Dallas Deal Day Event Holds Hope for Small Business Funding

The worst time to seek a loan is when you really need one. Deal Day is the most effective way to prevent bad timing by providing small business owners the opportunity to discuss and plan their finances one-on-one with financial funding experts.
By: Patricia Moore
 
Aug. 8, 2011 - PRLog -- The Small Business Administration (SBA), the Dallas Small Business Development Center (SBDC) and local financial institutions will team up on August 18, 7:30am-2:00pm, at the Bill J. Priest Institute for Economic Development on Corinth to coordinate Deal Day to help small businesses owners find funding for their businesses. This free of charge event will feature as guest speakers Dallas Mayor Mike Rawlings and Jack Matthews, developer of South Side on Lamar and the Omni Dallas Convention Hotel. Both will share their perspectives on economic development opportunities in Dallas. Only requirement is to register.

The event, Deal Day, invites over 20 lenders and alternative funding experts such as online investors and micro-lenders to have one-on-one face time with small business owners. For the past three recessionary years, Deal Day alone has managed to facilitate approximately $3 million worth of funding.  Not bad in a credit-tight economy.

So what qualifies a business to be ready? In short, it is stability and the ability to pay the funding back on schedule.   Other factors include supporting the loan with collateral in case of default.  Of course credit is important but a high credit score may not be the leading qualifier for some banks.  Finally, having 1) solid knowledge and experience in the business and 2) a passion for the business, are both very important.  Your business plan alone might not indicate this.  What makes Deal Day so uniquely special and valuable is the opportunity to make a human connection and establish a relationship with a potential funder based on your drive and intellect. Such relationships combined with the above qualifications have assisted many small businesses, even startups.  There’s nothing like planning ahead for financial success.  The worst time to apply for a loan is when you desperately need one.

Begin to establish a banking relationship or two by registering online at http://www.ntsbdc.org or call (214) 860-5865.

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The SBDC is currently the largest management assistance program serving the business ector in the US.
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Source:Patricia Moore
Email:***@dcccd.edu
Zip:75215
Tags:Counseling, Economic Development, Growth, Service
Industry:Education
Location:Dallas - Texas - United States
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