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Will the bank require a business plan if I am seeking financing?
In general, if you have a start-up business (less than 3 years old), you will be expected to furnish a business plan so that that bank can have a clear understanding of your business and its plan of operations. The Women’s Business Development Center can assist you with writing your business plan through our various entrepreneurial workshops and one-on-one counseling. You may contact one of our general business counselors for more information.
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Can the Women’s Business Development Center help me to determine if I can Qualify for a Loan?
Yes. The Women’s Business Development Center can counsel you on what your business will need in order to qualify for a loan. We are available to review your financial information and provide feedback so that you are prepared to approach a lender. Please refer to our brochure on “Can I Qualify for a Loan” (Provide a link) and contact one of our business counselors for more information.
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With the current condition of the financial market, are banks still lending money to small businesses?
Although obtaining financing has become more of a challenge through more cautious reviews of loan packages, there are banks that are still lending to small businesses. You are encouraged to establish a relationship with that bank through opening personal and business deposit accounts or utilizing its cash management and wealth management products. Bank will value that relationship and will be more open to considering your request for financing. Contact a finance counselor for more information.
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Can the WBDC help me to find an accountant for my business?
Since inception, the Women’s Business Development Center has partnered with a number of professionals such as accountants, attorneys, insurance providers, lenders, marketing companies, contractors, etc. We are delighted to share those resources with your business. You may contact any of our staff for professional referrals.
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Are there other financing options besides bank financing ?
Absolutely. We can help you identify the appropriate financing for your business needs. In addition to bank financing this may include receivable financing, microloans, purchase order financing, angel investors, venture capitalists. We also sponsor a workshop from time-to-time on “Finding Ways to Raise Money from Family and Friends”. Our finance counselors are available to assist you in this venture.
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What information would I need to apply for bank financing?
Please refer to our Loan Package Checklist (Can we provide a link) for more information. Our finance counselors can assist you with packaging your loan and sending that request to a bank for approval. To get started, call to schedule an appointment today!
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