State Small Business Credit Initiative Technical Assistance

To meet the objective of its strategic impact goal to advance economic equity and development of minority-owned businesses in Indiana, IBE has created a capital readiness program to provide accounting and financial advisory services to SEDl-owned businesses and VSBs in Indiana. The goals of the program are to increase businesses’ awareness of the State Small Business Credit Initiative (SSBCI) and to increase the likelihood of businesses obtaining SSBCI capital.

IBE will engage finance specialists and financial and industry experts to provide webinar training and face‐to‐face financial management training. Virtual one‐on‐one counseling sessions and webinar group training are available to you after you sign up for the SSBCI program, just use the button below.

Services Provided

  • One-on-One Virtual Counseling covering topics necessary to prepare for obtaining loans and the effective management of capital.
  • Webinar Group Trainings covering the following topics:
    • The 5 C’s of Credit (Capacity, Capital, Character, Collateral, and Conditions), Capital Readiness Assessment – The financial advisor will share underwriting criteria of individual lenders and a capital readiness checklist to complete which will include criteria such as:
      • Status (specific purpose for financing, estimate of cost to start or expand business, experience in industry/running business, investment of money in business),
      • Personal (credit score, personal assets and liabilities, up to date personal tax filings, monthly household income and expenses, previous bankruptcies, collateral, US citizenship or immigration status, ITIN, felony convictions, garnishments, liens, child support or alimony)
      • Cash Flow (ability to pay bills on time, budget for how to use the loan received, current cash flow will cover loan payments)
      • Accounting & Bookkeeping (accurate financial statements, including balance sheet and income statement; CPA, bookkeeper or accounting system; business bank account; list of business assets and liabilities)
      • Quickbooks 101 Training (fundamentals of setting up a company file to navigating the user-friendly interface, chart creation, client and vendor management, transactions, financial management and reporting)
      • Effectively Managing Capital and Debt (financial health strategies, including the creation and maintenance of a budget, paying down debt strategies, healthy spending habits, tax avoidance and building emergency funds)

Virtual or In-Person Offerings

IBE will offer a hybrid of a virtual one‐on‐one counseling sessions, virtual webinar group trainings, and a full‐day financial management training. IBE can also offer in person advising for Indianapolis and the surrounding counties.

Apply for the Program

To apply for the program, please use the button below. This will take you to a form on the IEDC website.

Register

Program Sponsors & Partners