starting a business: community resources
by sandi tomlin-sutker

Attention all you budding or growing entrepreneurs! Whether you need advice about your initial product or service idea, want help fine-tuning your business plan to get that much needed financing, or you’re ready to expand an already successful venture, there are resources available free or for minimal cost. The following is a brief listing of local and online business support:

A-B Tech Community College’s Small Business Incubator “provides services and location for nurturing small business start-ups.” The center, under the direction of Harry Ponder, is located at the Enka campus, 1459 Sand Hill Rd., Enka, NC: 828-254-1921. This useful and accessible center gives free counseling to business owners, sponsors workshops and seminars, has a resource library and will refer you to local community resources. If you need support or information about management, communications, taxes, business operation or business planning, they can provide it. Their web address is: asheville.cc.nc.us/business/sbc/sbc/htm.

Mountain Microenterprise Fund (MMF) is a private, non-profit whose purpose is to help low and moderate income individuals start or expand local small businesses. They provide technical assistance and loans and act as a resource to entrepreneurs who lack either the technical skills or capital resources to start a small business. MMF sponsors regular informational meetings and Peer Groups of 4-10 members. These groups help members organize and improve their businesses with six sessions focusing on cash flow, marketing, loan proposals, etc. Contact them at 828-253-2834 or 888-389-3089 or on the Web at mtnmicro.org.

North Carolina Business & Technology Development Center is a service of the University of North Carolina University System in partnership with the United States Small Business Association (SBA). Their stated mission is to “provide management counseling and education services to help NC businesses meet challenges, manage change and plan for the future.” Their specialists assist technology-based businesses to commercialize innovative technology. In 2001, the SBTDC helped clients leverage over $20 million in equity from venture capitalists, private (“angel”) investors and other sources (in addition to over $40 million in debt financing). There are two locations in our area: Western Carolina University at Cullowhee – 828-227-3504, and the University of North Carolina at Asheville – 828-251-6025 or see their web site at sbtdc.org.

SCORE is a non-profit founded in the 1960s by the SBA (the Asheville chapter, with 20 volunteer members, was founded in 1966). Retired volunteers offer mostly free counseling and mentoring to help create business plans, as well as inexpensive Starter Seminars for $25.00. These seminars cover topics such as using the Internet, finances and business operation in the “real world”, sample plans a banker likes to see, how to pitch a proposal and they even reveal examples of what these business people learned from their own mistakes. In Hendersonville, call 828-693-8702; in Asheville call 828-271-4786. SCORE (at ashevillescore.org) also offers many online resources and links to sites such as Minority Business Development Agency (mbda.gov), a clearing house for business questions (answerdesk@sba.gov), and sample business plans (bplans.com) to name just a few.

Self-Help Credit Union is a non-profit community development lender with branches in Asheville and six other cities across North Carolina. They provide financing to homeowners, non-profits and small businesses. Their mission is to help those who are under served by traditional financial institutions, such as minorities, women and rural residents. They concentrate in the areas of home lending, small business lending and real estate development. In each area their goal is to serve low and moderate-wealth families, to help revitalize urban or rural areas and preserve and rehabilitate under-utilized or abandoned buildings. Much of their effort is supported by depositors in the communities they serve through federally insured, market rate accounts. The Asheville regional office can be reached at 828-253-5251 or 800-229-7428 or online at self-help.org.

Smoky Mountain Development Corporation, in partnership with the SBA, provides low down payment, fixed rate, long­-term financing to established small businesses for the purchase of fixed assets. Eligible small businesses may borrow up to $750,000 to finance fixed assets including land, buildings, new construction, renovation, machinery and equipment, and leasehold improvements. Fixed assets must have a useful life of at least ten years. A minimum of 10 percent of the financing for the project must be provided by the small business and the remaining 50 percent from a commercial lender. They can be reached at 828-452-1967 in Waynesville.

If you are unable to secure a traditional business loan from a bank, the Mountain Commercial Lending Consortium (MCLC) may be a source of financing. The requirements for consideration include a business plan, financial projections to validate your need for capital, uses and repayment of funds, and adequacy of business plans and management to succeed. There are three tiers of loans and available financing ranges from $1- 150,000. Find out more at 828-227-7492 or 800-621-0008 in Cullowhee.

Hand Made in America has partnered with Self-Help of North Carolina to provide financial assistance to crafts people and those building craft businesses within its 21-county service area. Loans may be used for equipment, studio construction/expansion, real estate purchase for shop/gallery purchase or expansion and working capital for materials, inventory, and/or payroll. Galleries and shops seeking financial assistance must sell American-made products, and handmade objects must comprise 75% of inventory. Hand Made in America (at 828-252-0121 in Asheville or at handmadeinamerica.org) is providing pre-loan information and referral only. The Self-Help Credit Union will handle all approval and loan specific issues.

Finally, there is that wealth of information known as the World Wide Web! Type in a search for “Small business resources” and you’ll see links such as sba.gov/training that provides online business counseling. And a delightful site, ideacafe.com, has categories about starting and financing a business, legal, tax and business forms, marketing and sales, and just about everything you need to know to start, grow and sustain a successful business venture.