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Funding for Your Business from SCORE of SE Wisconsin's Free Business Consulting
 

Funding for Your Business from SCORE of SE Wisconsin's Free Business Consulting

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SCORE is a volunteer organization that provides business training, free business consultations and mentorship from executives in your industry. http://scoremilwaukee.weebly.com

SCORE is a volunteer organization that provides business training, free business consultations and mentorship from executives in your industry. http://scoremilwaukee.weebly.com

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    Funding for Your Business from SCORE of SE Wisconsin's Free Business Consulting Funding for Your Business from SCORE of SE Wisconsin's Free Business Consulting Document Transcript

    • FUNDING FOR MY BUSINESS ? REQUISITES BEFORE SEEKING CAPITAL 1. Personal Commitment a. Your own dollars to invest b. Personal financial net worth statement & tax returns from prior years c. Personal credit rating: acceptable score + d. Pledged items [collateral] to cover amount of the loan e. Management ability? Self-starting ability? 2. Business Plan a. Description of business, its niche, products, competition, and marketing strategies b. Financial information: i. All start-up costs ii. Cash flow analysis and detail iii. Three [3] year income/expense projection iv. Breakeven point CAPITAL SOURCES – WHERE? 1. Personal participation and personal connections: a. Savings and pledges [mandatory] b. Relatives and friends c. Individual personal investors 2. Ordinary Commercial Sources a. Banks b. Banks [with SBA terms] c. Community Express [short term use] 3. Extraordinary Sources [Risk Capital or Private Equity] ~ Special situations and breakthrough technologies ~ a, Small Business Investment companies b, Venture Capital companies c, Angel investors See GOOGLE and YELLOW PAGES 4. Internal sources [must be negotiatied] a, Customers b. Suppliers
    • FUNDING FOR MY BUSINESS ? 10/09 tomk