GREENWOOD CREDIT UNION VP PRESENTS AT SBA CONFERENCE “A-Z GUIDE TO BORROWING MONEY”

Holly Pettis, Vice-president of Commercial Lending at Greenwood Credit Union, was among the presenters at the RI Small Business Administration’s conference held at the Providence Municipal Building on Monday, entitled “The Complete A-Z Guide To Borrowing Money For Your Small Business.” In an effort to help the many small businesses in need of financing in Rhode Island, Greenwood Credit Union, along with the U.S. Small Business Administration and the Rhode Island Economic Development Corporation, South Eastern Development Corporation (SEED Loan Program) as well as the City of Providence Economic Development Corporation teamed up to provide small business owners with necessary information and various options available to help secure a small business loan.  

                Ms. Pettis presented “How Lenders Review Business Plans” offering attendees the financial lender’s perspective while providing a brief checklist before submitting the document. “When you request a business loan from a financial institution, realize that we want to make sure you, too, are invested in your business…that you have a skin in the game.”  She also explained the differences between banks and credit unions, noting that credit unions are not-for-profit institutions where “members serve members.”