Lectures Provide Financing Info

At least four Northwest Arkansas banks will play Santa Claus to current and prospective small-business owners on Dec. 11.

The Small Business Development Center in the University of Arkansas’ Walton College of Business will host a cutting edge “Lenders Exposition” in an effort to help fledgling entrepreneurs overcome the hurdles of getting financed. It’s a unique opportunity because following the morning strategy session, participants will get to discuss their business plans with bank executives.

Bank of Fayetteville, First National Bank of Springdale, Arvest Bank in Rogers and Arkansas National Bank have already committed to setting up booths at the seminar. Additional institutions are being sought to participate.

The event starts at 9 a.m. in the auditorium of the Donald W. Reynolds Center for Enterprise Development at 145 N. Buchanan St. in Fayetteville. Interested parties may contact the SBDC at (501) 575-5148. The cost of the program is $75, including a box lunch.

Lance Sexton, director of the SBDC, said getting their financing rolling is most often the toughest chore for new business owners. So the purpose of this program is to make that task a little easier.

“We will have a senior lender on hand from each participating bank who will let the entrepreneurs know what banks want to look at and evaluate when considering their small business loan request,” Sexton said. “We already have a good cross section of the lending community that will be represented, and this is a rare opportunity for small business owners to share ideas with multiple banks in one location.”

Waschka Forum to Tackle Litany of Small Biz Issues

Larry Waschka, president of Waschka Capital Investments of Little Rock and Rogers, will present what may be the longest titled program in SBDC history. His “How to Buy a Business, How to Sell a Business and You’ve Sold Your Business, Now What?” will be Dec. 5 at the Reynolds Center in Fayetteville. (See above for the address and contact information.)

The event, which is limited to 300 people, is set for 8:30 a.m. to 11:30 a.m. and will be followed by a reception. The cost is $100 per person for advanced tickets or $125 at the door. SBDC group business partner/spousal discounts are also available.

Waschka, a registered investment advisor and a nationally recognized authority on the stock market, will tackle all angles of buying or selling a business including how to handle sudden tax liabilities. Sexton, the SBDC director, said he’s constantly beset with questions about such matters.

“This will tell clients what analysis they should perform to make sure they’re getting a good deal,” Sexton said. “Anyone thinking about buying a business should be there.”

Waschka is the author of “The Complete Idiot’s Guide to Getting Rich” and “Ten Stocks That Could Change the World.” This year he’s been recognized by Worth magazine as one of its Top 250 Advisors in the Country and Mutual Funds magazine named him as one of its 100 Great Financial Planners.

Two Area Businessmen Partner with Venture Fund

Two former Wal-Mart Stores Inc. executives, Randy Laney and Colon Washburn, have joined forces with Arkansas Capital Corporation Group to help develop Arkansas’ venture capital industry.

They will serve as venture partners with two capital funds — Diamond State Ventures and Arkansas Ventures — and act as the eyes and ears of Arkansas Capital Corp. in Northwest Arkansas.

Sam Walls, executive vice president of ACCG, said Laney and Washburn’s duties will include reviewing and handling deals originated in the state’s northwest corridor.

“They will serve as our representatives in that area,” Walls said. “That is not to say that we won’t have additional people who work with us in Northwest Arkansas. But Colon and Randy are both well known in the area and have had successful startup businesses of their own …

“Their role will be that if you want to access either of our funds, you can go see them and they will try to help.”

Laney and Washburn are founders of Bentonville Associates Ventures, now a global consulting firm.

They also helped found Mercari Technologies Inc., the software firm of which Laney now serves as chairman and CEO.

Washburn is a private investor and has developed the Beau Terre Office park, Bentonville’s largest office park for retail vendors.

Diamond State Ventures is a $56 million regional venture fund focused on expansion stage, management buyout, and recapitalization opportunities. It’s also set up for early stage ventures that are revenue producing.

Arkansas Ventures is still in development, but will focus on serving seed and startup firms and the commercialization of technologies emerging from Arkansas’ universities and the University of Arkansas for Medical Sciences Biotech Center.