Great Plains Venture Capital Fair - Application Fee Waived!
The 2nd annual Great Plains Venture Capital Fair (GPVCF), which showcases the region's most promising companies for an audience of venture investors and service professionals from regional and national venues has waived it's application fee for companies interested in presenting.
Companies interested in presenting at GPVCF should submit the application form to Molly Sullivan at gpvcf@ideacenternd.org no later than Sept 14, 2010.
For more information, go to www.marketplaceofideas.org or contact Molly at gpvcf@ideacenternd.org
Format: The executive summary shoudl fully describe the company's business, market opportunity, innovative solution, value proposition, competitive advantage, entrepreneurial team and financial highlights and offerings (not to exceed 4 pages in length)
When - September 28, 2010
Where - FargoDome - Fargo, ND
Friday, September 3, 2010
Tuesday, August 31, 2010
Inventors Network- Licensing Event, September 28th, with Stephen Key
Licensing Expert, Stephen Key will be covering a step-by-step process for bringing ideas/inventions to market through licensing. This workshop is geared for individuals and companies who have ideas for products and would like to learn an easy way to bring them to market, for those who provide services for the creative endeavor (engineers, attorneys, graphic designers, marketing personnel, manufacturers, researchers, paralegals, etc) and for family, friends and colleagues who are interested in understanding and helping with the process.
The event is from 5-9 on Tuesday, September 28th at Dunwoody Institute in Minneapolis and costs $10-$20, depending upon membership in Inventors’ Network. Stephen only comes to the Twin Cities every 2-3 years to present live seminars, so this is a "don't miss" opportunity.
What Attendees Will Learn
Attendees will learn a simple and effective step-by-step process on how to license their inventions:
- Licensing versus Manufacturing
- Creating a Marketable Product
- Protecting Your Inventions
- Bringing Your Product to Life
- How to Get Your Product Inside Companies, Easily
- What to Submit and How
- Negotiating Terms and Royalties
- Signing a Contract
- How to Keep Moving Ahead
- And more!
In addition to the presentation, there will be time for question & answers.
About Stephen Key
Stephen has been licensing products for over 30 years in a variety of industries (beverage, pharmaceutical, music, entertainment, toys...), has been featured in national media outlets (Dr. Phil, The Big Idea with Donny Deutsch, USA Today...), speaks world-wide on the topic of licensing and educates people on how to bring their products to market. In addition to licensing, Stephen has also manufactured and distributed products and has sold his products in retailing giants such as Wal-mart, Walgreens, 7-Eleven and Disney theme parks and stores world-wide. You can learn more about him at http://www.inventright.com.
Event Details
The event is being sponsored by Inventors’ Network http://www.inventorsnetwork.org.
WHO: Licensing Expert, Stephen Key
WHAT: Learn How to Bring Ideas to Market
WHEN: Tuesday, September 28th, 2010
TIME: 5:00 - 9:00, program begins at 5:30. (For those of you who need to eat on-site, the cafeteria will be open until 8:00. Food will not be served during the meeting).
WHERE: Dunwoody College of Technology, Minneapolis
COST:
$10 for Inventors’ Network Members
$20 for Non-members
Registration
Online: www.InventingCoach.com (Under Store, Stephen Key Event) Link = http://www.inventingcoach.com/store_key_event.html
At the event: Cash and check preferred.
For More Information
Jack Smith
952-470-8045
DrawPatent@aol.com
Linda Pollock
952-405-6910
Linda@InventingCoach.com
Licensing Expert, Stephen Key will be covering a step-by-step process for bringing ideas/inventions to market through licensing. This workshop is geared for individuals and companies who have ideas for products and would like to learn an easy way to bring them to market, for those who provide services for the creative endeavor (engineers, attorneys, graphic designers, marketing personnel, manufacturers, researchers, paralegals, etc) and for family, friends and colleagues who are interested in understanding and helping with the process.
The event is from 5-9 on Tuesday, September 28th at Dunwoody Institute in Minneapolis and costs $10-$20, depending upon membership in Inventors’ Network. Stephen only comes to the Twin Cities every 2-3 years to present live seminars, so this is a "don't miss" opportunity.
