Bankers and business owners by the dozens gathered at Fairfield University’s Dolan School of Business on the morning of June 4 for the “Capital Matchmaker” event hosted by the Small Business Administration (SBA) and Connecticut Small Business Development Council (CTSBDC).
Modeled after a speed dating event, representatives of banks sat at tables in one of the Dolan School’s event spaces and met with potential clients for 10 minutes. The rapid-fire meetings allowed both sides of the table to feel the other out and see if there was a spark or connection.
While business relationships are much more dependent on numbers and sound strategy, they can last as long if not longer than many romantic ones. Relationships of all stripes are based on trust and mutual respect, not least of all when it comes to loaning money.
“I came in with the anticipation of finding resources to assist me in developing and building my business plan to its fullest potential,” said Elizabeth Ruiz, the owner and CEO of Pair a Dice Clean based in Manchester. She indicated that while she’s ultimately hoping to raise between $200,000 and $1.2 million in capital for business expansion, she arrived ready to “establish relationships with individuals that we normally wouldn’t be in front of or have contact with.”
“Having small business owners and entrepreneurs like Elizabeth show up is exactly why we’re doing this event,” said SBA Connecticut Director Catherine Marx. “We want to make sure that small businesses know that we are here to aid and assist.”
While preparing to sit across the table from small business owners, Frederick Welk, the Director of Business Education and Communications for the Community Economic Development Fund said that the event was a great fit for both organizations like his and the sorts of business owners he planned to meet that day.
“It brings people together to meet lenders of all types at all echelons serving different businesses that you wouldn’t be able to see in one place at one time very easily,” Welk said. “It’s difficult to make your way around town and meet multiple lenders.”
“With the 10-minute format they have you can learn enough about a small business to understand whether it’s a good match for the organization,” added Welk.
Director of Small Business and Government Guaranteed Lending for Fairfield County-wide Connecticut Community Bank David Moore attended a previous Capital Matchmaker event held in New Haven.
“It was great,” Moore said. “We met a bunch of people that we’re still talking to. Sometimes there’s a long lead time on these things, sometimes years, but we made contact with a lot of great people, it gives a lot of exposure.”
Moore added that as a traditional bank, it proved useful as a way to reach business owners who might not think to visit bank branches.
“It’s just fabulous what they’ve done for our business,” Moore added, thanking the SBA for organizing the event.
Another owner seeking lenders was Oliver Reginensi, an experienced chef with decades of experience in some of the finest French kitchens in New York City had recently moved to Norwalk.
“I am trying to open a specialty food business, what we call in France an épicerie,” Reginensi said. “It’s going to be specialized and we will try to work as much as we can only with products from Connecticut farmers. And we are going to have weekly classes with farmers who are going to explain what they do with sustainability, and maybe somebody to explain how to try and pair wines.”
Reginensi explained that he had already secured a location in Darien and was eager to make contacts and find lenders who could help him realize his vision. The event was in fact how he was launching his search.
“It’s the first time I’m sitting down in front of a bank like this,” said Reginensi. “Especially in this country, I never did that before. I hope for the best. I have got three appointments and I hope to get much more. Let’s see how it goes.”
For more information about upcoming SBA events, visit: https://www.sba.gov/district/connecticut
