Download - Wendy Baumann, Changing the Mindset and Strengthening the Capacity of Financial Institutions
Changing the Mindset-Financial Institutions and
Effective PartnershipsEffective Partnerships
Wendy K. Baumann, President/ CVO
Statewide economicdevelopment organization
501(c) 3; founded 1987
Offices in Milwaukee, Madisonand Racine/Kenosha
Wisconsin Women’s Business Wisconsin Women’s Business
Initiative Corporation (WWBIC)Initiative Corporation (WWBIC)
and Racine/Kenosha
Local, Regional, National andInternational Partnerships
Emphasis: women, low-wealthindividuals, people of color
MissionMission
Quality Business Education
Access to CapitalAccess to Capital
Economic Self-Sufficiency
We assist men and women!
Business Education & Classes
Creative Financing Solutions
One-on-One Business Assistance
Networking Opportunities
WWBIC’S Primary ServicesWWBIC’S Primary Services
Networking Opportunities
Business Incubation
Business Laboratory via CWC
Make Your Money TalkFinancial Awareness & IndividualDevelopment Accounts (IDA’s)
Business Consulting Services
425+ Workshops and 3,000 unduplicated clients annually
Milwaukee, Madison, Green Bay, Fox Valley, Beloit,Janesville, Racine, Kenosha areas & other
Entrepreneurship, business planning, marketing, financing,bookkeeping
WWBIC’S Business EducationWWBIC’S Business Education
bookkeeping
Experiential, hands-on, guest experts
Social Business Venture-Coffee With A Conscience
Certified CDFI –US Dept. of Treasury(Community Development Financial
Institution)
Direct Lending Programs:
WWBIC’S Creative Financing SolutionsWWBIC’S Creative Financing Solutions
Direct Lending Programs:¤ Microloans¤ Participation Loans with Bankers
Loan Packaging Services:¤ SBA Programs¤ Business Financing Seminars¤ “Can we Talk?” Sessions
We focus our assistance on:We focus our assistance on:
Business owners that can’t borrowBusiness owners that can’t borrowfrom a traditional financial institutionfrom a traditional financial institution
StartStart--up businesses; and those set for growthup businesses; and those set for growth
Gap financing for bankable customersGap financing for bankable customers
Access to CapitalAccess to Capital
Gap financing for bankable customersGap financing for bankable customers
Benefits to the BankBenefits to the Bank
Retention of the customerRetention of the customer
Ability to crossAbility to cross--sell bank servicessell bank services
Referral of bankable customers from WWBICReferral of bankable customers from WWBIC
Giving your customer an alternativeGiving your customer an alternative
Banker credibilityBanker credibility
CRACRA
Real Life ExamplesReal Life Examples
Gap Financing¤ Bank does building and/or equipment financing; WWBIC
provides working capital
Participations with Banks¤ Share the risk¤ Share the risk¤ Allow customer to access
classes and Business Education and Assistance
Turn Downs¤ Don’t say “NO;” say, “WWBIC!”
Diversifying your loan capital sourcesDiversifying your loan capital sources
• A lot of eggs in one basket?
• Maybe better to have a lot of baskets with a lot of eggs!!!
Diversifying your loan capital sourcesDiversifying your loan capital sources
• Changing world and having all sectors at the table
- Government and Public Investors
- Banks and Corporate Investors- Banks and Corporate Investors
Diversifying your loan capital sourcesDiversifying your loan capital sources
- Government and Public Investors
- Banks and Corporate Investors
- Individual Investors- Individual Investors
- Faith-based Investors
Diversifying your loan capital sourcesDiversifying your loan capital sources
• Leveraged support and donated support
- Funds tied to program assistance
- Funds tied to grant support
- Started as an investor and also become a contributor
Diversifying your loan capital sourcesDiversifying your loan capital sources
Diversifying your loan capital sourcesDiversifying your loan capital sources
• A plan…
- Reason why you WANT to diversify your loan capital sources
- Tell the story (past, present, FUTURE!!!)
- Share the numbers (financials, ratios, investment case)
- A prospectus of sorts…!
Diversifying your loan capital sourcesDiversifying your loan capital sources
• The DELIVERY
- In person via a VIP Tour or meeting
- Inquiry and phone conversations
- Mailed proposal
- Email or online proposal
- FOLLOW UP contact!
Diversifying your loan capital sourcesDiversifying your loan capital sources
• FOLLOW UP
- Compliance and Reporting
- Annual (Financial Audit)- Quarterly- Quarterly- Consistent and constant communication
- Constant Contact- Media- Industry news- ??
Diversifying your loan capital sourcesDiversifying your loan capital sources
• ASK again and ASK for referrals of/to other investors
- ASK again for another investment or more
- ASK for contribution support
- ASK for suggestions on who else may have similar interests
- Really banks will suggest other banks and contacts
- Faith based investors the same
- And individuals and good people know other good people
Diversifying your loan capital sourcesDiversifying your loan capital sources
• THANKS AND THANKS AND THANKS!
- appreciation- gratitude- acknowledgement- solid investment
AEO 2009
- solid investment- you will not embarrass the administration
President/ CVOPresident/ CVOThe Wisconsin Women’s Business Initiative CorporationThe Wisconsin Women’s Business Initiative Corporation
National MemberNational MemberAssociation of Enterprise Opportunity Association of Enterprise Opportunity
Opportunity Finance Network Opportunity Finance Network
Wendy K. BaumannWendy K. BaumannWendy K. BaumannWendy K. BaumannWendy K. BaumannWendy K. BaumannWendy K. BaumannWendy K. Baumann
Opportunity Finance Network Opportunity Finance Network The Association of Women’s Business Centers The Association of Women’s Business Centers
SBA National Advisory BoardSBA National Advisory BoardOffice Depot Women’s Advisory BoardOffice Depot Women’s Advisory Board
National Business Incubation AssociationNational Business Incubation AssociationConsumer Federation of America Consumer Federation of America –– America SavesAmerica Saves
[email protected]@wwbic.com
Milwaukee: 414-263-54502745 N. Dr. Martin Luther King Jr. DriveMilwaukee, Wisconsin 53212
Madison: 608-257-5450
Racine/Kenosha: 262-654-1234 Ext. 114
How to Contact WWBICHow to Contact WWBICHow to Contact WWBICHow to Contact WWBICHow to Contact WWBICHow to Contact WWBICHow to Contact WWBICHow to Contact WWBIC
Racine/Kenosha: 262-654-1234 Ext. 114
Website: www.wwbic.comWWBIC Affiliations :¤ Certified Development Financial Institution (CDFI)
¤ U.S. Small Business Administration Microlender
¤ U.S. Small Business AdministrationWomen’s Business Center