Pittsylvania County Board will be discussing in its meetings to consider continued funding for the ‘Longwood University Small Business Development Center’. The center has extended its relentless service in making loans available in small business owners in Dan River Region.
‘Longwood University Small Business Development Center’ is in dire need of funds and if it is not made available to the Center in 2012-13 then there is impending risk for the center to close down. The facility has the capacity to return $7 to $12 for every dollar invested within the community.
The center needs $125,000 every year to operate. For that reason, it requires local financial support, as without it, the SBA won’t come forward to make funds available to the center. In 2012-13, if it does not receive support from Pittsylvania County then it may end up to lose $60,000 from the U.S. Small Business Administration.
Small Business Development Centers make it feasible for entrepreneurs to find loan support. They also help businesses to do market research, business planning, and apply for small business loans.
Until fiscal year 2009-10, Pittsylvania county provided $12,500 to the Longwood University center. In 2010-11, it received $12,500 and in 2011-12 it found $11,000. Diane Arnold, the center’s director, is asking for at-least $10,000 in this fiscal.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to firstname.lastname@example.org