Newly-opened Small Business Flex Fund program offers low-interest loans to small businesses and nonprofits
The Washington State Department of Commerce this week launched a new Small Business Flex Fund. The Fund is a public-private partnership aimed at helping small businesses and nonprofits – particularly those in low-income communities – recover and grow as communities reopen for business. Gov. Jay Inslee in November 2020 approved a foundational investment of $30 million for Commerce to create a recovery loan program. Commerce is partnering with several financial institutions and community-based organizations to lend $100 million or more to small businesses and nonprofits with fewer than 50 employees and annual revenues of less than $3 million.
Qualifying businesses and nonprofits can apply for loans up to $150,000. Loans are available in 60- or 72-month loan terms at interest rates between 3-4.5%. The Fund works with and through local Community Development Financial Institutions (CDFIs), which serve under resourced communities and underbanked businesses the Small Business Flex Fund aims to help. Interested applicants pre-apply on the Flex Fund’s online portal and, if they qualify, will be matched with a lender. Once matched, the participating lender will assist the business owner throughout the application process and provide additional advisory support. If a business doesn’t qualify, they will be connected to a trusted community organization that can assist with finding other resources. For more information and to apply, visit smallbusinessflexfund.org.
Date: Tuesday, April 6, 2021 Time: 3 – 4 p.m. Via: Zoom (link to be provided) Register Here
Ever wonder if your company’s information is on the dark web?
Credential hacking, email phishing, the dark web–all are increasing threats to businesses these days. The global pandemic brought business a slew of challenges, not the least of which is fast-changing security issues. With many companies turning to remote ways of working, they’re increasingly relying on virtual activities like email, meetings, and remote access to systems. And each hold a unique set of security risks. This presentation will outline those risks as well as provide tips on how to mitigate them (and some even remove altogether). Continue reading →
Accelerate Kitsap (https://acceleratekitsap.weebly.com/) is a recently relaunched non-profit organization focused on providing education, information and guidance to budding entrepreneurs and emerging start-up and existing small businesses in Kitsap County and throughout West Sound. The organization will be updating its web site and adding new board members in the months ahead.
The path to business ownership is an exciting journey. As you embark on your journey, you need a few things to successfully reach your destination. First and foremost, you need a good roadmap or GPS to successfully navigate your way.
The SCORE Startup Roadmap, sponsored by FedEx, guides your journey, from your business idea through opening your doors to customers.
Whatever startup route lies ahead of you, the Startup Roadmap provides direction along the way. It will help you chart a course to success, minimizing detours and dead ends so you can get to your goal faster. This Roadmap will take you from the initial step of defining your business idea through your ultimate destination: launching your business. In each chapter, we’ll teach you what you need to do and give you the resources and expertise you need to get it done. Continue reading →
Viewing this webinar requires some basic information. This data is only used within SCORE and will not be distributed to any third parties.
A key to starting and building a successful business is planning. Sometimes, a business plan is required, but it’s not always the answer to creating a successful business. Sometimes, you need to think lean.
In this session, SCORE Mentor David Terrell will walk you through a Lean Canvas to help you create a “blueprint” of your business. He will provide practical tips and tools and teach you how to:
Determine the key categories of starting, testing and growing your business
Identify your target customers and what you need to do to get them to buy from you
Recognize your customers’ problems and how your product or service will solve them
Communicate your value propositions that set you apart from your competition
Test your solutions and get valuable feedback
Determine your cost structure, runway and revenue streams
Monitor key metrics to determine your business’s initial and ongoing success
The SCORE Business Learning Center (SBLC) provides aspiring and existing small business owners the business strategies and tactics needed to make sound decisions and achieve greater levels of success.
The SBLC supplements the business resources available on score.org. It fills the gap between the high-level content on our website and the personalized expertise obtained from a mentor.
At the end of a course, users will feel they have a better understanding of their chosen topic and the resources available for continuous learning. They will also have a mentor they can work with to apply the learning to their business.