What are CDFIs?
In this newsletter
- Veteran Launch update
- Credit Tip
- Advising Corner: Deciding to Borrow Money
- Meet our Clients: Millennium Family Entertainment Center
- Welcome to our newest clients
Veteran Launch Summer Update
As our fiscal year comes to a close, we’re thrilled to share that we’ve funded 51 loans to veteran-owned companies, totaling $6.2 million. Our work continues to grow throughout the state, as we form new partnerships, meet new veteran small business owners and their families, and help more businesses start and grow.
Click here to download our 2017 flyer, and please forward it to any veterans and military spouses you know who may need support for their small business.
Follow us on social media to see news about our clients and our work.
Advising Corner: Deciding to Borrow Money
Veteran Launch is a program of Main Street Launch. Main Street Launch’s Senior Vice President – Business Advising Paula Groves offers the following small business tip.
To borrow or not to borrow, that is the question.
Deciding to borrow money is certainly a technical decision. We worry about things like:
1. My credit score has gone down recently.
2. I don’t have any collateral.
3. I doubt I will qualify.
Borrowing money is also an emotional decision. Our stomach turns over at thoughts like:
1. Why haven’t I been able to figure this out yet?
2. I already borrowed money, why do I still need more?
3. Everyone told me not to try running my own business.
These types of anxieties make many of the online options that show up in your inbox very tempting. They often allow you to borrow money without telling anyone.
But these solutions come at a high price and have hidden costs you might not be aware of.
Click here to read the full post.
Meet Our Clients: Millennium Family Entertainment Center
When sisters Sara Core and Amy Wilder first started telling people about their dream to create a place for families to come and have fun together, they weren’t taken seriously. “It made us work harder,” remembers Sara. “We were working part-time and mostly stay-at-home moms, but we knew that you don’t have to be a millionaire to start a million dollar business.”