What Attendees Will Learn
Attendees will learn a simple and effective step-by-step process on how to license their inventions:
- Licensing versus Manufacturing
- Creating a Marketable Product
- Protecting Your Inventions
- Bringing Your Product to Life
- How to Get Your Product Inside Companies, Easily
- What to Submit and How
- Negotiating Terms and Royalties
- Signing a Contract
- How to Keep Moving Ahead
- And more!
In addition to the presentation, there will be time for question & answers.
About Stephen Key
Stephen has been licensing products for over 30 years in a variety of industries (beverage, pharmaceutical, music, entertainment, toys...), has been featured in national media outlets (Dr. Phil, The Big Idea with Donny Deutsch, USA Today...), speaks world-wide on the topic of licensing and educates people on how to bring their products to market. In addition to licensing, Stephen has also manufactured and distributed products and has sold his products in retailing giants such as Wal-mart, Walgreens, 7-Eleven and Disney theme parks and stores world-wide. You can learn more about him at http://www.inventright.com.
Event Details
The event is being sponsored by Inventors’ Network http://www.inventorsnetwork.org.
WHO: Licensing Expert, Stephen Key
WHAT: Learn How to Bring Ideas to Market
WHEN: Tuesday, September 28th, 2010
TIME: 5:00 - 9:00, program begins at 5:30. (For those of you who need to eat on-site, the cafeteria will be open until 8:00. Food will not be served during the meeting).
WHERE: Dunwoody College of Technology, Minneapolis
COST:
$10 for Inventors’ Network Members
$20 for Non-members
Registration
Online: www.InventingCoach.com (Under Store, Stephen Key Event) Link = http://www.inventingcoach.com/store_key_event.html
At the event: Cash and check preferred.
For More Information
Jack Smith
952-470-8045
DrawPatent@aol.com
Linda Pollock
952-405-6910
Linda@InventingCoach.com
Thursday, August 5, 2010
August Web Chat: Tips and Advice on Health Care Tax Credits Provided for Small Business Owners
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Thursday, August 12, 2010, from 1:00 p.m. to 2:00 p.m., ET
WASHINGTON – The SBA’s Web Chat will highlight small business health care, with a focus on how the Affordable Care Act will benefit small business owners through available tax-saving incentives. Participants can learn about the newest tax credits they can take advantage of, and additional tax provisions to be implemented during the next several years.
WHO: John Tuzynski, chief of Employment Tax and Specialty Programs for the Small Business Self-Employed (SB/SE) Division at the Internal Revenue Service, will host the August web chat on “Health Care and Small Business.”
WHAT: SBA’s Web chat series provides small business owners with an opportunity to discuss relevant business issues online with experts, industry leaders and successful entrepreneurs. Chat participants will have direct, real-time access to the Web chats via questions they submit online in advance and during the live session, with instant answers.
WHEN: August 12, 2010, 2010, 1 p.m. ET
Tuzynski will answer questions for one hour.
HOW: Participants can join the live Web chat by going online to www.sba.gov, and clicking “Online Business Chat.” Web chat participants may post questions before the August 12th chat by visiting http://web.sba.gov/livemeeting/Aug10/ and posting their questions online.
# # #
Advisory Date: August 4, 2010 Contact: Cecelia Taylor (202) 401-3059
Advisory Number: MA10-12 Internet Address: http://www.sba.gov/news
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Thursday, August 12, 2010, from 1:00 p.m. to 2:00 p.m., ET
WASHINGTON – The SBA’s Web Chat will highlight small business health care, with a focus on how the Affordable Care Act will benefit small business owners through available tax-saving incentives. Participants can learn about the newest tax credits they can take advantage of, and additional tax provisions to be implemented during the next several years.
WHO: John Tuzynski, chief of Employment Tax and Specialty Programs for the Small Business Self-Employed (SB/SE) Division at the Internal Revenue Service, will host the August web chat on “Health Care and Small Business.”
