MINOT, N.D. – Minot State University’s College of Business and the Veterans Entrepreneur Training (VET) Program will host a Veterans Entrepreneurship Training Summit focusing on funding and sources of financing on Tuesday, Dec. 3.
The event, for veterans, active duty military members and spouses, aspiring entrepreneurs, and college students, will provide developmental training sessions. The Summit is scheduled to run from 5:30-6:30 p.m. in Old Main Room 402.
“I am so excited to have my entrepreneurship students partnering with the community members in the area of finance to provide valuable information for veteran entrepreneurs,” said Minot State assistant professor of entrepreneurship and management Tracey Mays. “The most frequent questions I get from budding entrepreneurs as well as existing entrepreneurs is about funding and financing their business.”
The event will include a panel discussion that will focus on business funding and sources of financing that will include Mays as a panelist.
“This session is designed to get the entrepreneurs’ questions answered directly by the banks and lenders who make commercial lending decisions daily,” Mays added. “They can tell the entrepreneurs what they are looking for when they make their funding decisions from ‘A to Z,’ or shall I say the 3Cs: credit, collateral, and character. There will also be information on nontraditional avenues to find funding for businesses.”
The VET Program was founded by Mays with funding from a Larson Foundation Grant. The program was born out of Mays’ experience consulting with veterans and their spouses on creating their own businesses and will be a means for veterans to learn more about specific entrepreneurship topics. The VET Program is also an opportunity for Minot State students majoring in entrepreneurship to take the theories they are learning in their entrepreneurship classes and put it into practice by helping veteran entrepreneurs. The topic of the first summit is on funding sources for entrepreneurs, but this is just the first of many topics to come.
“I’m grateful for this opportunity to work with Dr. Tracey Mays and the Severson Entrepreneurship Academy helping to create and promote training programs for aspiring entrepreneurs,” said MSU student Jonah Kramer. “This event is an opportunity for aspiring entrepreneurs to create contacts and ask questions they have with sources of financing and funding for a new business. This event is geared to help veterans, active duty military members, and their spouses through developed entrepreneur training programs that can help facilitate the resources necessary in starting a business. I think this a great opportunity to receive insight from individuals with experience in banking and business lending.”
Along with Mays, panelists include commercial loan officers, current business owners, and a SBA loan program director.
For more information, contact Jonah Kramer by e-mail at
Jonah.kramer@ndus.edu or Tracey Mays by e-mail at artresa.mays@minotstateu.edu