties Machinery Equipment
More informationCase #C Wisconsin Women s Business Initiative Corporation ( WWBIC ) https://www.wwbic.com/
Case #C Wisconsin Women s Business Initiative Corporation ( WWBIC ) https://www.wwbic.com/ Mission The Wisconsin Women s Business Initiative Corporation ( WWBIC ) is a leading innovative statewide economic
More information2012 Economic Development Finance Service Conference Federal Program Update SBA
2012 Economic Development Finance Service Conference Federal Program Update SBA April 26, 2012 10:30-12:00pm SBA Programs Microloan Program Community Advantage Intermediary Lending Pilot Program 7(a) 504
More informationSBA Financing Options
SBA Financing Options Frank Demarest, Deputy District Director 1 7(a) Loan Program SBA s primary business loan program Broad eligibility requirements Wide range of financing needs Increase in the maximum
More informationSBA Programs to Help You Start & Grow Your Small Business
SBA Programs to Help You Start & Grow Your Small Business Don Spry Senior Area Manager U.S. Small Business Administration 419 North 3 rd Street Wilmington, NC 28410 don.spry@sba.gov 910-815-3188 (office)
More informationSBA 7(a) Government. Guaranteed Loan Program
SBA 7(a) Government Guaranteed Loan Program SBA Overview The U.S. Small Business Administration (SBA) Was Created By Congress In 1953 To Assist And Counsel Small Business Growth And Prosperity, Thereby
More informationBusiness Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP
Business Financing An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Even in these challenging economic times, businesses still have a need to grow and to obtain
More informationSSBCI PROGRAM PROFILE: COLLATERAL SUPPORT PROGRAM. May 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury
SSBCI PROGRAM PROFILE: COLLATERAL SUPPORT PROGRAM May 17, 2011 (SSBCI) U.S. Department of the Treasury What is a Collateral Support Program? A Collateral Support Program is designed to enable financing
More informationSBA Update Prime Contractors Group Eric Ness SBA Wisconsin District Director
SBA Update Prime Contractors Group Eric Ness SBA Wisconsin District Director October 13, 2015 1 Overview Programs and Services Capital Contracting Counseling 2 7(a) Loan Program SBA s primary business
More informationBusiness Loan Application
Business Loan Application For LDC Staff Use Application received on: by Loan Program (s): 7/2015 BUSINESS INFORMATION Business Name: (Proposed or Existing) Loan Amount: $ Business Address: City County
More informationCHEROKEE COUNTY. Entrepreneurship (E-) Community Loan Application
CHEROKEE COUNTY Entrepreneurship (E-) Community Loan Application January 2015 Cherokee County E-Community Program A partnership project of Cherokee County Economic Development Corporation 104 S. Kansas
More informationSCORE. Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW
SCORE Counselors to America s Small Business SMALL BUSINESS START-UP FINANCING OVERVIEW One key to a successful business start-up and expansion is your ability to obtain and secure appropriate financing.
More informationMICRO LOAN PROGRAM LOCAL COMMITTEE MANUAL APRIL, 2014
MICRO LOAN PROGRAM LOCAL COMMITTEE MANUAL APRIL, 2014 Regional business fund, inc. FOR MORE INFORMATION CONTACT: REGIONAL BUSINESS FUND, INC. 800 WISCONSIN STREET, MAIL BOX 9 EAU CLAIRE, WI 54703 Phone:
More informationFinancial Institution Disclosure Form City of Minneapolis, Minnesota
Financial Institution Disclosure Form City of Minneapolis, Minnesota Financial institutions which participate in or desire to participate in City of Minneapolis programs or the provision of banking services
More informationLocated downtown at 1250 6 th Avenue, ACCION San Diego is an independent, 501 (c) (3) non-profit organization that provides economic opportunity to
Located downtown at 1250 6 th Avenue, ACCION San Diego is an independent, 501 (c) (3) non-profit organization that provides economic opportunity to micro-entrepreneurs who lack access to traditional forms
More informationSOURCES OF CAPITAL. 1. KINDS OF MONEY When you plan the capital requirements of your new firm, you can consider two forms of money.
