| US$ 15 million ADB grant to develop enterprises
26 November, 2007 - The Asian Development Bank (ADB) is extending two grants totaling USD 15 million to support the development of micro, small and medium-sized businesses in Bhutan, according to an ADB press release on November 21.
USD six million will go into establishing an integrated policy, strategy and institutional framework, which will be released in three equal tranches over a period of three years, and USD nine million will be used to extend credit to the small enterprises, supporting their development and facilitating programme implementation. �Like other developing countries, limited access to financing is a major constraint in doing business. It is more so in Bhutan, particularly for micro and small businesses,� said Chia-Hsin Hu, economist for the financial sector of ADB�s South Asia Department, adding that the constraint is mainly due to extremely high collateral requirements and low banking intermediation.
Summit targets small-business owners
A free informational session on business financing for small-businesses owners will be held in Honolulu Dec. 5. Hawaii-based mortgage banking company Meridian Financial Network is sponsoring its first Small Business Summit, which it plans to hold annually. The company, a U.S. Small Business Administration-approved lending institution, said the half-day session will help familiarize small-business owners with both in-house and government loan programs, including SBA loan programs. The SBA offers loan programs to help small businesses obtain financing when they might not be eligible for conventional bank loans because of a lack of financial history. Speakers at the session will include Andrew Poepoe, director of the SBA's Hawaii District office; Jim Tollefson, president and CEO of the Chamber of Commerce of Hawaii; and Keith Ogata, director of S.C.O.R.E.
ASK SCORE: Financing your business
QUESTION: I am interested in starting a business in Collier County, but have limited financial resources. What are my options for obtaining a business loan? Benjamin W., Naples ANSWER: Benjamin, yours is one of the most common requests we receive. If your resources are limited, it is doubtful that you will be successful in securing a conventional business loan from a bank. However, there are a number of other available options you may consider: The Small Business Administration (SBA) makes guarantees for various types of business loans. Visit the financing section of the SBA's Web site to learn about their various products. See their finance planning section at www.sba.gov/smallbusinessplanner/start/financestartup/index.html The SBA has a special section for women entrepreneurs at: www.sba.gov/services/specialaudiences/women/index.html.
Small business center helped to create 453 jobs
Delaware's Small Business Development Center is credited with having a positive impact on the state economy, according to the recently released Association of Small Business Development Centers Impact Study.Statistics from the study show the Delaware SBDC helped create 453 full-time jobs and assisted in retaining 194 jobs.The local SBDC helps generate $1.96 in tax revenue for every $1 spent on the program. For each dollar spent on the SBDC program, it was leveraged into $5.94 of public and private financing.The study also concluded that, in percentage terms, SBDC clients' increase in sales was higher than the increase in sales experienced by other comparable Delaware businesses, a remarkable 33 percent compared to 6.1 percent.In terms of satisfaction, 95 percent of Delaware Small Business Development Center clients said they would recommend the SBDC services to other business owners.
Financing expert to share business start-up tips
Even the best business plan needs start-up money. That's why York Technical College's Entrepreneur Network will host financing guru Bill Payne at 6 p.m. Tuesday to present "Let's Make a Deal -- Financing Options for Entrepreneurs." Payne, an engineer who started his own electronic materials company in the 1970s and sold it 12 years later to DuPont, now makes his living investing in start-ups and speaking to entrepreneurs. Tuesday, his free presentation will offer advice on how local entrepreneurs can get the capital for their ideas. "There's a whole sequence on where you go to get the money you need," Payne told The Herald on Tuesday. "If you need $5 million, you don't go to friends and family." Payne said he'll explain how to approach family and friends for small investments.
Yodle Raises $12 Mln In Latest Financing - Update
(RTTNews) - Monday, online lead generator, Yodle Inc., announced that it has raised $12 million in a round of financing. The new funding is the second round of successful financing for the quickly growing New York based start-up. The funding was led by Draper Fisher Jurvetson, with existing investor Bessemer Venture Partners also participating in the round. Yodle said it has aimed to make buying online ads simple and easy for small businesses and to offer a high-performing, cost-effective alternative to the outdated Yellow Pages, previously the standard for small business advertising. Court Cunningham, CEO of Yodle, said, "Today, 63 percent of consumers primarily search for local businesses online; Yodle is tapping this enormous advertising market to drive customers to businesses in a way that has never been done before.
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