SCORE Los Angeles – Small Business Certification Roadmap
What is the Small Business Certification? The certification gives you the opportunity to learn
and become qualified to apply to a bank or other institutions for funding. In addition, you will
build a solid foundation for future success for your business.
Who Should Consider working on this certification? Any business owner who wants to be
more confident in applying for funding or a start-up looking to fulfill its dreams.
What are the benefits of completing this certification? Completion of the program gives you
the opportunity for a priority interview at participating lending institutions. Most such
companies require the documentation and training contained within this program.
How many hours might it take for a business owner to complete it? We estimate 60 to 90
days.
Does it cost anything? All mentoring is free and workshops will be at a 30% discount.
Do I work with a mentor? You will be assigned a primary mentor and you will work also with
other mentors who have special expertise for your product or service.
How do I view/sign up for the workshops? Workshops are listed on the SCORELA.org website.
Where can I find sample formats for the business plan, financial projections and marketing
plans? All such material is found on the SCORELA.org website. All samples and forms are free.
What is a FICO score? How to I find out what my score is? The FICO score is your credit rating.
There are many websites that will provide your current score. Many lending institutions require
a minimum score. If your score is low, we can assist you with raising your score.
If I don’t currently have a relationship with a CPA or insurance professional, how do I find one
I can trust? SCORE cannot recommend a lawyer or CPA, yet we can recommend local listings.
What is the SBA’s LINC system and how do I find information about it? If the SBA supports a
loan candidate, it posts that person’s information on its LINC system. SBA lending institutions
bid on such loan applicants. The SBA is just one of our business partners.
How will I use my certification once it’s completed? Completing the program will not only
provide you the opportunity for funding, it will give you the basic tools to improve or start your
own business.
The checklist below outlines the requirements for completing the certification. You will attend
workshops, create the necessary documentation and work with competent mentors. If you have
any questions about this program, or if you wish to begin this program, send an email to:
[email protected]. Tell us you want to join the SCORELA Certification Program and you will be
contacted for further details.
A. Documentation
a. Qualified Business Plan reviewed by SCORE mentor. To include Lean Business
Plan concepts with proof of concept.
b. Qualified 2 year financial projection reviewed by SCORE mentor
c. Qualified Marketing plan, either as part of the Business Plan or as a separate
document-reviewed by SCORE mentor.
B. Workshops
a. Starting a Small Business (unless already operating an ongoing business)
b. Creating a Business Plan
c. Financial Forecasting
d. Marketing-Social Media
e. Funding
f. Choice of 2
i. Negotiation
ii. SEO-Beginners Guide
C. Primary Requirements for Financing
a. FICO score greater than 650
b. Relationship with certified public account
c. Relationship with appropriate risk assessment professionals
d. Relevant business experience
e. Understand the SBA’s LINC system
The Score Certification check list gives our clients a more defined path to starting a business. If
completed, we feel confident that our clients will have a better chance at small business success
which includes obtaining funding. Though we cannot guarantee an institution will grant our
clients funding, many of the activities included in our program are required for such
consideration.
When clients dedicate themselves to completing this program, we will work with them to secure
a priority interview with various loan institutions that partner with SCORELA. You will be
assigned a senior SCORELA mentor to monitor your progress. Your progress will be tracked by
the SCORELA board to ensure that we offer you all the advantages of SCORE.