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Wednesday, June 09, 2010

Mailbag: I & E Meeting: Wednesday; June 9: " Money in Your Pocket": Dean Houlberg Speaks

Lender Talks about Money in Your Pocket at I&E Meeting June 9



Dreaming about starting a business of your own? Wondering how to convince lenders to finance your dream? Learn what lenders want to know by attending the Evansville Area Inventors & Entrepreneurs Club meeting set for 6:30 pm. Wednesday, June 9, in the lower level of the historic Eager Economy Building at 7 E. Main St.



Speaking about “Money in Your Pocket: What It Takes to Start a Business from a Lender’s Perspective,” is Dean Houlberg, a local banker with 36 years of experience. Houlberg will talk about the five Cs, and none of them include charm or charisma. Instead, they are the five Cs of credit, important to lenders reviewing loan applications. Briefly:

Capacity is the borrower’s ability to repay the loan.

Character focuses on the borrower’s integrity and credibility.

Capital counts on the borrower’s own resources, including equity.

Collateral is the asset or assets used as security against the loan.

Conditions are external forces affecting the business, such as competition and trends.

Houlberg works with commercial and agricultural lending as a loan officer and vice president at Bank of Evansville.



The public is invited to attend the Inventors & Entrepreneurs Club meeting. Every meeting includes a popular networking session, during which each person has about a minute to promote their business, invention or quest for a solution.



The meetings are free, due to donations and meeting sponsors. The sponsor for the June program is Terry Sweet with Pre-paid Legal Services. Members of Pre-paid Legal Services receive cost-effective legal services from a large network of attorneys and law firms across the country. Members also have access to business consultants through GoSmallBiz.com, which entrepreneurs may find especially helpful.



For more information about the June meeting or about the Inventors & Entrepreneurs Club in general, contact club President John Gishnock at 608-882-6656 or Sue Berg, vice president of outreach and marketing, at 608-882-0986.

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