ASBTDC Helps Clients Obtain $65.2M
January 31st, 2014 by Gwen Green
The Arkansas Small Business and Technology Development Center helped clients obtain $65.2 million in capital funding for their businesses in 2013, a record for the organization.
Spread over 192 individual projects, the figure includes loans and other funding obtained by current and prospective small business owners assisted by ASBTDC. In 2012, ASBTDC clients generated $55.5 million in total capital, the center’s previous record.
ASBTDC works with Arkansans who need money to start or expand a business, helping them prepare business plans, market research and financial data to present to lenders and investors.
“Our clients take these dollars and invest them in communities across Arkansas, creating jobs and strengthening the local economy,” said Janet Roderick, state director. “A record year for us is evidence of the tremendous economic impact small businesses have on our state.”
Reflecting the diversity of clients served by ASBTDC, loan projects ranged in size from $5,000 to $3.8 million.
In addition, 127 new businesses assisted by ASBTDC opened in 2013, and ASBTDC services contributed to the creation of 662 jobs in the state. Consultants in the center’s seven offices provided 12,225 hours of one-to-one confidential guidance to Arkansas entrepreneurs last year on every aspect of business creation, management and operation. ASBTDC consulting and market research services are free of charge.
“Arkansas Small Business and Technology Development Center’s services for entrepreneurs are critical to the economic growth and well-being of our state, and the University of Arkansas at Little Rock College of Business is proud to partner with the Small Business Administration and other higher education institutions in the state to make these services available to the public,” said Dr. Jane Wayland, UALR College of Business dean.
In addition to the lead center at UALR, regional offices are located at Arkansas State University in Jonesboro, Arkansas Tech University in Russellville, Henderson State University in Arkadelphia, Southern Arkansas University in Magnolia, the University of Arkansas, Fayetteville and the University of Arkansas at Monticello. To learn more, visit asbtdc.org.