An SBA funded program, the Small Business Development Center Program has a large reach. There are over 900 service centers across the country and U.S. territories. SBDCs are not veteran focused, but have similar services to Veteran Business Outreach Centers (VBOC) and are sometimes linked with a local VBOC.
SBDC counselors can provide assistance with creating a successful loan application, conduct seminars or provide personal services. “Our counseling is one-on-one, in depth and specific to the situation, needs and opportunities of the business,” said Antonio Doss, associate administrator of the Office of Small Business Development Centers in Washington, D.C.
Sixty-three Lead Service Centers partner with colleges and universities, state governments, and economic development organizations and have developed networks in their respective states and regions. Counseling at any of the 900 service centers is free, though some training sessions may have a small cost-recovery fee.
“Small businesses can’t always afford a big consulting company, so we help businesses when they need assistance in developing or adjusting their plan, to better manage finances of the business, improve cash flow or a variety of other topics,” Doss said.
Assistance with financing is a common request and many counselors are former bankers. An SBDC counselor can help business owners create a successful loan application, determine the kind of financing they need and the best approach. “Because we work closely with bankers, lenders, and equity providers we understand the kind of requirements they have and what makes a successful application,” Doss said. In 2009 SBDC counselors were able to secure $3.4 billion in credit despite tough economic conditions, compared with $3.6 billion in 2008.
All SBDC service centers also offer a small business orientation class. “This class helps people when they decide they are ready to go into business, if they are really ready,” Doss said.
In 2009 SBDC counselors were able to secure $3.4 billion in credit despite tough economic conditions, compared with $3.6 billion in 2008.
Find a local SBDC by calling the Small Business Answer Desk at 1-800-8-ASK-SBA.
→ What’s This For? One-on-one counseling, training and financing assistance