Economic Development Credit Analysis

Date: June 12-14, 2019
Location: Salt Lake City, UT

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This course is held in conjunction with the 2019 Economic Development Future Forum and Managing Economic Development Organizations.

This hands-on course presents business financing tools and available private financing options, as well as how the public sector can complement bank financing. You will learn how to stimulate private sector investment that results in the creation of permanent, private sector jobs and increased productivity. Course participants will also perform credit analysis by determining how well a company buys and sells to make a profit. Learn how to read financial reports, financial statements, balance sheets and profit and loss statements. Enroll now to understand the basics of structuring deals for small businesses that often combine public and private sector financing programs.


Course Highlights

• Business credit analysis and deal structuring/restructuring
• Credit risk, maturity risk, rate risk and liquidity
• Determining if a firm is productive and profitable
• Analysis of small business lending programs
• Negotiation and loan packaging options
• Review lending programs
• Overview of real estate financing and lending tools

Students should bring a calculator to this course.



8:30 a.m. - 9:00 a.m.


9:00 a.m. - 12:30 p.m.

Economic Development Finance Concepts

This session provides economic developers with insight into the obstacles small business owners face in finding affordable expansion financing. Participants are give an overview of business financing needs and available financing options. The role of public agencies in complementing bank financing is also explored.

12:30 p.m. - 1:30 p.m.

Lunch on your own

1:30 p.m. - 3:00 p.m.

Introduction to Business Credit Analysis

How does a bank determine whether a business is creditworthy? This session details the credit analysis procedures banks use in making loan decisions. Participants investigate two business financial statements: the balance sheet and the profit-and-loss statement.

3:00 p.m. - 5:00 p.m.

The Balance Sheet

Where's the cash? Participants learn about the accounts on the balance sheet in order to analyze how a company used its cash. Assets, liabilities and net worth accounts will be defined and explained during this session.

5:00 p.m.

Homework Assignment

The evening in-class "homework" session will consist of case studies of actual businesses. Participants will learn how to spread financial statements and perform credit analysis on operating businesses. This is the first step in determining whether the business is creditworthy and can repay an expansion loan.

8:30 a.m. - 9:30 a.m.

The Profit and Loss Statement

The profit and loss statement is used to determine how well a company buys and sells to make a profit.

9:30 a.m. - 10:30 a.m.

Quality Indicators

This session continues the hands-on approach to making credit decisions about small businesses. Participants learn about various financial tools, known as quality indicators, which are used to analyze a company's creditworthiness.

10:30 a.m. - 12:30 p.m.

Case Studies

Participants will utilize the credit analysis performed on Monday night to make decisions about an operating business. Students will learn how to determine if the company pays it suppliers on time, collects its receivables, and controls costs to make a profit.

12:30 p.m. - 1:30 p.m.

Lunch on your own

1:30 p.m. - 3:30 p.m.

Economic Development Financing Programs

Participants learn how the programs can be used to finance businesses in their communities. Understanding the programs' requirements will enable participants to increase the use and availability in their communities. Participants use the program information learned to structure deals for small businesses that combine public and private-sector financing.

3:30 p.m. - 5:00 p.m.

Structuring the Loan

The case studies completed earlier are continued this afternoon. Participants will structure financing for the company for the expansion project, using adjusted cash flow and public and private sources of funding.

5:00 p.m. - 6:30 p.m.

Homework Assignment

The evening homework builds on the skills developed through Monday's and Tuesday's sessions. Participants will underwrite a loan for an operating business, by spreading historical financial statements, reviewing the quality indicators and structuring a loan that the company can afford using public and private financing sources.

8:30 a.m. - 12:00 p.m.

Developer Real Estate Financing

This session covers the motivation and requirements of real estate developers. Communities can influence the development process by providing financial incentives. Understanding developer requirements for minimizing risk and maximizing return, as well as the lending requirements of commercial banks, will help participants make informed decisions when providing financial incentives on real estate development projects.

12:00 p.m. - 1:00 p.m.

Lunch on your own

1:30 p.m. - 4:00 p.m.

Economic Development Financing Programs

Financing programs that influence real estate development projects are reviewed. Other federal, provincial and local financing programs are also explored. This session concludes with a real estate development case study, in which participants determine the amount of public assistance needed for a project to move forward.

4:00 p.m. - 4:30 p.m.


* Agenda subject to change

**PLEASE NOTE: In order to receive full IEDC certification credit for this course and a certificate indicating course completion, participants must attend the entire course and stay through the final session on the last day. Please make travel plans accordingly.**



Sheldon Bartel, CEcD, EDFP
Loan Officer
Grow America Fund of the National Development Council

As a member of NDC’s Central Team, Sheldon finds, analyzes, and underwrites SBA 7 (a) loans for the Grow America Fund program in Cuyahoga (OH) and Erie (NY) Counties and the Cities of Tracy, CA and Salt Lake City, UT. In addition, Sheldon works with the loan closing team as well as the portfolio management team.

Currently, Sheldon teaches two courses for NDC’s Economic Development Finance Certification Program: ED101 – Economic Development Finance and ED201 – Business Credit Analysis. In addition, Sheldon teaches Economic Development Credit Analysis for the International Economic Development Council on behalf of NDC. He also teaches Cash Reign Supreme.

Before joining NDC in 2011, Sheldon served as the VP of Lending at the Economic and Community Development Institute in Columbus, OH, VP of Lending at the Great Falls (MT) Development Authority, Executive Director at the Montana Business Assistance Connection, and prior to that as the Executive Director at the Uptown CDC in Sacramento, CA. Sheldon holds a graduate degree in the Design, Management and Appraisal of Development Projects from the New Mexico State University.



This course meets the professional development requirements for the Certified Economic Developer (CEcD) exam. CEcDs earn recertification credits for participating.


Accommodations/Training Location

Marriott Salt Lake Downtown City Creek
75 South West Temple
Salt Lake City, UT 84101
IEDC Room Rate: $221
Group Cut off: Wednesday, May 15, 2019

Book your room




By April 26

April 27 - May 24

*After May 24

IEDC Member








Full Time Student**




*Walk-in registrations will be accepted. Full payment must be made on-site in order to attend the course.
** Copy of current transcript required.


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Refunds less a $75 cancellation fee will be issued for all cancellations received in writing to fax: (202) 223-4745 or email: at least 10 business days prior to the course - please allow 3-4 weeks. All registrations regardless of payment status are subject to the $75 cancellation fee. No refunds or credit transfers to a future course will be issued for cancellations received within 10 business days of the course. Telephone cancellations are not accepted. Attendee substitutions for a course may be made at any time prior to the course.