Master Acting and Music Classes at the Alliance Theatre

Helena-Joyce Wright is the Artistic Director for Works In Progress Productions, LLC.  WIPP is an International Arts Consultancy & Producing Entity, specializing in; professional development, education and training for the performing artist, developing new scripts for theatre; film and providing talent management.  Actors and Actresses seeking to sharpen and broaden their skills should seek out the Acting and Music Master Classes at the Alliance Theatre.  More information is available at:http://mastersclasses.eventbrite.com

New Market Tax Credits Presentation from the White House

GAAP for the Low-Income Housing and New Markets Tax Credits, 2005 Edition I am providing this link to those who are interested in learning more about this gap financing tool.  Please post questions and I am sure that I will be able to assist anyone that is interested and acheiving their goals relative to this product.  Share this link or share my blog with all interested parties.

http://mediasite.yorkcast.com/webcast/Viewer/?peid=d958b84c4833481bbe97b13a2866bcdb

New Market Tax Credits

New Market Tax Credits can be used to fund start up businesses and for the expansion of existing businesses.  In a nutshell, this applies to commercial projects.  The business must allocate 60% of their service to low income populations or be located in a neighborhood where 20% of the population is low income.  This can be done anywhere in the USA.  The key is to start up a business that will have sufficient cash flow to provide returns quickly so that it will be attractive to institutional investors. 

I am currently working on some projects that have the criteria that I believe will attract institutional investors.  One of the things that makes the cash flow businesses attractive is that qualified investors are interested in putting cash into these businesses, 1031 exchange investors are interested in cash flow type businesses and therefore, I believe institutional investors are looking at a project or start up that has sufficient cash opportunities at the on set. 

There are some things about these opportunities that are unique.  One of the things that I see as unique is that the company's stock is purchased and a loan is made which is collateralized by the stock which is very good for a start up operation.  As a result of institutional involvement, a transaction done in this way has little chance of securities violations occuring when capitalizing a project via a stock sale.  Nobody will say that is what is happening, but a stock sale is what is ultimately happening in this transaction.  

The organization steers clear of any securities violations and they have a solid investor in place which could provide a feeling of comfort for investors that don't know too much about how you are going to run your organization because it simply lacks financial performance history which is normal for a start up organization. 

The deal structure is something that will certainly attract money using the NMTC vehicle.  This vehicle is utilized for both profit and non profit organizations looking to capitalize their companies. The non profit organization has some additional compliance areas, but it is all worth while at the end of the day. 

I will be providing more information on the NMTC as time goes on and transactions pile up, but I believe we will all begin to see the benefits of the NMTC as new business pop up and begin to employ the unemployed in the marketplace so that production is stable. 

Capitalization

Capitalization needs will arise if you are starting a new business, expanding an existing business, buying a business or for day to day operations if your revenue is slumping.  Many vehicles are available for business capitalization.  Mainstreamers of the past went to banks, venture capitalist or the market place.  Based on the current days economic climate and the new restrictions placed on banks by the FDIC (newly implemented reserve requirements for banks lending on secured transactions) then many would wager your chances to be slim to none. 

I happen to be a guy that always started my business without a dime.  I capitalized my business with the market that I serviced.  This is difficult at best, but I survived and learned a lot of valuable lessons in the process.  One of the things I learned as a student in BOOM (Business Ownership Operations Management) is to make sure that if you are going into business that you are properly capitalized.  Now, I broke that rule a lot, but that is typically the golden rule.  Though exceptions exist and questions arise, such as; how much money do I need?  How will I allocate my funds and who will supply my funds?  Many of us are not born with a silver spoon in our mouthes and we may not have superior credit to obtain a bank loan, so how do you capitalize your business?

One of the first things that you should do if you are opening a business is to research who has money, how are they spending or loaning or investing their money, how much money does the lender or investor have and what is the criteria for this group to give you access.  Once I heard a guy blurt out in a conversation over coffee, "Man if I had a $100,000 I would open a liquor store".  I couldn't resist the question, "How do you know that a $100,000 will be amount that you will need to open a liquor store?". I didn't receive an answer.  Well you really have to do your homework to determine what you will need.  I am willing to bet the farm that you will need resources beyond money. 

