December 14, 2012
From: Laura Clark
Director of Media Relations
ULM receives $2.5 million for LSBDC; marks 30th annual grant
The University of Louisiana at Monroe has received two contracts totaling $2,518,564 for the operation of the Louisiana Small Business Development Center.
This marks the 30th consecutive year the LSBDC has received funds from the U.S. Small Business Administration and Louisiana Economic Development.
ULM President Dr. Nick J. Bruno applauded the efforts of the LSBDC at ULM.
“This grant allows the LSBDC to continue the services they have provided for the last 30 years and reaffirms the value of the LSBDC to the businesses of the region and across the state.”
The LSBDC at ULM is a nationally accredited program that provides business consulting to new and existing entrepreneurs for 11 parishes in northeast Louisiana and statewide.
The contract ensures the continuation of services provided by the LSBDC state office.
Services include managing and supporting affiliate SBDCs across the state, as well as assisting small businesses with strategic planning, business-to-business sales, loan packaging, business plan development, and international trade.
State Director of the LSBDC Mary Wilkerson said, “We appreciate the funding from the U.S. Small Business Administration and the Louisiana Economic Development. The grant will help us continue to provide critical services for the Louisiana small business community.”
LSBDC has had a significant impact in the local community and in the state.
Since Jan. 1, 2002, the LSBDC network has assisted 35,576 aspiring and existing entrepreneurs; helped start 1,410 businesses; created 8,819 jobs; and saved 6,364 jobs.
The LSBDC also supports businesses by providing entrepreneurial training.
Over the past 10 years, the LSBDC has held over 5,300 training events for nearly 93,000 attendees.
Accessing financing for business owners is a service that the LSBDC also continues to provide, with a total financing amount of $670,937,471, which includes loans, owner investments, and other capital.
The LSBDC has also helped small businesses increase sales by more than $703 million.
As the host university of the LSBDC network, ULM has demonstrated its commitment to small businesses for 30 years and has created a statewide footprint for entrepreneurial development.
Dr. Ron Berry, ULM Dean of College of Business Administration, said, “ULM is proud of its long association with the U.S. Small Business Administration and the Small Business Development Center program. The College of Business has been fortunate to host the state office of the Louisiana Small Business Development Center network for the past 30 years and looks forward to continuing this great relationship that provides significant support for the development, growth and resilience of small businesses all across Louisiana.”