SCORE Seminars Set on Exit Strategies
The Sandhills Chapter of SCORE (Counselors to America's Small Business) continues its free seminar series with two offerings next Tuesday and Wednesday, June 23-24.
Both seminars begin at 6 p.m. in room 103 of Van Dusen Hall on the Sandhills Community College campus. On Tuesday, the topic will be "Developing an Exit Strategy." On Wednesday, the subject will be "How to Get a Business Loan."
This highly valuable seminar series is jointly sponsored by SCORE and the Small Business Center of Sandhills Community College. To register for the seminars call the Small Business Center at 695-3938. Registration will also be available beginning at 5:30 p.m. on the day of each seminar.
Business owners, after having invested cash, knowledge, experience and a lifetime of effort in the business, does not want to be without a well-constructed strategy to pass on or cash out the business when the time comes -- by choice or by chance -- to "hang up the sneakers," SCORE said in a news release. They should have thought through the many options of the end game and developed a plan for moving into retirement or a different field.
The Tuesday seminar will review seven exit strategies that cover virtually every situation. It will also provide a background for understanding a key element of the strategy: the true valuation of the business. An aim of the seminar is to make business owners comfortable in making exit strategy decisions and to be able to communicate intelligently with a business broker.
The Wednesday seminar will feature two speakers who will present everything a small business needs to know about obtaining a business loan.
Ray Manuel from the Fayetteville Women's Business Center will review the four Small Business Administration-sponsored Community Express Loan programs. These programs are uniquely suited to those needing a relatively small amount of capital, and two of the programs are exceptional in that they do not require collateral. Every small business startup needs to be aware of this program.
Patrick Mackie, business banker for First Citizens Bank, will discuss the loan process, risk evaluation, credit scores, decision-making, collateral and many other aspects including your questions. His experience and straightforward information will enlighten participants on banking's inner workings.
SCORE is a nationwide nonprofit association of experienced business people who provide free and confidential business counseling to small business owners. The Sandhills chapter is very active in counseling, mentoring and presenting free business seminars.
Anyone wishing to speak to SCORE counselors can register as a client by entering their information at www.edmisscore.org/0364. One of the counselors will contact you.
In addition to counseling by appointment, the Sandhills chapter of SCORE has members available for drop-in service for those who have registered from 10 a.m. to noon every Tuesday at the Moore County Chamber of Commerce building on U.S. 15-501 in Southern Pines. The phone number is 692-3936.
The local SCORE Chapter is always seeking motivated volunteers. More information on SCORE's counseling activity and a complete description of each seminar can be found at www.sandhillsscore.org.
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