Specialized financing help offered to businesses in Metro Detroit by Small Business Administration

The U.S. Small Business Administration's Michigan District Office, in conjunction with the Michigan Small Business Development Center is bringing Getting to Yes! to Metro Detroit.

The program is a unique initiative developed to help area small business owners get the financing they need to grow their businesses. It was created in response to concerns of business owners who found it difficult to access capital for a variety of reasons. Getting to Yes! is based on four phases-education, consultation, mock loan preparation, and individual meetings with lenders.

"This unique approach to preparing for the loan process greatly improves the probability of accessing capital," said SBA Michigan Deputy District Director Constance Logan. "Participants will develop a comprehensive loan package, get a chance to rehearse their pitch in front of a panel of lenders, and gain access to a wide variety of traditional and alternative lending institutions."

Recent graduate, Domenic Maiuri, CFO of Nora Contracting said, "Getting to Yes! gave me access to 13 lenders in one day. That's something I would never have without the program." The company's line of credit was significantly increased after meeting with commercial lending experts.

Participants should have two years of successful business operations, be willing to commit to the entire program during which they will complete a business plan with detailed financial projections. Business owners in Metro Detroit who meet the basic criteria are encouraged to apply. There is no charge for the program.

The program begins October 1 and concludes December 1. For additional information on how to apply, contact Catherine Gase at catherine.gase@sba.gov. Application information and program details can be found at http://www.sbdcmichigan.org/2015/08/06/getting-to-yes/.

Published: Fri, Aug 28, 2015