The most significant barrier to business growth is access to capital. It’s time for your company to take a Step Forward and join the Prince George’s County Economic Development Corporation for this loan readiness program. Designed to assist women-owned businesses in getting the right connections in order to accelerate business growth.
The Step Forward Initiative is limited to ten (10) women-owned businesses that not only need access to capital but are ready to commit to a six-month program designed to serve the need and challenges of their established businesses.
One-on-One Counseling
Each week, participants will meet one-on-one with a business and/or banking counselor to work directly on their specific needs as well as strengthen and/or mitigate shortfalls in your loan package.
Training Sessions
Once a month the Step Forward cohort will join together to participate in intense training sessions with industry experts to navigate the financing process from start to finish.
By the end of this course, participants will:
Be able to articulate and identify their capital needs
Build relationships with a network of lenders and resource partners
Gain insight into the loan underwriting and approval process
Identify loan package deficiencies/shortfalls and how to correct them
Have a completed loan application package ready to submit for funding with the support of counselors
Have their loan application pre-viewed/prequalified by lenders
Improve chances of having a loan approved
Participate in a lender match-making session
Applicant Criteria
Firmly established with more than 2 years of operation
Have financial statements that include profit and loss and cash flow numbers, and demonstrate revenue growth
Leadership that intends to grow the business
Have a future or existing financing need
Women-owned and operated (51% + ownership interest)
Business must be located in Prince George’s County
Application Documentation
Completed Application
Executive Summary
