On Thursday, July 28th 2022 the Entrepreneurship Council hosted a seminar on Financing Your Business. The speakers included Rachel Armstrong from Regional Planning, Jeff Williams from Smartbank, Brent McMahan from Small Business Administration (SBA), and Beau Strong from Southern Development Council.
The different speakers covered what was available for start-ups and pre-existing businesses. Rachel Armstrong covered the Micro Loan which was good for small businesses needing less than $20,000. Jeff Williams covered what banks are looking for and mentioned how they would partner with SBA and other lending agencies to help small businesses in need of financial support for working capital, equipment and more. Brent covered various programs offered by the SBA to help with obtaining funds for small businesses which included the 7a program, 8a program, and more. He also talked about various programs available to help businesses with things like developing a business plan, training, and much more. Mr. Beau Strong spoke on the 504 loan and how they worked with the SBA on Long term loans for buildings purchases and new builds as well as financing equipment in the loan.
The event was great, and the participants left knowing more than they came in with. If you would like to attend a future event, feel free to visit our site at www.entrepreneurshipcouncil.org or give us a call at (334) 655-0417.
The Entrepreneurship Council is a 501(c)3 organizations.