Must Read Info
WALK-INS WILL BE TURNED AWAY.
You must register online by midnight July 11th.
Where
GSA290 Broadway, 30th Fl. Conf. Center Rooms 1 & 2
Enter on Broadway between Duane & Reade
New York, NY
Driving Directions
Free! Brainstorming Funding Options for Your Small Business
Discover How to Fund your Small Business
Who should attend?
Entrepreneurs already committed to starting or expanding their business who need help in determining how to finance their enterprise.
Overview
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. Real life case studies from SCORE clients will help flesh out how to match your business and appropriate financing source.
The workshop will be a brainstorming session to discuss funding options for your business. 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) and the loan application process for traditional banks
- Define “leverage” and its risk to you and the funder
- Calculate the real cost of new money to your business
- 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
Speakers include:
Kelly Chan, KIVA, non-profit organization which provides crowdfunding to support community projects, at lower costs to small businesses, including start-ups (www.kiva.org).
Coco Corona, VEDC, provides loans and microfinancing options to small businesses, particularly those owned by women and minorities who don't qualify for traditional bank financing (www.vedc.org).
Stephanie Thomas, TruFund, funds underserved businesses to sustain and expand small businesses. Funding for capital, inventory management, equipment or space improvement among other goals (www.trufund.org).
Conor McCarthy, NDC Online, supports expansion of eligible small businesses through SBA partially sponsored loans, with longer terms, larger amounts, lower down payments, lower interest rates and better structure matching (www.ndconline.org).
Martin Nowak, ACCION, offers support and funding to small businesses and entrepreneurs in a form of business loans including startup loans, microloans, and Community Advantage loans along with access to our network of partners for backing and technical assistance (www.accion.org).
Nicolas Leeper, Seedinvest, enables individual investors (angels) along with venture capital firms to invest in startups with an emphasis on carefully screening companies who apply for funding (www.seedinvest.com).
Michael Warrington, Valley National Bank, provides customized commercial loan packages and flexible business financing options such as lines of credit (www.valleynationalbank.com).
Jennifer Jackson, SBA (Small Business Administration), sets guidelines for and guarantees general small business, disaster, real estate/equipment as well as micro loans. Venture Capital Program links appropriate small businesses to loans through private investment funds.
This event is presented free through the generosity of
Registration Requirements:
- You must register online by midnight July 11 so your names can be placed on a list at the security station. Walk-ins will be turned away.
- Bring photo ID; allow time to pass through security including metal detectors.