Whether it’s small business planning, market development, access to capital, record keeping or general business consultation, the University of Georgia Small Business Development Center (UGA SBDC) can assist business owners in any stage of their growth.
Lending institutions are also discovering the benefits of working with the UGA SBDC.
Josh Walton, a former banker and now district director at the UGA SBDC, sees the mutual advantages that the UGA SBDC and lending institutions can provide each other. Together, the UGA SBDC and lenders work to help achieve the common goal of helping business clients obtain working capital.
“When putting together loan packages, there are certain things lenders need that the SBDC can help their borrowers produce, like market information, industry comparable data, financial projections and analysis,” said Walton. “Lenders can use these informational resources to help make good credit decisions.”
In addition to helping the lenders, these resources help the borrower as well.
“When we work with our UGA SBDC clients to help them produce these materials for the lender, it really makes the client a more educated business owner,” said Walton.
COLONY BANK + UGA SBDC
Educating clients on business plans and financial projections
Charles Gillis, vice president of small business lending at Colony Bank, agrees. Colony Bank has locations throughout Georgia, so when Gillis comes across clients who need assistance with behind-the-scenes business tasks, he refers them to the UGA SBDC.
“At least 50% of our customers are not educated enough in business financials,” said Gillis. “Our client may run the business well but may not know how to put together a business plan, projections or assumptions. This is where the UGA SBDC has been a very valuable tool for me to guide them through that process.”
Gillis connected with Darrel Hulsey, director of UGA SBDC’s International Trade Center, through the U.S. Small Business Administration….
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