Staten Island SBDC Connects Small Businesses with Lenders at Inaugural Fall Into Financing Event
Small businesses looking for lending options took advantage of the Staten Island Small Business Development Center’s inaugural Fall into Financing Small Business Lending event on Oct. 6.
The Staten Island SBDC, hosted by the College of Staten Island, held the inaugural event at CSI’s Performing Arts Center that attracted 10 lenders. Empire State Bank, M&T Bank, Valley Bank, and the U.S. Small Business Administration (SBA) served as the main sponsors. Accompany Capital, Apple Bank, Ascendus, Hebrew Free Loan Society, TD Bank, and Square were also present.
Small businesses and aspiring entrepreneurs spent the evening visiting different tables to speak with lenders about their services, requirements, and other updates.
“Many Staten Island SBDC clients cite financing as one of their main needs. Hosting this event allowed small businesses and entrepreneurs the opportunity to meet and speak to various lenders in one setting to learn what’s available,” said Staten Island SBDC Regional Director Michael Anderson. “Each lender has different requirements and rules, so speaking to a lender directly can help provide clarity.”
The event also featured the panel, “What Do Lenders Look for in a Potential Client?” which also touched upon tips to improve your credit score, the importance of market research and business plans, and how to determine how much money a borrower actually needs to request. Anderson moderated the panel, which featured: Troy A. Diaz, Lender Relations Specialist with the SBA; JoAnn Puma, Vice President, Business Relationship Manager at Empire State Bank; Emma Mazzaferro, Vice President, Senior Branch Manager at M&T Bank; and Mark Giacalone, Vice President, Business Relationship Manager for Valley Bank.
“The panel was a great discussion breaking down what is needed when you apply for lending. Borrowers sometimes aren’t sure of the process and what is actually needed when they meet with a lender. The goal is to receive money as quickly as possible, so if you’re prepared about what’s needed, this can speed the process,” said Anderson. “Having these four panelists provide their expertise and knowledge was a great addition to the event. We know people walked out of that panel with some questions answered.”
The Staten Island SBDC and its host campus have shared a tremendous partnership since its launch in 1993, and that continued for this event. Representatives from the Lucille and Jay Chazanoff School of Business, which earned accreditation last fall from AAC
SB International and placed the School among an elite six percent of business schools worldwide, were present to highlight their teaching, research, curriculum development, and student success. Nine students from the Chazanoff School of Business served as Ambassadors for the evening by greeting attendees, speaking with attendees and lenders, attending the panel, and assisting. Those students were: Akanni Allen, Joel De La Rosa, Michael Gardella, Fariha Jawad, Aislinn Pavia, Gianna Schlagel, Elan Smolansky, Cynthia Sozzani, and Elisa Ujkashi.
“Not every small business has the answers. There’s always more to learn. We wanted the Lucille and Jay Chazanoff School of Business to show why it's a solid local choice for small businesses and aspiring entrepreneurs to continue their education. Plus, we see many children of small business owners thinking about college and eager to learn about business, so this was a great opportunity to show them they can receive this quality, accredited education in their own borough,” said Anderson.
CSI freshman and Chazanoff School of Business student Anastasia Makharadze served as the event photographer.
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