Wealth Zone University (WZU) announces the latest episode of this can’t-miss series, Small Business in the 21st Century, featuring CEO Don Morgane’s exclusive interview with commercial banking expert and Baltimore native Tiana Wells-Lawson. With over twenty years of experience, Tiana currently serves as Fulton Bank’s Relationship manager, specializing in securing access to capital for small businesses in the Greater Washington DC area. Her primary focus is on the minority, female, and faith-based communities and she thrives on empowering customers through financial literacy.
During this one-on-one, Ms. Wells-Lawson sets the record straight concerning the lack of access to capital and small businesses. She denies that banks don’t want to provide capital to small businesses, explaining that nothing could be farther from the truth. Ms. Wells Lawson acknowledges that banks recognize that small businesses are the backbone of society, creating jobs and economic growth, making it essential that they have access to capital to build and sustain strong communities.
Throughout the interview this industry expert gifts WZU viewers the advice she regularly provides to current and aspiring small business owners. “Be prepared and organize your business and financial documents, preferably electronically,” Wells-Lawson stresses. She notes that the importance of planning and preparation can’t be overstated when it comes to securing small business capital.
Moragne agrees with Ms. Lawson-Wells assertion that before even pursuing a loan, small business owners must develop a comprehensive business plan, which is also an integral component of WZU’s curriculum. Lawson-Wells also counsels business owners that they must be able to articulate what their business does, explain how it generates revenue, and describe what sets it apart from competitors if they are serious about success
A sound financial practice for small businesses is to maintain a debt coverage ratio that allows 100% of their debt to be paid, leaving 20% of the remaining funds (liquid) in to cover emergencies. Character, creditworthiness, and collateral are the 3 C’s that Lawson-Wells says are the most important factors influencing access to capital. But she also notes that having an established relationship with a trusted banker that understands the applicant’s business and can serve as an advocate during the loan process is invaluable.
To access all the incredible small business insight noted above, and other useful tips for achieving small business success in the 21st century, be sure to watch the full-length interview with leading industry expert Ms. Tiana Wells-Lawson at https://www.youtube.com/watch?v=RHXitQWLCv8.
About Wealth Zone University:
Don Moragne, the Founder and CFO of Wealth Zone University is a functional CFO with expertise and experience in the management of financial and wealth strategies. Wealth Zone University is a component of The Success Zone, Inc., a Financial Management Firm that provides Chief Financial Officer services to Small and Medium-Sized Enterprise Businesses. WZU operates under the belief that success in business is possible for any Business Owner who begins an Entrepreneurial Journey, so long as they are armed with the proper mindset, the Appropriate Business Model, and effective Advisors.
About Fulton Bank:
Fulton Bank focuses on granting the community unprecedented access to capital, empowering the people who live and work in the DMV. It not only grants loans to private citizens and local businesses, but also builds comprehensive relationships with its clients, addressing investment, financial, and retirement needs.
Company Name: Wealth Zone University
Contact Person: Don Moragne
Address:4061 Powder Mill Road Suite 700
Country: United States
Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Wealth Zone University announces the latest episode of this can’t-miss series, Small Business 21st Century