Transcript: Presenter: Chris Duffy, Business Advisor Regional Economic Development Center January 11, 2018 Lending Options for SCORE Clients Overview Overview Traditional Bank Lending Alternative Lending Online Business Loans Crowd Funding Family and Friends Lending Traditional Lending Traditional Lending Types National/International Banks - eg Citizens, Bank of America, TD Bank Community Banks – eg The Provident, Enterprise, Eastern, Optima, Northway and more Credit Unions – Service Credit Union, St. Mary’s Credit Union Types Typical Small Business Criterion Typical Small Business Criterion • In Business 12 months or more • $50,000 - $1 million • Credit Score – 720+ • Collateral – All Business assets, personal guaranty, often personal collateral • Ability to Repay – normally minimal DSCR of 1.2 on historic financials • Character – principal with direct experience Current Banking Market Economy is strong, businesses are growing Willing to loosen lending criterion Willing to consider startups Current Banking Market Types of Loans Types of Loans Unsecured loan - up to 75% - all financing SBA 7(a) guaranteed – up to 90% - equipment, working capital SBA 504 – 80%, 85%, 90% - long-term fixed asset, typically real estate Asset Based LOC – based on percent of inventory and receivables (75% and 25%) CDC (504) Lenders – Granite State Development Corp; Capital Regional Development Council; CDC New England (BDC Capital) Alternative Lenders Alternative Lenders 10 NH Economic Development Centers – NH Alliance of Regional Development Corporations Northern Community Investment Corporation (NCIC) NH Community Loan Fund/Vested For Growth Accion Others industry specific; Farm Credit East, USDA FSA REDC REDC Alternative Lender Participatory Lending/Gap Filling Participatory Lending/Gap Filling Secondary Position to Bank and SBA Usually meet term of bank/SBA Typically provide up to half of equity requirement Direct Loan Direct Loan (may need bank rejection to qualify) $50-$500K Micro-loan - $5-$50K Brownfield Loans Derry RLC New American Micro Loan Fund Loan Criterion Loan Criterion Credit Score - *** Collateral Ability to Repay (DSCR 1.2+ on projections) Character Loan Criterion Terms Rate – 6% floor, typically 7-8% Royalty – occasionally on early stage, high risk Term – 5-20 year Interest only period – up to 1 year Declining prepayment penalty on refinance only Covenants – specific to loan Bank and Alternative Lending Loan Requirements Bank and Alternative Lending Loan Requirements Application Personal Financial Statement (each member 20% or over) 3 Years Business Tax Returns 3 Years Personal Tax Returns (each member 20% or over) Current Year Profit & Loss and Balance Sheet Business Plan/Description (based on loan amount) Projections – min 2 years monthly Support Documents (marketing material, appraisals, construction plans, etc) Online Loan Programs Online Loan Programs On Deck, Kabbage, SmartBiz, other High Interest Rates Devil in the Detail Highly Discouraged Crowd Funding Crowd Funding Kickstarter, Indiegogo Meeting Target; Commission Tiered “gifts” Effective at pre-selling product (book, game, other) Need to “know” majority of funders Friends and Family Friends and Family Recommend present request like a bank request (business plan, etc) Draft loan document Interest rates – 8-12% Discuss inability to repay – be honest Q&A Q A & Chris Duffy, Business Advisor Chris@REDC.com 603-772-2655
Transcript: Prepare Reports Excel Gruntwork I had a plan... Crocker's Boat Yard Research Eos is an Exception I served as the "Maintenance Department" How did I see this in action? Secretarial Small Businesses Have Advantages and Disadvantages How Does Technology Create Globalization? Learn what it takes to run a small business The World Is Flat Do actual, productive work Goals
