How Businesses Use Credit

Description Money Matters: According to the U.S. Small Business Administration, over 50% of small businesses fail in the first year and 95% fail within the first five years. But what's the main reason? According to score.org, the number one reason small business fail is cash flow. Mention those two little words to almost any small business owner, and you'll almost always see them cringe. Attendees will gain the opportunity for interactive dialogue with seasoned bankers in the small to medium enterprise and large commercial space. Collectively with over 40 years of banking experience, these individuals will share valuable strategies for business credit planning. If you are looking to better understand business banking services, financial statements, the steps necessary to develop a business plan and responsible usage of business credit, this 4-part series is the best place to start! Pt 1: Business Banking Services & Financial Statements April 12, 2019 | 9 a.m. to 11:30 a.m. Common types of business accounts Account insurance Opening a business account - document checklist Using business debit and credit cards effectively Merchant processing services Financial statements and balance sheets Profit and loss statements Cash flow statements Cash position reports Pt 2: Developing a Business Plan May 23, 2019 | 9 a.m. to 11:30 a.m. My business priorities How lenders and investors use business plans Writing an executive summary Writing a company description Defining your management and organization Understanding the market Performing a competitive analysis Describing product/services lines Building a sales and marketing strategy Developing financial projections Building the business plan Pt. 3: How Businesses Obtain Credit July 30, 2019 | 9 a.m. to 11:30 a.m. Defining creditworthiness The 5 C's of credit Other considerations by lenders Building and maintaining good credit Business credit scores Credit health plan