Business Financing                   BasicsASU 052112                   © ASBTDC 2012 All Rights Reserved
   Training    ◦ Classes for new ventures and existing businesses    ◦ Special conferences   Research    ◦ Sample busine...
   Know what financial information is vital to operating your    business   Know exactly where you stand at all times  ...
   Foundation Documents   Transaction Journals   General Ledger   Trail Balance   Adjusted Trial Balance   Financial...
Understand the difference between profit and cash flow?              Never, never, ever, ever, run out of cash!   Cash fl...
   YOUR CREDIT REPORT IS IMPORTANT!   Your credit record affects all financial    transactions   Review your credit rep...
   Your credit report is a compilation of your payment    habits and usage of credit over time   Monitor it for suspicio...
   Private investment   Grants   Conventional financing   Government-backed programs   Alternative lending programs  ...
Private Investment© ASBTDC 2012 All Rights Reserved
   Owners Equity is the contribution of capital and    other assets   Angel investors provide capital for a percentage  ...
   Savings Accounts   Relatives or Friends   Credit Cards   Second Mortgage   Retirement Plans
Grant Resources© ASBTDC 2012 All Rights Reserved
   Myth #1: It is easy to get a small business grant   Myth #2: Grants are available for any type of             busines...
   Recipients are typically nonprofit organizations   Grants are for industry-specific and R & D    purposes   Grant so...
   Available in print or on the Internet   Updated twice a year   Deals with all types of federal government    assista...
   SBIR & STTR                     SBIR Only    ◦ Dept. of Defense               ◦ Dept. of Agriculture    ◦ Health and ...
   Grants for science and energy related research    projects   Agency solicitation notices   Competitive proposals req...
   Technology Grants    ◦ Technology Transfer Assistance Grants (TTAG)    ◦ Technology Development Program (TDP)    ◦ See...
Better Beginnings Incentive Grants Division of Child Care and Early Childhood  Education  ◦ Staffing and retention expens...
IDA (Individual Deposit Account) Program Matches savings 3:1 to maximum of $2,000-  $4,000   Opening or expanding small ...
IDA (Individual Deposit Account) Program   Works with IDA Programs throughout Arkansas   Terms are same as CAPD’s   For...
The Foundation Center    ◦ The Foundation Directory      Online database at http://foundationcenter.org    ◦ National Dire...
Conventional Financing© ASBTDC 2012 All Rights Reserved
   Sack of money   Low mark-up   Deduct interest   Payback over time in deflated dollars                    What a Deal!
   Executive Summary   Financing Proposal   Company Description   Industry Analysis   Products and Services   Market...
   Invested capital   Trade financing    ◦ Payables and receivables   Short-Term financing    ◦ Bank lines of credit   ...
   The 5 Cs of Credit      The 12 Magic Numbers    ◦ Conditions             ◦ Liquidity    ◦ Character              ◦ Pr...
Government Backed Programs© ASBTDC 2012 All Rights Reserved
   What is an SBA Loan?   Credit Requirements   Terms   Interest Rate              www.sba.gov                        ...
   Takes forever to get money   Requires a “ton” of paperwork   Offers low interest rates   Provides grants
   Real estate investments   Other speculative activities   Lending activities   Not-for-profit ventures   Pyramid sa...
   Businesses must meet SBA size standards to    qualify (maximums):    ◦ Manufacturing: 500 to 1,500 employees    ◦ Whol...
   Borrowers on probation or parole   Borrowers with serious criminal histories   Borrowers that are 90 days or more   ...
   Finance floor plan needs (specific program for that)   Purchase real estate for investment purposes   Disbursements ...
   SBA loan proceeds can be used for most    business purposes including real    estate, buildings, equipment, inventory,...
   7(a) Loan Guaranty Program   SBA Express   Patriot Express   504 Loan Program   MicroLoans
   SBA guarantees (insures) the loan, reducing    the risk to the lender.   Borrower must secure a participating lender....
