Frequently Asked Questions

Client Questions

Why do I need a business plan?

Consider your business plan your road to success. A business plan will contain your business goals, why those goals attainable, how you will reach them.

Where can I find a good attorney?

There are several legal resources available here in Austin. To search for an attorney visit.
Lawyer Referral Services of Central Texas – (512) 571-8303
Legal Assistance to Microenterprises Project – (888) 988-9996
Also EGBI has several attorneys that work with small businesses.

Where can I get a copy of my credit report?

Everyone should review his or her credit report on an annual basis regardless of whether you are trying to start a business.

  • Annualcreditreport.com – will provide you with the detailed report no score
  • Creditkarma.com – will provide you with your score.
  • YOU SHOULD NOT ENTER ANY CREDIT CARD INFORMATION. Unless you want to have your report monitored.
Where can I find out information about getting my product trademark?
What do I need to get a business loan?

Each financial institution differs on their requires. Below is a list of general items you will need to obtain financing. Check with your financial institution to see if they require additional information.

  • Business Plan (if business is less than 2 yrs old)
  • Bank Statements – for personal and business
  • Last 3 years tax returns – for personal and business
  • Most recent financial statements for the business
  • Personal Financial Statement
  • List of how funds will be used
Where do I go to register my business?

Depends on how you want to register your business.

  • If you are interested in forming a Sole Proprietorship. You will need to go to your County Clerk’s office.

Travis County Clerk’s office
5501 Airport Blvd Austin Texas 78751
(512) 854-9188
Hays County Clerk’s Office
712 S. Stagecoach Trail, San Marcos, Texas 78666
(512) 393-7779
Williamson County Clerk’s Office
405 Martin Luther King St Georgetown, TX 78626
(512) 943-1515
If you are interested in forming an LLC or a Corporation you will need to submit forms with the Secretary of State.

  • EGBI recommends that you consult with an attorney to assist you with filing your documents.
  • Depending on the complexity of your documents an attorney will charge you between $1,000 – $2,000

EGBI questions

How much do you charge?

For our training programs we charge $125/month. However, EGBI offers income based scholarships.

Our loan packaging services vary. We charge an initial fee of $200 then 5% of the loan amount.

Our consulting services are free. We love working to help small businesses grow.

Will I have a complete business plan when I finish the course?

It all depends on you. Each night you will be given homework that will help you to complete your business plan. At the end of the program, you will have an outline, or “mini plan” that will help you to complete your plan.

Do I need to take your class to start my business?

Absolutely not. Even if you don’t take our classes, we are more than willing to review your plan for you and provide input.

Is there a fee to just to talk to a counselor?

No there is not fee to talk to one of our counselors.

When are your classes?

Our business training classes meet on Mondays and Thursday from 6-8 pm

We have different workshop as well as our training program throughout the year. Visit our calendar to see our upcoming schedule.

Do I have to take both modules to complete the course?

No you do not have to take both modules to successfully complete our course. After each module clients are given the opportunity to do a 5-minute presentation on their business plan. This presentation includes descriptions of your idea, your target market, a budget, a marketing plan and an analysis of your strengths and weaknesses.

In order to successfully complete our program you will need to present your business idea.

Will your class guarantee I get a business loan?

No our class will not guarantee you will get a business loan. However we do have partnerships with the alternative lenders in town who have special programs and pricing for our clients.