In this episode, we debunk some common financial literacy myths and discuss the vital art of navigating borrowing for small businesses. Jamel Hamilton, reveals the truth behind many financially related misconceptions (read things that feel scary!) and offers invaluable insights into how even the smallest ventures can effectively manage their finances. We talk about what it takes to construct a robust financial foundation without the need for large initial investments. Whether you're just starting or looking to level up your financial game, this episode is your compass to better financial success in small business.

Key Take Aways

• The power of building your financial literacy to fuel the success of your small businesses.
• Learn about alternative funding streams that empower small businesses and underrepresented communities.
• How to build relationships with financial professionals and bankers and leverage mentorship for successful borrowing.
• The key steps you need to know to track finances and build a rock-solid financial base for your business.

Unpacking this episode min by min:

00:01:19 - Jamel’s Role at NEF, 

00:04:30 - NEF’s Function and Services, 

00:09:27 - Steps to Determine Loan Options, 

00:11:14 - Collaboration and Support, 

00:13:15 - Higher Risk Loans, 

00:14:24 - Personalized Approach, 

00:15:54 - Research and Education, 

00:18:32 - Collaboration and Support, 

00:22:42 - Vulnerability and Trust, 

00:26:51 - Overcoming Financial Hurdles, 

00:29:24 - Building Confidence and Supporting Dreams, 

00:31:14 - Understanding Financial Terminology, 

00:35:33 - The Story of Numbers, 

00:39:09 - The Journey of a Business Owner, 

00:40:35 - The Importance of Tracking Finances, 

00:41:55 - Building Relationships with Accountants, 

00:46:34 - Community and Mentorship, 

00:50:10 - The Power of Small Business Ownership, 

00:52:42 - Misconceptions of Owning a Business, 

00:54:39 - Advice for Dealing with Upset Clients, 

00:55:58 - Advice for the 18-Year-Old Self, 

01:01:09 - Excitement for the Future, 

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Vivian Kvam:
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Jamel Hamilton:
Jamel Hamilton is the Deputy Director of Lending at the Nebraska Enterprise Fund (NEF). Jamel stepped into the lending space four years ago and has since proven himself a savvy problem-solver with loan policies and an advocate of financial literacy for small business owners. He has a rich history in loan processing and collections, which has given him both a pragmatic and empathetic understanding of financial landscapes for small businesses. Jamel is also a passionate community servant with board roles at the Nebraska Children's Home Society and the Young Nonprofit Professionals Network of Greater Omaha. 

• Facebook - https://www.facebook.com/nebbiz/
• Website -https://nebbiz.org/
• Blog-  https://nebbiz.org/news-and-stories

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Email the team: [email protected]