Longmont SBDC satellite could open early next year

LONGMONT – The long-awaited Small Business Development Center satellite in Longmont could open as soon as January.

The Longmont and Boulder chambers of commerce have been in talks for about a year to expand the Boulder SBDC into Longmont, said Longmont Chamber President Kathy Millisor.

The proposed deal would have Boulder SBDC Director Sharon King and an administrator spend 20 percent of their time, or one day per week, working out of an office at the Longmont chamber.

King and Millisor each stressed that the discussion is preliminary, but that the pieces seem to be falling into place to make the satellite a reality early next year.

The Boulder chamber has hosted the Boulder SBDC, which serves all of Boulder County, for more than 12 years, King said. “The Boulder chamber has been really wonderful about allowing us to restructure how we do things so we can bring more services to Boulder County.”

Small Business Development Centers, of which there are 15 in the state, are primarily funded by the Small Business Administration. In Colorado the SBA gives the money to the Office of Economic Development in Denver, which manages the statewide network.

There are 63 lead Small Business Development Centers – one in every state (Texas has four, California six), the District of Columbia, Guam, Puerto Rico, Samoa and the U.S. Virgin Islands – with a network of more than 1,100 service locations. In each state there is a lead organization – like Colorado Office of Economic Development – which sponsors the SBDC and manages the program. Subcenters – like the Boulder SBDC – are located at colleges, universities, community colleges, vocational schools, chambers of commerce and economic development corporations.

The Boulder center receives $53,000 from the SBA per year, and the Boulder chamber puts up a 50 percent cash match. It also contributes a 50 percent in-kind match in the form of two offices, computer network and telephones, and use of the training facilities in its building. Additional funding comes from sponsors.

King said Chase Bank is a $5,000 per year sponsor, and that she’s submitted sponsorship proposals to the city of Boulder and several other organizations.

When the Longmont satellite opens, the Boulder SBDC will receive an additional $10,000 from the SBA along with a 50 percent cash match and 50 percent in-kind match from the Longmont chamber.

Other Longmont sponsors include the city of Longmont, which is contributing $5,000 from its economic development budget, New Frontier Bank with $5,000 and one othe undetermined sponsor King said.

King’s budget in 2006 was $150,000, paid for by the SBA, chamber, sponsorships and some income generated from workshops, which cost $50 in 2006, and its $445 10-week business plan class.

The 2007 budget isn’t complete yet, King said.  But she said workshops will cost $45 in 2007 to make the program more accessible.

The SBDC program delivers conseling, training and technical assistance ot small-business owners.  Services include financial, marketing, production, organization, engineering and technical assistance and feasibility studies.  It also helps small businesses apply for Small Business Innovation and Research grants from federal agencies.

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