Wendy Baumann, Changing the Mindset and Strengthening the Capacity of Financial Institutions

transcript

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!!!

• Changing world and having all sectors at the table

- Government and Public Investors

- Banks and Corporate Investors- Banks and Corporate Investors

- Government and Public Investors

- Banks and Corporate Investors

- Individual Investors- Individual Investors

- Faith-based Investors

• Leveraged support and donated support

- Funds tied to program assistance

- Funds tied to grant support

- Started as an investor and also become a contributor

• 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…!

• The DELIVERY

- In person via a VIP Tour or meeting

- Inquiry and phone conversations

- Mailed proposal

- Email or online proposal

- FOLLOW UP contact!

• FOLLOW UP

- Compliance and Reporting

- Annual (Financial Audit)- Quarterly- Quarterly- Consistent and constant communication

- Constant Contact- Media- Industry news- ??

• 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

• 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

wendy.baumann@wwbic.comwendy.baumann@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

Wendy Baumann, Changing the Mindset and Strengthening the Capacity of Financial Institutions

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