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Local SBDC adviser: entrepreneurs getting hands‑on business plans, revolving loan fund reserved for bank‑declined applicants
Summary
Todd Thompson of the Small Business Development Center told the advisory board Aug. 27 that the SBDC is doing intensive hands‑on work with entrepreneurs on business plans, financials and marketing research and that the revolving loan fund is an option for applicants only after primary lenders decline.
Todd Thompson, a Small Business Development Center adviser at the Utah State University campus in Moab, gave the board a detailed update on SBDC services and local lending resources.
“We help them create their business plans. I'm helping them create their financials. I'm talking to them about the different grants available. I'm talking about the different loans available,” Thompson said, describing assistance that ranges from rewriting business plans to preparing multi‑year financial projections and connecting clients with market researchers.
Thompson said the revolving loan fund is not an automatic source of capital. “They have to be turned down by a primary lender, like a bank. They can't just go to the revolving fund,” he told the board. He described the SBDC role…
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