What kind of counseling does SCORE provide?
Counselors have diverse business backgrounds with expertise in accounting, law, marketing, personnel, etc. A counseling session can cover information regarding the start up of a business or problems of an existing business. All counseling is individual CONFIDENTIAL and FREE under SCORE's code of ethics.

How can I contact SCORE for assistance?
The Tacoma South Sound chapter can be contacted by calling 253 680 7770 in Tacoma or aaa xxx nnnn in Lakewood. Just ask to make an appointment with a SCORE counselor.

Am I entitled to only one individual counseling session?
You may return for as many sessions as you wish. Each scheduled session will last for approximately one hour.

Does SCORE offer other services?
Yes, at the Tacoma Business Center in Bates Technical College and at Clover Park Technical College’s business development center there are a wide variety of training and counseling services offered through SCORE and other resource partners. Also available are business manuals and reference books. SCORE specifically offers workshops at a nominal fee.

How do I decide whether to take a workshop?
You should talk to a counselor and decide what to take and what you can expect to learn. Also, the counselor can help you select additional workshops. Afterwards, your counselor can help you make the most of what you've learned in each workshop.

Can I get a U.S. Small Business Administration (SBA) loan or grant?
Congress created the U.S. Small Business Administation (SBA) in 1953 to help America's entrepreneurs form successful small enterprises. The agency does not have funding for direct loans except through the agency's Disaster Loan Program nor does it provide grants or low interest rate loans for business start-up or expansion. The SBA enables its lending partners to provide financing to small businesses when funding is otherwise unavailable on reasonable terms. SBA will guarantee major portions of certain loans as requested by the lender. Go to www.sba.gov/wa click "financing" for more information.

Can a business person get cheaper interest rates for business loans through SBA?
All interest rates are negotiated between the bank and the borrower and are based on a percentage above the prime rate. However, SBA provides opportunities such as the 7(a) general gauranteed loan program.

What will be required of me in asking for a business loan?
If you are a first time borrower, be prepared for a tell-all. Banks will ask for a business plan, resume, credit history, references and specific loan documents required by the bank. All banks use the loan-to-value basis which means of the total funds (value) required the borrower is expected to contribute 25%-33% risk capital and the bank will loan the rest.

How do I choose which form of business to use?
There are many factors involved here. For instance, a sole proprietor means you have chosen not to form an entity. This form offers flexibility in your business operations and you are your own boss, however your personal assets are at risk. Business entities such as "S" corporation and limited liability company (LLC) provides some limited liability, but you give up flexibility in operations. Your SCORE counselor will guide you in your selection.

Can I get counseling via email?
Go to www.score.org then look in the section titled "Ask Score for Business Advice". There are options to provide a few key words and a counselor will be located.

How do I do market research and sales forecasts for my business plan?
You can visit similar businesses and see who the customers are and what is being sold; perhaps out of town as you won’t be a competitor and owners will talk to you. Use the professional association publications if available. Dunn & Bradstreet offers a service to provide financial history for various businesses. www.garage.com and www. Bplans.com have numerous business plans published at their site. Also, be sure to talk with a librarian in the Reference Section of your local or regional library.

Why do so many businesses fail?
Mainly due to poor planning. Some should have never started; some are good ideas but had key omissions. Some owners were not committed to success; they thought it was still a 40 hour per week job. And a number of other common reasons - get advice; talk to a SCORE counselor.


FREQUENTLY REQUESTED NUMBERS

Internal Revenue Service Tax Information & forms
1-800-829-1040 - www.irs.gov

SBA Disaster Area Office
Direct, low-interest SBA loans when disaster damage exceeds insurance coverage. 1-800-488-5323 - www.sba.gov/disasterarea4

Tacoma Dept. of Licensing
253-591-5252 - www.cityoftacoma.org/Page.aspx?nid=499 (Business License FAQs)

Tacoma-Pierce County Chamber of Commerce
253-627-2175 - www.tacomachamber.org

Pierce County, Economic Development Divison
253-798-6150 - www.co.pierce.wa.us

Thurston County Chamber of Commerce
360-357-3362 - www.thurstonchamber.com

Lacey Thurston County Chamber of Commerce
(360) 491-4141 - www.laceychamber.com

Thurston County
www.co.thurston.wa.us/auditor/Licensing/busines.html

Washington State Department of Licensing
www.dol.wa.gov (provides references and guideline)

Washington State Office of Minority & Women's Business Enterprises OMWBE
360-704-1194 - www.omwbe.wa.gov