Why a small business owner should attend this workshop:
Funding for small businesses is a challenge particularly if the business is just starting. Traditional
banks manage risk for their bank and can make the process intimidating, intentionally or not,
requiring often unsophisticated small business owners to prepare detailed financial plans that
they are not well equipped to create. The amounts needed are often small and don't make
economic sense for traditional funders. There are alternatives but there are risks for the lender
and the business that are important to understand before signing up for these channels of funding.
Common issues facing entrepreneurs that this workshop will address:
● What are my options for funding my startup or growth of my business?
● What can I do if the bank says no?
● I have limited personal resources to invest can I still get funding?
● There seems to be a lot of alternatives like crowdfunding why not just go that route?
Activities and/or materials included in this workshop:
The first half of the meeting will explore the options and their relative benefits, risks and
availability. The presentation will be supported by a panel of experienced financial pros from all
aspects of funding from bankers to accountants. There will be ample time for questions from the
audience to understand what they can consider. Of course detail solutions for any specific
situation is handled via free mentoring services provided by SCORE.
Benefits and/or outcomes of taking this workshop:
The attendees will walk away from this session with new options to consider for funding their
business. Additionally they will understand what is needed to take advantage of traditional
funding resources allowing them to understand why earlier requests may have failed and what
they can do to improve their chance of success. They will understand what they may need to do
to make their business more attractive to funding sources.
Edward Trucil - Ed is VP, Business Banking Officer based in Hackensack, N.J. Ed brings over
35 years of financial services experience to Lakeland Bank. His prior experience includes
merchant services, business banking and commercial lending.
Ben Chapman - Ben is a Certified Mentor for SCORE. The first part of his career was as a tax
partner in a large CPA firm. He then served as the tax director for an insurance company.
Nancy Eiden - Nancy is a leader in financial services, with a diversified background in strategic
and business planning, product development and wealth management.