   25 years Real Estate   10 years Equipment    7 years Inventory, Accounts Receivable,       Working Capital
   Fixed or variable   Maximum: Prime + 2.75% for terms of 7yrs or    more
   2% for loans of $150,000 or less   3% for loans over $150,000 to $700,000   3.5% for loans over $700,000   Guarante...
   Lender must be PLP   Maximum loan $350,000   Lender applies for 50% loan guaranty   Lender handles approval and iss...
   Loans up to $500,000 by lender approved for SBA    Express (PLP)   Lender applies for 85% guaranty for loans of    $1...
   Long-term, fixed rate financing for    acquisition and/or renovation of capital    assets including land, buildings an...
   Temporary program allowing for refinance of    existing real estate debt   Loan must have maturity or balloon before ...
   Draft a business plan   Prepare loan proposal (SBTDC assistance)   Present loan proposal to lender   Lender reviews...
   Repayment Ability   Management Ability   Equity Position   Collateral
   SBA is a Repayment Lender, meaning their    primary concern is the ability to repay the    loan from business operatio...
   Historical financial statements and/or    projections must demonstrate that cash flow    is sufficient to service prop...
   Start-up Expenses   Accounts Receivable   Contingencies & Emergencies    ◦ Rule of Thumb: 3 months fixed expenses
   Application must demonstrate that, through    education or experience, borrower is capable    of successfully operatin...
   SBA does not approve 100% funding requests.   Net worth of existing businesses and/or    borrower injection must esta...
   SBA will not decline a loan ONLY due to a lack    of collateral.   To protect taxpayer dollars, loans must be    secu...
   TERMS   TERMS   TERMS
   No pre-payment penalty on loans with    maturity of less than 15 years   No balloons   Patient partners   Relaxed c...
   U.S. Department of Agriculture    ◦   Business & Industry Guaranteed Loans    ◦   Rural Economic Development Loans    ...
   Administered through Arkansas Department of    Rural Services   Funded by U.S. Department of Commerce   8 districts ...
Economic Development Programs◦ Beginning Farmer Loan Program◦ Capital Access Program◦ Disadvantaged Business Enterprise Pr...
Alternative Lending© ASBTDC 2012 All Rights Reserved
• Boefly   • www.boefly.com• Southern Bancorp Capital Partners   • www.banksouthern.com• Arkansas Economic Development Com...
•           Financing Ozarks Rural Growth & Economy            (FORGE        •    www.forgeonline.com•           Hope Ente...
Funding areas   Medical   Dental   Veterinary   OptometryLenders   Newtek Financial Services (SBA Preferred Lender) ...
   Alt Consulting   Arkansas Baptist College   Kiva   Accion   Opportunity Fund   Sam’s Club                        ...
   SBA SDB Certification   Disaster Loans
   National certification program to certify    socially and economically disadvantaged    businesses to help secure gove...
   Physical disaster loans   Economic injury disaster loans   SBA Contact: Fort Worth Disaster Office    800.366.6303
   Draft business plan   Complete pre-application loan worksheets   Gather requested information   Schedule appointmen...
ASU Delta Center for Economic Development          319 University Loop West            Jonesboro, AR 72401Or P.O. Box 2650...
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Business Financing Options Workshop Batesville July

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Powerpoint presented at the Batesville Area chamber of Commerce July 19th for Business Financing Options workshop by the ASU Small Business and Technology Development Center

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  • Starting or operating a firm is difficult. Among your many tasks, you have to beat the competition and turn a profit or you will soon be among that 80 percent of firms that don’t make it.Making a profitHow many hats can you wear?
  • Flow chart
  • I think I’m making a profit so why don’t I have any cash?Sales 10 (Cash collected 0)Exp 9Profit 1
  • Administered through CADC’s Individual Development Account and Money Management training programCovers 10 classes ranging from banking and credit to saving and investing.IDAs are matched savings accounts. For every dollar the participant saves, CADC matches it through grant funds with $3.Approved uses: open or expand a small business, help pay for college expenses, purchase a home, or make home repairs.Participants can receive up to $2,000 per individual or $4,000 per family.Certain personal income criteria apply.
