Raising Bank Finance – an enterprising lunchtime seminar!

Waterford City Enterprise Board recently launched a series of Networking Lunch events that address the pertinent and real issues affecting businesses in today’s tough economic climate.

The first of these lunchtime seminars took place last week and the topic was “Raising Bank Finance” with Mr. Freddie Hatton of FP Consulting. Never before has the issue of bank funding been more outstanding. In August the Central Bank in Ireland announced that the pillar banks cannot lend over €3 billion in Microfinance loans to small business because of the quality of applications and a lack of demand.

With banks no longer responding positively to applications for funding from SME’s this has left many small businesses unable to secure much needed capital.

The premise of this inaugural lunchtime presentation was to offer attendees a better understanding of the change in banking policy, the revised criterion in banking, how best to position funding requests and the kind of supporting documentation that is required from the banks. Following on from this, there will be a series of one day workshops on November 9th and December 7th.

According to Ciaran Cullen, Acting CEO of Waterford City Enterprise Board, the event proved hugely enlightening for those in attendance. “The Waterford City Enterprise Board has fashioned an agenda of lunchtime events that are pertinent and, in many cases, critical to SME’s today. Over the course of the next few months we will be offering people in business, at all stages, the opportunity to gain some practical advice and a comprehensive insight into the areas that are affecting them.”

“Freddie Hatton is well regarded in the financial services, with over 33 years experience with Bank of Ireland and subsequently as CEO of the SAP Group. Therefore he is well positioned to offer an informative and constructive overview of what SME’s need to do in order to secure bank funding. Applying for finance to any bank or financial institution can be a daunting process and a quagmire of red tape, bureaucracy and rejection. That is why an event like this and the follow up one day workshops are of huge benefit to anyone seeking finance and can give them the confidence to apply in the knowledge their chances will be vastly improved.”

If you would like to find out more about Waterford Enterprise Boards workshops which take place on November 9th and December 7th from 9.30am to 5pm and cost €25, call 051 852883 or email info@waterfordceb.com