25 May Unconventional Financing Options
Unconventional Financing brings owners new options – The speed at which unconventional financing methods has changed over the last year is staggering. Just five years ago, most business owners’ only financing source was their local bank. Today, there are many new and unconventional financing sources to fund start-up and small businesses. At this month Meetup our speaker will be Sam Thacker, and we will explore the rapidly changing financing landscape and the many new options for growth capital.
Sam Thacker, President of Business Finance Solutions, has 20 years in the commercial banking. For most of his career, he specialized in finding small to mid-cap sized businesses financing solutions that best fit the needs of his clients’ business plans. Today, he has many new unconventional financing options as well as traditional funding sources to help his clients.
In this presentation, he will discuss who the winners and losers are in our ever changing world of small business financing. Sam will share his experience with many of the financing tools and talk about how his clients used these to grow their business. Most importantly, Sam will explain when to use each type of unconventional financing and when to seek more traditional funding sources.
Earlier this month Sam presented this topic at the Innovation Week hosted by People Fund. His presentation drew some of the events largest crowds. Sam’s entertaining presentation style and knowledge impressed the audience. We expect he will also entertain and educate our Meetup group this month.
So, what are some of the unconventional financing options available to fund your business growth? This month we’ll explore some of these examples:
- Conventional bank loans – Many small business owners are frustrated that conventional bank loans aren’t materializing. Underwriting for commercial lending continues to change and many small to mid-cap sized businesses are being turned away for conventional bank loans. We’ll discuss when conventional bank loans are a good fit for your business. We’ll also discuss how to manage conventional bank loans for optimal business funding. The discussion will also include when it would be better to seek an unconventional financing solutions before seeking a conventional bank loan.
- Crowd funding – This much talked about financing tool is not just for start-ups any more. Many established companies are using crowd funding to expand new product lines or expand into new market. Learn how to evaluate crowd funding options and when this financing vehicle makes sense for your business.
- Unsecured commercial business loans – Most entrepreneurs have used unsecured commercial business loans, credit cards and similar tools to infuse fast cash into their businesses. However, these easy money solutions have a high cost and some risks. We will discuss when to use these for cash influx and more importantly, how to manage the cash and the risk involved.
- Credit unions – Local credit unions have traditionally focused their lending to home owners for remodeling projects and car loans. Today, credit unions have become much stronger financially. With this stronger asset base, they have also become more aggressive in seeking small business clients and lending on commercial projects. We’ll discuss what credit unions look for in commercial loans and if your business would be a good candidate for a small business loan through a credit union.
Why attend this seminar on unconventional financing
You have hear it before, ‘knowledge is power”. This is so true for small business owners. Knowing and understanding your financing options is critical to the success of your business. Finding trusted advisors to guide you through these decisions is also important. Join us to hear Sam insight in the field of small business financing.
If you are contemplating equity, debt, or unconventional financing for your business during the next year, come out and learn about how the landscape has changed and who the winners and losers are!
FREE MEETUP (Lunch is on your own)
Thursday, May 28, 2015 – 11:30a-1:00p
Sherlock’s Baker Street Pub
9012 Research Blvd, Austin, TX 78758
The Austin Small Business Gorilla Operations and Gorilla Finance group has been meeting for almost six years. Many of our members are original to the group, and each week we welcome newcomers. Our goal is to provide business owners with free business education that they can immediate use in the operations of their businesses. In exchange we learn from great local experts and build a strong business network for our members.
Be sure to actually “join” our Meetup, by registering on the site and completing your profile. Each month you will receive an email notice announcing the topic for the month. Stop by for those meetings that interest you and let us know if you have any suggestions on topics or speakers. It’s free to join.
Francoise Luca, Chief Marketing Officer, Business Finance Solutions, is co-organizer of the Austin Small Business Operations and Gorilla Finance Group.