Borrowing money is one of the most common sources of funding for a small business, but obtaining a loan is not always easy. Learn how you can gain access to locally owned and managed banks, lending institutions and venture capitalist firms at SBN’s networking event, Connecting Business to Local Capital. Join SBN for the opportunity to chat with an array of representatives from local financial institutions to learn more about funding possibilities for your business.
Not sure if financing is right for your business? Ask fellow member, and Financial Advisor, Harvey Sacks! Meet with Harvey at the event or schedule a complimentary financial planning session (the first consultation is free to all members!).
At Connect to Capital, you will have the chance to:
- Learn how lending organizations and banks evaluate loan applications & the kind of funding they can provide
- Discuss your own business issues with representatives
- Enjoy good company & delicious BBQ provided by the event’s food sponsor, Streetside BBQ
Attending Financial Representatives:
The Women’s Opportunities Resource Center (WORC) is a Community Development Financial Institution which offers one-on-one financial literacy training, business plan development courses, and micro-loans to woman and minority owned businesses throughout the Philadelphia region. WORC primarily seeks to promote economic self-sufficiency through providing capital and technical assistance to small business owners who are struggling to attain financing due to a poor credit score or lack of collateral. WORC offers a variety of loan products ranging from $500 up to $35,000.
Finanta is a non-profit community lender that targets low- and moderate- income entrepreneurs in Philadelphia and provides loan products and business technical assistance. They offer four types of business loan products: microloans up to $50,000 for existing businesses and $15,000 for start-ups, small business loans ranging from $50,000-$100,000, lines up credit up to $100,000, and American Street Loans for $250,000 and above.
The Merchants Fund provides matching grants for up to $20,000 to established businesses and stablilization grants up to $10,000 that help small businesses remain stable and viable in the face of economic challenges.
The United Bank of Philadelphia offers commercial term and construction loans, and commercial mortgages in the Greater Philadelphia Region, with a special sensitivity to women and minority business owners.
The Untours Foundation assists in alleviating poverty by providing low-interest loans and equity to individuals and organizations who create employment, housing and valuable goods and services in economically challenged communities.
Ben Franklin Technology Partners makes direct investments in promising, technology-oriented companies throughout the Commonwealth to fund critical commercialization activities and growth needs.
The Enterprise Center provides business technical assistance and helps small businesses with poor credit history or lack of collateral obtain loans from $2,500 to $50,000 for start-up capital and business growth. TEC is a CDFI and SBA Microloan Intermediary with a focus on minority and woman owned businesses.
Entrepreneur Works dispenses a variety of loan products to entrepreneurs for start-up purposes and to meet the financing needs of existing businesses. They provide several loan products ranging from $500-$25,000 to a broad array of entrepreneurs and business owners with special attention to providing financial literacy and building business to business relationships. Entrepreneur Works offers a loan partnering and referral program to businesses seeking an excess of $25,000, and a peer loan program, which allows members of peer groups to apply for loans without a credit check, collateral requirement, or the approval of the loan committee.
The Philadelphia Industrial Development Corporation (PIDC) is a non-profit, joint venture between the City of Philadelphia and the Greater Philadelphia Chamber of Commerce. PIDC plans and implements real estate and financing transactions by developing and managing public and private resources. PIDC provides small businesses with gap loans, working capital with a term loan option or a line or credit, and financing for companies that lack access to capital.