Small businesses are important to the growth and success of Georgia?s economy. They provide economic opportunity by offering greater access to business support services, education, and jobs for owners and employees. Government agencies know that directing spend to small businesses for the purchase of items and equipment that support their mission, research or initiative is a great way to support small businesses.
Most government agencies offer a good deal of information about how to do business with them and list upcoming opportunities. However, the process to sell to the government can be bombarded with requirements that are difficult for a seller to understand, respond to and follow.
To help navigate through the state procurement process, the Department of Administrative Services (DOAS) is excited to present a virtual series of readiness workshops that are targeted to the small business community. These workshops will intertwine the procurement process with essential small business development training on how to increase your business core capability and capacity. Through collaborative efforts with educational partner, the University of Georgia Small Business Development Center Minority Business Development (UGA SBDC MBD), our small business partners and industry experts, DOAS will be able to provide information to small business participants on how to implement human resources, insurance bonding, and other financial considerations that may improve business efficiency in order to achieve its state government contract goals.
Course Outline
Held every first and third Thursday of each month from 9 a.m.- 12:30 p.m.
August 18, 2022 Module I: Contract Opportunities, Marketing & Research Strategies
August 25, 2022 Module II: Business Operations Strategies
September 1, 2022 Module III: Business Operations Strategies
September 8, 2022 Module IV: Procurement Business Development Strategies
September 15, 2022 Module V: Financial Management Strategies
September 22, 2022 Module VI: Small Business Readiness Checklist, Connections & Executive Summary
September 29, 2022 Ceremonial Module: Networking and Small Business Readiness Certificate The loan process for small business owners can be stressful and confusing.
Most lenders examine business loans with an extensive process that includes, but not limited to, a complete review of the business financial statements (past and present), projected financial statements, the business owner(s)/guarantor(s) financial position, personal credit reports, and loan collateral evaluation. By the end of this session, the participants will understand the business loan process, how their personal credit and financial position is viewed by the lenders, how business loans are structured, and understanding of other business loan related items like term sheets, debt service coverage, etc.
Course Outline
1. An in-depth dive into the 5 C's of credit.
2. Key information on understanding your personal credit in the business loan process.
3. Understanding the business loan approval process and the terms/documents associated with business loans.
4. How to develop a strong loan pack and establish solid banking relationships.
5. Q & A
Learner Outcomes
Obtain a better understanding the business loan process.
How lenders view business loans and an understand an outline of the approval process.
Understanding how personal credit/financial position is important as a business owner and loan guarantor.
Tips for developing a better loan package and growing the banking relationship.
Webinar - Georgia DOAS Procurement Readiness Workshop
Webinar - Small Business Loans Deciphered - In-Depth Look into the Commercial Loan Process
