Financial Basics for You & Your Business
VWEC invites you to join us as we continue our Money Mondays: Financial Basics for You & Your Business. This 9-week hybrid series is designed to empower small business owners to effectively address both their personal and business finances, garnering an understanding of the need for proper management and separation of both as well as the potential to build wealth for themselves, while accessing/maintaining capital for their business.
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VWEC understands the challenges faced by small business owners to grow their business; which often times, results in overlooking or literally disregarding personal financial goals. The truth of the matters is for many small business owners your personal finances play a critical role in access to capital.
Most people are working to live; not living to work. Positioning your finances; both personal and business, will allow you to create and maintain a balanced life, where you can enjoy your finances with confidence you’re prepared for an emergency, building an appropriate pool of funds for healthcare, personal development, celebrations, vacations, and retirement.
Presented by:
Joel Carrington-Elony, Senior Vice President,
Dallas-Fort Worth Business Development,
Cadence Bank
VWEC is addressing the root issue with information you can immediately use to improve your ability to access capital
Plan now to obtain a clear understanding of your business credit standing.
1) What's your current score?
2) How to monitor changes and/or make corrections?
3) Strategies to improve your business credit; and ultimatey your ability to access needed capital?
With a strong business credit standing, you can create a safety net for your business. Solid business credit can support owners in obtaining capital needed to expand, support day-to-day expenses, inventory purchases, hire staff, and conserve on-hand cash.
The Nav American Dream Gap Survey, revealed of small business owners surveyed, 45% did not know they have a business credit score, 72% did not know where to find information on their business credit score and 82% didn’t know how to interpret their score.
Do these statistics represent you?
“There is a disconnect in the market that is extremely detrimental to small business owners,” said Levi King, Nav co-founder and CEO. “We’re seeing a trend toward laser focus on more paths for access to capital, but this isn’t addressing the root issue. The baseline availability of credit is only valuable if small businesses can access it and secure good interest rates and terms. Managing creditworthiness is vital to success here, and no one’s addressing it.” https://www.nav.com/blog/half-smb-dont-know-business-credit-scores-exist-1587/
9-Week Series
Building Savings & Wealth - February 24th
Increase Cash Flow & Manage Debt - March 3rd
Preparing with Proper Protection - March 10th
Your Health & Wealth - March 17th
Understanding Asset Accumulation Strategies - March 24th
Credit Analysis the Connection between You & Your Business - March 31st
This workshop entails the following:
Pre-Survey, Agenda, and Learning Objectives
The Big Picture: Credit Reporting and My Business
The Impact of Personal Credit on My Business
Business Credit Reporting
How Lenders Evaluate Your Creditworthiness
Credit Reporting and Business Operations
Post-Survey and Evaluation
Fulfilling Long-Term Goals - April 7th
Designing Your Financial Strategy - April 14th
Securing Your Financial Partners Expo - April 21th
The first 15 participants who attend the full series; complete all homework assignments; schedule at least two one-on-one mentoring sessions with VWEC during the 9-week period; and submit a written financial strategy to meet their long-term personal/business goals, will have access to a small financial grant to support the implementation of their plan.
