Bruce Nuzum, Lisa Shimkat, and Shane Tiernan
Presented May 28, 2015 from Noon-1pm (central)
Webinar video not available due to technical difficulties.
Are you looking for funding for your Iowa business? Do you have questions about what banks are looking for or how to apply for specific programs? What does having a business plan have to do with being eligible for funding? These questions and more will be answered in this free webinar.
During this webinar, our expert panel of speakers will discuss how having a business plan influences financing options, where you can look to find capital resources, how application processes work and tips on what you need to present. Joining us on this financing panel is Bruce Nuzum, Vice President of Finance at the Iowa Area Development Group, Lisa Shimkat, the State Director of the Iowa Small Business Development Center, and Shane Tiernan, Sr. Vice President and Chief of Lending for GBN Bank.
What you'll gain from this webinar:
- Understand the importance of having a business plan
- Learn about funding resources available to you (grants, revolving loan funds, etc.)
- Discover how the application processes for funding works and how your business can apply
- Learn about the 5 C's of credit and how to understand bank decision criteria
- Find out how much you funding you should be asking for and what you should include in your presentation
Bruce Nuzum is Vice President of Finance at the Iowa Area Development Group (IADG) in Des Moines. IADG provides marketing and economic development services on behalf of its member rural electric cooperatives, municipal electric companies, and independent telecommunications companies throughout the State of Iowa. Bruce joined IADG in 1997. His primary responsibilities include project assistance through financial packaging. During his tenure at IADG, Bruce has authored over 170 successful USDA REDL&G applications securing $68 million for Iowa’s RECs, their communities and businesses. Almost $28 million of these awards were for the benefit of local revolving loan funds. Bruce received his business degree from the University of Iowa in Iowa City, IA and his M.B.A. from Drake University in Des Moines, IA. He is a Past President of the Professional Developers of Iowa and a certified Economic Development Finance Professional.
Lisa Shimkat is the State Director of the Iowa Small Business Development Center (SBDC). The Iowa Small Business Development Center has 15 centers across the state who provide business counseling for entrepreneurs in all areas of starting, operating and expanding a business including utilizing existing community loan programs in partnership with banks and federal programs. Lisa has an MBA from Iowa State University, is a Certified Business Advisor from University of Toledo and has also obtained Economic Development Finance Professional (EDFP) certification through the National Development Council. She serves on the Fort Dodge School Board and has served on numerous boards and commissions. She also helped found a local Young Professionals group, a group to create networks for young professionals and help develop a sense of ownership within their community.
Lisa’s background is extremely diverse. Lisa has experience in both the public sector as well as the private sector. She has worked as a plant manager at an agricultural rebuilder in north central Iowa managing employees and supervising the production of torque amplifiers, clutches and other farming products as well as finance director for Corn Belt Power Cooperative. She has adapted to the changes within the business environment to create a strong resource and learning center that is more beneficial for entrepreneurs.
Shane Tiernan is Sr. Vice President and Chief of Lending for GNB Bank. He also facilitates and organizes the strategic planning activities for GNB Bank and their sister bank Ackley State Bank. GNB Bank is a $343 million locally owned rural community bank organization headquartered in Grundy Center Iowa. GNB Bank has four locations in Grundy Center, Conrad, Marshalltown and Manchester.
Tiernan has more than thirty years experience working with rural communities, farmers and rural community business owners providing financial technical assistance and funding. He is the recipient of three Governor’s Volunteer Awards for his work in rural community and economic development and has been recognized by USDA and the Federal Home Loan Bank, Des Moines for his rural community development contributions. He was a founding board member of the Conrad Main Street program who has the distinction of being the first self-initiated Rural Main Street program in Iowa and the first Main Street program in the nation to use the Main Street Approach on a community-wide basis.
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