By Hope Belli Tinney Washington SBDC,
PULLMAN, Wash. – When bank loans aren’t an option, small business entrepreneurs often turn to private funders, including friends, family and private investors, for help.
Whether you need $2,000 or $200,000, knowing how to approach potential funders is a critical first step.
Aziz Makhani, a certified business advisor with the Washington Small Business Development Center (SBDC), will present “Tips, Tools and Templates for Private Funding” at Southeast Washington Economic Development’s monthly Cup O’ Joe session, 10-11 a.m. Wednesday, Sept. 13, at Columbia Bank in Pullman.
Makhani will discuss the importance of knowing your audience and how to craft a compelling pitch. During the workshop, he also will present a video of his conversation with Marshall Piatt, vice president of operations at BioCement Technologies, to discuss BioCement’s successful efforts to secure private funding. Lastly, Makhani will introduce a Resource Based Operation financial model; and Private Placement Memorandum and Subscription Agreement — two documents needed to comply with securities regulation.
Makhani, who joined the SBDC in 2015, has more than 35 years experience in the high-tech field and has launched three successful startups. He has an M.S. degree in electrical engineering and an MBA.
The Washington SBDC is a network of more than two dozen certified business advisors working in communities across the state to help small business owners start, grow or transition a business. The Washington SBDC is hosted by Washington State University and receives funding from the U.S. Small Business Administration as well as other institutions of higher education and economic development.