U.S. Small Business Administration. Erica Choi Senior Area Manager Albany. (518) Ext.

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1 U.S. Small Business Administration Erica Choi Senior Area Manager Albany (518) Ext

2 SBA Mission Help Small Business Owners Start Grow Succeed

3 SBA Organization Syracuse District Office Albany Alternate Work Site 11 Counties Clinton Essex Warren Washington Saratoga Schenectady Albany Rensselaer Columbia Greene Schoharie

4 SBA Resources Financing Programs Business Counseling Government Contracting Assistance Disaster Assistance

5 Financing a Business SBA does not offer grants to start or grow a business Financing programs 7(a) loan program 504 loan program Microloan program

6 7(a) Loan Program SBA s primary business loan program Commercial loan Up to $5 million Federal Government guaranty 75% - 85% guaranty depending on size of loan Advantages for borrowers Long term financing Improved cash flow Fixed maturity No balloons Eligibility Meet lender s criteria Meet 7(a) requirements Type eligibility in search box at Fee Relief in FY2015 Loans $150,000 or less **No guaranty fee** **No ongoing servicing fee**

7 SBA Veterans Advantage Loan terms Up to $350, percent to 4.75 percent over prime depending on the size and maturity of the loan **No guaranty fee** in FY2015 **50% of normal fees for loans over $350,000** Eligible military community members include: Veterans Active-duty in TAP Reserve and National Guard Current spouse of any of the above Widowed spouse of a service member (who died during service or of a service-related disability)

8 504 Loan Program Coordinated by SBA Certified Development Company Business expansion and job creation $5 million maximum ($5.5 million for manufacturers) Typically large projects Land Buildings Equipment Advantages for borrowers Long-term fixed rate Low down payment Full amortization No balloons Eligibility Similar to 7(a) Intended to purchase real estate or major fixed assets, for business expansion and/or job creation

9 Smaller loan size Up to $50,000 Microloan Program How it works SBA funds available to non-profits Non-profits lend to entrepreneurs Advantages for borrowers Direct loan from non-profit intermediary lenders Fixed rate financing Very small loan amounts Technical assistance also available Local Microlenders Adirondack Economic Development Corporation Columbia Economic Development Corporation

10 Business Counseling Free and Confidential Advice Small Business Development Center (SBDC) Centers throughout New York State SCORE Counselors to America s Small Business Chapters throughout New York State Volunteers Women s Business Center (WBC) NYC area Buffalo Syracuse Utica

11 Government Contracting Assistance Procurement Technical Assistance Center (PTAC) Watertown Rockland Matchmaker Events Albany Buffalo Watertown HUBZONE Historically Underutilized Business Zone Located in HUBZONE 35% of employees reside in HUBZONE 8(a) Business Development Owner economically or socially disadvantaged SBA assistance/mentorship Woman Owned Small Business Self OR 3 rd party online certification

12 Disaster Assistance Disaster Office Customer Service Center Buffalo, NY Physical Disaster Loans Rebuild or replace uninsured or underinsured property Economic Injury Disaster Loans Working capital until normal operations resume after a disaster Military Reservist Economic Injury Employee called from Reserve or National Guard to active duty

13 SBA Syracuse District Office

14 SBA Syracuse Newsletter

15 SBA Success Stories

16 Business Planning Basics Executive Summary Company Overview Products and Services Market Analysis Management Team Operating Strategies Critical Risks Cash Flow Income Statement Balance Sheet Funds Required Source: New Directions Consulting

17 Executive Summary Clear, exciting, effective Stand-alone overview Brief description of each succeeding section

18 Company Overview Mission Vision Statement Values History to Current Status Strategy & Goals

19 Products & Services Key features and benefits Current stage of development Proprietary position Competitive advantage

20 Market Analysis Growth Trends Key Driving Forces Needs of Target Market Competitive Environment Demonstrate Market Acceptance

21 Management Team Background and roles of key individuals History and ability to work as an effective team Personnel needs Organization structure

22 Operating Strategies Marketing Plan Production Plan R&D Personnel Strategy Administrative Strategy Financial Strategy

23 Critical Risks Realistic Internal and external Critical risk = those that can threaten the business Viable mitigation plans

24 Cash Flow Realistic Cash requirements Inflows Outflows 3 years Consistent with operating and marketing strategies

25 Income Statement Realistic Attractive income potential 3 years Consistent with operating and marketing strategies

26 Balance Sheet Realistic Requirements Working capital Fixed assets Long term debt and equity positions 3 years

27 Funds Required Clear and concise Amount Timing Type

28 Questions?

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