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Small Business Development Center: Financing and Consulting Support in Milam County

The BV-SBDC provides training, consulting, and resources to help businesses succeed. Free one-on-one consulting, loan proposal support, and specialized assistance available. Learn about financing options and essential ingredients for a successful business.

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Small Business Development Center: Financing and Consulting Support in Milam County

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  1. Milam County Economic Development Summit Jim Pillans www.bvsbdc.orgjpillans@uh.edu

  2. Small Business Development Centers • Financing

  3. About the BV-SBDC The BV-SBDC was created to help Start-Up and Existing businesses be successful.

  4. Training Programs Low-cost workshops and seminars on a wide range of business topics

  5. HighlightedWorkshops / Seminars www.sbdc.uh.edu andwww.bvsbdc.org • Basic Start-Up Fundamentals • Basic Record Keeping • Advanced Financial Analysis • Sales Tax Compliance • QuickBooks • Marketing • Customer Service

  6. Consulting Services Free one-on-one consulting to help business owners with problems and opportunities they face.

  7. We assist new businesses and existing businesses with… • Feasibility of Project • Business Plan • Complete with financial projections • Loan proposal support • Prepare viable loan package • Identifying funding sources

  8. We also act as a sounding board for small businesses and provide follow-up assistance, again, at NO CHARGE!

  9. Bottom line to our client…. • Help determine the feasibility of the project • Help understand the loan process • Help find funding • Expedited loan process • Follow-up assistance ALL FOR FREE

  10. Specialized Assistance… Research Library • Containing entrepreneurial, economic and demographic materials • Industry Information • Limited Patent Search

  11. Procurement Technical Assistance Center (PTAC) A program to assist small businesses in winning federal, state and local government contracts. Local advising services available forth Thursday of each month at the BV SBDC office. www.uhptac.sbdcnetwork.net/ptac/default.asp

  12. The International Trade Center is one of the largest and the most successful trade assistance organization in the State of Texas. Established in 1992, it provides businesses with high-value trade consulting services, cutting-edge market research and innovative training programs that deliver results.

  13. SBDC Technology Commercialization Center • One-on-one trade advising • Market research • Innovative training • Global connections through SBDC Global

  14. SBDC Network Directory Access SBDC Network Online: www.sbdcnetwork.uh.edu

  15. Find Your Nearest Small Business Development Center http://americassbdc.org/

  16. Resources for Assistance • SCORE • Veterans Business Outreach Center • Women’s Business Center

  17. Types of Financing

  18. Determining Financial Requirement Start-up Costs + Working Capital = Funds Needed Lenders Will Usually Finance 50% to 80% of Total

  19. Where Does the Money Come From to Start a Typical Business? • Sources of Financing: • Personal Savings • Credit Cards • Family & Friends • Partners • Investors • Angel Investors • Venture Capitalists • Crowd Funding • Financial Institutions • Home Equity Loans

  20. Equity Financing • When an individual invests in your company and in return they will own a portion of your business • Partners • Private Investors • Angels • Venture Capitalists

  21. Debt Financing • When you use someone else’s money to fund your financial needs and the lender expects to get paid back over time • Home equity • Credit cards • Family & Friends • Financial institutions • Dealer financing

  22. Lenders Want to Know • How much do you need? • What will you do with it? • How much will you personally invest? • How and when will you pay it back? • What if something goes wrong?

  23. What Lenders Review

  24. What Lenders Review, cont.

  25. U.S. Small Business Administration • SBA loans reduce risks and enables easier access to capital • Longer term period to repay loan • Lender is guaranteed loan up to 90% • Because of the guarantee, it is less risk for the lender

  26. SBA LoansGuarantee Loan Program • Express Loan • Grants – SBIR/STTR • SBIC • Surety Bonds • 7-A • 504 • Export Loans • Micro Loans • Disaster Loans

  27. Fish where the fish are…

  28. Essential Ingredients of a Successful Business • A Good Product or Service • Customers • Management Skills • Money • Desire to succeed

  29. Three major Reasons Why Businesses Fail • Poor Planning • Poor Management • Undercapitalization Small Businesses don’t plan to fail, they just fail to planDon’t let this happen to you!

  30. Contact us: Brazos Valley SBDC 4001 East 29th Street, Suite 175 Bryan, 77802 979-260-5222 www.bvsbdc.org

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