Small Business Development Center
At Chemeketa Center for Business & Industry
chemeketa students

Monthly Archives: February 2009

Business Plan Development and SBA Loan Guarantees

By Chemeketa SBDC

Jimmie Wilkins

The Small Business Administration does not make direct loans. It does, however, provide loan guarantees to banks who lend to small-business owners.

The process is straightforward, although not without a serious amount of research on your part.

You should take your Business Plan to a commercial bank for initial review. (Hint: Start with the bank you already have a relationship with through your business account.) If the loan officer/lender approves the loan subject to an SBA guaranty, the application and the bank’s credit analysis are forwarded by the lender to the SBA office. If the SBA approves, the lending institution closes the loan and disburses the funds. You make your monthly loan payment directly to the lender.

The Business Plan is your opportunity to demonstrate the uniqueness and viability of your business. Your plan should include: (more…)

Helping Laid Off Employees

By Chemeketa SBDC

Jimmie Wilkins

All businesses have ups and downs, and in today’s economy, some employers are faced with downsizing. We are working with many business owners facing this heart-wrenching decision now and we seeing the pain. Many times small businesses feel more like family than work. However, “This is going to hurt me as much as it hurts you” are hollow words to a staff member losing their job. No matter what you do or say, letting employees go is never easy.

If you find yourself here, think of how you can prepare yourself and your staff for this situation. (more…)