  • CADC is one of several IDA program administrators in the state. For a full list, visit the Southern Good Faith Fund’s website at www.southerngff.org
  • SBA goal is to provide a response in 14 working daysPaperwork is streamlined. Same as a bank requires.No low interest loans, but caps interest rates. It is not a government loan, it is a bank loan. Several years ago, minority low-interest loans existed, but no longer. Maximum interest rate is 2.75% over prime (WSJ). Rates are variable, but no balloon features.No free money from the government! Unless SBIR: Small business innovative research grant provides free funding for pre-commercialization market testing.
  • No Flipping houses, no rentals.No wildcatting for oil and dealing in commodities futures. No coins and stamps. No gambling.Must be for-profit venture (no 501c3 status).No pyramids: Avon, Mary Kay, Amway (where focus is on signing up and recruiting others).No illegal stuff, obviously.Christian bookstore ok if no classes or indoctrination on site.No brothels, adult bookstores, etc.Fitness Centers, such as Curves for Women, must have male restroom and open membership.
  • Catch up on federal loan before applying. If you defaulted on a federal loan, don’t waste your time. Cannot have tax liens.Bankruptcy with restitution is ok.If child support is delinquent, forget it.
  • Cannot buy into a business (part ownership)No speculative businesses (i.e. flipping houses, mini storage)Cannot get your money back to put into your pocket.No payments for fiduciary accounts (not your money to begin with).Must be less than 30 days on payment or must go to another bank (no bank bailout).Cannot buy a piece of the business—all partners must sign the loan.
  • Borrower must secure the lender (not done by SBTDC).Typically commercial loans for less than $25,000 are courtesy loans.Bank can require 3rd party to co-sign loan, but SBA cannot.
  • SBA encourages longer terms but maturities are based on the ability to repay, purpose of loan proceeds, and useful life of the assets
  • Interest rates are negotiable between lender and borrower, subject to SBA maximumCan be fixed or variable or combinationBase rate is WSJ primeVariable rate can be adjusted monthly, quarterly, annually, or multiple years (Express can be daily)Balloon payments, demand and renewal features are not permitted
  • To offset costs to taxpayers, SBA charges a guaranty fee and servicing fee to lender (which is passed to borrower)Guaranty fee is a one-time fee due within 90 days of closing based on gross loan amount
  • Lender must be preferred lender (application/approval process).It is an instant loan with a 50% guaranty to lender.Application faxed to Sacramento which issues a guaranty #.In ASU territory: Liberty Bank,Simmons First Bank, 1st National Banking Company of Ash Flat, Bank of America, and Regions Bank Corporate.
  • Eligible: Veterans, service-disabled veterans, active duty service members, Reservists & National Guard Members, current spouses, widowed spouse of service member or veteran who dies during service or of a service-connected disability
  • Most borrowers only required to inject 10% equity.Loans are provided through CDC.
  • Identify how much money needed, what it will be used for, how to repay the loan.SBTDC does not make lending decisions.Lender can make loan in-house, forward to SBA, or decline application.
  • Repayment: Must prove you can repay the loan out of the profits of the business. Usually easier to demonstrate for existing rather than start-up business. Develop projections on month by month basis for 24 month period. Utilize resources: RMA, Consumer expenditure surveys.Management: Lender wants to see some experience in the industry.Equity: No 100% loans. Borrower must invest something. Rule of thumb is 20% of total project costs. But % is set by lender and must be reasonable based on risk of the business. Ex: restaurants & clothing stores = 20%; professional offices = 15%Existing business must have + position on balance sheet. Source of equity must be legal.Collateral: Must pledge all business collateral, if personal collateral available, bank must take it. If you own < 20% of home, SBA won’t mess with it.
  • Debt must be repaid with cash.Must have cash at the right place a the right time in the right amount.Pitfalls: Potential accounts receivables must be factored in (affects working capital requirements). Depreciation on most assets is a real expense.