Transcript: -Lucky to make a profit -Everything would have to be very expensive -Most popular baked good: cupcakes -High demand for breakfast Dough See Dough continued Maybe open a bakery one day -Sold: crackle cookies, coconut macaroons, chocolate chip cookies, day old muffins -Crackle cookies: $1 -Coconut macaroons: $1 -Chocolate chip cookies: $1 -Day old muffins: 50 cents -attempted to sell at Manchester Memorial School, but got there too late -one cupcake did not sell, probably because it had orange and green on the top, therefore not looking appetizing -Dough See Dough sold left over baked goods from the senior class a cappella fundraiser the night before -sold at the boys' lacrosse game sold Dunkin Donuts coffee Totals: Earned $76.10 Spent $27.12 Net Profit $48.98 Earned: $77 Spent: $18.94 Net profit: $58.06 Days 4-5 Grand Totals: Orders Totals: Day 11-13 -Sold: Sesame Street cupcakes, chocolate chip cookies, dirt n' worms -Sesame Street cupcakes: $2 -Chocolate chip cookies: 75 cents-$1 -Dirt n' worms: $2 Days 7-9 By Melissa Moore -Sold rainbow cupcakes with vanilla frosting, chocolate covered strawberries, chocolate covered pretzels -Small strawberries: 50 cents -Big strawberries: $1 -Pretzels: $1 -Cupcakes: $2 Learned: -Sold: fudge, cookie dough brownies, chocolate cupcakes with chocolate frosting -Fudge: $1 for two pieces -Cookie dough brownies: $1 -Cupcakes: $2 -Sold: cookie dough truffles, Mexican celebration cookies, maple oatmeal scones, potato basil frittata, chocolate chip cookies -Earned: $69 -Spent: $28.65 -Net Profit: $40.35 Day 6 Totals: -Cookie dough brownies sell -Cute animals on baked goods sell -Cupcakes sell even if they are extremely gooey and messy looking Earned: $100 Spent: $14.98 Net Profit: $85.02 Special about Day 6: Earned: $46 Spent: $7.89 Net Profit: $38.11 Totals: Dirt n' worms sells Chrysanthemum and peanut butter cupcakes sell Monkey bread does not Puppy chow does not In the Future -Sold: frog cupcakes, cookie dough brownies, owl whoopee pies, dirt n' worms, s'mores cupcakes Earned: $148.86 Spent: $29.45 Net Profit: $142.71 Expectations Day 2: Breakfast Earned: $923.30 Spent: $233.20 Net Profit: $690.10 Day 10 -Made a poster -Made a schedule -Made a blog: http://wemakecake.blogspot.com The Beginning -Mobile is good -Days 1 and 2 weren't flukes: we were going to earn a profit -Dough See Dough got its first order: chocolate chip cookies Learned First Day Day 3 -Sold: cinnamon rolls, muffins, day old cupcakes, day old fudge -Cinnamon rolls: $2 -Muffins: $1 -Cupcakes: $1 -Fudge: 50 cents Learned Earned $76.50 Spent $11.81 Net Profit: $64.69 -Sold: dirt n' worms, animal shaped sugar cookies, monkey bread, strawberry chocolate chip muffins, blueberry chocolate chip muffins, puppy chow, chrysanthemum cupcakes, peanut butter cupcakes Earned: $225 Spent: $54.58 Net Profit: $170.42 Batch of chocolate chip cookies ($17) Rainbow cake ($15) Giant cookie - plain ($10) Giant cookie - decorations ($10) Giant cookie - decorations ($10) Giant cookie - two, both decorated ($20) Sesame Street cupcakes (still to be made) Totals: Earned: $72 Spent: $23.60 Net Profit: $48.40 Totals:
Transcript: Go on Exchange present your country abroad Work with different mentalities Diversity Explore different cultures Be a Member Develop your skills Have an impact Enrich your knowledge AIESEC Be a Leader Lead your team Achieve your vision Coach others Be a mentor EXPERIENCE YOUR AIESEC JOURNEY Gives you a great experience
Transcript: Picking up poop Cleaning kennels Seeing animals stay in the shelter for a long time Learning my actions are hurting animals What is being done? http://www.ovathebridge.com/content/warm-weather-fun-4-paws-lane Help animals Wildlife Veterinarian Volunteering for six hours every week at the shelter over the summer Founded in 1948 Global conservation projects More than 1,200 member organizations Playing with the dogs and cats Helping dogs get adopted The staff Feeling like I was needed Becoming aware of the problems animals are facing in the world Pollution All Creatures Great and Small official protection to endangered/threatened species limits on hunting preserves wildlife Impacts on my Life By Anna Tyler Saving endangered species from extinction Reducing humans' impact on earth Preserving environment Research Paper Global Warming Do not litter Plant local, native plants Recycle (plastic, paper, glass, metal) Become involved in organizations/programs dedicated to saving endangered species Do not buy exotic gifts (tiger fur, ivory, crocodile skin, ect) My SCORE Project World Wildlife Fund Likes and Dislikes Dislikes Internship at the Cape Ann Animal Aid Research paper on humans causing the heightened species extinction rate Likes Sweeping/mopping Cleaning kennels Walking dogs Playing with dogs outside Playing with cats inside Interacting with customers (giving info. on animal, letting them meet the animal) Washing bowls/litter boxes/toys Laundry Cleaning isolation Picking up poop Making sure every animal has fresh water Deforestation Overexploitation Endangered Species Act of 1973 Thank you! What can I do? International Union for Conservation of Nature Humans are the main contributors to the heightened species extinction rate Threaten and destroy habitats Used to be 10-100 species/year Now 27,000 species/year Ecosystems cannot clean/recirculate air and water, provide new sources for pharmaceuticals, pollinate crops Working at the
