Free Workshop: Funding Options for Your Small Business 

Free! Discover how to fund your small business

Small business owners may not know about all their funding options. This workshop provides a framework for making decisions about which type of funding fits your business situation and needs. It orients you to the gamut of ways to raise money for your business, from crowd funding, through alternative lenders, to conventional bank and other loans.

Your instructors will represent institutions that fund businesses at various stages of development. New small business owners will profit from knowledge of self-funding, crowd funding and other money sources more receptive to newer start-ups. Growing and established business owners will learn about community lenders and conventional banks more willing to bankroll businesses with a longer track record.

At the end of this workshop, you will be able to:

• Compare self-funding, financing from friends and family, alternative institutional lenders, and alternative community lenders, and conventional bank lenders, including pros and cons of each 
• Describe the factors funders evaluate in deciding to extend a loan (e.g., credit scores)
• Define “leverage” and its risk to you and the funder
• Calculate the real cost of new money to your business
• List the funding options for newer businesses
• Distinguish between alternative community lenders and conventional banks for more established businesses 
• Outline the loan application requirements for traditional banks
• List the financing options appropriate to your own business and its development stage: new, growing or established
• Summarize ways to find the right lender for your situation

Participating speakers and organizations will include:

Katherine Lynch, KIVA, non-profit organization which provides crowdfunding to support community projects, at lower costs to small businesses, including start-ups. 

Bryan Doxford, NYBDC (New York Business Development Corporation) SBA-licensed to  facilitate access to capital for early stage and mature businesses in New York State, with an emphasis on women and minority-owned businessespro

Sandra Bojorque, VEDC (Valley Economic Development Corporation), extending loans and microfinancing to small businesses that do not qualify for traditional funding.

Michael Nixon, BOEDC (Bronx Overall Economic Development Corporation), SBA Lender providing low cost government loans to grow new or current Bronx businesses at below market rates.

Daniel Buricea, Santander Bank, provides home equity loans, lines of credit, term loans and secured loans to manage and expand existing businesses. SBA preferred lender offering financing to businesses not eligible for conventional financing.

Elaine Sackman, Valley National Bank, supplying a range of business financial services including lines of credit and business loans for established businesses.

Facilitator:  Robert Moses

Robert Moses has worked as a CPA for 35 years, finishing his career as head of corporate taxes at Sony Corporation, specializing in domestic and international tax planning. Bob’s career included Price Waterhouse and being head of  tax departments in the oil and gas sectors as well as the entertainment industry, including Columbia Pictures. As a SCORE NYC Mentor, he has specialized in writing business plans and obtaining small business financing for small businesses. He has also given accounting and finance seminars for SCORE and for the New York State Society of Certified Public Accountants (NYSSCPA). He holds a BS degree from Union College and an MBA from Baruch College.