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Finances: Did You Know?
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Financial Words of Wisdom

With today’s economy there are a lot of people being laid off from their jobs.  It doesn’t matter if the people have a vested interest in the company; there is still a possibility that they could be laid off.  Well all is not lost.  There is light at the end of the tunnel.  Could this be a sign that this is the time to reinvent yourself?  For those of you that have decided to take a “proactive” approach and have an interest in becoming an entrepreneur or business owner due to this economic pinch, these financial tips are for you:

Did You Know:

  1. That money is still available for small businesses?
  2. That there is still a need for non-profit, as well as, for profit companies?
  3. That your bank may have internal programs to help finance your business?
  4. That local community banks did not get caught up in the banking disaster, are still a viable resource and still lending out money?  Visit the branch nearest you.
  5. That the rules have changed for FICO Scores?  See how your score affects your lending ability.
  6. That in order to obtain a loan your FICO Score should be at least 660, you must have verifiable income, ability to repay and invest at least 15-25% of your own money?
  7. That SBA is not a lender nor has money; however, they offer various SBA Loan Programs to help you?   Visit the branch nearest you.
  8. That there may be angel investors interested in investing in your business?

Words Of Wisdom To Survive This Economic Pinch: 
Get back to basics.  Think out of the box.  Embrace joint efforts.  Make the necessary sacrifices.  Reinvent yourself. 

Vernita Naylor, Ft. Worth SCORE
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Recognition: Thank a Volunteer
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National Volunteer Week: April 19-23

SCORE honors our volunteer biz mentors who donate more than 1 million hours each year to help create and save jobs by helping entrepreneurs succeed.

Who are SCORE Volunteers?
SCORE’s volunteers are successful business professionals who volunteer their time to mentor small business owners. They come from a variety of occupations and backgrounds. Many owned small businesses for years, while others worked for Fortune 500 firms. Many SCORE volunteers continue to work as corporate executives or own their own businesses.  They span all generations and minority groups. This variety of backgrounds and skills adds value to the quality of SCORE’s business advice. All of our volunteers are here to help entrepreneurs succeed.

How Can SCORE Volunteers Help Me?
Since 1964, SCORE has helped more than 8.5 million aspiring entrepreneurs and small business owners through counseling and business workshops. More than 12,400 volunteer business counselors in 364 chapters serve their communities through entrepreneur education dedicated to the formation, growth and success of small businesses. Nationally, SCORE provides free and confidential business counseling to more than 375,000 small business clients each year.

How Do I Get Started?
Start on your path to success. Connect with a SCORE counselor.

SCORE Association, SCORE
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SCORE
For 50 years, SCORE has helped aspiring and current small business owners achieve their dreams. Through a network of over 11,000 volunteer business mentors in 340+ chapters across the country, SCORE connects decades of business experience and knowledge with those who can best use it.
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