North Mill Capital Executive Shares Knowledge of Alternatives to Traditional Banking with Small Business Owners
New Business Minnesota (NBMN), a publication with a readership of primarily small and startup businesses, held a workshop yesterday in Bloomington, Minnesota, entitled, Money from Unexpected Sources. For this event, NBMN assembled a team of experts to share and discuss other ways that one can obtain capital for their business other than through a bank. NBMN invited, “Any business owner or manager who is interested in alternative ideas to grow and uncover revenue that many new and small business owners may not be aware of “…and anyone falling into that category was welcome to attend.
Kristin Erickson, Senior Vice President of North Mill Capital LLC, was one of the experts asked to speak at the workshop. Ms. Erickson’s presentation covered Asset-Based Lending and Factoring (aka Invoice Financing or Accounts Receivable Financing) and how they can be an alternative to traditional bank lending to finance your business. After the presentation portion concluded, the experts were available to answer questions one-on-one, giving the workshop attendees the opportunity to ask specific questions pertaining to their specific business or situation.
New Business Minnesota is a monthly publication aimed at providing useful, informative articles and resources, as well as networking opportunities and workshops geared towards start-ups and new businesses in Minnesota. They also run one of the largest and most active meetup.com groups in the ‘Startup Business’ category. The meetup group is a supplement to the publication and provides opportunities for entrepreneurs to meet other local business owners, network, share ideas and resources, get advice and avoid costly mistakes, and hear how others have overcome hurdles and are achieving success.