Wendy Baumann, Changing the Mindset and Strengthening the Capacity of Financial Institutions


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Wendy Baumann, Changing the Mindset and Strengthening the Capacity of Financial Institutions

  1. 1. Changing the Mindset- Financial Institutions and Effective PartnershipsWendy K. Baumann, President/ CVO
  2. 2. Wisconsin Women’s BusinessInitiative Corporation (WWBIC) Statewide economic development organization 501(c) 3; founded 1987 Offices in Milwaukee, Madison and Racine/Kenosha Local, Regional, National and International Partnerships Emphasis: women, low-wealth individuals, people of color
  3. 3. MissionQuality Business EducationAccess to CapitalEconomic Self-Sufficiency We assist men and women!
  4. 4. WWBIC’S Primary Services Business Education & Classes Creative Financing Solutions One-on-One Business Assistance Networking Opportunities Business Incubation Business Laboratory via CWC Make Your Money Talk Financial Awareness & Individual Development Accounts (IDA’s) Business Consulting Services
  5. 5. WWBIC’S Business Education425+ Workshops and 3,000 unduplicated clients annuallyMilwaukee, Madison, Green Bay, Fox Valley, Beloit,Janesville, Racine, Kenosha areas & otherEntrepreneurship, business planning, marketing, financing,bookkeepingExperiential, hands-on, guest expertsSocial Business Venture-Coffee With A Conscience
  6. 6. WWBIC’S Creative Financing Solutions Certified CDFI –US Dept. of Treasury (Community Development Financial Institution) Direct Lending Programs: ¤ Microloans ¤ Participation Loans with Bankers Loan Packaging Services: ¤ SBA Programs ¤ Business Financing Seminars ¤ “Can we Talk?” Sessions
  7. 7. Access to CapitalWe focus our assistance on:Business owners that can’t borrowfrom a traditional financial institutionStart-Start-up businesses; and those set for growthGap financing for bankable customers
  8. 8. Benefits to the Bank Retention of the customerAbility to cross-sell bank services cross-Referral of bankable customers from WWBICGiving your customer an alternativeBanker credibilityCRA
  9. 9. Real Life ExamplesGap Financing ¤ Bank does building and/or equipment financing; WWBIC provides working capitalParticipations with Banks ¤ Share the risk ¤ Allow customer to access classes and Business Education and AssistanceTurn Downs ¤ Don’t say “NO;” say, “WWBIC!”
  10. 10. Diversifying your loan capital sources• A lot of eggs in one basket?• Maybe better to have a lot of baskets with a lot of eggs!!!
  11. 11. Diversifying your loan capital sources• Changing world and having all sectors at the table - Government and Public Investors - Banks and Corporate Investors
  12. 12. Diversifying your loan capital sources - Government and Public Investors - Banks and Corporate Investors - Individual Investors - Faith-based Investors
  13. 13. Diversifying your loan capital sources• Leveraged support and donated support - Funds tied to program assistance - Funds tied to grant support - Started as an investor and also become a contributor
  14. 14. Diversifying your loan capital sources
  15. 15. Diversifying your loan capital sources• A plan… - Reason why you WANT to diversify your loan capital sources - Tell the story (past, present, FUTURE!!!) - Share the numbers (financials, ratios, investment case) - A prospectus of sorts…!
  16. 16. Diversifying your loan capital sources• The DELIVERY - In person via a VIP Tour or meeting - Inquiry and phone conversations - Mailed proposal - Email or online proposal - FOLLOW UP contact!
  17. 17. Diversifying your loan capital sources• FOLLOW UP - Compliance and Reporting - Annual (Financial Audit) - Quarterly - Consistent and constant communication - Constant Contact - Media - Industry news - ??
  18. 18. Diversifying your loan capital sources• ASK again and ASK for referrals of/to other investors - ASK again for another investment or more - ASK for contribution support - ASK for suggestions on who else may have similar interests - Really banks will suggest other banks and contacts - Faith based investors the same - And individuals and good people know other good people
  19. 19. Diversifying your loan capital sources• THANKS AND THANKS AND THANKS! - appreciation - gratitude - acknowledgement - solid investment - you will not embarrass the administrationAEO 2009
  20. 20. Wendy K. Baumann President/ CVOThe Wisconsin Women’s Business Initiative Corporation National Member Association of Enterprise Opportunity Opportunity Finance Network The Association of Women’s Business Centers SBA National Advisory Board Office Depot Women’s Advisory Board National Business Incubation Association Consumer Federation of America – America Saves wendy.baumann@wwbic.com
  21. 21. How to Contact WWBICMilwaukee: 414-263-54502745 N. Dr. Martin Luther King Jr. DriveMilwaukee, Wisconsin 53212Madison: 608-257-5450Racine/Kenosha: 262-654-1234 Ext. 114Website: www.wwbic.comWWBIC Affiliations:¤ Certified Development Financial Institution (CDFI)¤ U.S. Small Business Administration Microlender¤ U.S. Small Business Administration Women’s Business Center