One Degree Capital Challenges Business Owners During SBA Panel Discussion
FOR IMMEDIATE RELEASE
Occoquan, Virginia - June 19, 2015 - Rod Loges, Founder and President of One Degree Capital, issued a challenge to small business owners during a recent panel discussion at SBA headquarters in Washington, DC.
The expert panel, entitled Innovation and High Growth Potential Firms' Access to Capital which included Rod Loges, Founder and President of One Degree Capital, sought to explore new and emerging ways to access capital for business financing. Other panel members included Venture Capitalists, Angel Investors and Crowdfunding lenders.
“Business owners today face an incredible challenge when they seek capital,” explains Rod to the panel attendees. “In 1915, 80% of bank loans went to small businesses with just 20% to personal loans for things like cars and houses. Today only 5% of bank loans support small businesses.”
Rod, himself an entrepreneur who has built and sold two successful companies prior to starting One Degree Capital, explained, “I believe there is no such thing as a ‘small’ business owner. When I started my first tech company and realized how difficult it was to obtain a $50,000 loan from a traditional bank, the idea for One Degree Capital was planted. Our services are needed now more than ever.”
Access to capital is not the only challenge facing small business owners today. “Answer truthfully,” Rod challenged the group, “How many business owners here today purchase your daily supplies and business needs from other local business owners? Do you drive a few extra minutes to support a local coffee shop, or do you automatically pull into Starbucks? Changing our customers’ behaviors on where they shop starts with changing our own behavior.”
Referring to the challenge afterwards, Rod explained, “My kids know when they go on road trips with me we are not stopping at the fast food joint right off the highway. We use Yelp as our guide to finding local businesses, and we have discovered some of the most amazing businesses and people that way. I hope my kids remember these trips as they grow up, and pass it on to their families as well. Small business owners are the backbone of our country’s economy, and I am happy to support them at every opportunity.”
About One Degree Capital
One Degree Capital, a privately funded lender, helps business owners navigate the “Capital Desert” that exists for nano and micro businesses needing capital to grow their business. One Degree Capital specializes in providing business loans to Significant Business Owners™ nationwide, believing there is nothing “small” about any sized business. Established in 2010, One Degree Capital has provided over $20 million to Significant Business Owners™ utilizing funds from private investors rather than banks. Many of One Degree Capital investors are themselves business owners and entrepreneurs. Learn more at www.OneDegreeCapital.com.