WHAT: SBA’s Web chat series provides small business owners with an opportunity to discuss relevant business issues online with experts, industry leaders and successful entrepreneurs. Chat participants will have direct, real-time access to the Web chats via questions they submit online in advance and during the live session, with instant answers.
WHEN: August 12, 2010, 2010, 1 p.m. ET
Tuzynski will answer questions for one hour.
HOW: Participants can join the live Web chat by going online to www.sba.gov, and clicking “Online Business Chat.” Web chat participants may post questions before the August 12th chat by visiting http://web.sba.gov/livemeeting/Aug10/ and posting their questions online.
# # #
Advisory Date: August 4, 2010 Contact: Cecelia Taylor (202) 401-3059
Advisory Number: MA10-12 Internet Address: http://www.sba.gov/news
Thursday, July 29, 2010
Overhauled SBA Website to Go Live in the Fall
The new SBA.gov will make it easier for small businesses, lending institutions, small business counselors and other members of the small business community to more quickly find the information they need through a simplified navigation structure. In addition, new features will allow users to tailor their experience to provide information that is specific to their needs and location.
The new website also will offer a dedicated lender area that helps banks and other financial institutions that partner with the SBA.
The website redesign is part of the SBA’s goal to create a dynamic online presence that delivers information to customers wherever they are online. To achieve this goal, the agency recently began using social media to reach constituents through a variety of online channels such as Facebook and Twitter. The agency also recently launched an improved search function on the current SBA.gov website which vastly improves the speed at which users can find the information they are looking for in advance of the launch of the new site this fall.
For more information on the SBA’s online expansion, please visit www.sba.gov/next.
Release Date: July 29, 2010 Contact: Cecelia Taylor (202) 401-3059
Release Number: 10-41
The new SBA.gov will make it easier for small businesses, lending institutions, small business counselors and other members of the small business community to more quickly find the information they need through a simplified navigation structure. In addition, new features will allow users to tailor their experience to provide information that is specific to their needs and location.
The new website also will offer a dedicated lender area that helps banks and other financial institutions that partner with the SBA.
The website redesign is part of the SBA’s goal to create a dynamic online presence that delivers information to customers wherever they are online. To achieve this goal, the agency recently began using social media to reach constituents through a variety of online channels such as Facebook and Twitter. The agency also recently launched an improved search function on the current SBA.gov website which vastly improves the speed at which users can find the information they are looking for in advance of the launch of the new site this fall.
For more information on the SBA’s online expansion, please visit www.sba.gov/next.
Release Date: July 29, 2010 Contact: Cecelia Taylor (202) 401-3059
Release Number: 10-41
Thursday, July 15, 2010
DOE Releases funds for SBIT/STTR.
Washington, DC -- U.S. Energy Secretary Steven Chu announced yesterday that $30 million in funding from the Recovery Act and FY 2010 budget appropriations will be made available to qualified small businesses to support the commercialization of promising new technologies. Today's funding announcement builds on the Department's existing efforts under the Small Business Innovation Research program (SBIR) and the Small Business Technology Transfer program (STTR) to develop near-term clean energy technologies and support American small businesses that will play an important role in building the clean energy economy of the future. This is the first time DOE has offered Phase III awards under these small business programs.
Small companies previously awarded Phase II grants through DOE's Small Business Innovation Research program (SBIR) or the Small Business Technology Transfer program (STTR) are eligible. Projects that include developed technologies with a strong potential for commercialization and impact on U.S. manufacturing and job creation are encouraged to apply. Successful applicants may receive up to $3 million over three years to research, develop, and deploy new technologies.
Applications are currently being accepted for the following technology areas of interest:
Biomass Technologies
1.Harvesting/Dewatering Technology for Algal Biofuels Production.
