Answers | Resources | Support

Answers | Resources | Support

Answers | Resources | Support For Your Small Business U.S. Small Business Administration Answers | Resources | Support For Your Small Business Types of Assistance Access to Capital Counseling / Entrepreneurial Development Contracting / Procurement Assistance U.S. Small Business Administration Answers | Resources | Support

For Your Small Business Trends and Concerns Technology Available research data Greater sub-contracting opportunities Green Senior services U.S. Small Business Administration Intense competition Fickle customers Bank funding issues Good employees hard to find

Liability Answers | Resources | Support For Your Small Business Options for Starting Up Buy an existing business Ground work has already completed Proven performance over time Room for improvement? Start a business from scratch New market/product New twist on existing market/product Opportunity to create a value surplus Open a franchise small business

Marketing and product/service research done for you Templates for business plan, financials, assets www.franchiseregistry.com www.frannet.com U.S. Small Business Administration Answers | Resources | Support For Your Small Business Home Based Business Advantages Convenient work location Less expensive Flexible schedule Utilize available space Tax Advantages

U.S. Small Business Administration Disadvantages Zoning or deed restrictions Isolation from others Difficult financing Family distractions IRS scrutiny Answers | Resources | Support For Your Small Business Financing Programs SBA Loan Guaranty Programs 7(a) Loan Program

Microloans CDC/504 Program SBA Direct Disaster Loans SBA Grants Not available for starting/expanding Limited grants for research, development & innovation Small Business Innovation Research (SBIR) Small Business Technology Transfer (STTR) STEP Grant ND Trade Office - Exporting Accelerator Grant UND Center for Innovation U.S. Small Business Administration Answers | Resources | Support For Your Small Business 7(a) Loan Programs

Standard 7(a) (Term) SBA Express (Term / Revolving) Export Express (Term / Revolving) Export Working Capital Program (EWCP) International Trade Loan CAPLines Community Advantage U.S. Small Business Administration Answers | Resources | Support For Your Small Business SBA Veterans Advantage FY16 FY15

Patriot Express sunsets 31 Dec 2014 SBA launches SBA Veterans Advantage on Jan 1, 2015 SBA Veterans Advantage: reduced 3% fee to 0% for SBA Express loans of $150,001 to $350,000 7(a) loans (non Express) >$150M fees reduced by 50% up to $5M

SBA Veterans Advantage continues as it was in FY2015 Veterans Entrepreneurship Act of 2015 becomes law July 2015 Makes fee relief permanent for SBA Express loans under $350,000 *as long as SBA remains subsidy neutral* U.S. Small Business Administration Answers | Resources | Support

FY17 Veteran Entrepreneurship Act provisions remain To remain subsidy-neutral, SBA must adjust SBA Veterans Advantage fee relief Fees reduced by 50% for non-SBA Express 7(a) loans $150,001 $500,000 For Your Small Business 8 SBA Express Loans

Reduced Paperwork Fast turn around time Submitted electronically (Etran) Higher Interest Rate SBA/Export Express -Prime+ 6.5% Reduced Guarantee SBA Express 50% Limited to $350k U.S. Small Business Administration Answers | Resources | Support For Your Small Business SBA Loan Guaranty SBA Promises to reimburse a lender for losses at an agreed percentage of loss Up to 85% As low as 50%

Lender Benefits Reduced Risk Increased Liquidity Borrower Benefits Access to business credit Better terms and rates U.S. Small Business Administration Answers | Resources | Support For Your Small Business Use of SBA Guaranteed Loan

Proceeds Start up costs Working Capital Inventory Equipment Fixtures Business Acquisition Debt Refinance Purchase land and buildings U.S. Small Business Administration Answers | Resources | Support For Your Small Business 504 Loan Program Dakota Certified Development Corporation www.dakotacdc.com Lake Agassiz Certified Development Company

www.lakeagassizcdc.com Lewis and Clark Certified Development Company www.lewisandclarkrdc.org U.S. Small Business Administration Answers | Resources | Support For Your Small Business Certified Development Company (CDC) 504 Loans $50,000 to $5,000,000 ($5,500,000 for manufacturers) Create 1 job / $65,000 (Not Vets/Women Owned) Finances only fixed assets Loan-to-Value loan Three part loan

