SBDI Introduction
9
Click here to load reader
-
Upload
thomas-montgomery -
Category
Documents
-
view
98 -
download
2
Transcript of SBDI Introduction
Small Business
Development InitiativeA five minute intro to understand how we help start and grow small businesses.
What Is The SBDI?
The Small Business Development Initiative (SBDI), is an
innovative, new program to assist small businesses and
aspiring entrepreneurs for starting and growing small
businesses.
It is a free program, funded by grants and sponsorships,
provided by the Business Credit Literacy Initiative, a non-
profit organization.
The SBDI assists entrepreneurs in creating business plans,
financial management, and building business credit to
obtain $100,000+ of business credit and funding.
Why Is The SBDI Needed?
According to the United States Small Business Administration (SBA), two primary reasons for small business failure is a lack of business planning and inadequate access to business credit and funding.
Small businesses are a critical component and major contributor to the strength of local economies.
In fact, since 1995, small businesses have generated 64% of new jobs but most resources to help small business owners are considered inaccessible, impractical, or too expensive.
SBDI As A Three Legged Stool
Importance of Business Credit
90% of small business owners don’t understand business credit.
Business credit is MUCH different than personal credit.
It is credit and funding based solely on the EIN of the business without personal guarantees of the owner(s).
A business is able to get 10x to 100x the credit that an individual can.
Any business can obtain business credit cards and cash funding of $100,000+ to start or grow a business.
Main bureaus: Dun & Bradstreet, Experian, and Equifax.
Building business credit provides access to capital and also can increase the valuation of the business itself.
Importance of Business Plan and
Financial Management Assistance
For SBDI participants who do not have a written business plan, we will assist with this at no cost.
A well-written business plan is important for raising capital and an important element for any business.
Many small businesses are so busy “doing” that “planning” takes a back seat.
At no cost for SBDI participants, we will conduct a monthly financial meeting to review financial statements, key ratios, cash management planning, etc.
The ability to produce monthly financial statements is key.
Summary of SBDI Model
Committed to helping start and grow small businesses to create jobs, strengthen communities, and improve lives.
No cost to qualified participants (businesses).
No limitation on location, industry, or stage.
Can be already in operation or pre-launch.
Professional assistance in the three key areas to obtain business credit and cash funding to start/grow.
Collaborative, community-based model with local Credit Literacy Educators and a desire to coordinate with local resources, advisors, and referral sources.
Guaranteed results—a minimum of $100,000 business credit/cash funding for every participant.
What Now?Let’s collaborate to help create and grow small businesses.
Next Steps
We are looking for more qualified employers to
participate and Credit Literacy Educators to help spread
the word and teach Workshops on the program.
Contact us if you’d like to learn more or to get involved.
Business Credit Literacy Initiative
www.BusinessCreditLiteracy.org
(682) 207-8419