SOURCES OF CAPITAL New businesses must be capitalized carefully. Entrepreneurs must identify their start-up capital needs and their cash flow through their break-even point. The total of the two, plus
More informationOpportunity Finance Network. Presentation to Minority Business Development Agency: 3/4/15
Opportunity Finance Network Presentation to Minority Business Development Agency: 3/4/15 Opportunity Finance Network (OFN) Leading national network of community development financial institutions (CDFIs)
More informationAre you under 18 years of age? Yes No. Do you live outside the area of service? (http://www.bocnet.org/boc/map.asp) Yes No
Thank you for choosing BOC Capital for your small business needs. If you have trouble or would like assistance with your loan application please contact us at 914-948-6098 x14 or via email at info@wedcbiz.org.
More informationOverview of SBA Loan Programs
Overview of SBA Loan Programs U.S. Small Business Administration San Francisco District Office 455 Market Street, Suite 600 San Francisco, CA 94105 (415)744-6820 SBA Loan Programs The Big 3 SBA Microloan
More informationAlice s Integrity* Loan Fund
Mission Statement Alice s Integrity* Loan Fund Provide limited capital to individuals who commit to being self-sustaining entrepreneurs. These funds are to be used for start-up business ventures or to
More informationIf you are applying for a loan of $20,000 or more: A certification that you were unable to obtain credit through other financial sources
SUBJECT: APPLICATION PACKAGE Dear Entrepreneur: We appreciate your inquiry about the Program. The goal of our Program is to provide loans to start-up and expanding small businesses in Washington, Fayette,
More informationSMALL BUSINESS REVOLVING LOAN FUND GUIDELINES 1.0 INTRODUCTION
SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES 1.0 INTRODUCTION Fay-Penn Economic Development Council has established a Small Business Loan Fund. The Small Business Loan Fund Program is designed to stimulate
More informationSBA Loan Programs. Houston District Office. Manuel Gonzalez Houston District Director. July 24 th, 2014. Moving Forward with Excellence
Houston District Office SBA Loan Programs Manuel Gonzalez Houston District Director July 24 th, 2014 Houston District Office Topics to be discussed : Overview of SBA Three SBA Loan Programs SBA Impact
More informationHow Important are Small Businesses to America s Economy
How Important are Small Businesses to America s Economy Small businesses make up: 99.7 percent of U.S. employer firms, 63 percent of net new private sector jobs, 48.5 percent of private sector employment,
More informationAre you under 18 years of age? Yes No. Do you live outside the area of service? * Yes No. Is your business outside the area of service?
Thank you for choosing GNEC for your small business needs. Applicants MUST call prior to submitting an application us at 973-242-4132 or via email at info@gnecorp.org. LOAN PREQUALIFICATION CHECK Are you
More informationSMALL BUSINESS REVOLVING LOAN FUND GUIDELINES
SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES 1.0 INTRODUCTION Fay-Penn Economic Development Council has established a Small Business Loan Fund. The Small Business Loan Fund Program is designed to stimulate
More informationSBA MICROLOAN PROGRAM. Session: Loan Side Basics
SBA MICROLOAN PROGRAM Session: Loan Side Basics Microloan Program Purpose The Microloan Program assists women, low income, veteran, and minority entrepreneurs, and other small businesses in need of financing
More informationHow To Get A Farm Loan In Illinois
A Guide for Federal, State and Regional Loan Incentive and Grant s for Business and Economic PROGRAM TERM RATE FEES 7(a) Loan Guaranty The s primary loan program Business start ups or expansion; construction
More informationHow To Finance A Business With An Sba 7(A) Loan
Small Business Programs and Resources Start-Up Business Weak Collateral Longer Repayment Terms Unfamiliar Industry Achieve community economic development through job creation and retention by providing
More informationUSDA IRP LOAN FUND PROSPERA BUSINESS NETWORK 2015 CHARLOTTE STREET, SUITE 1 BOZEMAN, MT 59718 406.587.3113
USDA IRP LOAN FUND Prospera s Intermediary Relending Program Revolving Loan Fund ( IRP Loan Fund ) provides financing to businesses located in Gallatin County and Park County. Prospera s IRP Loan Fund
More informationUtah Center for Neighborhood Stabilization Introduces
A summary for Utah financial institutions Utah Center for Neighborhood Stabilization Introduces Utah Small Business Growth Initiative In addition to the Utah Center for Affordable Housing s (UCAH) efforts
More informationGraduate School of Colorado SBA lending Presentation
Graduate School of Colorado SBA lending Presentation SBA lending course summary The course will provide an overview and comparison of SBA 7a, SBA 504 and USDA Business & Industry (B&I) loan programs. SBA
More informationHOW TO LAND AN SBA Loan
HOW TO LAND AN SBA Loan by Ron Box, CPA/CITP/CFF With all of the uncertainty around maintaining a predictable flow of capital to businesses, a commercial loan provided by a bank but guaranteed by the federal
More informationTAKING THE MYSTERY OUT OF FINANCE
TAKING THE MYSTERY OUT OF FINANCE Presented By: Eva Brown, Director of Access to Capital 312 853 3477 x 560 OBJECTIVES Determine how much money you need to start/expand your business. Determine your ability
More informationFinancing Options for Your Small Business. Show me the money!