  • Must know start-up expenses (operating capital).When projecting, must do homework in order to make educated guesses.Get actual expense figures.Working capital must be liquid in order to pay liabilities/obligations due within one year.
  • Lender and SBA will want to see some experience.
  • Start-up: Reasonable equity injection considered to be: 20% retail and service 15% professional 15% buyout if cash flow is strongExisting: Businesses must have positive equity position on Balance Sheet which can be used to leverage expansion loan.
  • Longer repayment terms = more cash in business (refer to schedule on the board). Translates into lower debt service and improved cash flow
  • Lowered debt service improves cash flow (increase years for repayment).Patient partners: banking holiday for unexpected events.
  • Microloans: First opportunity or last resortSBA has new microlending initiative and works through local lending intermediaries: local partners include alt.consulting, FORGE, and Arkansas Baptist College. Borrego Springs Bank in California is an active lending partner that services our area.Kiva.org works through two U.S. Field partners ACCION USA and Opportunity Fund. Features include somewhat higher interest rates, less stringent lending criteria, relatively short repayment terms.Sam’s Club $5,000-$25,000, 10-year term or revolving line of credit. In addition, Sam’s is an SBA microlending partner.
  • Business Financing Options Workshop Batesville July

    1. 1. Business Financing BasicsASU 052112 © ASBTDC 2012 All Rights Reserved
    2. 2.  Training ◦ Classes for new ventures and existing businesses ◦ Special conferences Research ◦ Sample business plans/Industry start-up guides Consulting ◦ One-on-one advisory services Web Site: http://asbtdc.ualr.edu ◦ BizFact documents and on-line consulting tools ◦ E-news service: Biz Bytes & Tech Track © ASBTDC 2012 All Rights Reserved
    3. 3.  Know what financial information is vital to operating your business Know exactly where you stand at all times Understand the difference between profit and cash flow How does my banker interpret my financial statements and my credit report How your credit report can affect your ability to operate your business © ASBTDC 2012 All Rights Reserved
    4. 4.  Foundation Documents Transaction Journals General Ledger Trail Balance Adjusted Trial Balance Financial Statements ◦ Income Statement ◦ Statement of Owners’ Equity ◦ Balance Sheet © ASBTDC 2012 All Rights Reserved
    5. 5. Understand the difference between profit and cash flow? Never, never, ever, ever, run out of cash! Cash flow and profit are different. Cash flow is the money that flows in and out of the firm from operations, financing activities, and investing activities. Net income is what remains from sales revenue after all the firms expenses are subtracted. Cash flow is actually more important for the small business owner to focus on than profit. Companies can make a profit but still have a negative cash flow and not be able to pay their bills. Not recognizing this difference is one of the biggest mistakes a small business owner can make. © ASBTDC 2012 All Rights Reserved
    6. 6.  YOUR CREDIT REPORT IS IMPORTANT! Your credit record affects all financial transactions Review your credit report and know your credit score How is my credit score calculated? The banker relies on your credit history © ASBTDC 2012 All Rights Reserved
    7. 7.  Your credit report is a compilation of your payment habits and usage of credit over time Monitor it for suspicious activity i.e. identity theft Get a free copy of your report once every 12 months from the major credit-reporting agencies:  Equifax  TransUnion  Experian AnnualCreditReport.com Federal Trade Commission (ftc.gov/credit) © ASBTDC 2012 All Rights Reserved
