financial lenders

2016 SBA New Jersey Lender Awards | Thursday., January 26, 2017 @ 11:30am

The SBA New Jersey District Office

requests the pleasure of your company as we

honor the achievements of our lending partners at the

 

2016 SBA NEW JERSEY

LENDER AWARDS LUNCHEON

 

Thursday, January 26, 2017  |  11:30 AM to 1:30 PM

(Doors Open at 11:00 AM)

Cost: $35 per person

(Reserved Tables Available)

   

FORSGATE COUNTRY CLUB - 600x600_1298321661775-front

Forsgate Country Club

375 Forsgate Drive

Monroe Township, New Jersey 08831

 

Register

Click Here to Register or copy the below link into your Internet Browser:

https://www.eventbrite.com/e/2016-sba-new-jersey-lender-awards-tickets-29453355780

Sponsored By:

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Credit Clinic Webinar | Bank of America’s Business Builder Series | October 2016

Credit Clinic Webinar – October 2016 

 

Are you interested in enhancing your personal & business financials?

How bankable are you?

 

Wednesday, October 19, 2016 | 6 – 8pm

Online Webinar

 

In today’s climate, it is vital for you to know how credit issues impact your business and your life!

 

Join us for this incredibly informational webinar as we help you understand:

  • Your credit situation/status based on your credit report;
  • How credit scores are calculated;
  • Which factors impact your credit scores and how to make them work for you;
  • How financial statements and tax returns impact or enhance a credit rating;
  • How investors, lenders and creditors use credit bureau reports to assess your business’ capacity.

 

No Cost to Join BUT Registration Is Required

 

 

Understand Your Credit Profile!!!

 

NOTE:

Follow-up sessions are required for this program.

 

Register

Registration Ends: Tuesday, 10/18/16 @ 2pm

 

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Meet the Lenders Forum | NJSBDC @ New Jersey City University

 

Meet the Lenders Forum:

 

Thursday, September 15, 2016 12:00 – 2:00pm

 

 

Do you know what Lender Programs are

available for Small Business?

 

 

New Jersey City University

School of Business Lecture Hall

147 Harborside Financial Center

Jersey City, New Jersey 07302

 

 

 

 

This Is Your Opportunity To Understand:

  • Loans Available for Small Business (7a, 504, Microloans);
  • The Basic Lending Criteria to Qualify For Funding;
  • The Application Process and Documents Required;
  • Non-Traditional Finance Options;
  • And Meet With Loan Experts Who Work With and Fund Small Business Entrepreneurs

 

Free to attend, but registration is REQUIRED.

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Credit Clinic Webinar | Bank of America’s Business Builder Series | June 2016

 

Are you interested in enhancing your personal & business financials?

How bankable are you?

 

Wednesday, June 15, 2016 | 6 – 8pm

Online Webinar

 

In today’s climate, it is vital for you to know how credit issues impact your business and your life!

 

Join us for this incredibly informational webinar as we help you understand:

  • Your credit situation/status based on your credit report;
  • How credit scores are calculated;
  • Which factors impact your credit scores and how to make them work for you;
  • How financial statements and tax returns impact or enhance a credit rating;
  • How investors, lenders and creditors use credit bureau reports to assess your business’ capacity.

 

No Cost to Join BUT Registration Is Required

 

 

Understand Your Credit Profile!!!

 

NOTE:

Follow-up sessions are required for this program.

 

Register

Registration Ends: Tuesday, 6/15/16 @ 2pm

 


The Use of Social Media to Qualify for Business Loans

By Jeanmarie Tenuto

 

Some prospective borrowers are voluntarily including their social media (business and personal) to financial lenders as part of the loan submission package. Although unregulated and not “officially” part of the risk analysis and evaluation process for traditional lending institutions, the power of social media profiles may strengthen (or weaken) a prospective borrower’s opportunity to get a loan.  It is important to keep in mind that all profiles are public domain and remain in perpetuity.  If you haven’t started already, now would be the perfect time to begin social media branding for yourself professionally and your business.

 

FICO (Fair Isaac Corporation) is the credit score evaluation company whose process is used by most lenders to gauge a potential borrower’s “creditworthiness.”  Today, FICO does not include social media profiles.  In addition, all U.S.A. financial institutions must adhere to fair lending laws and other regulations which currently do not factor how social media data can be used in underwriting.  But one day, that may change.

 

From the perspective of consumer groups, there is a growing concern that the unregulated nature of social media and its possible practice by lenders could lead to denying loans or increasing interest rates, unfairly.  On the other hand, advocates contend that incorporating social media into the application gives new, startup businesses that lack a track record, or businesses (entrepreneurs) that have bad credit history, a way to make up for those shortcomings by providing more information.  Consider the data collected via social networks may say more about the borrower than the FICO score.

 

Allowing lenders’ access to social media accounts may improve the chances of approval by providing more data points to the lender.  The use of social media in underwriting may grow over time and this is how you can best prepare for it today:

 

THINK:
Social Media is a marketing tool for personal and professional branding.

 

KNOW:
Social media allows you the opportunity to communicate your expertise and the company.

 

DO:
The information that should be perfect on social media includes:

  • Name, address, name of business, job title, etc. are consistent across all social media sites.
  • Launch the social media accounts soon after the business launch so it corroborates the time in business.
  • Increase social media connections personally and for the business profiles.
    • Target type of connections of quality and seniority.
  • Monitor the ratings and reviews of the business.
    • Develop buzz about the business, its products and services on social media sites.
    • Interaction with customers on social media should be often and well communicated. Manage conversations and complaints. All questions should get a response.

Request Consulting from NJSBDC!