SBDC unravels mystery of business loans

Gabriela del Angel

Thursday, October 2, 2014. AARON HUMES Reporting: For businesses, the most nerve-racking part of getting off the ground is obtaining financing.

The Small Business Development Center (SBDC), an arm of BELTRAIDE, hopes to take some of that nerve away by reaching out to business owners through regular workshops.

Today’s was called “How to Obtain a Loan.”

Workshop facilitator Gabriela del Angel of SBDC says today’s participants were introduced to the ins and outs of preparing to obtain a loan for business, including planning from the moment of conception to that meeting with the banker.

Fortunately, the SBDC has come through with assistance for small businesses and entrepreneurs through events like this one and the one-on-one relationship between prospective businesses and the advisors at the center.

Darva Rodriguez

There was participation from officers of a local credit union and the Development Finance Corporation, whose credit officer, Darva Rodriguez, tells us that they are prepared to work with all businesses to remove concerns about not being able to obtain financing.

The DFC offers loans for small business enterprises, productive sector loans for major businesses and other specialized loans.

At the DFC, loans smaller than $10,000 do not require collateral or a co-signer and the Corporation works with SBDC to help applicants work through their presentation.

For larger loans, one or two co-signers may be needed and sufficient collateral put up depending on the size and purpose of the loan.

SBDC’s workshops are held on a regular basis at its offices on the University of Belize campus in West Landivar, Belize City.

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