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If You Want a Loan, You Need to Think Like a Lender

Aug
7
2018
Tue 9:00 AM to 10:30 AM
Topic: Financing

Capital is critical to small businesses that are scaling up for growth and working to sustain their success, but asking for money can be intimidating – especially if you don’t know how a lender thinks. How can you build your confidence before talking to lenders? By knowing what your numbers tell you about your business and what lenders expect to see so you’re prepared before you ask. In this program you will expand your understanding of your business financials, gain insights into how lending decisions are made, identify specific issues your business may face and develop an action plan to be lender-ready to fund your growth. Program Objective: After completing this program, you will: • Know why your numbers are an essential part of your loan application • Know how lenders think and what story your numbers tell them • Know what financial projections can tell you about your funding options • Know next steps to take in order to close the gap and improve your chances of getting approved for a loan Please note: This program is NOT a lender, investor networking event or pitch event. This program is intended for: • Businesses that are already generating revenues AND are looking for funding in the next 12-18 months • Businesses that have a long-term exit strategy to sell their business Topic Outline • Welcome • Introduction • Section 1: Getting Comfortable With Your Numbers - Money myths that get in your way when you talk to lenders - Why the numbers are a critical part of your decision – and why you can’t pass this off to someone else (accountant, bookkeeper, CPA, CFO for hire, etc.) • Section 2: Know the Lender Mindset - What lenders worry about and why you should care - The life of a loan - Why a budget won’t help you get a loan and what you need instead • Section 3: Understand your financial projections to know what your options are - What good financial projections tell you (EBITDA in future years) - How much do you need to borrow? - What you can afford to borrow? • Section 4: Next steps to close the gap and get the loan - First = build a financial projection model you believe in - Second = calculate how much you need & how much you can afford to borrow - Third = If you can’t make it work right now, identify what changes you can make to your business to get ready • Closing

Speaker(s): Stephanie Sims, author and champion of small business owners. Stephanie believes that every business owner can grow their dreams and their profits but have to know their worth.


Fee: $ 20.00

Payment accepted by CHECK ONLY made out to "Maricopa Community Colleges - SBDC".

Register Online
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Phone: 480.784.0588
Email: rebecca.pruitt@domail.maricopa.edu

Location

Maricopa Community Colleges SBDC
GateWay Community College
Room 1330 in the South Building
108 N. 40th Street South Building (SO) Phoenix, AZ 85034