Recap of Alternative Financing workshop

The Chicagoland Entrepreneurial Center hosts an Accelerator Series of workshops on issues of sales and finance for small businesses.

This morning, they held an "Alternative Financing Avenues for Small to Mid-Sized Growing Companies...When the Traditional Banks Say No".

The workshop emphasized that small businesses should be conscious of what kind of business they are. Optimal alternative financing choices will vary depending on the growth tendency, risk type, and working capital needs of your business. Here are a few of the business types that were described:

• High-growth
• Leveraged
• Start-up
• Marginal earnings
• Cyclical
• Working capital-intensive (e.g., payroll, wholesale inventory purchases, etc)
• Capital intensive (e.g., equipment)

The types of financing that were described include:

• Mezzanine funding
• Factor financing
• Purchase order financing
• Equpiment financing
• Traditional asset-based loans
• SBA and RDA lending

There are several other great events coming up at the CEC this Fall, including:

Successful Relationship Networking
Thursday, October 5

Contemplating Equity Capital
Tuesday, October 10

Do you communicate your message in a clear, concise, and compelling manner?
Thursday, November 2

Lead First, Solve Second, Sell Later: Aligning Leadership with Solution Selling
Tuesday, November 14

For more information, visit www.chicagolandchamber.org/CEC