Fresno, CA -- (SBWire) -- 06/04/2014 --Jessie Singh, director of the Biz4loans, delivered that message to lead off the small business seminar Tuesday in celebration of Indiana Small Business Week.
“We are committed to offering opportunities to Gary residents who start and run, or who have current businesses. Those businesses need to fit with our vision for the future,” Campbell told the dozens of current and potential business owners who attended the seminar at City of Gary Annex, 839 Broadway.
The seminar organized by the U.S. Small Business Administration Indiana District Office in Indianapolis brought together speakers to explain how lenders provide business loans, how to get help writing a business plan and how to sell products to government agencies such as the Indiana Department of Transportation.
Regional director of the Northwest Indiana Small Business Development Center Lorri Feldt said the agency serves Lake, Porter, LaPorte, Starke, Pulaski, Jasper and Newton counties and works with small business owners and startup entrepreneurs.
Free one-on-one business counseling begins the process of using the NW-ISBDC, she said. Other services include monthly workshops, such as Launch ones Own Business and QuickBooks, providing valuable, high quality demographic data and connecting people with resources throughout the area.
To obtain the necessary financing or capital to open and sustain a business requires a detailed business plan, Feldt said.
“This is like a game plan for a sports team,” she said.
Marty Anderson, lead economic development specialist with the U.S. SBA Indianapolis office, said the SBA helps small business owners through the 7(a) Loan Program and the 504 Certified Development Company loan program.
“There are three C’s of the SBA – counseling, capital and contracting. We provide the public with mentoring, which is the counseling; access to capital and government procurement,” he told the group.
“Remember there are no grants for startups and to expand the business. What one get is a loan,” Anderson warned the group.
“The SBA’s role is primarily a guarantor of business loans made by financial institutions,” he said. “They are always 100 percent on the hook for the loan because we are using taxpayer dollars.”
For those with credit problems or no credit history, microloans can be an alternative to obtain startup capital to open a business and to repair credit ratings, said Kyle Johnson, a lending team manager from Accion Chicago.
Accion clients haven’t been able to obtain loans from banks because of low credit scores or no credit history, he asid.
“We’ve been lending for five years in Lake and Porter counties. We are more flexible on requirements (than standard financial institutions). As long as we can see what’s on their credit report, we can work with them,” Johnson said.
“Our interest rates range from 10 percent to 18 percent. It’s not as low as a bank, but it’s lower than a credit card,” he said.
About Start up Business Loans
As commercial loan brokers, our mission is to provide our clients with the highest quality of service and efficiency. We provide our clients with extensive loan processing by experts on our quick, simple and safe process, while closing loans faster than anyone else. Here at Biz4Loans, the customer is our top priority.
Who We Are
Biz4Loans is a California-based loan company with an exciting new way of quickly closing commercial loans for businesses small and large. With a customer-centric focus and a high standard for quality service, we embrace new technology to pass cost savings on to our business clients.
Entrepreneurship Advocates
“Entrepreneurship is living a few years of the life like most people won’t, so that one can spend the rest of their life like most people can’t. “ – Anonymous
We believe entrepreneurship to be one of the most rewarding journeys that a person can pursue and that no two entrepreneurs are the same. Some seek a better life for themselves and their families while others take on the risk in pursuit of independence. Whether it is a small town where everyone knows each other or a big city that never sleeps, every community relies on entrepreneurs to create and provide jobs and to usher in new possibilities.
At Biz4Loans , we understand the challenges that entreprenuers face in financing their venture. We also understand that a startup entrepreneur frequently has to wear many different hats while her company is getting off the ground. This is why we provide a quick, convenient, and detail-oriented process that achieves results without unnecessary delays or obstacles. For more info visit http://www.biz4loans.com/
