New Year Offers Overview of Business Funding Options

The new year is often when entrepreneurs look to start businesses or existing businesses plan to expand operations. Many times, funding is vital to startups and early business growth.

For new businesses or enterprises where the owner has less than the required down payment, or a poor credit rating, obtaining traditional bank funding is sometimes difficult, if not impossible.

In those and other instances, the Small Business Administration can help. On Jan. 24, Jeffrey Pugh, SBA Loan Officer at Univest Bank, will lead a Webinar Wednesday session for SCORE Bucks County. He will discuss some of the ways the SBA can assist Bucks County businesses and entrepreneurs in starting and expanding their businesses.

SCORE Bucks County mentor Richard Kroger, who worked for 30 years in the business financing industry, including 10 years as an SBA lender, offers the following tips for business owners in need of capital:

· Be sure to have an acceptable business plan.

· Research available lending options where you do your personal or business banking and find out the borrowing criteria.

· Review your personal credit report in advance of meeting with lenders. This will give you time to address any issues with your credit history.

To learn more

SCORE Bucks County will offer a Webinar Wednesday on Jan. 24 at noon about Small Business Administration assistance for small businesses. To register, or for more information, click here: https://form.jotform.com/62322...