NYC Business Solutions Helps NYC Enterepreneurs Become Loan Ready
On September 25th, I was a presenter at a SCORE seminar held at the NYPL: “How to Develop and Implement your Business Plan.” My presentation was on how to develop the financial projections for your business plan, with specific focus on that age-old question: “where do the numbers come from?”
Shelly Nicholas, an account manager with NYC Business Solutions also addressed the audience of 50+ aspiring entrepreneurs. Ms. Nicholas’ presentation reinforced the already favorable impression I had about NYC Business Solutions, and the help they are able to provide aspiring entrepreneurs.
Specifically, NYC Business Solutions helped 404 customers obtain financing in 2009, of which 54% obtained financing from alternative lenders (e.g., Seedco Financial, Accion, Project Enterprise), 29% from banks and 17% from credit unions (e.g., Brooklyn Cooperative FCU, Neighborhood Trust FCU). In 2010 they have been helping customers obtain financing at an even faster pace: 395 in the first nine months.
The NYC Business Solutions website provides details on the steps one should take to get ready to apply for a loan, including: 1) Improving your credit score, 2) Demonstrating sufficient cash flow, 3) Correctly preparing supporting financial documents, 4) Creating a strong business plan, and 5) Obtaining the licenses, permits, etc. you need to run your business. If you live or work in New York City, you can contact NYC Business Solutions and they will help you start, operate and expand your New York City-based business.
