Many of the volunteers of the Miami Dade chapter have served as CFOs of private and public companies. Other members have had long term careers as CPAs. We also have bankers, investment bankers and financial analysts who serve as counselors and workshop presenters. These qualified mentors assist the small business owners in the packaging of both conventional and SBA guaranteed loans. The finance committee members review the loan packages and direct the clients to the best institutional resources on a case by case basis.
Although many of the traditional lenders will not consider loans to start-up businesses, there are some lenders that specialize in loans to new companies. Knowing where to go and understanding the underwriting requirements for each lender can save time for a prospective borrower. Miami Dade SCORE has many success stories of local businesses that have taken advantage of the contacts developed by the counselors with the active players in the debt market.
One important caveat to be considered in the process of seeking financing for a business is personal credit. Many prospective borrowers do not qualify because of credit issues. We offer workshops to help you understand what influences your credit score, the available sources of financing for your business and the process of applying for a loan. To learn more about our upcoming workshops, click on Local Workshops or on the Calendar icon on our home page.