PRESENTS
Over 50 and Want to be Your Own Boss? Learn how to Start and Fund a Business
When
Friday, September 29, 2017 from 11:00 AM to 12:15 PM CDT
Site registration: 10:45 AM
Where
Houston Permitting Center (Training Room 2D)1002 Washington Avenue
Houston, TX 77002
Driving Directions
Contact:
lraman611@yahoo.com
713-487-6565
About Us:
SCORE is an all-volunteer group with real-world business experience, dedicated to your success.Our Mission: Help Small Businesses Succeed.
Our Mantra: We educate, counsel, mentor.
Founded in 1964, SCORE is a non-profit association and a Resource Partner of the U.S. Small Business Administration.
For more details, go to www.houston.score.org
For individuals over 50 and aspiring new entrepreneurs, SCORE Houston, in cooperation with Small Business Administration, lenders and financial planners, present a workshop on Starting and Funding a Business.
1. SBA Programs and Services – presented by LaDonna Barbee, SBA
LaDonna will discuss SBA’S “4-C’s for supporting small businesses:
- Capital;
- Counseling;
- Contracting; and
- Crisis
2. Applying for a SBA Guranteed Loan – presented by Bruce Hurta, Members Choice Credit Union
Bruce will describe the criteria that SBA lenders must use to approve a request for an SBA loan: Experience•Cash Flow•Equity contribution•Credit history•Collateral. SBA loans provide long-term financing for small businesses to grow their business or to finance a building for the business to operate from. The down payment requirement for an SBA loan is typically half of the amount required for conventional bank financing. SBA loans are available up to $5 million per borrower.
3. Using your retirement account to finance your business – presented by Frederick Whitlock, Walker Business Advisory Services
Fred will discuss Entrepreneur Retirement Plan of America (ERPA), a safe harbor 401(k) plan which is specifically designed to enable the plan to invest directly in the entrepreneur’s business. To maintain regulatory compliance, ERPA needs ongoing professional trustee, fiduciary, administrative management and investment services.
Participants will have the opportunity to network with fellow entrepreneurs and meet the lenders at the end of the workshop. SCORE certified mentors will be there to interact and plan future line of action.