UChicago’s Polsky Center has extended an invitation to South and West Side business owners with annual revenues approximately $250,000-500,000 who are actively seeking to secure capital through a bank loan or other fundraising, and seeking guidance on improving their financial reporting and using financial statements to make strategic decisions.
Small Business Financial Fundamentals program helps business owners refine financial reporting, create financial projections, increase knowledge on access to capital, build business credit, and manage business finances to achieve profitability and improve cash flow.
The time commitment is two hours per week and an average of two hours of outside work per week with dedicated MBA student team support.
By the close of the program, each business will create a package of financial and business information commonly required by lenders, including:
- // Business overview and history
- // Business goals and strategy
- // A statement of financial health referencing past performance, ratios, debt capacity
- // Financial statement forecasts
- // Expected future performance, debt needs, and capacity
- // Sources and uses of cash, cash needs, and debt capacity
Applications are accepted through November 2023.