LIMA, Ohio (WLIO) - Local small business owners and entrepreneurs getting educated on financing opportunities.
State Bank sponsored a lunch and learn at the Rhodes State College Borra Center for small businesses on public and private financing opportunities both in the state and here locally. Guest speakers from Allen Economic Development Group, the Lima/Allen County Chamber of Commerce, and more gave resources and presentations on effective ways for the businesses to build their financial portfolio and use loans and grants.
Andy Farley of State Bank works with small businesses all the time and says these lessons can help business owners avoid typical pitfalls.
"Many times, small businesses think that, 'Oh, I can just go do this and put it on a credit card', or they do something that doesn't really help their business maintain its growth and give themselves a better budget," said Farley, who is Senior Vice President and Market Executive for State Bank. "The programs that were mentioned [Thursday] all have specific needs and terms that allow them to do financing of equipment or working capital properly."
To find out more information about small business financing options you can log on to the Ohio Small Business Development Centers' website.
