NEW: Greenwood Credit Union Presents at RI SBA Conference

Wednesday, July 31, 2013

GoLocalProv Business Team

Holly Pettis, Vice President of Commercial Lending at Greenwood Credit Union, was among the presenters at the RI Small Business Administration’s conference held at the Providence Municipal Building on Monday. Entitled “The Complete A-Z Guide to Borrowing Money for Your Small Business,” the conference was held in an effort to help the many small businesses in need of financing in Rhode Island.

Greenwood Credit Union, the U.S. Small Business Administration, the Rhode Island Economic Development Corporation, South Eastern Development Corporation (SEED) Loan Program, and the City of Providence Economic Development Corporation teamed up to provide small business owners with necessary information and various options available to help secure a small business loan.

Understanding the game

Pettis, a Johnston resident, presented “How Lenders Review Business Plans,” offering attendees the financial lender’s perspective and providing a brief checklist before submitting the document. “When you request a business loan from a financial institution, realize that we want to make sure you, too, are invested in your business…that you have a skin in the game.” She also explained the differences between banks and credit unions, noting that credit unions are not-for-profit institutions where “members serve members.”

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Conference attendees received information about a variety of loan programs from the various participants, as well as individual attention during the Q&A sessions following each presenter’s remarks.
 

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