Financial Education Videos Now Available

Community Capital Resources in collaboration with the Town of Greenburgh presents an 18-hour course in “How to Write a Business Plan”.
A business plan is critical to your business success and growth, especially in a weak economy. This six-session course will help you write a comprehensive business plan. Those who complete the course are eligible for free one-on-one business plan counseling, credit counseling and low interest business start loans. This is a free course with a $50 materials fee. The six course sessions will be held on:

September 27th, October 4th, 11th, 18th 25th and November 1st
6:00-9:00 pm
Town of Greenburgh
177 Hillside Avenue
Greenburgh, NY
10607

This course is funded by the Webster Bank, Empire State Development Corporation and the SBA. For information and registration contact:Tamara Underwood (914) 747 8020 x 16 or tunderwood@ccrhv.org

Community Capital Resources in collaboration with the Mount Vernon Chamber of Commerce presents an 18-hour course in “How to Write a Business Plan”.
A business plan is critical to your business success and growth, especially in a weak economy. This six-session course will help you write a comprehensive business plan. Those who complete the course are eligible for free one-on-one business plan counseling, credit counseling and low interest business start loans. This is a free course with a $50 materials fee. The six course sessions will be held on:

November 2, 11, 16, 23, 30 and December 7, 2011
6:00-9:00 pm
Mount Vernon Public Library
28 South First Avenue
Mount Vernon, NY 10550

This course is funded by the SBA and CitiBank. For information and registration contact:
Tamara Underwood (914) 747 8020 x 16 or tunderwood@ccrhv.org

Financial Education Videos Now Available

CCR is delighted to announce that they have completed eight videos on personal money management topics that are of concern to consumers. Working with a grant from the New York State Banking Department, CCR along with a committee of financial advisors created scripts on fundamental financial practices that consumers need to know more about. Each video is an eight to ten minute short story that provides great information about the topic under discussion in an entertaining and engaging way. The topics include basic banking, debt management, budgeting and savings, retirement and investments, home purchase, home maintenance, credit cards and credit reports. The videos, which are available in English and Spanish, each have a discussion guide which can be used to guide group discussions about the topic areas.
View Videos in English - View Videos in Spanish

Entrepreneur of the Month !

Entrepreneur of the Month: Sunny Cover of Peekskill Coffee House has launched a new product line! Mrs. Cover has added delicious warm breakfast and lunch panini and hale & hardy soups to her already highly successful mix of coffee, ambience and attention to customer service. “Introducing another profit center that required an entirely new product line has been a challenge. I have tried to make these changes in stages so that the already established flow of service would not be negatively affected,” says Mrs. Cover. “A successful business should have the ability to make changes as needed. I believe you can only do this if you have a stable, structured system. Training, systemization, delegating, communication and empowering your employees are extremely important. This gives you the time and ability to focus on how to make your business more successful," observes Mrs. Cover. www.peekskillcoffee.com/

Tips for Running Your Business in a Recession – Martin Zeliger, CCR Business Coach

During my 30 plus years experience as the owner of a small business that manufactured and sold custom window treatments and custom upholstered furniture, I had the unpleasant and daunting experience of guiding my business through three recessions. With that in mind, I would like to offer some tips on how to guide your businesses through the current difficult times.

Examine all expenses, large and small, and see if you can find ways to cut costs. Every dollar that you don’t spend is a dollar that you’ve earned. All non-fixed expenses should be reviewed. Ask yourself “Do I really have to spend this money? Is it essential to my business? Does it make me any money?”

Now here is the surprise. You should also review all fixed expenses. Talk to your landlord. Sometimes rent can be renegotiated. You may want to indicate to him or her that you are struggling to make the rent, and if you have to close your business, she may have difficulty in these tough times to rent out the space. Everything should be considered negotiable by you.

Sure times are tough and business might be down, but clients and suppliers can smell blood. Everyone prefers to do business with successful enterprises. Put on a happy face, and stay optimistic. Present yourself and your business in a positive manner.

During this period of time, when most people are pessimistic about business, a promotional luncheon, or breakfast or wine and cheese event for your clients to promote your business might be an excellent and inexpensive way of letting them know that you have every intention of staying open and are optimistic that you can make it and even flourish during these tough times

Small businesses are finding it increasingly difficult to get financing due to the current economic and banking crisis. The number of Small Business Administration (SBA) backed loans disbursed by banks has fallen by 30% over the last 12 months. Banks are cutting lines of credit to existing businesses and new businesses have little chance of obtaining such lines.

Microloans are all the more important during this credit crunch. Microlenders like Community Capital Resources (CCR), the SBA intermediary microlender for Westchester, Rockland, Putnam and Dutchess counties, have their doors wide open to borrowers. Since the beginning of 2008, CCR has lent to a range of businesses including restaurants, a nurse staffing agency, a children’s clothing business, a green cleaning product supplier and a home renovation company. It currently has several applications in the pipeline from businesses in Dutchess, Rockland and Westchester counties.

“Businesses and start-ups are under pressure. And like banks, we too are seeing a fall in creditworthiness and caution on the part of business owners. We work carefully with loan applicants to structure a loan that is affordable while also ensuring that the loan will take the business to the next level. CCR is a patient lender. In the last quarter we assisted several loan clients whose businesses were experiencing a fall in sales by adjusting payments and loan terms,” says Kim Jacobs, Executive Director, Community Capital Resources.

It is a distressing fact that over 60% of those who are facing foreclosure on their homes never even contact their lenders. A number of factors including embarrassment, frustration and a sense of hopelessness make many people believe that there is little they can do to hold on to their homes. The good news is that in many cases, those who have fallen behind are able to work out a plan with their lenders and to hang on to their homes. If you would like more information about the foreclosure process and how it can be prevented, click here.

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