Learn Online: Financing Your Business

Find the money and resources to fund your business or the business you dream about.

This course will provide: 

• Financing options
• The Financing Model will give you a visual and written step-by-step process for developing a strategy to finance your business. From personal assessment to the loan proposal it provides a process to obtain your loan.
• Programs and resources for you to successfully fund your business.
• Examples from agencies and organizations are provided to facilitate the process as well as provide background on sources of funding expectations.
• Federal, state and local agencies that provide resources for building and growing a business are identified. The federal programs range from business counseling to loans, and even in certain cases grants. Local agencies and organizations are important because of the proximity and availability of those resources. In many instances these services are free or a nominal fee is required.

 

If you already own a business or you are thinking about one, this course is your best source to build your business. Instructor feedback based on experience will be the direct connection to accomplishing your dream or just learning about it for a future project or business idea.

 

Students should have had several basic business courses. Business seminars and classes that provide a basic understanding of financing and business management terminology be helpful in taking this course.The U.S. Small Business Administration and the SCORE web page are good overall resources.

Goal: To provide an overview of the financing process for business development.
Objective: To assist current and prospective business owners in making financing decisions about their business.

Reading material will be located in the class netlinks, lessons, assignments, announcements and discussions. Primary reading will consist of the Six Lessons on Financing Your Business.

A 100 point grading scale with Six Exams required for the award of Certificates. Since each Exam is 10 questions each question will be 10 points. To pass the course requires a 70 score average

This course is intended as an overview for financing a business.

I. Introduction - Roles and Resource Background
a. Overview of Financing Your Business
b. Goals and Objectives -- How this course can assist you in developing your business?
c. U.S. Small Business Administration role
d. State Economic Development Agency role
e. Current and Prospective Business Owner role
f. Entrepreneurship
g. Terminology
h. Planning -- importance

II. The Financing Process Model
Initial Factors to Consider -- The Financing Process Model
1. The Financing Process Model
a. Determine the skills you have -- Personal Assessment
b. Personal Financial Statement
c. Feasibility Analysis
d. What assets are needed to operate the business?
e. Commercial Credit Criteria - Considerations for evaluating financing and government loans will sometimes be more lenient about bad credit.
f. Government Loan Programs
g. Structure the Loan
h. Loan Proposal
2. Unlock the door to financing
a. Could Management Experience satisfy the lender? -- Personal Assessment
b. Does the Personal Financial Statement (PFS) give you enough equity &collateral? -- PFS
c. Does a Feasibility Analysis meet the ability to pay factor for the lender? - Repayability
d. What assets are needed? -- Part of the collateral required by the lender
3. Open the door to financing with the Financing Process Model -- an overview of the process presented in this lesson.
4. Government Loan and Incentive Programs -- Example North Carolina

III. Structure the Loan
1. Source/Purpose
a. Examples
b. Sources of Funds
c. OPM
2. Legal Structure and Loans
3. Terms of a Loan
4. Considerations for Evaluating a Loan
5. Revolving Loan Funds
6. Role of the Commercial Lender
7. What you can get from Government to assist your business?
8. Advantages and Disadvantages of State and Local Loan Programs

IV. The Loan Negotiation Process
a. Restrictions on loans
b. Legal Documents
c. Reasons for loan rejection
d. Financial management after a loan
e. Financial Statements 1. Three Levels

V. The Loan Proposal
1. The Loan Presentation
2. Survey of small business funding sources
3. Local Government, CDC's and EDO's

VI. Review