The regional Small Business Development Center (SBDC), serving the counties of Carter, Custer, Dawson, Fallon, Powder River, Prairie, Rosebud, Treasure, Wibaux, provides free and confidential counseling regarding all aspects of business start-up and business expansion, including planning and troubleshooting.
Other benefits of the program:
Business plan preparation
Marketing and advertising assistance
Evaluation of financial needs, as well as preparation of finance sources and uses
Projection of income, expenses, and cash flow “Buy/Sell” analysis
For more information, or to contact the regional SBDC office, visit their website here.
REVOLVING LOAN FUND
The EPEDC has access to Revolving Loan Funds (RLF) designed to help established businesses keep and create jobs. By providing a secondary source of funding option, the EPEDC seeks to expand and diversify the local economy. The RLF program offers qualifying small businesses low, fixed interest rate loans with flexible payment options. The program recognizes that gap financing may be needed at times when a conventional bank lender cannot loan the full amount requested, or when a proposed loan application doesn't meet a bank’s underwriting requirements. This can happen because of insufficient collateral/equity or marginal credit. To secure an RLF loan, the borrower must pledge available assets, including guaranties of the principals, after a confidential review of their comprehensive business plan has been done.
The purpose of this program is to help stimulate business growth by providing low interest loans for expansion or start-up. For every $20,000 of funds lent in this program, one job must be created. The borrowing business must provide matching funds for the expansion or start-up project. These matching funds may come from the business owner’s own equity or loans from a bank or other investor.
BUSINESS PLAN PREPARATION
Eastern Plains Economic Development Corporation assists new and established businesses with Business Plan Preparation. The preparation of a well-thought-out business plan should be one of the primary goals of any and every business (existing or start-up). Here are five reasons why you should write a business plan:
To Test the Feasibility of Your Business Idea
To Give Your Business the Best Possible Chance of Success
To Secure Funding
To Make Business Planning Manageable and Effective
To Attract Investors