    8. 8.  Private investment Grants Conventional financing Government-backed programs Alternative lending programs © ASBTDC 2012 All Rights Reserved
    9. 9. Private Investment© ASBTDC 2012 All Rights Reserved
    10. 10.  Owners Equity is the contribution of capital and other assets Angel investors provide capital for a percentage of ownership Venture capitalists provide capital and exercise control over company operations © ASBTDC 2012 All Rights Reserved
    11. 11.  Savings Accounts Relatives or Friends Credit Cards Second Mortgage Retirement Plans
    12. 12. Grant Resources© ASBTDC 2012 All Rights Reserved
    13. 13.  Myth #1: It is easy to get a small business grant Myth #2: Grants are available for any type of business Myth #3: There are special government grants for women and minorities to start businesses Myth #4: The government tries to keep grants a secret © ASBTDC 2012 All Rights Reserved
    14. 14.  Recipients are typically nonprofit organizations Grants are for industry-specific and R & D purposes Grant sources are plentiful but locating them is difficult Obtaining grants is highly competitive The ASBTDC and the SBA do not provide grants © ASBTDC 2012 All Rights Reserved
    15. 15.  Available in print or on the Internet Updated twice a year Deals with all types of federal government assistance www.cfda.gov © ASBTDC 2012 All Rights Reserved
    16. 16.  SBIR & STTR  SBIR Only ◦ Dept. of Defense ◦ Dept. of Agriculture ◦ Health and Human ◦ Environmental Protection Services (National Inst. Agency Of Health; Centers for ◦ Dept. of Transportation Disease Control; FDA) ◦ Dept. of Education ◦ National Science ◦ Dept. of Homeland Foundation Security ◦ Dept. of Energy ◦ Dept. of Commerce ◦ NASA (NOAA, NIST) © ASBTDC 2012 All Rights Reserved
    17. 17.  Grants for science and energy related research projects Agency solicitation notices Competitive proposals required http://science.doe.gov/grants/index.asp © ASBTDC 2012 All Rights Reserved
    18. 18.  Technology Grants ◦ Technology Transfer Assistance Grants (TTAG) ◦ Technology Development Program (TDP) ◦ Seed Capital Investment Program (SCIP) Research & Development Tax Credit Program ◦ Allows credits against a taxpayers Arkansas state income tax for making certain qualified research expenditures www.asta.arkansas.gov © ASBTDC 2012 All Rights Reserved
    19. 19. Better Beginnings Incentive Grants Division of Child Care and Early Childhood Education ◦ Staffing and retention expenses ◦ Training materials ◦ Management software ◦ CPR/American Red Cross training CDA Scholarships http://www.arbetterbeginnings.com © ASBTDC 2012 All Rights Reserved
    20. 20. IDA (Individual Deposit Account) Program Matches savings 3:1 to maximum of $2,000- $4,000 Opening or expanding small business one of three approved uses Applicants must reside in service area and meet income guidelines http://www.cadc.com © ASBTDC 2012 All Rights Reserved
    21. 21. IDA (Individual Deposit Account) Program Works with IDA Programs throughout Arkansas Terms are same as CAPD’s For a list of program offices, contact http://www.southerngff.org © ASBTDC 2012 All Rights Reserved
    22. 22. The Foundation Center ◦ The Foundation Directory Online database at http://foundationcenter.org ◦ National Directory of Corporate Giving Investigate the Foundation ◦ Their Purpose ◦ Types of Awards Typically Made ◦ Eligibility Examine Application Requirements © ASBTDC 2012 All Rights Reserved
    23. 23. Conventional Financing© ASBTDC 2012 All Rights Reserved
    24. 24.  Sack of money Low mark-up Deduct interest Payback over time in deflated dollars What a Deal!
