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!!!



Follow-up sessions are required for this program.



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




A recent, past survey of SBDCs nationally indicated that the average state investment in SBDCs stands at $1.1 million. New Jersey falls significantly below that average. States like Georgia and North Carolina with a similar size population as New Jersey invest $3.0 million and more than $2.0 million respectively.

MAP - NJ State (colorful) from BrochureThe New Jersey Small Business Development Centers network continues to advocate for restoration of its State Government match funding since the program brings back to New Jersey $3 million dollars in federal funding to provide comprehensive assistance for small business owners and entrepreneurs.

That state match is critical along with other non-federal funds it raises to obtain full federal funding for small business assistance services in all 21 counties.

Small business clients from around the state readily acknowledge that the guidance and knowledge they receive through this program has helped them stay in business, develop and grow. They are pushing for the State Legislature to allocate more resources. During 2014, 534 NJSBDC clients started a new business and the NJSBDC network helped its clients create and save 15,089 jobs. The network counseled and trained more than 12,000 small businesses and entrepreneurs.

Clients maintain that this program is simply returning services they are already pre-paying for through the large amount of federal and state taxes they pay. “If the larger companies receive all sorts of tax incentives, grants and other subsidies, why isn’t the State of New Jersey providing the proper investment level for small business assistance through the NJSBDC program?” said Deborah Smarth, NJSBDC chief operating officer-associate state director. “After all, small businesses create the bulk of the jobs.”

During the last administration, the network received $1 million in state allocation, but, due to executive action, it was reduced to $500,000 even after the Legislature’s efforts to restore the full one million. Then mid-fiscal year, the Corzine administration froze the program to $250,000 which is where it is today.   The Christie administration in its first year had tried to eliminate that modest funding level, but, the Legislature restored the funding and the $250,000 allocation has been stable for the past few years and the Governor’s proposed budget for 2015-2016 allocates the same level.


RELATED: NJSBDC Press Release – Small Businesses and Entrepreneurs Receive Boost (7/1/2015)


Image: iStock

How to Get Capital Funding for Your Small Business

Capital funding is money that lenders and equity holders provide to a business. The money is used for operating capital, but investors and equity holders expect to see a return on investment through interest, dividends, and stock appreciation. Entire companies exist with the sole intention of providing capital funding to businesses, some in specific industries and others not. Some companies also provide certain types of funding such as short-term financing or financing during certain stages of the business process.

Whether your business is brand new or you’ve been running the show for quite some time, an infusion of cash is always welcome. Your best bet is to work with a venture capitalist–a person who provides capital to startup ventures or supports small businesses that don’t have public funding to expand. Winning this type of funding isn’t exactly easy, but we have a few helpful tips to help you through the process.

Have a Business Plan in Place

You need to have something going if you want to get funding–not just a cool idea. You should carry relevant experience, maintain strong connections, and have a clear vision for where your business is going in the near future. Write a formal business plan and have a creative, engaging pitch. If you don’t know how to do this, hire help. It will be worth it.

Be Clear About What You Want

What do you need the money for? How do you plan to allocate it? Investors want to know how their money is going to be used and how it will benefit your business. This is important because investors are concerned about when their investment will be returned–the sooner (and bigger!), the better.

Apply with VCs Who Understand Your Industry

It’s ideal when you can find a venture capitalist who has already shown interest in investing in companies like yours. This is a good indicator that they are familiar with what you do and know what your business needs to grow.

Explain Your Uniqueness

Venture capitalists appreciate businesses that are unique. It’s hard to ask for an investment when your business is like any other–and has competition on every corner. Explain what makes your company different–better.

Show Your Dedication

Investors get turned off when they feel that a business owner wants them to take the risk. Show that you are in this business 110 percent. It takes more than passion to run a business. Be sure to detail where you see your business in the next few years and how you plan to get there. You don’t need to ramble on about your own credentials, either. Instead, let your understanding of the market, your customers and your employees shine through.

Request Consulting from NJSBDC!