Financing Options for Your Small Business Show me the money! Purpose: Commercial Financing Basics Potential Methods of Commercial Finance Overview of U.S. Small Business Administration Key Lending Programs
More informationSCORER Counselors to America's Small Business. Structuring the Loan Request Types of SBA Loans Available How to Get the Banker to Say Yes
SCORER Counselors to America's Small Business READY TO TALK TO THE BANKER Structuring the Loan Request Types of SBA Loans Available How to Get the Banker to Say Yes The Banker will expect you to provide
More informationThe FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing
Commercial Lenders The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing The FFCFC 504 Loan Program is designed to help small business owners expand through the purchase
More informationCITY OF LOMPOC ECONOMIC DEVELOPMENT PROGRAM REVOLVING LOAN FUND 2015 (COMMERCIAL AND INDUSTRIAL PROJECTS)
CITY OF LOMPOC ECONOMIC DEVELOPMENT PROGRAM REVOLVING LOAN FUND 2015 (COMMERCIAL AND INDUSTRIAL PROJECTS) The City of Lompoc provides federal Community Development Block Grant ( CDBG ) funds for eligible
More informationTHE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA
THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA A Program Financed Under the U.S. Department of Housing & Urban Development Section 108 Loan Program in Association with the U.S Small
More informationAlternative Financing for Small Businesses - IBANYS. June, 2015 Jim Conroy, Senior Vice President New York Business Development Corporation
Alternative Financing for Small Businesses - IBANYS June, 2015 Jim Conroy, Senior Vice President New York Business Development Corporation 1 About NYBDC NYBDC was formed in 1955 and is owned by banks Approximately
More informationAPPLICATION REDI Self Employment (SELP)/Entrepreneur FINANCIAL ASSISTANCE PROGRAM
APPLICATION REDI Self Employment (SELP)/Entrepreneur FINANCIAL ASSISTANCE PROGRAM Regional Economic Development Investments Inc. (REDI, Inc.) provides loans up to a maximum of 15,000 to financially assist
More informationDick Wehrs Integrity Loan Fund
Mission Statement Provide limited capital to individuals who commit to being self-sustaining entrepreneurs. These funds are to be used for start-up business ventures or to enhance growth opportunities.
More informationILLINOIS BUSINESS FINANCING MATRIX
A Guide of Federal, State and Regional Loan Incentive and Grant s for Business and Economic TERM RATE FEES 7(a) Loan Guaranty The s primary loan program Business start ups or expansion; construction of
More informationLOAN APPLICATION. Mission. Program Information: Do you qualify?
LOAN APPLICATION Mission The mission of Economic Development and Financing Corporation (EDFC) is Connecting money and ideas with entrepreneurs to create sustainable prosperity in Lake and Mendocino Counties.
More informationAPPLICATION PACKAGE. New Orleans Small Business Assistance Fund PROGRAM PARTNERS HOW TO APPLY KEY DATES APPLICATION PACKAGE CONTENT
PROGRAM PARTNERS New Orleans Small Business Assistance Fund APPLICATION PACKAGE The Small Business Assistance Fund (SBAF) is a new financing program created in partnership with the City of New Orleans
More informationGUIDE TO ACQUIRING STARTUP FINANCING
GUIDE TO ACQUIRING STARTUP FINANCING 2015 American Institute of CPAs. All rights reserved. 15608-312 To make your business #CPAPOWERED, call today and let s get started. Contact information Address Phone
More informationGUIDE TO ACQUIRING STARTUP FINANCING. To make your business #CPAPOWERED, call today and let s get started.
