accion: resources for entrepreneurs mario cardona loan officer
Post on 27-Dec-2015
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ACCION Texas – Who We Are Our History Our Products and Services Issues Business Owners Face Creating a Roadmap to Success Business and Financial Plans Tips for Preparing to Access Capital Resource Partners
Overview
Who We Are
• The mission of ACCION Texas is to provide credit and technical assistance to small businesses that do not have access to loans from commercial sources, and to provide leadership and service to the micro lending field on a national level.
A 20 year non profit that is a CHAMPION AND SUPPORTER of small business by PROVIDING small business LOANS and business
EDUCATION.
Our Products and Services
To achieve our mission we provide:•Loans:
– Microloans ranging from $500 to $50,000– Small Business loans: $50,001 to $250,000 with
local funds and as a designated Community Advantage 7a lender
– SBA 504 program in Texas market– Special Funding Programs for Veterans
•Business Education: – Business consultations & business seminars (in
house and with partners)•Innovation:
– Micro lending Management System
Always on your mind….
Accounting and Financial Systems
Inventory
Equipment
Insurance/Bonding/Surety
Marketing/Advertising
Expansion of Work Force
Are you purchasing an existing business, franchising, creating a new business or is the business already established?IntroductionBusiness DescriptionManagement and OperationsProducts and ServicesIndustry and CompetitionCustomersMarketing and Sales Strategy
and last, but not least…
The Business Plan
Start – Up Needs
Fixed Assets•Buildings•Equipment•Furniture & Fixtures•Vehicles
Operating Capital•Start-up payroll•Rent & utilities/deposits•Initial Inventory•Licenses and permits•Working Capital
The Financial Plan
Fixed Monthly Expenses
•Advertising•Bank fees•Insurance•Payroll•Rent•Supplies•Taxes•Utilities•Loan Payment
Capacity: Do you have the ability to repay the loan successfully? (Debt to Income <50%)
Character: What is your background, experiences, and expertise? Is your business related to that experience?
References are required.
Credit History: What does your credit history show? Collection? Charge Off? Bankruptcy? Judgment?
Collateral: What type of assets can you pledge to secure the loan? What items have you purchased for your business?
Commitment and Motivation: To improve your business and improve your credit
Conditions: Do you have a clearly defined purpose of how the loan will be
used for your business? How is the industry and economy doing?
What does your Business Plan look like?
The C’s of Accessing Capital
Tips: Preparing for Financing
• Prepare a Business Plan • Review your credit report• Understand your financials• Create a sales and marketing plan• Do market research• Know who your target customers are• Create an advisory group – CPA, business attorney and banker
Tips: Preparing for Financing cont.
Gather Your Financials – current YTD/historical Financial Projections – start ups and young
businesses Gather Current Contracts Gather proof of upcoming contracts Bank Statements (3-6 months) Tax Returns (1-3 years) DBA or Corporation Documents Letters of Recommendation
Veteran Owned Businesses
• In the last 5 years, Accion Texas has made 434 loans to Veteran business owners, totaling $6,339,199
• In 2014 Accion Texas has made 86 loans to Veteran business owners, totaling $1,185,209
• Special veteran loan funding programs may be available
Our Differentiating Factor
Full one stop shop for aspiring or established business owners. * Support individuals build and establish their credit * Serve as a stop gap * Efficient application process * Creative with collateral * We utilize an internally designed risk formula * No minimum credit score requirement * Interest Rates range from 10.5% to 18% (possibility of lower rates with different loan programs)
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