Buildings Technologies
1. Transitional Technology for Organic Light Emitting Diodes (OLEDs)
2. SSL Products made from Organic Light Emitting Diodes (OLEDs)
3. “Core” Technology for Organic Light Emitting Diodes (OLEDs)
Fuel Cell Technologies
1. Advanced Materials for Fuel Cell Technologies
2. Bio-Fueled Solid Oxide Fuel Cells
Geothermal Technologies, High Temperature Tools and Sensors
1. High Temperature Downhole Tools
2. High-Temperature-High-Volume Lifting
3. High Temperature Downhole MWD Tools for Directional Drilling
Industrial Technologies
1. Sensors and Controls
2. Industrial Membrane Process Systems
3. Advanced Materials
4. Integrated Reaction-Separation using non-thermal processes
5. Mitigation of Heat Losses, Fouling, and Scaling in key Manufacturing Unit Operations.
Solar Technologies - Lowering the Cost of Photovoltaics through Innovative Augmentation
1. Lightweight, Flexible and Low Cost Multi-junction Solar Cells
2. Static Module PV Concentrators
3. New Methods of Crystallizing Silicon
Vehicle Technologies
1. Technologies to Address Internal Heating in DC Bus Capacitors
2. Improved Magnetic Materials for Motors
3. Advanced Materials for Lightweight Vehicles
Wind Technologies
1. Advanced Wind Power Technologies and Systems
Fossil Energy
1. Pollution control
2. Advanced power systems
3. Stationary power fuel cells
4. Clean fuels
5. Carbon sequestration
6. Recovery of oil, natural gas, and methane hydrates
7. Advances in materials, sensors, monitors, controls, biotechnology, and computational processes
Electricity Delivery and Energy Reliability
1. Smart Grid Technologies and Systems
2. Electric Transmission Technologies
3. Superconducting Technology for Power Equipment
4. Advanced Materials for Power Electronics and Energy Storage
Nuclear Energy
1. Advanced Instrumentation and Control, Radiation Resistant Sensors, and Wireless On-Line Monitoring Systems for Nuclear Power Plant Applications
The deadline for submission of applications is August 4, 2010, at 8pm EST.
Information regarding applications is available in the funding notice section at: http://www.er.doe.gov/sbir/.
For more information about the DOE FY 2010 Phase III Xlerator Program please visit http://www1.eere.energy.gov.
###
Washington, DC -- U.S. Energy Secretary Steven Chu announced yesterday that $30 million in funding from the Recovery Act and FY 2010 budget appropriations will be made available to qualified small businesses to support the commercialization of promising new technologies. Today's funding announcement builds on the Department's existing efforts under the Small Business Innovation Research program (SBIR) and the Small Business Technology Transfer program (STTR) to develop near-term clean energy technologies and support American small businesses that will play an important role in building the clean energy economy of the future. This is the first time DOE has offered Phase III awards under these small business programs.
Small companies previously awarded Phase II grants through DOE's Small Business Innovation Research program (SBIR) or the Small Business Technology Transfer program (STTR) are eligible. Projects that include developed technologies with a strong potential for commercialization and impact on U.S. manufacturing and job creation are encouraged to apply. Successful applicants may receive up to $3 million over three years to research, develop, and deploy new technologies.
Applications are currently being accepted for the following technology areas of interest:
Biomass Technologies
1.Harvesting/Dewatering Technology for Algal Biofuels Production.
Buildings Technologies
1. Transitional Technology for Organic Light Emitting Diodes (OLEDs)
2. SSL Products made from Organic Light Emitting Diodes (OLEDs)
3. “Core” Technology for Organic Light Emitting Diodes (OLEDs)