GUIDE TO ACQUIRING STARTUP FINANCING To make your business #CPAPOWERED, call today and let s get started. It s no secret that you will need capital money to launch your new business. In fact, many entrepreneurs
More informationFunding Your Business
Page 12 County of Bucks Community Services Division Lynn T. Bush, Executive Director and County Chief Clerk Community and Business Development Department Vitor A. Vicente, Director Neshaminy Manor Center
More informationEntrepreneurship (E-) Community Loan Application
Reno County E-Partners Entrepreneurship (E-) Community Loan Application Local Participating Organizations Quest Center for Entrepreneurs, Downtown Hutchinson Revitalization Partnership, Hutchinson/Reno
More informationThe Florist Credit Union:
The Florist Federal Credit Union BUSINESS LOAN APPLICATION I. GENERAL INFORMATION Applicants Name / Borrower (individual business owner or business name): Tax ID Number: Mailing Address: Contact Person:
More informationFirst Industries Fund
First Industries Fund First Industries is one of 19 programs in the June 2004 economic stimulus package. It provides $100 million for agriculture, and $50 million for tourism. Final guidelines were approved
More informationRISK ASSESSMENT FOR SMALL BUSINESS. Terry S. Campbell, Community Development Officer Department of Development & Technology
RISK ASSESSMENT FOR SMALL BUSINESS Terry S. Campbell, Community Development Officer Department of Development & Technology Date: March 25, 2004 1 Counseling Tool Outline - Cover Page - Outline - Introduction
More informationSBA LOAN/ LINE APPLICATION
BUSINESS APPLICANT INFORMATION BUSINESS APPLICATION (If applicant is a holding company, please complete a second application for any operating businesses that will guaranty or be co-borrower.) Legal Name
More informationSBA Business Loan Programs
SBA Business Loan Programs Horizon Certified Development Company Horizon Certified Development Company Incorporated in 1982 as Hamilton County Development Co., Inc. (HCDC) HCDC is a Certified Development
More informationSmall Business Start-Ups: National Resources
Small Business Start-Ups: National Resources U.S. Small Business Administration (SBA) www.sba.gov SDA Direct: http://www.sba.gov/sba-direct US Small Business Administration 409 3rd St, SW Washington DC
More informationSBA Loan Checklist. Ownership Information. Site Information (For Real Estate Transactions Only) Business Information
SBA Loan Checklist Ownership Information Completed Credit Application Completed Personal Financial Statement (for each owner) Summary of Project Cost (form attached) 3 Years Personal Federal Tax Returns
More informationSBA Programs & Services
Helping you start, grow and succeed. SBA Programs & Services 2012 Government Small Business Conference South Florida District Office Overview Covers 24 counties from Monroe to Osceola District Office located
More informationAre you eligible for an ACCION Chicago small business loan?
Lending. Supporting. Inspiring. Are you eligible for an ACCION Chicago small business loan? Y/ N Are you looking for a loan between 200 and 15,000 for your start-up business (less than 6 months of revenue
More informationHow To Help Your Business
AVAILABLE ASSISTANCE TO BUSINESSES The Arlington EDA is pleased to offer local businesses access to the following incentives and information resources. TAX INCREMENT FINANCING Tax increment financing is
More informationCommercial Real Estate. Financing Programs. The SBA Adv. www.sba.gov/ma. www.sba.gov. Programs and services to help you start, grow and succeed
Commercial Real Estate Programs and services to help you start, grow and succeed Financing Programs The SBA Adv /ma Programs and services to help you start, grow and succeed We are the SBA History: Part
More informationBUSINESS LOAN APPLICATION
BUSINESS LOAN APPLICATION Thank you for your decision in obtaining a commercial loan from our business service division. Please complete the following information as accurately as possible so we may better
More informationEOF. Economic Opportunities Fund
EOF Economic Opportunities Fund a subsidiary of Women s Opportunities Resource Center To Whom It May Concern: Thank you for requesting a application. Please complete, sign and return the application, and
More informationIs Entrepreneurship For You?
Is Entrepreneurship For You? Starting your own business can be an exciting and rewarding experience. Consider whether you have the following characteristics and skills associated with successful businesses.
