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Developing Small Businesses and Leveraging Resources in Detroit
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Developing Small Businesses and Leveraging Resources in Detroit

  • Overview
  • Speakers
  • Agenda
  • Accommodations
  • Conference Materials
  • Registration
Detroit Symposium Image

Please join the Federal Reserve Bank of Chicago, the Michigan Bankers Association and the New Economy Initiative for Southeast Michigan at a symposium to address the issues of small business credit and financing in the city of Detroit.

With the loss of manufacturing jobs in Detroit, some of Detroit’s most prominent institutions have pursued an array of activities to attract and promote businesses and entrepreneurship. Foundations, universities, corporations and nonprofits are among the many entities that have embraced small business development as key to economic stabilization and growth.

At this symposium, bankers, funders, researchers, regulators and business owners will debate the economic, financial and regulatory issues that affect the supply of and demand for bank credit for small businesses. Sessions will focus on community investment and compliance obligations, local practices to assist small business owners, and the opportunities for leveraging bank and non-bank resources to finance small businesses. The symposium will also feature a multi-year study conducted by staff of the Community Development and Policy Studies Department of the Federal Reserve Bank of Chicago on the changing financial landscape of the city of Detroit, focusing on credit demand and availability for small businesses.

 

To download the agenda as an interactive PDF for PC and iPad, click the Agenda tab. The standard PDF is also available for Kindle.

10/16/12
11:00 AM
Registration/Box Lunch
11:30 AM
Opening Remarks

Alicia Williams, Vice President, Federal Reserve Bank of Chicago
Dennis Koons, President and CEO, Michigan Bankers Association

12:00 PM
Session 1: Framing the Issues: Financial Infrastructure and Small Business Lending

Federal Reserve Bank of Chicago Community Development and Policy Studies staff presents the results of a study on the financial infrastructure and small business lending in Detroit. This presentation will motivate and frame the issues that are discussed during the symposium.

Presenter

Maude Toussaint-Comeau,  Federal Reserve Bank of Chicago

  • Presentation
12:30 PM
Session 2a: Assessing the Scope of Opportunities: The Entrepreneurial Ecosystem in Detroit

Urban economic development experts discuss their views of the entrepreneurial landscape in Detroit. They present an overview of the context of small business opportunity in the city and in the surrounding counties.

Presenters

Lyke Thompson,  Wayne State University

Olga Stella,  Detroit Economic Growth Corporation

Wendy Lewis Jackson,  Kresge Foundation

Moderator

Paul Traub,  Federal Reserve Bank Detroit Branch

1:30 PM
Session 2b: Assessing the Scope of Opportunities: The Entrepreneurial Ecosystem in Detroit

This panel continues the discussion of the “entrepreneurial ecosystem” from the perspective of small business owners. They give their perspectives on the conditions that affect opportunities for small businesses in the city and surrounding counties.

Presenters

Brian Balasia,  Digerati

Gregory Terrell,  Gregory Terrell & Company

Chinwe Onyeagoro,  O-H Community Partners

Lydia Gutierrez,  Hacienda Mexican Foods

Moderator

William Testa,  Federal Reserve Bank of Chicago

 
 
Break
2:45 PM
Session 3: Connecting Small Business Owners with Resources: An Overview of Local Practices

This panel brings together intermediaries that work with business owners to develop business plans and obtain financing. Panelists talk about the type of services they provide and their perspectives about how to increase the availability of financing for small businesses.

Panelists

Richard King,  Small Business Technology and Development Center

Daryl Williams,  Detroit Urban Entrepreneur Partnership

Gerald Moore,  SBA Michigan

Dana Thompson,  University of Michigan Law School

Moderator

Cathy McClelland,  McClelland and Associates

 
 
Break
4:15 PM
Session 4: The Small Business Lending Environment: Financial Institution Community Investment and Compliance

This panel addresses issues related to the opportunities and limits of financial institutions to play a role in Detroit small business development. Panelists give an overview of general trends in bank lending and the issues banks face in making small business loans.

Panelists

Keith Leggett,  American Bankers Association

Joseph Turk,  Federal Reserve Bank of Chicago

Jeffery A. Sugg,  First Independence Bank

John Jagels,  Talmer Bank and Trust

Howard Lax,  Lipson Nielson Attorneys at Law

Moderator

Michael V. Berry,  Federal Reserve Bank of Chicago

5:30 PM
Reception/Dinner at Federal Reserve Detroit Branch with Keynote

Keynote: U.S. Representative Gary Peters

10/17/12
7:45 AM
Registration and Continental Breakfast
8:30 AM
Welcoming Remarks

New Economy Initiative

David Egner,  President and CEO,  Hudson-Webber Foundation and New Economy Initiative

  • Presentation
8:45 AM
Session 5: Targeting Small Business Finance in the Context of Lower-Income Communities

Representatives from community-based financing organizations, banks and the government discuss connecting small business development to lower-income populations.

Panelists

Drextel Amy,  Liberty Bank

Louise Guyton,  Comerica

Michelle Richards,  Center for Empowerment and Economic Development

Paul Brown,  Michigan Economic Development Corporation (MEDC)

Moderator

Bruce Pietrykowski,  University of Michigan Dearborn

 
 
Break
10:15 AM
Session 6: Leveraging Financial Resources for Small Business Financing

Larger funders and organizations that help coordinate financial resources to support business development in the city of Detroit discuss what they are doing to assist small businesses and identify opportunities to leverage resources most effectively.

Panelists

David Egner,  Hudson-Webber Foundation and New Economy Initiative

Teresa Lynch,  Mass Economics LLC

Scott Wolffis,  Huntington Bank

William Beardsley,  Michigan Business Connection, a Credit Union Service Organization

Moderator

Richmond Hawkins,  New Detroit, Inc.

11:45 AM
Session 7: The Path Forward for Small Business Development and Financing in Detroit

Experts react to the symposium discussion, giving further thoughts on opportunities in specific neighborhoods, small business prospects, and bank support for small business development in Detroit.

Panelists

Thomas FitzGibbon Jr.,  Talmer Bank and Trust

Timothy Bates,  Wayne State University

Susan Mosey,  Woodward Corridor Initiative

Moderator

Jeremiah Boyle,  Federal Reserve Bank of Chicago

12:30 PM
Lunch and Keynote and Q&A

Keynote

Michael Barr,  University of Michigan Law School and former Assistant Secretary for Financial Institutions at the US Department of Treasury

 

Download interactive agenda here.

 

 

 

Last Updated: 11/09/2012

Additional Materials

  • David Egner Presentation
  • Maude Toussaint Presentation
  • Detroit Symposium White Paper
  • Interactive Agenda
  • Summary of Sessions
 
Event Information
Date
10/16/12 - 10/17/12
Registration Deadline
Wednesday, October 10, 2012
Location

Federal Reserve Bank of Chicago Detroit Branch
1600 E. Warren Avenue
Detroit, MI 48207

Event Contact
Carla McCracken
(313) 964-6010
E-Mail

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