local small business administration W r i t i n g

local small business administration W r i t i n g

PICK ONE

Choose one (1) from the following three options to complete
your Short Assignment 3 – Interview an SBA Representative, Venture
Capitalist or Incubator Manager.

Incorporating the following questions of each option for your
response. Scroll down to the bottom you’ll see the grading rubric for
each of these assignments.

Note: The intended
interview outcome of SA3 is for you to learn from a hands-on individual
who possesses knowledge and experiences in their fields. If you are
unable to successfully set up an interview for the assignment, please
document your steps taken in your report to justify a research-based
analysis for your submission.

Option 1 – Interview an SBA representative

Contact and interview a local Small Business Administration (SBA) representative.

  1. Describe the overall process of obtaining a small business loan.
  2. What levels of funding are available through the SBA?
  3. What criteria does the SBA establish to qualify applicants for loans?
  4. What reporting is required of the borrower?
  5. Are there special programs for minority owners, and how does one qualify for such programs?
  6. How long does the approval process take?
  7. What is the success rate of SBA loans?
  8. What are the characteristics of successful loan applicants?

Option 2 – Interview a venture capitalist

Contact a venture capitalist and conduct an interview addressing the
relationship of the new and small business with venture capital
companies. Such a relationship is most appropriate when large amounts of
capital are required and expected growth and return rates are high.

  1. In what types of companies does the firm invest?
  2. What criteria does the firm use to decide whom to fund?
  3. What criteria does the firm use to decide on the funding amount?
  4. What is the typical background of a venture founder and management team?
  5. What is the success rate of the companies in which you invest?
  6. Describe the process of securing funding.
  7. What financial information is required of the lender?
  8. What controls are used by the venture firm to help ensure the
    company’s success? That is, does the firm have any membership
    requirements of the board of directors? Restraints on the use of cash
    and receivables?
  9. How long does the funding process take?
  10. What are the characteristics of successfully funded companies?

Option 3 – Interview an incubator manager

Contact the manager of an incubator and conduct an interview.

  1. In what types of companies does the firm invest?
  2. What criteria does the firm use to decide whom to fund?
  3. What criteria does the firm use to decide on the funding amount?
  4. What is the typical focus of the incubator?
  5. What is the success rate of the companies in which you invest?
  6. Describe the process of securing funding.
  7. What financial information is required of the incubator?
  8. What controls are used by the incubator to help ensure the
    company’s success? That is, does the incubator have any membership
    requirements of the board of directors? Restraints on the use of cash
    and receivables?
  9. How long does the funding process take?
  10. What are the characteristics of successfully funded companies