Business Model Canvas
The Business Model Canvas PLUS is a unique 21st Century business management tool that takes the 9 building blocks of the BMC further.
One Page Business Plan
The One-Page Business Plan® will teach you how to simplify and make your planning process highly effective. You’ll learn:
- Why the traditional business plan is dead...and why that is good news!
- How the discipline of having a plan on a single page can significantly change your mindset and behavior!
- How to write a complete business plan in the equivalent of 29 tweets (or less) on a single page using keywords and short phrases.
- Three simple techniques for creating a first draft in 90 minutes.
- Insider secrets on how to get others to polish and finalize your plan… at no cost!
Business Plan Templates
Here is a link to SCORE templates for developing a client's business plan.
SLATE: SCORE's Mentoring Methodology
SLATE is HOW SCORE successfully mentors their clients. It is our mentoring methodology that sets us apart from all other organizations. Using one mentoring methodology across the organization helps to ensure consistent and effective delivery of the mentoring messages. SLATE is based on extensive client research and a 50+ year history of delivering client success. For more information go to SCORE Training 005 Mentor Certification and view the SCORE Mentoring Methodology Module.
SCORE Operating Manual
The SCORE Operating Manual (SOM) contains organizational policies to help chapters and volunteers perform functions correctly and efficiently. It documents the approved standard processes which support SCORE services and the overall strategic plan.
Startup Roadmap - Mentor Guide
The Startup Roadmap outlines each step in starting a business with information and resources on the most difficult tasks. It also contains tips for working "With Your Mentor" on each topic.
Engage Resource Toolkit
On this page you will find Engage toolkits for mentors, client intake coordinators, event managers, volunteer intake coordinators, chapter managers, and the Engage calendar.
SCORE Resource: Business Loans
Most of the clients coming to SCORE for help with a business loan will apply for a commercial loan from a local or online bank. An SBA backed (or guaranteed) loan is another possibility. The SBA does not make direct loans to businesses, but the SBA provides guarantees to lenders for the loans they make to business owners.
Loan Requirements
In order to qualify for a business loan, a client must meet the criteria below. If the client has a deficiency in any of these areas, the chances of qualifying are extremely low.
- Clients must have a good credit rating. While the exact numbers may vary, depending on the bank, a good rule of thumb is that a client must have at least a 650 credit rating. A stronger credit rating makes for a stronger loan application.
- Clients must have cash to put into the business. Generally a lender wants 15-20% of the total loan amount to be provided by the client. The more cash a client has to fund the business, the more likely they are to get a loan.
- Clients must have a well written business plan. Helping the client create a strong business plan is the most important service that a SCORE mentor can provide.
The business plan must include a complete set of financial statements projected for three years. The financial statements include a Profit and Loss statement, a Balance Sheet and a Cash flow statement. Lenders use these financial statements to determine the ability of the business owner to repay the loan so it is important for these statements to be complete and realistic. A link to these templates can be found on the SCORE Oklahoma City website (www.score.org/oklahomacity) under the heading: SCORE Chapter Members Only: Mentors Toolbox.
- Clients need collateral to cover the full amount of the loan. Collateral is additional security that assures the lender that the business owner has a secondary set of security for loan repayment. Collateral can be business assets (equipment, inventory, etc) or personal assets such as a home that is not part of the business assets.
If you are working with a client who has a deficiency in any of the areas above, here are some strategies you can recommend so the client can work toward a stronger loan application.
- Contact the local consumer credit agency to get help with improving credit. Here is a link to the website: https://www.occf.org/cccsok/
- Work on building cash equity for the business.
- Review our local podcast, “Business Insights” interview with SCORE member and bank credit analyst, Chris Codding.. See link: Chris Codding Q
- Below are links to lender options:
REI Oklahoma: https://www.reiok.org/programs/rei-business-lending/
The SBA Lender Match program: https://www.sba.gov/funding-programs/loans - Link to the Startup Roadmap on the SCORE website: https://www.score.org/startup-roadmap
- SBA guaranteed loans may allow borrowers to pledge collateral less than the full loan amount as long as the borrower pledges all available collateral.