In Business / June 2006
Working Work Shop
A small business assistance and financial workshop will be held on Friday, June 2, 2006 at the WorkForce West Virginia Center, 206 Lakeview Center in Parkersburg from 9:30 to 11:30 a.m.
The workshop is recommended for small business owners looking for financing to expand their business or who just need some working capital. Potential entrepreneurs who are considering starting a businesses, who are uncertain where to obtain financing or who need help with small business issues would benefit from the free workshop.
During the morning, helpful information will be provided to new and existing small businesses about financing programs backed by the SBA. Loan proceeds may be used for most business needs, including the purchase of real estate, equipment, and debt refinancing. Information about how to identify and locate local small business resources are also on the agenda. Representatives from economic development and small business assistance groups including: WorkForce WV, the West Virginia Small Business Development Center (SBDC), the SBA and lenders will provide information on their programs and services and be available to answer questions.
The workshop will feature SBA’s 7(a) Loan Guaranty Programs, which include SBAExpress and CommunityExpress. The 7(a) loan program provides loan guarantees through lending institutions for business related purposes of up to $2 million. The CommunityExpress Loan provides financial assistance, capital access and technical and management assistance to for-profit businesses with a maximum SBA guaranty up to $250,000. One feature of the program provides unsecured business loans up to $25,000. Approved loans are funded for a seven-year term with a variable interest rate based on Prime plus 4.75 percent. Loan applicants must operate a for-profit business, be of moral character and have good credit. Some lenders will require a packaging fee which is a fully deductible business expense.
The SBA’s 504 loan program, also known as the Certified Development Company program, will also be featured. This loan program provides affordable long-term, fixed-rate financing to help healthy, expanding small businesses grow. The loans are for acquiring long-term fixed assets, such as land, building, machinery and equipment, or for building, modernizing, renovating or restoring facilities.
The workshop is being conducted with support from the WorkForce WV Center, WVU-Parkersburg Small Business Development Center, Chamber of Commerce of the Mid-Ohio Valley, and the U.S. Small Business Administration.
To register, contact Cynthia Hunter at the Workforce WV Center at (304) 420-4531 or chunter@rosslearning.com or Barbara Carder at the SBA WV District Office (800) 767-8052.
For more information about SBA financial assistance programs and services, contact the SBA, 304- 623-5631 or 800-767-8052 ext. 8; email at wvinfo@sba.gov; or visit www.sba.gov/wv.
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Femme Fair 2006
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