Financing Your Small Business
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Learn what you need to start and grow your small business via various finance options by NC's #1 Small Business Facilitator Chisa D. Pennix-Brown, MBA CEO of Lady Bizness.
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Financing Your Small Business
- 1. FINANCING YOUR SMALL BUSINESS CHISA PENNIX-BROWN, MBA NC’S #1 SMALL BUSINESS FACILITATOR
- 2. FINANCING YOUR SMALL BUSINESS PERSONAL • CREDIT CARD • LIFE INSURANCE • 401K & IRA’S • SECOND MORTGAGE • FRIENDS & RELATIVES BUSINESS • TERM LOANS INSTALLMENT WITH EQUAL PAYMENTS • LINES OF CREDIT • SHORT-TERM & SEASONAL • GOVERNMENT ASSISTED • SBA • STATE & LOCAL AGENCIES • Crowd Funding
- 3. GOALS CREATE YOUR BUDGET 1 REGISTER YOUR BUSINESS 2 OBTAIN AN EIN NUMBER 3 INCORPORATE YOUR BUSINESS 4 OPEN A BANK ACCOUNT 5
- 4. 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
- 5. 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
- 6. 3. ONLINE FUNDING OPTIONS • KIVA.ORG • ONDECK.COM • US.ACCION.ORG • TILTFORWARD.COM • KABBAGE.COM • FUNDINGCIRCLE.COM • FUNDATION.COM • SWIFTCAPITAL.COM • LENDINGCLUB.COM • FUNDBOX.COM • LENDIDO.COM • FUNDERA.COM • BOEFLY.COM CONSIDERATIONS WEBSITE BUSINESS EMAIL ADDRESS SOCIAL MEDIA PRESENCE EMAIL SUBSCRIBTION CROWD FUNDING • PHOTO • VIDEO • CONTENT
- 7. 4. IN STATE RESOURCES Greensboro Community Development Fund 1451 S. Elm Eugene Street Greensboro, NC 27406 Tel: (336) 256-9350 Carolina Small Business Development Fund 3128 Highwoods Blvd. Raleigh, NC 27604 (919) 803-1437 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
- 8. GIVE IT TO THE PEOPLE! Find Tips, Tools, and Business Information Daily at FB.com/LadyBiznessInc Leave a Recommendation at LinkedIn.com/in/LadyBizness Find this Presentation and upcoming events at LadyBizness.com.
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