Funding & Growing a Small Business
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Lincoln Economic Advancement and Development (LEAD) webinar – Wednesday August 21, 2024 from 2pm to 3pm
You will receive a link to the webinar when you register
Financing your small business operations whether you are starting up or trying to grow is tough and can be confusing to those with little background in finance. According to trends by the U.S. Bureau of Statistics, over 50% of small businesses will fail before their fifth year of operation. Only 30% survive to their 10th year and these failure rates have remained consistent for decades. Often failure is due to lack of cash flow and the inability to access capital. Understanding what criteria lenders are looking for and understanding the pros and cons of financing options is key to any small business’ success.
Join Pam Schallhorn, Extension Specialist for Funding and Growing a Small Business on August 21 2024 at 2pm. In this workshop, participants will learn about a variety of both traditional and non-traditional business financing options, including some examples of ways communities can get involved. Learn how to prepare your business for success by understanding what financial options are available to you and when and how to use them.
“Finding ways to finance small businesses has been my focus for several decades as both a commercial lender and an SBDC Director. With many businesses struggling after the pandemic, understanding how to find capital becomes even more crucial. Interest rate increases, supply chain issues and inflation make it imperative that your business has access to the capital it needs whether you are starting up or trying to grow”, Pam Schallhorn, Extension Specialist - CED.
The Speaker
Pam Schallhorn is a Extension Specialist in Community and Economic Development with the University of Illinois. Before coming to Extension, Pam was a commercial lender for over two decades, as well as, Director of the Small Business Development Center in Rockford, IL. Her teaching and research interests include entrepreneurial development, creative economies, reversing outmigration, rural resiliency and cultural awareness. She holds a master’s degree in Political Studies and a bachelor’s degree in Finance.