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CITY COUNCIL AGENDA REPORT MEETING DATE: MAY 19, 2020ITEM NUMBER: NB1SUBJECT:APPROVE THE LAUNCH OF AN EMERGENCY SMALL BUSINESS LOAN PROGRAM IN PARTNERSHIP WITH SMALL BUSINESS DEVELOPMENT CENTER (SBC)
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Who needs small business development center?

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Small business owners looking for guidance and support in developing their business.
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A Small Business Development Center (SBDC) is a partnership between the federal government, state governments, and private sector organizations aimed at providing support and resources to small businesses, including advising, training, and access to funding.
Individuals and organizations that are seeking to establish or expand a small business and require guidance or resources provided by the SBDC are typically required to file with them.
To fill out the SBDC application, you should contact your local SBDC office for specific paperwork, gather required documentation such as business plans and financial statements, and submit the application as per the guidelines provided by the center.
The purpose of SBDC is to provide assistance to small businesses through various services, including business planning, market research, financial analysis, and access to funding opportunities to foster entrepreneurship and economic growth.
Reportable information typically includes business finances, market analysis, business plans, training received, and assistance requested or provided.
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