More informationBaltimoreMICRO - Revolving Loan Fund
BaltimoreMICRO - Revolving Loan Fund sbrcbaltimore.com FACT SHEET Description and purpose Administered by the Baltimore Development Corporation (BDC), the purpose BaltimoreMICRO is to provide existing
More informationSMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS
SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS February 14, 2012 Terrence K. McHugh President Commercial Alliance 1 Business Lending in Credit Unions 1998 regulation limits business lending in
More informationARC LOAN PROGRAM. Office of Small Business & Entrepreneurship and SBA
ARC LOAN PROGRAM Office of Small Business & Entrepreneurship and SBA 1 Timeline June 8 th : Regulation, Procedural Guidance and Forms Released Week of June 8 th : Lender Training June 15 th : SBA Begins
More informationPlan and Track Your Finances
Plan and Track Your Finances 9.1 Financing Your Business 9.2 Pro Forma Financial Statements 9.3 Recordkeeping for Businesses Lesson 9.1 Financing Your Business Goals Estimate your startup costs and personal
More informationU.S. Small Business Administration
Financing Small Businesses 1 of 16 What is SBA s Mission? The (SBA) is an independent agency of the federal government established in 1953 to help start, build and grow small businesses in the United States.
More informationA Guide For Business Operation, Start-Up, Relocation, and Expansion in Downtown Naples
A Guide For Business Operation, Start-Up, Relocation, and Expansion in Downtown Naples This Section provides information on Financial Resources & Assistance. D owntown Naples, Florida is the ideal place
More informationSBA Programs SBA Loan Programs and Services Panel. Eric Ness, District Director
SBA Programs SBA Loan Programs and Services Panel Eric Ness, District Director FDIC Small Business Workshop Appleton May 6, 2015 1 7(a) Loan Program SBA s primary business loan program Broad eligibility
More information99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 SB0708
*LRB00MGMb* TH GENERAL ASSEMBLY State of Illinois 0 and 0 SB00 Introduced //0, by Sen. Dan Kotowski SYNOPSIS AS New Act 0 ILCS 0/. new INTRODUCED: Creates the Microloan Program Act. Provides that the Director
More informationUNDERSTANDING WHERE YOU STAND. A Simple Guide to Your Company s Financial Statements
UNDERSTANDING WHERE YOU STAND A Simple Guide to Your Company s Financial Statements Contents INTRODUCTION One statement cannot diagnose your company s financial health. Put several statements together
More informationSBA LOAN APPLICATION
Please submit application to Mike Litton at mlitton@plainscapital.com. SBA LOAN APPLICATION PlainsCapital Bank is a Preferred SBA Lender. The following information is required for initial processing, however,
More informationMaryland Business Recovery Loan Program Fact Sheet
Maryland Department of Housing & Community Development Division of Neighborhood Revitalization Lawrence J. Hogan Jr Governor Boyd K. Rutherford Lt. Governor Kenneth C. Holt Secretary Maryland Business
More informationSBA 504 Loan Program FACT SHEET
SBA 504 Loan Program FACT SHEET The Oakland County Business Finance Corporation (OCBFC) was certified under the Small Business Administration's (SBA) Certified Development Company program in September
More informationCDA BLF LOAN APPLICATION
CDA BLF LOAN APPLICATION Name of of Business (Legal Name): Address: City, State, Zip: Business Phone // Fax: Federal Tax ID#: Principals Principal 1 Principal 2 Name: Address: City, State, Zip: Phone:
More informationShort Term Loans and Lines of Credit
Short Term Loans and Lines of Credit Disadvantaged Business Enterprise (DBE) Supportive Services Program The contents of this training course reflect the views of the author who is responsible for the
More informationNORTHWEST LOAN FUND Serving Eagle, Garfield, Grand, Jackson, Moffat, Pitkin, Rio Blanco, Routt and Summit Counties
NORTHWEST LOAN FUND Serving Eagle, Garfield, Grand, Jackson, Moffat, Pitkin, Rio Blanco, Routt and Summit Counties SUMMARY OF LOAN REQUEST NLF Loan Request Amount 1. PRELIMINARY INFORMATION : Business
More informationMILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION
MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION Created in proud partnership with BUSINESS DEVELOPMENT LOAN POOL (BDLP) Milwaukee Downtown,
More informationBUSINESS MICROLOAN APPLICATION. Quin Rivers, Inc.
