Providing Small Businesses With Access To Capital
The stats are undeniable. Small businesses employ more than half of the private sector workforce and created nearly two-thirds of net new jobs over the past decade and a half. Drill down further to new businesses and start-ups, and their outsized economic contributions are magnified.
But these numbers only tell you what you already know: that independent shops, restaurants, service providers and start-ups are the backbone of your city’s economy and the heart of your city’s distinct character.
Unfortunately, however, access to capital has been and continues to be a key impediment to growth for these businesses. Traditional loan and grant programs are tough to find, especially for young businesses and for entrepreneurs who face added barriers. Many report not being able to expand their business, complete existing orders or hire.
The National League of Cities, with support of Wells Fargo, an NLC Capstone Corporate Partner, is hosting this summit to provide local economic development and small business development staff with the tools and resources they need to connect small and young businesses with financing opportunities. The program will focus both on the foundational strategies every economic developer should have in their toolbox, as well as emerging strategies that are gaining traction in cities across the country (see “schedule” tab on left for detailed agenda).
Event Audience: Economic development, small business development and other city staff and leaders interested in improving access to capital for small businesses in their community. Participants will earn six NLCU credits for attending this one and a half day session.
The Crossroads Art District is a unique area of the city burgeoning with entrepreneurship, innovation, arts and culture. On this mobile tour, participants will visit three entrepreneurship support organizations, Sprint Accelerator, Think Big Partners, and Office Port, and engage with leaders of the organizations to learn what really matters when it comes to growing and retaining businesses in the city.
Reception at Sprint Accelerator
Breakfast and Registration
Discuss the diversity of the small business landscape, financing needs and key roles of local government in closing the access gap.
Jason Rittenberg - Council of Development Finance Agencies
Participants will learn the toolbox of financing strategies with a focus on increasing the capacity of new or disconnected businesses to access traditional loans, including credit enhancement, business skills training, collateral support, and revolving loan funds.
Panel discussion facilitated by Wells Fargo on small business access to capital in the KC Region.
Participants will learn the key components of a wide variety of capital access strategies, including microlending, crowdfunding, angel capital, and state and federal programs.
Structured and facilitated roundtable discussions focused on both foundational and emerging strategies to allow participants to dive deep on those they may consider for their community.
Full group discussion on actions needed to take these strategies home to your community. Reflect on lessons learned and discuss tangible ideas for next steps.
Intercontinental Hotel Kansas City (401 Ward Parkway)
Kansas City, MO
Book reservations by September 15 to receive the group rate of $149 plus tax per night. Book online here
. Click on “view rooms & rates” and enter dates. The next page will then display your group rate. Guests may also call toll free number at (866) 856-9717 and refer to National League of Cities group. Parking is available.
Book your room
Council of Development Finance Agencies
Jason Rittenberg oversees CDFA’s research activities and technical assistance services. He has managed numerous projects and initiatives at the Council, including strategic plans, white papers , and national coalitions for specific development finance concerns. Example projects are the State Finance Agencies White Paper, a SWOT analysis and strategic plan for the Development Finance Authority of Summit County, the Clean Energy + Bond Finance Initiative, and the State Small Business Credit Initiative Coalition. He also serves as CDFA’s Revolving Loan Fund Course Advisor.
Mr. Rittenberg previously worked as a Research Specialist for the State of Ohio where he conducted performance reporting and a return on investment report for the state’s workforce programs. He has led and conducted numerous research projects and is a co-author of News on the Internet: Information and Citizenship in the 21st Century. Mr. Rittenberg has a Master’s Degree in Communication from the University of Illinois and a Bachelor’s Degree in Communication Studies from Ohio University