    25. 25.  Executive Summary Financing Proposal Company Description Industry Analysis Products and Services Market Analysis Organization and Management Operational Plan Financials © ASBTDC 2012 All Rights Reserved
    26. 26.  Invested capital Trade financing ◦ Payables and receivables Short-Term financing ◦ Bank lines of credit ◦ Credit cards ◦ Factoring Long-term loans and leases ◦ Property, plant, and equipment © ASBTDC 2012 All Rights Reserved
    27. 27.  The 5 Cs of Credit  The 12 Magic Numbers ◦ Conditions ◦ Liquidity ◦ Character ◦ Profitability ◦ Capacity ◦ Efficiency ◦ Capital ◦ Leverage ◦ Collateral © ASBTDC 2012 All Rights Reserved
    28. 28. Government Backed Programs© ASBTDC 2012 All Rights Reserved
    29. 29.  What is an SBA Loan? Credit Requirements Terms Interest Rate www.sba.gov © ASBTDC 2012 All Rights Reserved
    30. 30.  Takes forever to get money Requires a “ton” of paperwork Offers low interest rates Provides grants
    31. 31.  Real estate investments Other speculative activities Lending activities Not-for-profit ventures Pyramid sales or distribution businesses Illegal activities Religious indoctrination Activities of a sexual nature Businesses not open to the general public
    32. 32.  Businesses must meet SBA size standards to qualify (maximums): ◦ Manufacturing: 500 to 1,500 employees ◦ Wholesaling: 100 employees ◦ Services: $7 to $35.5 million in average annual receipts ◦ Retailing: $7 to $35.5 million average annual receipts ◦ General Construction: $7 to $33.5 million average annual receipts http://www.sba.gov/content/summary-size- standards-industry
    33. 33.  Borrowers on probation or parole Borrowers with serious criminal histories Borrowers that are 90 days or more delinquent on other federal government guaranteed loans (FHA, VA, USDA, HUD, student loans, etc.) Borrowers of poor character
    34. 34.  Finance floor plan needs (specific program for that) Purchase real estate for investment purposes Disbursements to owners or principals Pay delinquent trust accounts (withholding or sales tax) Refinance delinquent debt within a bank Acquisition of less than 100% of a business
    35. 35.  SBA loan proceeds can be used for most business purposes including real estate, buildings, equipment, inventory, worki ng capital, and leasehold improvements
    36. 36.  7(a) Loan Guaranty Program SBA Express Patriot Express 504 Loan Program MicroLoans
    37. 37.  SBA guarantees (insures) the loan, reducing the risk to the lender. Borrower must secure a participating lender. No minimum loan size. Maximum loan size is $5 million.
    38. 38.  25 years Real Estate 10 years Equipment 7 years Inventory, Accounts Receivable, Working Capital
    39. 39.  Fixed or variable Maximum: Prime + 2.75% for terms of 7yrs or more
    40. 40.  2% for loans of $150,000 or less 3% for loans over $150,000 to $700,000 3.5% for loans over $700,000 Guaranteed portion over $1,000,000: $35,000 + 3.75% on guaranteed portion over $1 million
    41. 41.  Lender must be PLP Maximum loan $350,000 Lender applies for 50% loan guaranty Lender handles approval and issuance
    42. 42.  Loans up to $500,000 by lender approved for SBA Express (PLP) Lender applies for 85% guaranty for loans of $150,000 or less Lender applies for 75% guaranty for loans over $150,000 up to $500,000 Interest rates same as 7(a) loans Lender handles approval and issuance
    43. 43.  Long-term, fixed rate financing for acquisition and/or renovation of capital assets including land, buildings and equipment (no working capital) Loan backed by a debenture sold to investors Maximum debenture: ◦ $1.5 million for business that create certain number of jobs or improve the economy of the locality ◦ $2 million for businesses meeting a specific public policy goal ◦ $4 million for manufacturers
    44. 44.  Temporary program allowing for refinance of existing real estate debt Loan must have maturity or balloon before Dec. 31, 2012 Borrower must work with SBA approved CDC and third party lender
    45. 45.  Draft a business plan Prepare loan proposal (SBTDC assistance) Present loan proposal to lender Lender reviews and forwards applications to SBA Processing Center (Hazard or Citrus Heights) for consideration
    46. 46.  Repayment Ability Management Ability Equity Position Collateral
    47. 47.  SBA is a Repayment Lender, meaning their primary concern is the ability to repay the loan from business operations. ◦ Cash Flow ◦ Working Capital
    48. 48.  Historical financial statements and/or projections must demonstrate that cash flow is sufficient to service proposed level of debt. Projections will be compared to industry standards and demographics will be considered.
