Reference no: EM132028876
Option 1 - Interview an SBA representative
Contact and interview a local Small Business Administration (SBA) representative by asking the following:
Describe the overall process of obtaining a small business loan.
What levels of funding are available through the SBA?
What criteria does the SBA establish to qualify applicants for loans?
What basic reports are required of a borrower?
Are there special programs for minority owners, and how does one qualify for such programs?
How long does the approval process take?
What is the success rate of SBA loans?
What are the characteristics of successful loan applicants?
Option 2 - Interview a venture capitalist
Contact a venture capitalist and conduct an interview by asking the following. Such a relationship is most appropriate when large amounts of capital are required and expected growth and return rates are high.
In what types of companies does the firm invest?
What criteria does the firm use to decide whom to fund?
What criteria does the firm use to decide on the funding amount?
What is the typical background of a venture founder and management team?
What financial information is commonly required by your VC firm?
What controls or supports are used & given by the venture firm to help ensure the company's success?
How long does the funding process take?
What are the characteristics of successfully funded companies?
Option 3 - Interview an incubator manager
Contact the manager of an incubator and conduct an interview by asking the following.
In what types of companies does the firm help/invest?
What criteria does the firm use to decide whom to help/fund?
What are the typical focuses of the incubator in helping a company?
What controls are used by the incubator to help ensure the company's success?
What are the most challenging tasks any business incubators may encounter?