Fuel Cell Technologies
1. Advanced Materials for Fuel Cell Technologies
2. Bio-Fueled Solid Oxide Fuel Cells
Geothermal Technologies, High Temperature Tools and Sensors
1. High Temperature Downhole Tools
2. High-Temperature-High-Volume Lifting
3. High Temperature Downhole MWD Tools for Directional Drilling
Industrial Technologies
1. Sensors and Controls
2. Industrial Membrane Process Systems
3. Advanced Materials
4. Integrated Reaction-Separation using non-thermal processes
5. Mitigation of Heat Losses, Fouling, and Scaling in key Manufacturing Unit Operations.
Solar Technologies - Lowering the Cost of Photovoltaics through Innovative Augmentation
1. Lightweight, Flexible and Low Cost Multi-junction Solar Cells
2. Static Module PV Concentrators
3. New Methods of Crystallizing Silicon
Vehicle Technologies
1. Technologies to Address Internal Heating in DC Bus Capacitors
2. Improved Magnetic Materials for Motors
3. Advanced Materials for Lightweight Vehicles
Wind Technologies
1. Advanced Wind Power Technologies and Systems
Fossil Energy
1. Pollution control
2. Advanced power systems
3. Stationary power fuel cells
4. Clean fuels
5. Carbon sequestration
6. Recovery of oil, natural gas, and methane hydrates
7. Advances in materials, sensors, monitors, controls, biotechnology, and computational processes
Electricity Delivery and Energy Reliability
1. Smart Grid Technologies and Systems
2. Electric Transmission Technologies
3. Superconducting Technology for Power Equipment
4. Advanced Materials for Power Electronics and Energy Storage
Nuclear Energy
1. Advanced Instrumentation and Control, Radiation Resistant Sensors, and Wireless On-Line Monitoring Systems for Nuclear Power Plant Applications
The deadline for submission of applications is August 4, 2010, at 8pm EST.
Information regarding applications is available in the funding notice section at: http://www.er.doe.gov/sbir/.
For more information about the DOE FY 2010 Phase III Xlerator Program please visit http://www1.eere.energy.gov.
###
Monday, June 21, 2010
SBA Offers Free Webinar and Web Chat to Encourage Disaster Preparedness Planning for Business Owners
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WASHINGTON –No matter what time of year it is, or where you run your business, it’s a good idea to have a disaster preparedness plan in place. Recent disasters, such as the record-breaking flooding which occurred in Tennessee in April, serve as reminders to be proactive when it comes to building strategies to survive a disaster and recover quickly.
Toward this end, the U.S. Small Business Administration will offer two online disaster preparedness events next week. On Tuesday, June 22, Agility Recovery Solutions CEO Bob Boyd will discuss 10 Steps to Business Preparedness. Boyd will highlight key aspects of business continuity planning, including risk assessment, data back-up, crisis communications and insurance coverage.
On Thursday, June 24, SBA’s monthly Web Chat will be hosted by Nashville business owner Genma Holmes, CEO of Holmes Pest Control. Holmes will share her experience of how another business owner’s losses after Hurricane Katrina inspired her to develop her own preparedness plan. Because she was ready for the disaster, Holmes was able to resume operations just one day after cleaning up after a recent flood in Nashville.
TUESDAY, JUNE 22, 2010
WHO: Bob Boyd, CEO, Agility Recovery Solutions
WHAT: During the Tuesday Webinar, Agility CEO Bob Boyd will present 10 Tips to Business Preparedness, which will be followed by a question and answer session.
WHEN: 2:00 – 3:00 p.m. EDT
HOW: Register in Advance for 10 Tips to Business Preparedness by visiting Agility’s “Prepare My Business” Web site at www.preparemybusiness.org/education.
THURSDAY, JUNE 24, 2010
WHO: Genma Holmes, CEO, Holmes Pest Control
WHAT: Small business owner Genma Holmes will host the Thursday Web chat on “Disaster Preparedness for Business Owners: An Inside View,” and give her own account of how disaster preparedness planning helped keep her business running after Nashville’s recent record-breaking floods. Holmes will take questions and offer advice on disaster preparedness. Those participating in the Thursday Web chat may submit questions before or during the chat discussion.
WHEN: 1:00 – 2:00 p.m. EDT
HOW: Join the chat live by visiting www.sba.gov, and clicking “Online Business Chat.” Web chat participants may post questions prior to the chat by visiting: http://web.sba.gov/livemeeting/Jun10 .
To review archives of past Web chats, visit http://www.sba.gov/tools/monthlywebchat/index.html
# # #
Advisory Date: June 17, 2010 Contact: Cecelia Taylor (202) 401-3059
Advisory Number: MA10-10 Internet Address: http://www.sba.gov/news
---
WASHINGTON –No matter what time of year it is, or where you run your business, it’s a good idea to have a disaster preparedness plan in place. Recent disasters, such as the record-breaking flooding which occurred in Tennessee in April, serve as reminders to be proactive when it comes to building strategies to survive a disaster and recover quickly.
