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Join the U.S. Commercial Service and the Illinois District Export Council for Discover Global Markets: Building Smart Cities. This conference for U.S. exporters brings together trade experts, industry professionals, and U.S. commercial diplomats via panels and executive meetings to address opportunities and demand for new technologies to make cities more sustainable. Your firm will leave this conference with the critical next steps needed to transform market potential to market success in markets of interest across the world.
Spotlight on Commerce: George Laws Garcia, Legislative and Intergovernmental Affairs Specialist, MBDA
Guest blog post by George Laws Garcia, Legislative and Intergovernmental Affairs Specialist, Minority Business Development Agency
As part of the Minority Business Development Agency (MBDA) I work to engage Congressional, state and local officials to help create favorable conditions for minority businesses and entrepreneurs to grow and prosper. In this role I have the opportunity to support capacity development in Hispanic and all minority communities to build and grow our own businesses, create good jobs in our communities, provide needed goods and services in our domestic markets, and to utilize our cultural, linguistic and international knowledge as a competitive advantage to export globally.
Given the rapid growth of minority communities in the U.S. and the generational shift in America’s workforce which will soon see us becoming a majority minority nation, the need to support the growth of minority businesses and entrepreneurs has never been more important to keeping America Open for Business. I help shape America’s policy and legislative agenda toward minority businesses through strategic advocacy efforts that, not only raise awareness about the issues impacting minority business communities, but also increase understanding of the importance of minority business growth to America’s domestic and global economic competitiveness.
To Venture or Not To Venture
A Look at Venture Capital
Often times, minority business owners are reluctant to apply for business loans for fear of receiving too little credit, having to pay outrageous interest rates, putting up higher collateral, or total rejection. So, the question is asked – what can you do as a business owner to get the necessary working capital to take your business towards the next level of success?
Venture capital (VC) may be the solution. Simply put, VC is a type of private equity - a form of financing that is provided by firms or funds to small, emerging firms that show high growth potential. VC financing can take the form of debt, equity, or mezzanine financing. Interested in learning more? Visit our website, and discover helpful tips and advice.
The Business Opportunities in Central America Webinar Series will provide valuable insight to new and experienced exporters who will gain knowledge of export opportunities in this dynamic region. Companies will learn about best prospects, legal considerations, global logistics, export financing, eCommerce, leveraging CATA-DR, and export tax incentives in 7 countries in Central America. Participants will also understand and appreciate the cultural differences, economic conditions, and technological capabilities of potential partners.
The decision has been made. You have decided that XYZ bank is the bank-of-choice to lend your company some badly needed capital. Now is the time to pay that banker a visit, right? Wrong.
Once you sit down with a business banker, you will need to answer a variety of questions about your financial needs and business goals. If you do a little homework before hand, answering those questions thoroughly may ensure a smoother, and possibly quicker, loan application process. Below are a few of the questions that most commercial lenders will want answered before your loan application can proceed.