Commercial lender provides 50% (1st Lien) 504-CDC portion is up to 40% (2nd Lien) Owner/Borrower makes up the difference 504-CDC part term 20 year fixed rate for real-estate 10 year fixed rate for equipment Occupancy requirement 51% of existing & 60% of new construction U.S. Small Business Administration Answers | Resources | Support For Your Small Business Bank of North Dakota

ND Department of Commerce USDA Rural Development US Small Business Administration Center for Technology www.ECND.net U.S. Small Business Administration Answers | Resources | Support For Your Small Business Other Methods of Financing

Commercial Term Loans Lines of Credit Credit Cards Home Equity Loans - Real Estate Loans Leasing Investors Partners Seller Financing Friends and Family U.S. Small Business Administration Answers | Resources | Support For Your Small Business Crowd Funding Crowd funded equity made legal with the JOBS act of 2012, and the SEC is developing regulations for platforms You will be able to trade cash for ownership in your company via crowd funding websites

Pros: You can cast wider net for potential investors Cons: You may not want the crowd as a part owner of your company Resources: www.kickstarter.com www.indiegogo.com www.fundvet.com Many more...just Google: Crowd Funding U.S. Small Business Administration Answers | Resources | Support For Your Small Business Additional Programs Bismarck Vision Fund and Mandan Growth Fund

Business assistance 701.222.5530 Lewis and Clark Regional Development Council Loans for business development 701.667.7620 Microloan Program Loans for Working Capital, Inventory, Equipment Contact Lake Agassiz Regional Council 701.235.1197 Intermediary Relending Program Loans for Working Capital, Inventory, Equipment, Buildings Contact USDA Rural Development for IRP lenders in your area 701.530.2065 Main Street Loan Program - Dakota Certified Development Corp. Loans

for business development up to $50,000 701.239.8892 U.S. Small Business Administration Answers | Resources | Support For Your Small Business Contracting / Procurement Assistance Insure Small Businesses Receive Their Fair Share of Government Contracts Programs Surety Bonds 8(a) Historically Underutilized Business (HUB) Zones U.S. Small Business Administration Answers | Resources | Support For Your Small Business

Surety Bond Guaranty Program SBA - Guarantee Bonds for Contracts up to $10 Million for Small and Emerging Contractors who Cannot Obtain Surety Bonds Through Regular Commercial Channels SBA - Provides Bond Company a Guarantee up to 90% of the Contract U.S. Small Business Administration Answers | Resources | Support For Your Small Business 8(a) Business Development Requirements to be Eligible as an 8(a) Contractor Own 51% of company Be U.S. citizen Belong to a Disadvantaged Group Personal Net Worth Cannot Exceed $250,000 Exclude Business and Real Estate Equity

Be a Small Business Based on NAICS Code Been in business for 2 yrs Meet Management and Capability Tests U.S. Small Business Administration Answers | Resources | Support For Your Small Business HUB Zone Program Provide economic development to communities through government contracts. Principal office must be located in a HUBZone. 51% owned by a U.S. citizen. 35% of employees must live in HUBZone areas. Must be small business according to NAICS code. U.S. Small Business Administration Answers | Resources | Support

For Your Small Business HUB Zone Benefit Set-aside awards Sole source awards Awards through full and open competition after application of 10% price evaluation preference Subcontracting Opportunities U.S. Small Business Administration Answers | Resources | Support For Your Small Business SBA Resources SBA www.sba.gov www.sba.gov/nd SCORE www.score.org

Small Business Development Centers (SBDC) http://ndsbdc.org or www.sbdcnet.org Womens Business Center (WBC) https://www.sba.gov/tools/local-assistance/wbc Social Media https://www.facebook.com/SBAgov/ https://mobile.twitter.com/sbagov https://www.youtube.com/user/sba U.S. Small Business Administration Answers | Resources | Support For Your Small Business Contact Information SBA Offices Fargo (701) 239-5131 Bismarck (701) 250-4303

Grand Forks (701) 746-5160 [email protected] www.sba.gov/nd U.S. Small Business Administration Answers | Resources | Support For Your Small Business U.S. Small Business Administration Answers | Resources | Support For Your Small Business

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