Kingsport Blogger: Free Small Business Sources of Capital Class

Thursday, July 19, 2012

Free Small Business Sources of Capital Class - Show Me the Money!

KINGSPORT, Tenn. – The Kingsport Office of Small Business Development & Entrepreneurship (KOSBE) and the Tennessee Small Business Development Center (TSBDC) at ETSU will host a Free Small Business Sources of Capital Class – Show Me the Money! on Tuesday, August 7 from 6 – 9 p.m., at your Kingsport Chamber of Commerce, 400 Clinchfield Street, Ste. 100, downtown, Kingsport and Thursday, August 16 from 1 – 3 p.m. at the Rogersville Chamber of Commerce, 107 E. Main Street, Suite 100, downtown Rogersville.

Both events are free and open to the public, but registration is required.

Too many small businesses are undercapitalized from the onset, and too many fail because they underestimate their short-term and long-term cash needs. This short-course is a quick introduction to the different types of small business financing options available to startups and existing businesses looking to expand.

This class will cover traditional sources of financing such as personal and business loans via local banks, as well as unconventional options such as retirement savings, grants, competitive awards, leasing options, purchase order financing, credit arrangements, peer-to-peer lending, venture capital firms, angel investors and more.

"One big mistake small business owners make is pursuing business financing too soon and asking for too much or too little" said, Aundrea Wilcox, senior business counselor with the Tennessee Business Development Center at East Tennessee State University Kingsport Affiliate Office and executive director of KOSBE. "We will show you how to calculate your needs using free online business tools and calculators that will help you prepare for backing whether you've been in business 10 weeks or 10 years."

Loan programs to be discussed will include but are not limited to: SBA 7(a), Microloan, and CDC/504 Loan Guaranty Programs; State of Tennessee's Rural Microloan Loan Programs, the Patriot Express Loan Program, Export Express Loan Program and Pathway Lending Small Business Loans and Energy Efficiency Loans.

Presenters include: Sue Malone, president, Strategies for Small Business - #1 SBA lender status in West Virginia, South Carolina, Louisiana, Tennessee, Hawaii, North Carolina, and in the top five lenders category in other districts; Jacqueline Merritt, economic development specialist with the U. S. Small Business Administration; Aundrea Wilcox, senior business counselor with the Tennessee Business Development Center at East Tennessee State University Kingsport Affiliate Office and executive director of KOSBE; and Phil Black, program director for Pathway Lending.

Malone will cover SBA's newest loan program, the SBA Small Loan Advantage Working Capital Loan, which features loan amounts from as small as $5,000 to $25,000 that require NO COLLATERAL for startups and existing businesses.

The event is free and open to the public, but seating is limited. Advanced registration is required and must be received by August 6, 2012 for Kingsport and August 15 for Rogersville. Anyone interested can register online at kosbe.org or call (423) 392-8825 for more information.

It is the intent of KOSBE to be the go-to organization in the Tri-Cities for small business owners and entrepreneurs who want to start or grow their businesses, by creating and developing the right tools and resources and cultivating the right partnerships. In partnership with Tennessee Small Business Development Centers (TSBDC) at ETSU, KOSBE can more effectively serve the needs of entrepreneurs and small businesses. For a complete listing of services, tools and resources, visit kosbe.org.

The cooperative agreement between KOSBE and East Tennessee State University is partially funded by the U.S. Small Business Administration (SBA). SBA's funding is not an endorsement of any products, opinions or services. SBA funded programs are extended to the public on a non-discriminatory basis. Additional funding is provided by the Tennessee Board of Regents and the state of Tennessee.

To schedule your free confidential counseling appointment in a private setting by TSBDC-certified counselors in person, online by phone or e-mail call Marybeth McLain at (423) 392.8825 or e-mail, mmclain@kosbe.org.

For more information about the Tennessee Small Business Development Center (TSBDC) at ETSU Kingsport Affiliate Office and your Kingsport Office of Small Business Development & Entrepreneurship (KOSBE), visit tsbdc.org and kosbe.org or call (423) 392.8825. We're social too; follow us on Facebook, Kosbe – The Small Business Connection, Twitter, @KOSBEConnection, LinkedIn group, KOSBE - The Small Business Connection and our YouTube Channel, KOSBEConnection.