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Frequently Asked Questions
General Questions
Q. Are WWBIC’s services offered to men?
A. Yes. WWBIC offers business and loan services to both men and women.
Q. Does WWBIC offer grants?
A. No, WWBIC does not offer grants. However, we do offer business loans up to $100,000. Most grants are given to nonprofit organizations and to specialized businesses, such as those that do research and development. Some local municipalities also offer specific-purpose grants, such as façade improvement grants, to qualifying businesses.
Q. Can anyone in your office answer my questions?
A. We consider our staff to be knowledgeable about the organization and its services. However, there are some questions that may need to be referred to specific staff members who have specific areas of expertise. If a staff member cannot help, he/she will refer you to another member who can.
Classes and Workshops
Q. Can I come in or call to talk to someone about my business idea?
A. We encourage people who are exploring entrepreneurship to register for one of our workshops such as Are You An Entrepreneur?, Will My Business Idea Work? or Small Business Discussion Circle. Our classes and workshops are designed to give detailed information and answer your questions in a group setting. If you already have a business plan and are seeking financing, please contact us to set up a personal Can We Talk meeting with one of our loan officers.
Coming soon, our current Class Schedule.
Q. Is there a fee for classes?
A. WWBIC keeps its classes and workshops affordable. As such, some are offered at no-cost and for some charge a nominal. For class descriptions and fees, click here. WWBIC also offers reduced-fee scholarships to eligible participants. Contact the office near you to see if you qualify.
Q. How will WWBIC’s classes help me?
A. WWBIC’s classes can help you by providing you with business education and resources to start or expand your business. We also offer specialized courses on personal money management to assist you in setting up a budget and addressing credit issues.
Q. Am I limited to taking a specific number of classes?
A. No. WWBIC does not limit the number of classes you may register for. However, when you register, please provide the workshop name, date and time for each of the classes you would like to attend.
Q. Do I have to pay for the class in advance?
A. For specific classes, you may have to pay in advance. For example, due to the high demand of our technology classes, we may ask for advance payment. For most workshops, we collect fees at the door.
Q. What form of payment can I use?
A. WWBIC accepts cash, checks and most credit cards. At this time we do not accept debit card payments.
Q. Will I receive a certificate of completion for a class or workshop completed?
A. WWBIC will provide a certificate to participants who successfully complete our multi-session courses (Start Smart, SmallBiz and Make Your Money Talk).
Q. Do you offer child care, while I attend classes?
A. For most classes, we do not provide child care services. Please ask a staff member or coordinator for details when registering for a workshop.
Business Loans
Q. Do I have to take the classes in order to apply for a WWBIC microloan?
A. No. It is not a prerequisite to take our classes in order to apply for a business loan. However, you will need a completed business plan. To ensure your success as a business owner, we encourage applicants to have solid business management skills, industry experience and a good credit history. Our classes are designed to build upon existing business skills and to strengthen personal money management skills, if necessary.
Click here for more information about WWBIC’s loan program.
Q. Does my loan have to be approved by WWBIC’s Loan Committee?
A. All applicants work closely with our loan officers to discuss your borrowing needs. All WWBIC loans must go through an approval process. Your loan may have to be approved by WWBIC’s Loan Committee, depending on the amount you are borrowing. Typically, a loan of $25,000 or more will require Loan Committee approval.
Q. Do you have a special financing program for a person who is unemployed, a single mother, or someone with a disability?
A. At this time, we do not have a separate financing program designed specifically for single mothers, the unemployed or people with disabilities. However, everyone is encouraged to talk to a WWBIC representative about how our existing classes and loan programs may be able to address the business’ needs.
Q. Can WWBIC give me money to help pay personal bills?
A. No. WWBIC’s loans are specifically designed to help start or expand businesses.
Q. How do I sign up for an IDA (Individual Development Account)?
A. At this time, WWBIC is able to offer IDAs through specific organizations that have contracted our services. For more information, please contact our Financial Awareness Coordinator at WWBIC’s