Jason Hargett & Sarah Hunt from TD Bank presented on “Access to Capital for your Business”. This presentation discusses the different funding options available when starting and running a business. They touched on the pros and cons of each method of financing, and how to be prepared for the loan type needed based on your business.
Despite some technical difficulties the TD Bank Team took the reigns with handouts that gave us quite a bit to think about. We talked and asked questions about different aspects of how a business could get financed.
The takeaway?
- Your personal credit history MAKES A DIFFERENCE, so getting that in order is a great idea
- Understanding what your capital loan money is clearly needed for will help to isolate the type of funding you request
- The 5 “C”s of Credit is a process most lenders use to evaluate loan requests [Character, Capacity, Capital, Conditions, Collateral]
- YES, your business has a type of “credit score” which you can check at Experian
- There are TONS of FREE small business resources to be found at www.sba.gov