Financing For Small Businesses

Posted Date: 
December 19, 2012


Vice-Chair Judy Stephenson welcomed the MCCC members and introduced this morning's speakers, Stephanie Fenner, Senior Manager, Aronson, LLC, John Halley, Assistant Vice President, M&T Bank and Douglas Parker, Vice President M&T Bank.
Stephanie Fenner began with her presentation on "Securing Your Business Financing". She spoke about how important it was to develop a good relationship with your business advisors, to avoid pitfalls. Fenner spoke about the different types of financing including debt financing and equity financing. She walked the group through the ways to determine what the best financing option is for different types of business. She reviewed the key sources of funding, like working capital, economic development incentives, and friends and family. Finally, Fenner discussed the elements of an effective business plan to demonstrate that your new business is a good risk for funders.
John Halley and Douglas Parker spoke next on the topic of "What Should You Expect from Your Banker?" Haley spoke about the many different services your banker can offer you. He spoke about the bank funding business capital expenditures like your business' vehicle fleet, as an example. Halley stressed e importance of building a strong relationship wi your banker. Halley and Parker discussed important business decisions like Leasing vs. Owning Commercial Real Estate. They discussed strategies and suggestions for business banking.
MCCC members asked questions about planning around the fiscal cliff's possible impact on businesses and other policy impacts on local businesses. 
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MCCC Strategic Partners