Issue link: http://www.insightdigital.biz/i/222066
up on the latest SBA changes or its paperwork, so that's where his company steps in. Quick Start partners with financial institutions and presents them all of a business' paperwork so it's ready to go. Vogelsang says the SBA changes do make it more attractive for lenders to back small businesses, but that "it's still a little more difficult for start-ups to get funding. There's a lot of regulations lenders need to follow before a loan can be approved. We've done a few start-ups in the past year, but nowhere near where it had been. I do think waiving that fee for loans smaller than $150,000 will definitely be a help." Beyond the banks As lenders have tightened their belts, small business owners have become more creative in securing funding, turning to other organizations for help. The Advance Microloan Program started in 2011 and has 25 active loans worth $615,000, says program director Laura Gille. Started by Advance, the economic development arm of the Green Bay Area Chamber of Commerce, the program pools money from area financial institutions that want to work together to support entrepreneurs and small businesses in the area. "It can take quite some time for startups to find funding in this economy," she says. "People need just more than a good idea – they need to have a business plan or even a prototype made if they want to sell something so they can take it around and show they've given a lot of thought to their business idea and how to make it work." The Brown County Microloan Fund usually provides financing in concert with financial institutions, Gille says. "Let's say someone needs $450,000 to get their business started, but can only secure $400,000 through a bank loan. We can come in and help with the remaining $50,000," she says, adding the fund's loans range from $5,000 up to $100,000, with an on the web » Advance Microloan Program: www. titletown.org/microloan » Fox Valley Technical College's Venture Center: venturecenterwi.com » SCORE: greenbay.score.org average amount of $25,000. Just like a bank, Advance Microloan Program takes a close look at the business plan, checking for three years of financial expectations, personal and business tax returns and more before taking the company's request to the loan committee. "We want to make sure we are making solid decisions," she says. Revolving loan funds are another source for businesses looking for capital, Nelson says. Municipalities or counties typically have revolving loan funds in place to help businesses expand or get off the ground. "The funding is out there. You just have to know where to look and examine all the options," Nelson says. Inspired by Innovation We are committed to taking a unique approach to guiding you through your legal issues. BROOKFIELD | GREEN BAY | MADISON | MILWAUKEE | OSHKOSH www.dkattorneys.com w w w. i n s i g h t o n b u s i n e s s . c o m D e c e m b e r 2 013 • Insight | 33