Philadelphia

More Information on where to find money (investors, venture capitalists, etc from SBA Conference)

  • 1.  More Information on where to find money (investors, venture capitalists, etc from SBA Conference)

    Posted 10-11-2021 06:42 AM
    When I attended the SBA Conference, discussion surrounding Venture Capitalists and Investors.  The panel were mostly women and diverse entrepreneurs who are currently looking for ways to get funding for their business.  They were sharing their "how to" based on their experience, industry and expertise.  I was able to take down notes of some of the tips shared, I am sharing with all of you.  The themes I heard is the opportunities open due to the pandemic and equity, allowing for increased access to funding.  Networking and community involvement was another to gain partnerships and/or referrals; including, help-how to get funding.  

    I hope the information will help all of us.  Best of luck! 
    So, here it goes:

    • Institutional VCs (Venture Capitalists) are looking for Real World Solutions.  Are you solving the planet needs? if this is your entrepreneurial situation, then research VCs for funding.  Make sure that you have legal representation when asking for VC funding to protect you, your business and the expected return on investment from VCs.
    • Angel Investors 
      • can be strategic investors
      • crowdfunding - example Republic, First Boulevard
      • Black Girl Ventures - Shelly Bell
    • Family and Friends (this can be both positive and negative, tricky to navigate sometimes)
      • Recommend to have a contract between you and family/friends
      • If rejected, it's okay for the health of the relationship
    Tips when looking for Capital (funding):
    • Research your local bank - Credit Unions, TD Bank
    • Figure out what Capital you need now & later
    • Network (Relationship Building)
    • Value added to the community
    • Percentage of your company paying for the life of the investment
    • No HELOC (not recommended)
    Other suggested tips:
    • Take Accelerator Classes
    • Build Reputation
    • Provide Value
    • Financial Projections (P & L, Sales Projection & Cash Flow Analysis)
    • Dunns & Brad Street number to build credit
    • Grant Information

    Best,
    Sharon

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    Sharon Johnson
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