Do your homework and your criteria for successfully starting and operating your business should change dramatically.  Doing your homework means that you should plan and if you are not willing to do this yourself then develop a team of like minded individuals and either pay them or offer them ownership in the company.  Upon identifying a team which should be diverse, then begin your research.  Break the research down into sections or categories and give each team member an assignment and a time limit to bring back information on their category or section.  Compile the information and formulate an executive summary, a budget, projections, supportive marketing and sales strategy based on feasibility studies or demographic buying habits and competition.  This compilation should allow you to plan based on your strengths and weaknesses. 

So whether you are seeking a grant, venture capital, a loan, private equity or market based capitalization you will have to begin by researching you needs based on what you desire to accomplish.  Either your goal will be adjusted or you will be able to formulate a dead on plan based on the affirmation or statement that you make concerning your business interest.  Of course positive thinking and affirmations are a big part of successful businesses, but you better have a hedge and an edge because I am sure the graveyard at the secretary of the states office is lined with many business interest that began with positive affirmations, but where not researched and planned.  One thing is for sure, once you have a plan in place you can take your business anywhere you want it to go and capitalize it with any one of the vehicles available on the open marketplace.

Show Me the Money!

Show Me the Money an interview with Chet Jones about money, business and how you need to get in to fit in will air tonight at 7pm on www.blogtalkradio.com/hotandmobile don't miss it.

Where is the money? Educational, Small Business, Green, and NSP Grants Top the Charts.

Grant and scolarship money related to education, green technology and neighborhood stabilization are topping the charts these days.  Anyone that is not involved in what is going on in those industries may need to at the very least address the directions of the wind of change in these areas.

Educational grants, scholarships and financial aid will either be based on merit or need.  The federal government is covering about 30 percent of the monies and states are picking up about 15 percent of the tab.  Institutions will cover the rest, which will mean that the schools that students are enrolled in will figure prominently in the aid to cover college expenses.  Financial aid based on need is income based and basically on a first come first serve basis.

Green technology funds will be provided to homeowners that invest in making their homes energy efficient.  Some states will provide stimulus money directed toward weatherization via their department of community affairs.  Funds will be directed to counties, cities or non profit organizations with weatherization certifications.  The idea adopts the trickle down theory with a direct reward to contractors that meet criterial for weatherization.  Weatherization should lower the heating bill for the elderly and stimulate the economy by awarding contracts to companies with certifications that can hire local labor to assist in accomplishing this goal.  As much as $8M was awarded to a company Action, Inc. within the past 30 days.  I know of one organization in the state of Georgia that has been awarded at least $4.2M in weatherization contracts.  This is real and many counties have there money in place and they are ready to spend, but local contractors may not have the certification for them to begin. 

The Obama's stimulus plan has small business in mind by directing stimulus funds to the SBA so that small businesses can acquire loans of up to $35K to pay past due bills.  Documentation and financial packages will be required.  Additionally, awards of federal contracts and funds are available for disabled service veteran owned companies.  The loans require 10% reserves without source or seasoning.

NSP (Neighborhood Stabilization Program) money is available in most cities.  Joint venture agreements have been signed with some cities, but a lot of this money is being held by the some cities and conditions for acquiring these grants are unstable because of continual changes in the financial climate and politics.  Agreements and allocations seem to be directed toward non profits (CHDO's, Faith Based Organizations) and Contractors that have the financial fitness to acquire land and develop housing.  In some cases the city actually has the end buyers approved and ready for acquisition, but government has not learned to work as expeditiously as the situation for funds disbursement requires.  Some businesses have been awarded NSP money only to have the grant retracted because of daily changes to criteria after the award.

Each day millions of dollars in Free Government Grants are given away to people just like you for a wide variety of Business and Personal Needs.

Grants Can Be Secured By Any US Citizen. This year to date, as part of President Obama’s stimulus package, over $635 billion dollars have been diving out as grants:

Small Business Start Up and Growth - $150 Billions
Housing and Home Renovation - $100 Billions
Heath Care Cost Recovery - $80 Billions
Student Loans and Education Grants - $85 Billions
Minority Grants - $55 Billions
Women’s Grants - $100 Billions
Research Grants - $100 Billions
Community and Social Development Grants - $36 Billions
Personal and Cash Grants - $90 Billions
Grants for Non-Profit organizations - $100 Billions

There is no limit to the number of grants you can apply for. Each US citizen is eligible for more than one grant and should feel free to apply for the grants they deem necessary to help them live the most complete and fulfilling life. These should not be confused with loans – government grants never have to be paid back. There are no credit checks, no collaterals, and no co-signers. Those with bad credit or who have declared bankruptcy are still eligible.