Transcript: From taking in the world around you, you can examine how to succeed in life The project made me want to continue and advancing my skill in Autodesk By Tucker Oppenheim But four years of homework has taught me how to be mature and meet deadlines by keeping myself organized My project revolved around computer work Learning new programs isn't always easy I learned that to learn new things it is important to never stop the learning process, for it decreases your aptitude Tapping away at a computer all day may seem dull to many Although, through the help of this project, it made me decide to major in computer sciences Being a student has taught me to never stop learning But being your own boss has its positives You cannot do everything by yourself Utilizing the resources around you can always benifit the knowlege you gain Learning AutoDesk Inventor Working solely on a project can be tasking S.C.O.R.E. Project "The Zip Clip" Much like homework, while working alone you may get distracted It taught me when you work alone, the only person you can attribute the failure or success of the project is yourself Technology is the future, and with the ability to wrap your head around it, your choices are almost limitless An Impact this project had on my life was self reliance Anything Can be made in Autodesk, which is an incredibly useful tool anywhere in life For many working on a computer for hours can stretch the limits of attention spans Without proper breaks it can also take a toll on the eyes,back and brain Being able to construct anything on a whim has major benifits later in life If you stop learning, doors will close in your life The project made me realize, no matter how hard you work at one point you will need someones help Learned through the help of Autodesk's hours of tutorials Also had help learning tips and tricks from an engineering graduate who uses the program
Transcript: A Day in Kindergarten - 11th year of kindergarten at EES - 15 years as children's librarian - BS in Early Childhood Education from Salem State College and M.Ed from Lesley University Reader's Workshop Independent Reading: -Art -Gym -Library -Music -Computers Morning Meeting - Incorporated into Writer's and Reader's Workshop and Centers In Mrs. Carbrey's Class at Essex Elementary Arrival Activities - Morning Meeting Review - Morning Song - Intro/continuation in lesson Instruction for Writing Example: Plant Projects - Broken up into Centers -Letter of the week - Based on current lesson Ex: life of a seed, how to help the environment *Emphasis on technology* -Science center -Home living center -Art center -Writing center - Games and puzzles center -Listening center -Math center -Weather - Date - Focus on simple addition and subtraction -Number groups Science Curriculum Writer's Workshop RTI Centers Literacy -Free play -Makeup work - Morning Message - Sight words ~ Word Wall - Phonetic Spelling - Punctuation - Capitalization - Spacing - Illustration Ex: Parts of a plant, caring for the plants, the water cycle, free write -Response to intervention: Math and Literacy - WIN (what I need) time - Assessments in Fall, January, June - Kids pulled if scores are under the 10th percentile - All grades - 5th grade readers -Reading groups Calendar and Math Reflections Specials Judy Carbrey *Rotates Daily*
Transcript: Text "SweetDeal" to 96362 Optimize Posts Online Marketing & Social Strategies for Real Estate Agents 9/28/12 LinkedIn Professional Profile About Angie Online Presence Website The "Hub in your Marketing Wheel" Thanks, Angie Kannada Wicked Smart Social www.wickedsmartsocial.com 602.759.2141 “Like” us on Facebook... www.facebook.com/WickedSmartSocial Integration
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