BUSINESS MICROLOAN APPLICATION Quin Rivers, Inc. 12025 Courthouse Circle, New Kent, VA 23124-0208 Tel: (804) 966-8752 Fax: (804) 966-8739 Thank you for contacting Quin Rivers for a business loan. The basic
More informationSMALL BUSINESS LOAN GUIDE JANUARY 2014. A guide to help small business owners navigate the loan application process
JANUARY 2014 A guide to help small business owners navigate the loan application process TABLE OF CONTENTS Contents WHY THIS GUIDE? 1 EQUITY INVESTMENT 2 CASH FLOW PROJECTIONS 4 WORKING CAPITAL 6 COLLATERAL
More informationACCESS TO CAPITAL FOR SMALL BUSINESSES
ACCESS TO CAPITAL FOR SMALL BUSINESSES Annie Hudspeth annie.hudspeth@sba.gov 210.403.5918 Lionel Davila lionel.davila@sba.gov 210.403.5917 Lender Relations Specialists Mission Established on July 30, 1953
More informationFinance Primer: A Guide to SBA s Loan Guaranty Programs. Text File
Finance Primer: A Guide to SBA s Loan Guaranty Programs Text File Slide 1 Finance Primer: A Guide to SBA s Loan Guaranty Programs Welcome to SBA s online training program, the Finance Primer: A Guide to
More informationFranklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines
Franklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines Program Sponsors and Key Stakeholders The Micro Loan Program (MLP) is sponsored by the SunTrust
More informationGrowing Your Loan Portfolio Through SBA Lending
Growing Your Loan Portfolio Through SBA Lending Presented By: U.S. Small Business Administration Tennessee District Office 2 International Plaza, Suite 500 Nashville, TN 37217 Today s SBA: Smart, Bold,
More informationOverview of SBA Economic Development Programs and the Impact of the Recovery Act
Overview of SBA Economic Development Programs and the Impact of the Recovery Act 1 Access to Capital SBA guarantees loans on reasonable terms through financing partners to small businesses that are unable
More informationRIC/REAP Microenterprise & Small Business Loan Fund Policy
RIC/REAP Microenterprise & Small Business Loan Fund Policy 0.0 INTRODUCTION.. 2 Non Discrimination Policy 2 Statement of Mission. 2 Portfolio Structure. 2 1.0 LOANS. 3 1.1 Eligibility RIC/REAP Microenterprise
More informationThe new economics of educational lending under the ihelp program
The new economics of educational lending under the ihelp program Finally, a private student loan program that makes financial sense for community banks and their customers. Students- still a great investment
More informationLOAN APPLICATION. Name of Business (Legal Name): Address: City, State, Zip: Business Phone: Federal Tax ID #:
LOAN APPLICATION Name of Business (Legal Name): Business Phone: Federal Tax ID #: Fax: Principals Name: Phone: Social Security #: Type of Business Sole Proprietorship Corporation Partnership Date Established
More informationState Small Business Credit Initiative
State Small Business Credit Initiative Collateral Enhancement Program Ohio Capital Access Program Targeted Investment Program The State of Ohio is an Equal Opportunity Employer and Provider of ADA Services.
More informationBUSINESS AND INDUSTRY (B&I) LOAN GUARANTEE
Rural Development Business & Cooperative Programs www.rurdev.usda.gov/ma Southern New England State Office 451 West Street, Suite 2 Amherst, MA 01002 Phone: 413-253-4300 Fax: 413-253-4347 Norwich Area
More informationSmall Business Administration Loan Application
BUSINESS INFORMATION Small Business Administration Loan Application Business Name Structure (Corporation, Partnership, Sole P., LLC) Address Type of Business City, State, Zip No. of Employees: Before After
More informationSmall Business Loan Guaranty Program
City of Noblesville Economic Development Department Small Business Loan Guaranty Program Application Package Small businesses create the highest number of jobs across the country, but face the greatest
More informationMISSISSIPPI DEVELOPMENT AUTHORITY SMALL BUSINESS LOAN GUARANTY PROGRAM
EXHIBIT C MISSISSIPPI DEVELOPMENT AUTHORITY SMALL BUSINESS LOAN GUARANTY PROGRAM APPLICATION MISSISSIPPI DEVELOPMENT AUTHORITY APPLICATION FOR SMALL BUSINESS LOAN GUARANTY PROGRAM INSTRUCTIONS TO LENDER:
More informationVirginia Individual Development Accounts Program. Program Design
Virginia Individual Development Accounts Program Program Design Revised January 2012 This program receives funding from the Virginia Department of Social Services, Virginia Housing Development Authority,
More informationECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF FLINT
ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF FLINT Dear Applicant: Thank you for your interest in the Economic Development Corporation of the City of Flint loan program. Enclosed are the Commercial
More informationAnnual report. to our members. This credit union is federally insured by the National Credit Union Administration
Annual report to our members 2013 This credit union is federally insured by the National Credit Union Administration OSU Federal s core values Member focus Education Integrity Social responsibility Cooperative
More information