| Call on Us | | | We want to help your borrowers better understand their market, industry, and financials. ASBTDC offers one-on-one consulting services for current and prospective small business owners at no charge. Training and market research are also available. Our goal is to equip business owners with the information, guidance, and tools they need to make better business decisions.
800.862.2040 501.683.7700 |
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From Our Website
| Do you often find yourself explaining to current or prospective small business owners what they need to do to qualify for a loan?
We do, too. Many people come to the ASBTDC wanting assistance with obtaining financing. The ASBTDC created a page on our website in response to the frequent question, "Can I qualify for a business loan?"
As a lender, you know many factors have to be considered to answer that question. That's why on our website, the ASBTDC poses 10 questions back to the person pursuing a loan. For every question, we offer reasons the information is important to lenders.
To read our response to "Can I qualify for a loan?" click here.
ASBTDC values your feedback. We want to give our small business clients the best and most up-to-date information. To suggest additions to our web content on qualifying for financing, please contact Heather Robinette at hbrobinette@ualr.edu.
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The Arkansas Small Business and Technology Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. UALR is committed to the policy of providing equal opportunity for all persons and does not discriminate in employment, admissions, programs, or any other educational functions and services on the basis of sex, age, disability, race, and national origin, color, or religion.
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Fact: In 2010, the ASBTDC fulfilled 1,441 market research requests from Arkansas small businesses and helped clients secure $27.7 million in financing.
Too many small businesses are launched based on a hunch or "gut feeling." Consultants at the Arkansas Small Business and Technology Development Center make sure our clients are armed with something more - market and industry information they can utilize in their startup or expansion plans. The ASBTDC continues to be a leader in innovation and technology, offering a full array of cutting-edge financial, market and industry analysis at no cost to Arkansas small businesses.
"The proprietary research available through the ASBTDC would cost business owners thousands of dollars to obtain directly. This is the same type of information companies like Nike, Petco and Home Dept use to site their stores, develop new products and market themselves," said Michael Singleton, ASBTDC Innovation and Market Research manager. The industry intelligence available to Arkansas small businesses includes these tools:
 First Research -
Updated quarterly by industry specialists, First Research's profiles of more than 900 industry segments include real-time market analysis, trends and projections, opportunities and threats and benchmark financial ratios. The concise reports synthesize information from trade publications, annual reports, SEC filings and government sources such as the Census and Bureau of Labor Statistics.
 Bizminer - Business Valuation Resources notes, "Bizminer is the most compelling source of current industry-specific data available today." The Bizminer database offers industry financial benchmarks for more than 5,000 lines of business and market trends on thousands more. This tool can drill down to local market information by state, MSA or even by zip code.
 ProfitCents - This software converts complex financial data into an easy-to-understand format using plain-language text, a scoring system and graphics. Using ProfitCents, ASBTDC can analyze clients' financials and compare their performance with industry peers.
 Fintel Business Scorecard
- This tool allows ASBTDC to convert a business's financial statements into key performance indicators including liquidity, profitability, efficiency and growth ratios.
New Strategist Series - The comprehensive New Strategist series chronicles U.S. demographics and consumer spending patterns on a wide range of topics in a concise, well-written format. These references outline fascinating trends that give our clients an advantage over the competition.
For a sample or for more information about how your small business customers might utilize these tools, contact Singleton at masingleton@ualr.edu or (501) 683-7700.
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The Property Shop of Arkansas:
Startup uses telecomm technology
to stay on the cutting edge
Troy and Kristy Philbrook are utilizing a number of technological aids to operate The Property Shop of Arkansas, a real estate and property management company they recently opened in Pine Bluff.
 In working on their business plan, the Philbrooks took advantage of market research from the ASBTDC. The findings confirmed an increasing reliance within their industry on technology applications that enable more efficient service-call responses, more reliable occupancy data and more efficient information exchange within the real estate community.
The Philbrooks' son, Garet, outfitted the firm with a virtual communications system. Instead of a multi-extension landline system and fax machine, The Property Shop utilizes a mobile business phone network that connects all employees with one system even while they are in the field and allows call transfers among them. The application includes a fax system that opens faxes directly on smartphones as well as desktops.
The Philbrooks have also invested in property management software, IDX/real estate software and banking applications that allow renters to pay by electronic draft, reducing the risk of late fees due to mail delivery. Listings are sought and promoted through the company website, Facebook page and web-based classifieds such as Craigslist and Kijiji. The staff also uses a web-based application to send flyers featuring available homes via text message.
"As a busy family, we have always relied on technology to stay in touch," Kristy commented. "Using it in our family business is just a logical extension, and it frees us up to do our most important work, which is to serve our property owners and renters."
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Save the Date for Micro-Lending Summit
 Join the Federal Deposit Insurance Corporation and the ASBTDC on Tuesday, Oct. 4, for the 2011 Arkansas Small Business Summit: Micro-Lending for Entrepreneurs, an event aimed at bringing micro-business lenders and entrepreneurs together. The summit will be held from 3-7 p.m. at the University of Arkansas Division of Agriculture Building at 2301 S. University Ave. in Little Rock. There is a growing demand among small businesses for micro-business lending, an often overlooked source of capital. According to the Association for Enterprise Opportunity, a trade association representing some 450 micro-enterprise organizations, a micro-loan is $25,000 or less made to a company with five or fewer employees. The industry average micro-loan is $12,000. Small business owners and lenders are invited to attend this free event. Lenders can reserve free resource tables at the summit by contacting ASBTDC's Maradyth McKenzie at mgmckenzie@ualr.edu or (501) 683-7700.
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