1. |
How do I join PLAN Fund? |
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To become a PLAN Fund member, you must first complete our two training classes. The classes include a six week financial literacy course and a Business Basics Certification Training. Once you complete both courses, and become certified you are eligible to become a PLAN Fund member and thus able to enjoy the many benefits of being a PLAN Fund member. |
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2. |
What happens at the training sessions? |
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At the Financial Literacy training we will cover the following subjects:
| Financial goal setting |
Budgeting |
| Savings |
Banking products |
| Credit review and rebuilding |
Checking/savings |
You will learn how to budget, save, build and repair credit, write an executive summary, cash flows, projected sales, pricing, etcetera.
In the Business Basics class we will cover the following subjects:
| Cash flow analysis |
Product/Service Analysis |
| Sales forecasting and marketing |
Income and Expense Ledger analysis |
| Pricing and cost analysis |
Writing/Communicating Executive Summary |
All classes will be conducted in a group setting with your peers. |
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3. |
Where are the training sessions held? |
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See PLAN Fund Classes |
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4. |
What are the benefits of being a PLAN Fund member? |
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See Member's Benefits
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5. |
What are the types of businesses PLAN Fund members own? |
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See Business Directory |
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6. |
What if I already took a financial literacy course? |
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See Business Basic Entrepreneur Training |
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7. |
Are there any costs involved? |
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Business Basics Entrepreneur Training: $35 for early registration. $40 for onsite registration.
Annual Membership Fee: $25 . |
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8. |
When am I eligible for a loan? |
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Once you have completed your training, have been certified, and part of an active group for a minimum of one month you are eligible to apply for a loan. |
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9. |
Is a credit check required for a loan? |
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A credit check is required however; no application will be automatically declined based on credit history. Because character is a key element in our organization, poor credit will not make you ineligible for loans.
Certain level loans will require references and collateral. |
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10. |
Who has the final decision on whether my loan is approved or not? |
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The final decision on your loan will be made by a loan committee, and it will be based mostly on your loan application and participation at training sessions. |
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11. |
What happens if I miss a training session or center meeting? |
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If you miss a session, contact the PLAN Fund office by phone or email to let your instructor know. You will need to discuss with your instructor a possible make up the session. |
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12. |
What is a PLAN Fund Group, how does it fit into the program? |
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Our entrepreneurs become members of business support Groups made up of 4-8 members. Members select group members based on trust, compatibility, and business expertise. Groups serve a variety of functions, including providing business leads, networking, emotional support/ encouragement, and review of group members' loan applications for feedback and comments. |
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13. |
What is a Center and its role in the program? |
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Center is an association of up to eight Groups that meets every two weeks. Center structure provides Groups with opportunities for networking, leadership, business skill development, peer support, and business critique. |
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14. |
How does the Mentor program work? |
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Member entrepreneurs are matched to appropriate mentors. Mentors should have regular (weekly) communication with our entrepreneurs. Mentors provide support to our member in various aspects of their business, including assisting with completing their business application.
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