The San Diego & Imperial Small Business Development Center Network Is Connecting Small Business Owners with Capital On April 21
Ninety percent of San Diego County businesses are considered small according to the Small Business Administration’s (SBA) guidelines. One of the biggest hurdles for starting or expanding a small business is raising capital. Banks usually do not lend start-ups capital. Businesses have to be in operation two years to work with a traditional lender.
Credit history, collateral, fixed rates, cash on hand, SBA loan, profit and loss statements, and business plan are all terms that are relative to a small business owner in search of capital to make their dream of owning or expanding a business a reality. And there are options to using a traditional lender as well. There are organizations that offer financing on receivables and others that offer loans at a higher interest rate. It can become over whelming to an entrepreneur in search of funding. What is the best option for them?
Qualifying for a small-business loan is easier when you’re prepared. Each bank has their own guidelines for lending and applicants should be familiar with these. Knowing whether you meet its criteria before you apply will save time and frustration.
On April 21, 2017 the San Diego & Imperial Valley Small Business Development Center (SBDC) Network presents “The Connecting with Capitol Expo” sponsored by the City of Santee. Small business owners will find out from the experts what it takes to raise capital from traditional and non-traditional lenders and where to find it all in one location. There will be a presentation on how to obtain and keep good credit so banks are offering money at a low interest rate. Attendees will also learn about loan guarantee programs through California GO-Bizand the SBA. These programs can help a small business secure a loan when they don’t qualify.
“The Connecting with Capital Expo” is traveling throughout San Diego County to assist small business owners in raising capital to expand their companies and create economic impact for the region including creating jobs and revenue. The San Diego and Imperial SBDC network provides these events, on-going training workshops, as well as one-on-one business advising to assist small businesses in obtaining capital. The one-on-one business advising and most workshop training are no cost to small business owners. “The SBDC consultants were invaluable in helping my company secure capital that enabled us to continue to bid on projects and create jobs for the San Diego Region. Because of the SBDC we now have the contract for Petco Park” states Randy Bates Owner, Land Scapes, Inc.
Small business owners will have the opportunity to meet one-on-one with lenders and resource partners including U.S. Bank, North and South San Diego SBDCs, Bank of Southern California, Banner Bank, Comerica Bank, Sun West Bank, Robertson Working Capital, Accion, VEDC, Small Business Finance, Umpqua Bank, Primary Funding Corporation, Pacific Western Bank, SBA, California GO-Biz, City of Santee, East County EDC, Santee and East County Chambers of Commerce, and Community Housing Works.
The Connecting with Capital Expo is on April 21, 2017 from 8:30am to Noon at the City of Santee, Civic Center, 10601 Magnolia Ave, Santee. There is no cost to attend. For more information about the Connecting with Capital Expo, workshops and one-on-one business advising visit www.SDIVSBDC.org.