Wednesday, April 8, 2015

Show Me The Money: Financing

Your Business Options (2 of 6)

Overview:

Understand the various ways you might finance your business and how to approach friends and family, angel investors, banks and venture capitalists. Learn to prepare the documents you will need to submit for each. A guest banker will present criteria banks use to determine credit worthiness and a representative from the SBA will discuss the SBA loan guarantee program.

Description:

1. Borrower’s qualifications  2. How do you communicate? Know how to talk to financiers. 3. Funding Sources: Where do you go to get financing? 4. SBA Guaranteed loans: All about the SBA loan guarantee program. 5. Banker’s point of view: What is a banker's take on your qualifications? 6. Follow Up and set backs: What do you do if the banks reject your application?

 

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Speakers:

Dan Pallat is the owner and operator of Pallat Financial Services. Prior to that, he was a partner with Tatum, LLC, a national executive services and financial consulting firm. During his career, he has held senior management positions in finance and operations with public and privately-owned companies as a CFO and CEO. He has facilitated turnarounds for under-performing businesses, prepared business plans and strategic plans, assisted in acquisitions and divestitures, managed the startup of new ventures, prepared cash flow forecasting systems, developed budget models, and designed financial reporting systems. He is a CPA and holds a degree in Accounting from John Carroll University, where he graduated with honors and received the school's Outstanding Accounting Graduate award. 

Dennis Foldenauer is a Supervisory Economic Development Specialist in SBA’s Illinois District Office where he conducts outreach on SBA’s programs and partners, small business finance and topics of current interest to businesses like the Affordable Care Act. Prior to joining SBA, Dennis represented the US Department of Commerce’s Economic Development Administration in Michigan, Minnesota and Wisconsin.

Lily Pai

Lily Pai is a loan officer and SBA processor at Accion Chicago. Lily graduated from University of Illinois in 2005 with a degree in Computer Science. After working as a software engineer for 7 years, she went to Boston University for her MBA and got involved with microfinance institutions in the area. After school, she was hired at Accion Chicago as a loan officer. She is currently transitioning to her new role as processor, and enjoying the ride.