What to know before applying for a small business loan, how to put a loan package together, resources for creating a business plan, and how to place your company in a position to grow and expand through acquiring capital are topics of this week's free webinar with host and SBDC director, Kelly Bearden.
Kelly begins with webinar with important program and forgiveness options for businesses that accessed the Employee Retention Credit or Economic Injury Disaster Loan (EIDL). Other topics include local and regional issues impacting small businesses, the economy, and availability of capital resources programs.
This marks the 311th episode of the weekly “Webinar Wednesday” business series that provides news and information helpful to employers and business owners.
The CSU Bakersfield Small Business Development Center provides free one-on-one consulting to help small business owners. New and existing businesses can sign up for assistance.by clicking here!
TIMESTAMPS The bold blue link below is a direct link to where Kelly begins How Business Loans Work and What to Know Before Applying
00:00 Intro
00:51 What’s up today March 6, 2024
04:15 Poll Question #1: “What is your level of happiness?”
07:59 Poll Question #2: “Recently, the bank U2 completed a series of 40 concerts at The Sphere, a new venue in Las Vegas. What was the gross amount of those concerts?”
09:37 Why ERC Amnesty & what you need to qualify for 80 percent – March 22 is deadline to apply:
11:09 Corporate Transparency Act - Beneficial Ownership Information
13:42 Economic Corner
14:40 Economic Corner & How the Federal Reserve influences small business loans
16:09 Starting a Business – FREE SBDC Boot Camp for 4-part webinar series
16:39 SBDC FREE Social Media Webinars - Six-Part Series
16:56 12-week Home Daycare Business Start-Up with Nurture- $1,000 start-up grants
17:15 FREE Human Resources Hotline for Employers
17:34 CSUB YouTube Channel
26:38 Capital Assessment Form
29:24 Some Basics of Business Loans
35:07 More Basics – Target the Lender & Where you can get help from those who understand
38:00 Putting a Loan Package Together
43:39 Understanding the Underwriting Process
48:04 Four Current Planning Trends
49:39 What Works in a Plan for Most Lenders
49:58 Tools available through the SBDC
50:25 What Does an Ideal Business Plan Need?
51:22 Start-Up Business and Best Guess
51:43 Business Model Canvas Template Used at the SBDC
51:55 Seven Lending Resources You Should Know
52:46 Financial Projections and Debt Service Coverage
53:19 Online Loan Calculator
54:00 What is the APR Your FINTECH is Charging?
54:39 Questions from webinar attendees
