1 / 21

Changing the Mindset- Financial Institutions and Effective Partnerships

Changing the Mindset- Financial Institutions and Effective Partnerships. Wendy K. Baumann, President/ CVO. Wisconsin Women’s Business Initiative Corporation (WWBIC). Statewide economic development organization 501(c) 3; founded 1987 Offices in Milwaukee, Madison and Racine/Kenosha

honorato-avery
Download Presentation

Changing the Mindset- Financial Institutions and Effective Partnerships

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Changing the Mindset- Financial Institutions and Effective Partnerships Wendy K. Baumann, President/ CVO

  2. Wisconsin Women’s Business Initiative 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. Mission Quality Business Education Access to Capital Economic Self-Sufficiency We assist men and women!

  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. WWBIC’S Business Education 425+ Workshops and 3,000 unduplicated clients annually Milwaukee, Madison, Green Bay, Fox Valley, Beloit, Janesville, Racine, Kenosha areas & other Entrepreneurship, business planning, marketing, financing, bookkeeping Experiential, hands-on, guest experts Social Business Venture-Coffee With A Conscience

  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. Access to Capital We focus our assistance on: Business owners that can’t borrow from a traditional financial institution Start-up businesses; and those set for growth Gap financing for bankable customers

  8. Benefits to the Bank Retention of the customer Ability to cross-sell bank services Referral of bankable customers from WWBIC Giving your customer an alternative Banker credibility CRA

  9. Real Life Examples Gap Financing • Bank does building and/or equipment financing; WWBIC provides working capital Participations with Banks • Share the risk • Allow customer to access classes and Business Education and Assistance Turn Downs • Don’t say “NO;” say, “WWBIC!”

  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. Diversifying your loan capital sources • Changing world and having all sectors at the table - Government and Public Investors - Banks and Corporate Investors

  12. Diversifying your loan capital sources -Government and Public Investors - Banks and Corporate Investors - Individual Investors - Faith-based Investors

  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. Diversifying your loan capital sources YOU need a plan!

  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. 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. Diversifying your loan capital sources • FOLLOW UP -Compliance and Reporting - Annual (Financial Audit) - Quarterly - Consistent and constant communication - Constant Contact - Media - Industry news - ??

  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. Diversifying your loan capital sources • THANKS AND THANKS AND THANKS! - appreciation - gratitude - acknowledgement - solid investment - you will not embarrass the administration

  20. President/ CVOThe Wisconsin Women’s Business Initiative CorporationNational Member Association of Enterprise Opportunity Opportunity Finance Network The Association of Women’s Business Centers SBA National Advisory BoardOffice Depot Women’s Advisory BoardNational Business Incubation AssociationConsumer Federation of America – America Saveswendy.baumann@wwbic.com Wendy K. Baumann Thank You!!

  21. How to Contact WWBIC Milwaukee: 414-263-5450 2745 N. Dr. Martin Luther King Jr. Drive Milwaukee, Wisconsin 53212 Madison: 608-257-5450 Racine/Kenosha: 262-654-1234 Ext. 114 Website: www.wwbic.com WWBIC Affiliations: • Certified Development Financial Institution (CDFI) • U.S. Small Business Administration Microlender • U.S. Small Business Administration Women’s Business Center

More Related