Toward this end, the U.S. Small Business Administration will offer two online disaster preparedness events next week. On Tuesday, June 22, Agility Recovery Solutions CEO Bob Boyd will discuss 10 Steps to Business Preparedness. Boyd will highlight key aspects of business continuity planning, including risk assessment, data back-up, crisis communications and insurance coverage.
On Thursday, June 24, SBA’s monthly Web Chat will be hosted by Nashville business owner Genma Holmes, CEO of Holmes Pest Control. Holmes will share her experience of how another business owner’s losses after Hurricane Katrina inspired her to develop her own preparedness plan. Because she was ready for the disaster, Holmes was able to resume operations just one day after cleaning up after a recent flood in Nashville.
TUESDAY, JUNE 22, 2010
WHO: Bob Boyd, CEO, Agility Recovery Solutions
WHAT: During the Tuesday Webinar, Agility CEO Bob Boyd will present 10 Tips to Business Preparedness, which will be followed by a question and answer session.
WHEN: 2:00 – 3:00 p.m. EDT
HOW: Register in Advance for 10 Tips to Business Preparedness by visiting Agility’s “Prepare My Business” Web site at www.preparemybusiness.org/education.
THURSDAY, JUNE 24, 2010
WHO: Genma Holmes, CEO, Holmes Pest Control
WHAT: Small business owner Genma Holmes will host the Thursday Web chat on “Disaster Preparedness for Business Owners: An Inside View,” and give her own account of how disaster preparedness planning helped keep her business running after Nashville’s recent record-breaking floods. Holmes will take questions and offer advice on disaster preparedness. Those participating in the Thursday Web chat may submit questions before or during the chat discussion.
WHEN: 1:00 – 2:00 p.m. EDT
HOW: Join the chat live by visiting www.sba.gov, and clicking “Online Business Chat.” Web chat participants may post questions prior to the chat by visiting: http://web.sba.gov/livemeeting/Jun10 .
To review archives of past Web chats, visit http://www.sba.gov/tools/monthlywebchat/index.html
# # #
Advisory Date: June 17, 2010 Contact: Cecelia Taylor (202) 401-3059
Advisory Number: MA10-10 Internet Address: http://www.sba.gov/news
Friday, June 4, 2010
AG SECRETARY VILSACK AND SMALL BIZ ADMIN MILLS ANNOUNCE AGREEMENT TO STIMULATE RURAL BUSINESS CREATION AND EXPANSION
Partnership Will Increase Access to Capital in Rural Communities; Spur Business Growth, Job Creation
HILLSBORO, Mo., June 3, 2010 - Agriculture Secretary Tom Vilsack and U.S. Small Business (SBA) Administrator Karen G. Mills today announced that the two agencies have signed an agreement to encourage sustainable growth and development of rural small businesses. The announcement was made during the National Summit of Rural America, which gathered agricultural leaders, farmers, ranchers, community leaders, and residents of rural communities to share their vision and ideas that can help rebuild and revitalize rural America.
The agreement between the SBA and USDA is designed to reach out to people and places in rural areas and small communities with underserved financial needs. Prospective small businesses owned by minorities, women and veterans also are expected to benefit from this joint effort to encourage sustainable growth and development. USDA Rural Development's Rural Business Service will provide loan guarantees, loans and grants; the Small Business Administration will provide loan guarantees.
The MOU will remain in effect for three years. Under the agreement, USDA Rural Development and SBA will use their respective resources to provide small businesses in rural areas with loan guarantees and technical assistance to help build diverse and sustainable economies, reverse population decline, create and sustain jobs, and improve quality of life. The agreement is expected to:
* Improve opportunities for small businesses to start and grow;
* Improve coordination in the delivery and development of programs; and
* Increase the number of small business loans guaranteed by USDA and SBA
Key goals of this partnership include strengthening marketing and outreach by enabling each Agency's field offices to advise potential small business borrowers of the other Agency's credit programs that may support all or a portion of the small business' financing needs. USDA Rural Development and SBA field offices will exchange promotional and reference materials, including brochures and training schedules, and will distribute the other Agency's information to its field network and its potential applicants when appropriate.
