Small Businesses Work With York and Banks for Funding

York College Small Business
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York College’s Small Business Development Center is hosting a series of seven seminars aimed at helping small business owners navigate banking and financing issues.

The conferences are designed to bring together bankers and small business owners for open discussions about money and credit. It also teaches students how to work in the current business climate.

“Our goal was to create a formula for success that will enable businesses to grow whereby they can create jobs,” said Valerie W. Samuel, a business advisor with the Small Business Development Center at York. “We thought making the connections to bankers would be a perfect fit.”

The talks are temporarily scheduled to take place at various banks within southeast Queens and include topics such as being a young entrepreneur.

“The information will connect businesses with key banking contacts that will help shape their companies into bankable enterprises,” said Samuel.

Ryan Parchment, 24, thinks informing small business owners about loans gives them opportunities. Parchment, a junior at York and the president of the Accounting Club, believes that for small businesses to get funding it’s more difficult than for the larger companies.

“Since there are more smaller businesses it’s more beneficial for them to succeed against the large companies,” said Parchment.

Loans and financing programs through the U.S Small Business Administration for expanding businesses and exporting products’ information will be offered. Accounting major Mohammad A. Jamil feels the seminar will prove to be a great opportunity.

“Being able to see what factors are taken into account will give us a better understanding of what it takes to establish a business,” said Jamil. “Networking with bankers, along with information from the U.S. Small Business Administration will help the entrepreneurial students in their endeavors to create their own business.”

The seminar will also offer topics on credit reports and credit scores, buying a commercial building and small business franchise funding. Jamil said it will provide students with an opportunity to network with individuals who are seeking well educated employees/business partners for their start up business.

“Indeed it will help us if we want to start a business or invest in a project,” said Gaitrie Nandalall, a Business Administration major and the secretary of the Accounting Club.

Nandalall felt that the seminars for accounting and business students are a necessity. “There are so many benefits to these seminars,” said Nandalall. “Seminars focus on the designated topic and can be more explained than in a classroom. We are able to get the insights of the business world through these speaker….it’s a great place to get in contact with others who might share similar ambitions as that individual.

“It provides us with guidelines for a productive future. In today’s world, we are faced with various business [problems] and these business seminars allow us to break down any misunderstanding we may have and understand the business field better and how to protect ourselves financially,” he said.

The Money Mondays are scheduled from Oct. 20 through Dec. 15. Locations for the seminars will vary. There is no charge to attend the conferences, but students are required to pre-register at the York College Small Business Development Center located in the Science Building Room 107.  Attendees are welcome to bring friends and are invited to come with questions.

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