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Small Business Breakthroughs
November 30 @ 11:30 am - 12:30 pm
About this event
Join the Ohio Small Business Development Center in partnership with the Dublin Entrepreneurial Center for a podcast style Q&A designed to dig into the topics that are impacting your business and keeping you up at night.
Each edition of “Small Business Breakthroughs” will feature a timely discussion on trends, economic environment impacts in business, or business management tips and advice and more.
SPEAKER: Dwayne Lee, Telhio Credit Union
In this special pre-Capital Crash Course Small Business Breakthroughs we welcome Dwayne Lee. Dwayne has vast experience in working with small business owners and is an expert in small business lending. Dwayne will share his experience in helping small business owners prepare and apply for funding. He will also discuss how loan requests are processed and how you can best work with a banker.
What will be discussed:
- What is the difference between, banks, credit unions, community development lenders, and alternative lenders?
- When starting a business how should you determine how much start-up capital will be needed to get the business off the ground?
- What is a Sources and Uses of funds statement and how do you put it together?
- At what point in the process of starting a business should you begin talking to a banker?
- What is a line of credit and why is it important?
- For existing businesses looking for financing what information will be needed for the bank? How does this information change with loan requests for working capital, equipment, and real estate?
- What should the owner expect from the banker once the application is submitted?
- What should the owner do if the business is having difficulty in making the loan payments?
- And of course we will answer your questions.
MODERATOR: Michael Bowers, CBA, Director, Ohio SBDC at Columbus State
Michael Bowers is a business consultant and Director of the Ohio Small Business Development Center at Columbus State. Michael works closely with entrepreneurs and business owners assisting them in building their companies. He has a diverse business skill set with experience in banking, private equity, strategic planning, digital media and marketing.