USDA and SBA will also encourage their networks of resource partners to refer rural businesses to the other Agency's resources, where appropriate. Rural Development's network includes National and State Rural Partnership Councils, State and sub-State Offices, and Appropriate Technology Transfer to Rural Areas. SBA's network includes Small Business Development Centers, SCORE Chapters, U.S. Export Assistance Centers, Veteran Business Outreach Centers and Women's Business Centers. By mutual agreement, USDA and SBA may identify pairings of State and district offices to explore mutual best practices available to serve clients.
The Small Business Administration works to assist and protect the interests of small business. SBA guarantees loans and provides business development assistance to small businesses. It administers its programs through district offices throughout the United States and provides additional services through its network of resource partners: the Small Business Development Centers (SBDC), SCORE, U.S. Export Assistance Centers (USEAC), Women's Business Centers (WBC), and Veterans Business Outreach Centers (VBOC).
USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a national network of 6,100 employees located in the nation's capital and in 500 national, state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of more than $134 billion in loans and loan guarantees.
Release No. 0300.10, Contact: USDA, Weldon Freeman, (202) 690-1384 SBA, Hayley Matz (202) 205-6948
#
Partnership Will Increase Access to Capital in Rural Communities; Spur Business Growth, Job Creation
HILLSBORO, Mo., June 3, 2010 - Agriculture Secretary Tom Vilsack and U.S. Small Business (SBA) Administrator Karen G. Mills today announced that the two agencies have signed an agreement to encourage sustainable growth and development of rural small businesses. The announcement was made during the National Summit of Rural America, which gathered agricultural leaders, farmers, ranchers, community leaders, and residents of rural communities to share their vision and ideas that can help rebuild and revitalize rural America.
The agreement between the SBA and USDA is designed to reach out to people and places in rural areas and small communities with underserved financial needs. Prospective small businesses owned by minorities, women and veterans also are expected to benefit from this joint effort to encourage sustainable growth and development. USDA Rural Development's Rural Business Service will provide loan guarantees, loans and grants; the Small Business Administration will provide loan guarantees.
The MOU will remain in effect for three years. Under the agreement, USDA Rural Development and SBA will use their respective resources to provide small businesses in rural areas with loan guarantees and technical assistance to help build diverse and sustainable economies, reverse population decline, create and sustain jobs, and improve quality of life. The agreement is expected to:
* Improve opportunities for small businesses to start and grow;
* Improve coordination in the delivery and development of programs; and
* Increase the number of small business loans guaranteed by USDA and SBA
Key goals of this partnership include strengthening marketing and outreach by enabling each Agency's field offices to advise potential small business borrowers of the other Agency's credit programs that may support all or a portion of the small business' financing needs. USDA Rural Development and SBA field offices will exchange promotional and reference materials, including brochures and training schedules, and will distribute the other Agency's information to its field network and its potential applicants when appropriate.
USDA and SBA will also encourage their networks of resource partners to refer rural businesses to the other Agency's resources, where appropriate. Rural Development's network includes National and State Rural Partnership Councils, State and sub-State Offices, and Appropriate Technology Transfer to Rural Areas. SBA's network includes Small Business Development Centers, SCORE Chapters, U.S. Export Assistance Centers, Veteran Business Outreach Centers and Women's Business Centers. By mutual agreement, USDA and SBA may identify pairings of State and district offices to explore mutual best practices available to serve clients.
The Small Business Administration works to assist and protect the interests of small business. SBA guarantees loans and provides business development assistance to small businesses. It administers its programs through district offices throughout the United States and provides additional services through its network of resource partners: the Small Business Development Centers (SBDC), SCORE, U.S. Export Assistance Centers (USEAC), Women's Business Centers (WBC), and Veterans Business Outreach Centers (VBOC).
USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a national network of 6,100 employees located in the nation's capital and in 500 national, state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of more than $134 billion in loans and loan guarantees.
Release No. 0300.10, Contact: USDA, Weldon Freeman, (202) 690-1384 SBA, Hayley Matz (202) 205-6948
#
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