Idaho SBDC Technical Assistance
Capital Access Team
The technical assistance is backed by funding from the US Treasury state small business credit initiative (SSBCI). SSBCI is designed to spur investment to businesses under 10 employees and businesses operated by owners from underserved communities. Support for Idaho’s Capital Access Team IS provided by the State Small Business Credit Initiative Technical Assistance Grant Program (SSBCI TA Grant Program).
Partner with the Idaho Small Business Development Center and meet 1:1 with a consultant in your region to support the launch and growth of your business with this complimentary technical assistance.
Creating Your Idaho SBDC Capital Access Team Bank Plan
The Idaho SBDC Capital Access Team uses bank plans to package the most important data lenders review when making decisions about funding a loan.
A bank plan, different from a business plan, outlines the following:
- The purpose and use of the loan
- How you plan to repay
- Your profitability and cash flow
- How your business stacks up against industry data.
- Bankers typically skim over parts in your business plan like exciting marketing strategies and focus more on finances. The bank plan packages some of the most crucial financial data for bankers to easily review.
Components of your bank plan:
- Business Opportunity
- Use of Funds
- Your Timeline
- Projections and Assumptions
- Business and Personal Tax returns
- Credit Score and Credit History
How the Technical Assistance program helps business owners:
- Guides them to navigate the loan process, prepare their loan applications, and determine what loan products, if any, will be the best fit.
- Builds legal, accounting, and financial management skills
- Increases awareness of state-backed capital and collateral support programs for small businesses applying for capital
- Designed to spur the approval of new business loans to the state’s smallest and most vulnerable business-owners
The State Small Business Credit Initiative (SSBCI) doesn’t specify a credit score requirement for loans, but other requirements for small business loans include:
- Complete, professional business plan
- Complete bank statements and ratings
- Complete business balance sheets
- Complete business cash flow statements
- Collateral/Asset assessments
Lenders consider a business’s personal credit score when evaluating a loan application to determine if the business can manage its finances and has the income to repay the loan.
Idaho SBDC Technical Assistance Tools
Within the Capital Access Team, there will be ongoing key activities which are the core of the Idaho SSBCI Technical Assistance initiative.
- Webinars
- Live Trainings
- Events
- Partner collaborations
- Educational Courses
- Networking
- Consulting
