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February 6, 2009

LSBDC-ULM Director acknowledged as member of “Million Dollar Club”

The Director of Louisiana Small Business Development Center at the University of Louisiana at Monroe recently received the “Million Dollar Club” award for helping clients secure more than a million plus in capital.

The LSBDC statewide network honored Paul Dunn, Ph.D., for making a significant economic impact in Northeast Louisiana.

Dunn heads a LSBDC center at ULM, which provides confidential, one-on-one business consulting and entrepreneurial training to help small businesses, and entrepreneurs start or grow their businesses. Consulting services are at no cost.

During a one-year period, the center helped 98 clients secure more than $3.2 million dollars in capital to start or expand their businesses. LSBDC officials report that these small businesses created 71 new jobs and saved four existing jobs.

From Oct. 1, 2007 to Sept. 30, 2008, 15 new businesses opened in northeast Louisiana with assistance from the LSBDC at ULM.

“The LSBDC network is proud to recognize Dr. Dunn for a job well done,” said Mary Lynn Wilkerson, LSBDC State Director.

“He has provided quality consulting to entrepreneurs and small businesses which create real economic impact for their communities,” she said.

According to an independent ASBDC Economic Impact Study for Louisiana, LSBDC clients experience a 25 percent greater sales increase and an 11 percent greater increase in employment levels as compared to the average Louisiana business.

The Center is operated in partnership with the University of Louisiana at Monroe, the Louisiana Economic Development office and the U.S. Small Business Administration.

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