Financing Tools and Resources for Businesses in NC. Posted 4.16.20 Please note that information may change on a daily basis due to the Covid19 pandemic.
2. WELCOME
• TAKE NOTES
• ENJOY!
YOUR INSTRUCTOR
CHISA PENNIX-BROWN, MBA
• CEO OF LADY BIZNESS
• NC’S #1 SMALL BUSINESS
FACILITATOR
SPONSORED BY
SMALL BUSINESS CENTER NETWORK
HI
3. FINANCING YOUR SMALL BUSINESS
PERSONAL
• CREDIT CARD
• LIFE INSURANCE
• 401K & IRA’S
• SECOND MORTGAGE
• FRIENDS & RELATIVES
• CROWDFUNDING
BUSINESS
• TERM LOANS
INSTALLMENT WITH EQUAL PAYMENTS
• LINES OF CREDIT
• SHORT-TERM & SEASONAL
• GOVERNMENT ASSISTED
• SBA
• STATE & LOCAL AGENCIES
• Crowd Funding
5. 1. CHOOSING A BANKER
IMPORTANCE TO YOU
• CAPITAL
• COLLATERAL
• CAPACITY TO RE-PAY
• CONDITIONS
• CHARACTER
• SIZE OF THE BANK
• FAMILIARITY WITH YOUR “TYPE” OF
BUSINESS
• HOW THEY REACT TO YOUR
PROBLEMS
• ARE THEY HELPFUL
• IS THERE GOOD CHEMISTRY?
• ASK QUESTIONS
IMPORTANCE TO YOU
6. 2. SBA LOANS
WHAT CAN THE LOANS BE USED FOR?
INVENTORY
EQUIPMENT
BUILDING
• PATRIOT EXPRESS LOAN W. MAX $500K
• SBA EXPRESS LOAN W. MAX $350K
• COMMUNITY EXPRESS LOAN W. MAX
$250K
TURNAROUND TIME FOR APPROVAL IS 36 HOURS.
YOU STILL NEED TO WORK W A COMMERCIAL BANK
& THE SBA FOR THESE PROGRAMS. THE SBA
GUARANTEES
THE LOAN.
EXPANSION
EMPLOYEE PAY
REGISTER AT
SBA.GOV/LENDERMATCH
10. 4. IN STATE RESOURCES
Piedmont Business Capital
1451 S. Elm Eugene Street
Greensboro, NC 27406
Tel: (336) 256-9350
PiedmontBusinessCapital.org
Carolina Small Business Development
Fund
3128 Highwoods Blvd.
Raleigh, NC 27604
(919) 803-1437
CarolinaSmallBusiness.org
Self Help Credit Union
www.Self-Help.Org
Women’s Business Center
114 W Parrish St, Durham,
NC 27701
Tel: (919) 956-8889
Women’s Business Center
230 Hay Street
Fayetteville, NC 28301
Tel: (866) 323-3377
Mountain Biz Works
153 S Lexington Ave,
Asheville, NC 28801
Tel: (828) 253-2834
Women’s Business Center of
NC
5800 Farringdon Place
Raleigh, NC 27609
Tel: (919) 956-8889
11. 5. COVID 19 RESOURCES
LADYBIZNESS.COM/COVID19
• CITY OF GREENSBORO
• PIEDMONTBUSINESSCAPITAL.ORG
• FACEBOOK
• COVIDCAP.COM
SBA COVID LOANS
If you already applied
they will still process
your application in the
order it was received.
12. 5. COVID 19 RESOURCES
PPP loan has funds reserved or not. Difference
between an
SBA application number &
SBA loan number.
When an SBA loan number is generated, then
the loan funds have been reserved for that
loan/applicant.
Disbursement is not immediate and may take
some days.
An application number does not indicate funds
have been reserved, only the SBA loan number
indicates that.
SBA COVID LOANS
If you have any questions about your PPP loan process, I would
suggest reaching out to the lender.
Also, if you are wondering about the status of your EIDL loan, I
would suggest calling the EIDL/Disaster customer service at 1-
800-659-2955
(TTY: 1-800-877-8339) or
e-mail disastercustomerservice@sba.gov
13. 5. COVID 19 BANKS FOR PPP
RADIUS PAYPAL
BANK INTUIT
READY CAPITAL SQUARE CAPITAL
KABBAGE LENDIO
FUNDERA CREDIBLY
BANKS THAT ARE APPROVED TO PROCESS THE SBA LOANS
14. 6. PERSONAL LOAN DEFERRMENTS
• BMO Harris
• Citi
• Discover
• Fifth Third Bank
• HSBC
• Old Point National Bank
• Marcus by Goldman Sachs
• PNC Bank
• Regions
• TD Bank
• Truist Bank (previously BB&T & SunTrust)
• US Bank
• Webster Bank
• Wells Fargo
BANKS THAT ARE APPROVED TO PROCESS THE SBA LOANS
Deferments Range from
30-90 days depending on
your lender.
Contact them individually
& ASAP!
15. THANK YOU!
• FUTURE WORKSHOPS CAN BE
FOUND AT NCSBC.NET
• PLEASE LEAVE A 5 STAR
REVIEW ON GOOGLE AND/OR
FACEBOOK
• FOLLOW ME AT
@LADYBIZNESS
Editor's Notes
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