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Learn about $5,000 to $50,000 microloans for women-owned, low-income, and under-resourced small businesses in California on this week’s free webinar when SBDC director Kelly Bearden is joined by Natalie Del Toro, SoCal Community Development Officer for TMC Community Capital, a Community Development Financial Institution (CDFI).
Del Toro provides details on the variety of microloans TMC offers from $5,000 to $50,000, along with criteria and tips to become loan ready from a lender’s perspective, funded project examples, and more.
Bearden begins the webinar with a recap of the recent capital summit, new court decisions that will affect small businesses, and a look at the economy.
This marks the 322nd episode of the “Webinar Wednesday” business series that provides news and information helpful to employers and business owners.
The CSU Bakersfield Small Business Development Center provides free one-on-one consulting to help small business owners. New and existing businesses can sign up to meet with a consultant at no cost by clicking here!
TIMESTAMPS - The bold blue link below is a direct link to when Natalie Del Toro begins her presentation on Microloans
00:00 Intro
00:35 What’s up today July 10, 2024
02:55 Poll Question #1 “If you are seeking funding, how much do you ideally need?”
05:24 Recap of the Capital Summit
06:15 There is Money for Everyone
11:19 Options for Non-Bank Qualified
12:40 Short-Term Export Credit Insurance Policies for U.S. Companies
13:25 Latest on Beneficial Ownership Information https://www.fincen.gov/boi
14:50 Sign up for our CSUB SBDC YouTube Channel https://www.youtube.com/@csubsbdc
15:20 Membership has its privileges https://csubsbdc.com/get-started
15:36 See what tools the SBDC has for your business
16:47 Vertical IQ – available to SBDC clients at no charge
19:25 Kelly introduces today’s guest, Natalie Del Toro, Community Development Officer for TMC Community Capital
20:44 Natalie Del Toro begins to speak
22:58 Impact and Businesses Funded
24:03 Eligibility – No Minimum FICO Score
26:00 Loans Offered and required documents
29:24 Small Businesses Helped: Todo Verde and Little Sprouts Language Immersion Preschool
31:39 The 5 Cs of Credit
32:22 Character
33:12 Credit Score - Get free a copy of your credit report at https://www.annualcreditreport.com/index.action
36:52 What We Ask For
40:07 Capacity
42:04 What We Look For
44:37 Collateral
45:51 Capital
47:05 Conditions
48:46 Recommendations
50:38 How to apply with TMC Community Capital - https://tmccommunitycapital.org/
51:59 Kelly rejoins Natalie for Question and Answer with attendees
