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Small Business Development Center reports $2.2M capital raised, new downtown office
Summary
Rick Paul of the SBDC reported 219 clients served, $2.2 million in capital raised and 28 business starts last year; he said the SBDC moved to 320 St. John's Ave., Suite 103, and invited local lenders to a March 3 lenders' roundtable.
Rick Paul of the Small Business Development Center briefed the CRA on the center's annual figures and operations and described a change in office location.
Paul said the SBDC recorded 219 clients served last year, assisted local entrepreneurs who raised $2.2 million in capital and helped launch 28 new businesses. He noted the city and county each contributed roughly $25,000 to the SBDC's local operations, and he calculated that as roughly a 4.46% return on investment when compared with the capital clients raised.
Paul said he has moved the SBDC office to 320 St. John's Avenue, Suite 103, and announced a lenders' roundtable at the Chamber of Commerce on March 3 from 10:30 a.m. to noon aimed at connecting lenders with local borrowers and encouraging local participation in the Small Business Administration's regional lending activity.
Commissioners asked for clearer breakdowns showing how much of the reported revenue increase is attributable specifically to the CRA district versus regional results; Paul said survey responses are still coming in and that staff will try to produce clearer city‑level impact figures in the next report.
