SCORE Bucks County adds "Where's the Money?" to Seminar Lineup

The message that all businesses will need funding at some point resonated with the wide variety of businesses - ranging from high tech to house flipping to the fine arts - during SCORE Bucks County’s recent “Where’s The Money? A Guided Tour of Funding Options for Startups and Small Businesses” workshop.

Business owner Tara Matthews, of Warminster, who was one of about 60 in attendance, said she gained insight about a new business she’s looking to start.

“I worked in corporate America for years. This was the most well-run meeting that I have ever been to. We kept on target, we kept on schedule,” Matthews said. “The breakout sessions at the end were good because you could speak with the people individually. There was so much information to give.”

SCORE Bucks County mentors Seth Shapiro, Don Brown and Don Goeltz, who were the workshop co-organizers, said small business funding is the second most-requested topic among the local branch of the nonprofit organization’s clients.

“We’re trying to respond to our client base by offering more information on the subjects that they want,” Shapiro said, adding that SCORE has decided to offer the workshop regularly along with its other three core offerings. “The format gave the attendees broad information and general discussions and then they could talk to someone about the specifics.”

The workshop format, similar to other SCORE seminars, included 10-minute presentations from a variety of speakers who discussed everything from crowdfunding, venture capital, angel investors, grants, bank loans, peer-to-peer lending, 401K rollovers, customers, suppliers, friends, family and more. Following the presentations, the audience participated in panel discussions and small one-on-one breakout sessions.

Presenter Larry Poppert, a CPA, discussed micro lending as a funding option. With loans available for as little as $500, Poppert said this type of loan is ideal for someone looking to generate working capital or buy business equipment.

“Someone who’s just starting their business would be a good candidate,” Poppert said, adding that the underwriting can be a bit easier. “The banks usually want to see a lot more history with business loans.”

So far, SCORE has received requests from 14 participants for more information related to the funding options presented, according to Shapiro. That, he said, underlines the topic’s importance to the Bucks County small business community.

SCORE has not yet set a date for the next funding workshop, but plans are underway for an Oct. 24 workshop at the Grundy Library in Bristol. The topic for that workshop, How to Start and Manage a New Business, is another of SCORE Bucks County’s core workshops.

About SCORE Bucks County

Score Bucks County has over 50 members of retired and active business professionals whose mission is to provide free mentoring to Bucks County businesses, assisting them at all stages of their business growth cycle. SCORE has an ongoing series of seminars that are open to the public. Go to www.BucksCounty.Score.org or call (215) 943-8850 to sign up for a free counseling session and to get more information on seminars.