MBDA 2026 Getting Loan Ready
MBDA 2026 β Business Training Series
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Session 3: Getting Loan Ready
This lesson helps entrepreneurs answer a question that will come up several times over the life of your business, from launch through growth phases: βIs my business ready to borrow money, and if not, what specifically is missing?β
Throughout the course, you will learn the four things every lender evaluates, also known as the "4 C's"; the difference between debt, equity, grants, and bootstrapping; what a lender actually reads in a loan file; and what borrowing money actually costs.
You will leave the course with a completed Capital Readiness Self-Check and an action step you can take towards enhancing your capital readiness.
Objectives:
- Define capital readiness and identify its four components
- Distinguish among debt, equity, grants, and bootstrapping methods of securing business funds, and recognize when each fits a business
- Explore personal and business credit, and what moves a credit score
- Calculate and interpret the cost of borrowing money, including APR
- Recognize and avoid predatory lending
- Complete a Capital Readiness Self-Check and name one gap with a specific action step
As you register for trainings in this series, please note they are offered at no cost through the Minority Business Development Agency (MBDA). Our funder requires participants to attest that they received services. After completing the training, you will receive a document from WESST requesting your signature. Thank you for your cooperation in helping us continue to provide free training to all entrepreneurs.
Reasonable accommodations for persons with disabilities and language assistance services are available for limited English proficient individuals. Please notify Marcela Mendoza at 505-246-6900 when you register for the class, or no later than 48 hours prior to your class, so that WESST can make sure necessary accommodations are available. All programs and services are provided to the public on a nondiscriminatory basis.
The Women's Business Center is funded in part by the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.
Speaker(s): Sean Stambaugh, M.Ed., Training Specialist, WESST
Co-Sponsor(s): MBDA (Minority Business Development Agency) Capital Readiness Program
Please Note: THIS CLASS IS BEING OFFERED ONLINE. AN INTERNET CONNECTION AND A COMPUTER (or highly capable tablet-type device) ARE NECESSARY. Video conferencing instructions will be sent to you after you have registered for the class. This training class will be delivered in English.
Fee: No Cost
Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.
All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.
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