Ft. Worth, FL--Myra Goldick investigates the latest options available to women and minority-owned small businesses for funding with Tim Thompson of The Paragon Foundation for Never Say Impossible Radio.
Minority owned small businesses are on the increase. That is an encouraging fact because with the growth of these new and startup businesses there is the potential to create jobs, which could stimulate the entire economy. However, one of the biggest problems facing these new entities is funding. In order for a business to flourish and expand there must be an infusion of money. That is where the problems begin. During the economic downturn over the last five years, traditional lending institutions literally stopped giving loans to entrepreneurs. This created a crisis for startup companies and forced many out of business.
Are you struggling to find the funds you need to grow your business? Did you not you not find a way around the lending freeze?
If so, take heart, Myra Goldick has good news for you. Despite the restrictions and requirements that banks are demanding, a small business or entrepreneur can find funding if they are willing to visit many lending institutions with a well thought out plan for how they are going to increase their profit margin, therefore repaying the loan within the timeline allowed.
As a woman, Myra Goldick has found that currently there is great opportunity to develop a business even if you have spent your whole life working for somebody else. Change is happening all around us. Recently, Myra Goldick interviewed Tim Thompson from The Paragon Foundation for Never Say Impossible Radio.
Who is Tim Thompson? He is business jprofessional who is been involved in finance for more than 25 years. He has experience in Small Business Lending, Commercial Real Estate Finance, Economic Development Finance and Residential Mortgage Lending. Tim moved to Florida in 2005 from Cleveland, Ohio where he was involved in a number of business, community and civic activities such as Loan Review Committee and Board of Trustees of Growth Capital Corporation (SBA 504), Council of Smaller Enterprises (COSE), and many others. He spent 6 years at SunTrust Bank in Commercial Real Estate Finance and currently serves as Business Development Manager for The Paragon Foundation of Palm Beach County. Tim manages Paragon’s Venture Loan Fund, which is aimed at providing financing for early stage companies and growing small businesses. Tim is a Certified SCORE Mentor/Counselor and leads seminars in small business finance for SCORE and other community development organizations. He is a graduate of Cleveland State University with a BA in Political Science, and a former instructor in Commercial Real Estate Finance at the National Community Development Lending School sponsored by the Federal Reserve Bank of San Francisco.
Would you like to hear what Tim Thompson had to say about today's small business lending options? Visit his podcast on the Never Say Impossible site at http://recordings.talkshoe.com/TC-126304/TS-792850.mp3.