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Lunch & Learn: Fueling Your Small Business with SBA Lending

May
30
2024
Thu 11:30 AM to 1:30 PM
Topic: Financing

The SBA does not lend money directly to small businesses. However, the SBA assists in bringing debt capital (i.e., loans ranging from a few thousand dollars up to $5 million dollars) to small businesses across the country by providing incentives such as a guarantee to their lending partners (e.g., non-profit lenders, small community banks, credit unions, regional lenders, and nationwide banks) to assist new and existing small businesses and industries for a variety of purposes.

In this seminar, you will learn about the various SBA loans including the 7a, Micro, and Community Advantage Loan, and gain an understanding of when a Surety Bond might be needed.

Businesses can use SBA loans to:

• Provide long-term working capital for operational expenses or to purchase inventory;

• Obtain short-term working capital, including seasonal financing and exporting;

• Purchase equipment, machinery, furniture, fixtures, supplies, or materials;

• Buy land or purchase, build, or renovate an existing building;

• Expand an existing business; or

• Refinance debt (under certain conditions).

Networking and lunch: 11:30 am - Noon

Workshop: 12pm - 1:30pm

Lunch will be provided by the Minority Economic Development Committee of the Rocky Mount Area Chamber of Commerce

Speaker(s): Scott Wolford

Co-Sponsor(s): MEDC: Rocky Mount Area Chamber of Commerce


Fee: No Cost

Location

Rocky Mount Campus- Edgecombe Community College
Guy E Barnes (Auditorium)
225 Tarboro Street Rocky Mount NC 27801