Local Financing Institutions Speak to Small Business Owners

On Wednesday, December 3rd, 2008, from 9:00AM to 11:00AM, the Washington, DC Economic Partnership will host a sold-out BusinessPremier program to discuss strategies to be best positioned for business loans, and conventional and non-conventional loan programs available to small businesses.

Panel speakers include:

Antonio Hunter,
Assistant Director, Business Opportunities & Access to Capital
Department of Small & Local Business Development

Bill McDevitt
Group Vice President, Business Banking Division
Chevy Chase Bank

Davey Wiggs
Lead Business Development Specialist
US Small Business Administration, DC Office

Timothy Flanagan
Program Director,
Washington Area Community Investment Fund

The national economy has changed drastically within the course of the last few months significantly effecting global and local markets. This is particularly impacting to small businesses and entrepreneurs in need of outside sources of financing to establish or expand their operations. In 2005, the US Chamber of Commerce conducted research on funding sources used by entrepreneurs and small business owners. It found that, aside from personal savings (81%), primary financing tools included bank loans, credit cards and other credit based products (home equity loans, and revolving credit, etc.). In an environment with limited cash and credit, entrepreneurial dreams and expansion opportunities can be deferred or completely derailed. The culmination of such can significantly impact real estate absorption, employment, and sales & use taxes and personal income tax collection, among other key economic stimulators. Though the credit market is limited, there are opportunities for financing. This panel will discuss strategies for obtaining conventional and un-conventional financing.

For more information, please contact Natalie M. Cofield, Director, Industry & Business Development at 202-661-8679.