Dozens of local entrepreneurs recently gathered at the Lorry I. Lokey Graduate School of Business at Mills College, to receive hands-on, tailored advice on how to access capital and grow their businesses. On July 12, 54 entrepreneurs were paired with expert financial advisors to participate in our one-day educational workshop, called Path 2 Cash.
Path 2 Cash is designed to help entrepreneurs understand the different types of financing that are available to small businesses, which type of capital may be the most appropriate for them, and what it takes to secure different kinds of financing.
Over the course of two hours, entrepreneurs had the opportunity to take a deep dive into their financial statements and growth strategy, in order to identify where they are on the Path 2 Cash. Each entrepreneur left the session with practical action steps to take toward securing a loan or equity financing for their business.
“Path 2 Cash catapults your knowledge and takes you to the next level of understanding in your business,” said Ernest Nee-Nueh Nortey, President and Co-Founder of Kube Nice Cream, a company that produces frozen desserts from raw coconut cream. “We have action steps we can take advantage of this afternoon, that we can build on right now.”
Path 2 Cash is made possible by the support of several sponsors and partners, including New Resource Bank, Community Bank of the Bay, Working Solutions, and Beneficial State Bank. Additionally, our pro bono advisors are critical for delivering these highly valuable programs for entrepreneurs.
For Path 2 Cash, all advisors were financial experts, including bankers, investors, attorneys and tax professionals. Advisors prepared for the sessions in advance, and came prepared to ask thoughtful questions and contribute toward solutions for the entrepreneurs.
“My advisor was attentive, detailed, and offered great, direct feedback. She checked in with how I felt about the suggestions,” said Elizabeth Foggie, Founder, CEO and Director of People’s Studio, an interdisciplinary arts lab and media production company. “I feel 1000 times more prepared now than before I arrived.”
ICA Fund Good Jobs is committed to providing high-quality education, advice and resources that entrepreneurs can use to strengthen their businesses immediately, in the pursuit of creating good jobs.