    49. 49.  Start-up Expenses Accounts Receivable Contingencies & Emergencies ◦ Rule of Thumb: 3 months fixed expenses
    50. 50.  Application must demonstrate that, through education or experience, borrower is capable of successfully operating the business or has hired competent management.
    51. 51.  SBA does not approve 100% funding requests. Net worth of existing businesses and/or borrower injection must establish a reasonable equity position, reasonable being determined by the risk.
    52. 52.  SBA will not decline a loan ONLY due to a lack of collateral. To protect taxpayer dollars, loans must be secured as fully as possible.
    53. 53.  TERMS TERMS TERMS
    54. 54.  No pre-payment penalty on loans with maturity of less than 15 years No balloons Patient partners Relaxed credit requirements Flexible loan terms
    55. 55.  U.S. Department of Agriculture ◦ Business & Industry Guaranteed Loans ◦ Rural Economic Development Loans ◦ Farm Loans ◦ Export Financing http://www.rurdev.usga.gov http://www.usda.gov © ASBTDC 2012 All Rights Reserved
    56. 56.  Administered through Arkansas Department of Rural Services Funded by U.S. Department of Commerce 8 districts in Arkansas Revolving loan funds focus on job creation 1 job for each $15,000 loaned Equity requirement is 10% Emphasis on businesses owned by minorities and women www.arkansas.gov/drs/projects.html © ASBTDC 2012 All Rights Reserved
    57. 57. Economic Development Programs◦ Beginning Farmer Loan Program◦ Capital Access Program◦ Disadvantaged Business Enterprise Program◦ Farm Mediation Program◦ Industrial Development Bond Guaranty Program◦ Tourism Development Loan Program www.state.ar.us/adfa/ © ASBTDC 2012 All Rights Reserved
    58. 58. Alternative Lending© ASBTDC 2012 All Rights Reserved
    59. 59. • Boefly • www.boefly.com• Southern Bancorp Capital Partners • www.banksouthern.com• Arkansas Economic Development Commission • www.arkansasedc.com• TAB Bank-Transportation and equipment financing • https://www.tabbank.com/business.jsp © ASBTDC 2012 All Rights Reserved
    60. 60. • Financing Ozarks Rural Growth & Economy (FORGE • www.forgeonline.com• Hope Enterprise Corporation • www.hope-ec.org • BORSA plans-utilizing retirement funds to fund a new business venture or purchase • Individual Development Accounts-starting or expanding a business • http://www.southerngoodfaithfund.org © ASBTDC 2012 All Rights Reserved
    61. 61. Funding areas Medical Dental Veterinary OptometryLenders Newtek Financial Services (SBA Preferred Lender) Bank of America Small Practice Solutions Wells Fargo Practice Finance © ASBTDC 2012 All Rights Reserved
    62. 62.  Alt Consulting Arkansas Baptist College Kiva Accion Opportunity Fund Sam’s Club © ASBTDC 2012 All Rights Reserved
    63. 63.  SBA SDB Certification Disaster Loans
    64. 64.  National certification program to certify socially and economically disadvantaged businesses to help secure government contracts for goods and services. Recognized by state, federal, and local governments and prime contractors SBA Contact: Wanda May 501.324.7379
    65. 65.  Physical disaster loans Economic injury disaster loans SBA Contact: Fort Worth Disaster Office 800.366.6303
    66. 66.  Draft business plan Complete pre-application loan worksheets Gather requested information Schedule appointment (870.972.3517) ◦ Robert Bahn, Business Consultant ◦ Laura Miller, Lead Business Consultant ◦ Herb Lawrence, Center Director
    67. 67. ASU Delta Center for Economic Development 319 University Loop West Jonesboro, AR 72401Or P.O. Box 2650 State University, AR 72467 (870) 972-3517 http://www.astate.edu/a/business/sbtdc/ Blog: http://www.asbtdc-asu.com http://www.Facebook.com/asu.sbtdc http://www.twitter.com/asbtdc_asu Email us: asusbtdc@astate.edu © ASBTDC 2012 All Rights Reserved
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