Free Access To Capital Workshop Offered By WBDC

STAMFORD — The current financial crisis has adversely affected every sector of the US economy, and small business is no exception. Frozen credit markets can make it impossible to get a loan to start a new business or expand an existing one.

Access to capital is a major problem for businesses trying to expand into new markets as well as start ups. As a result, business owners often turn to credit cards, which is a very expensive way to get capital.

According to the Center for Women’s Business Research, women business owners who obtained capital persevered, making an average of four attempts to obtain bank loans or lines of credit and 22 attempts to obtain equity capital. Access to capital is a key tool in the start-up and growth of successful women owned businesses.

The Women’s Business Development Council (WBDC), a leader of entrepreneurial training for women in Connecticut, is hosting a new program: Access to Capital — Alternative Small Business Loan Options. Representatives from the WBDC and a panel of commercial bankers and nonbank lenders will discuss opportunities for clients to secure capital for their business.

The next session is scheduled for Tuesday, March 6, from 6 to 8 pm at the University of Bridgeport, Stamford Campus, 5 Riverbend Drive, Stamford. Attendees will gain an understanding between traditional and nontraditional lenders, sources for alternative loans and the requirements needed to qualify.

“Access to capital and access to markets are two of the most important drivers for business growth and expansion in today’s economy. It is critical that business owners know their options so they can go about their business and create jobs for our state,” said Fran Pastore, CEO, Women’s Business Development Council.

There is no charge to attend the session, but registration is required. Register online at ctwbdc.org or e-mail Aiesha Mclean at AMclean@ctwbdc.org.