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12 Ways ASBTDC Can Assist Your Customers
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· Market information and research· Site selection · Financial benchmarks · Industry trends and outlook · Business planning · Expansion planning · Ratio analysis · Marketing · Projections · Training (classroom and online) · Website optimization · Loan proposals 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. 501.683.7700 800.862.2040
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Podcasts
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Have five minutes?Listen to one of ASBTDC's Startup Arkansas podcasts. Our growing library of podcasts for new or prospective startups now includes
"Free Resources to Help You Start Your Business"
"Dos and Don'ts for Business Plans"
"Qualifying for a Business Loan"
"Marketing Basics for Your Startup"
"Legal Forms of Business"
Listen now
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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: Small businesses secured nearly $100 billion in federal contracts in 2010.
Source: U.S. Small Business Administration
Contracting can mean stable revenues and cash flows for small businesses. Contract awards typically generate short-term financing needs for working capital for inventory and bonding that result in low-risk commercial loans. For lenders, this can result in ongoing business with your most stable commercial clients as they grow their businesses through careful expansion.
The federal government is the world's largest buyer of goods and services, with purchases exceeding $425 billion per year. But procurement opportunities are by no means limited to federal government contracting. States, municipalities, schools and medical facilities frequently solicit bids from small businesses.
So do private corporations. In an effort led by IBM to redirect procurement from overseas suppliers to domestic firms, a group of multinational corporations that spend a combined $300 million with vendors have created Supplier Connection, a web-based portal that enables U.S. small businesses to apply for vendor status.
Moreover, many private companies and governmental agencies have special procurement opportunities for certified veteran- or minority-owned small companies.
Have a customer interested in doing business with the local, state or federal government? Share ASBTDC's
First Steps Into Government Contracting.
Would you like us to discuss contracting or procurement with a client? ASBTDC's seven centers around the state are here to help you help your small business customers. Referrals can result in success for all parties: for the lender, timely loan repayment and repeat business; for the entrepreneur, valuable coaching and training through all aspects of operations; and for the ASBTDC, positive economic impact for the state of Arkansas. Call on us!
ASBTDC locations and contact information
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ADFA Loan Guarantee Program Supports Small Business Procurement
Arkansas Development Finance Authority has designed a loan guarantee program to assist small businesses with short-term  working capital needs that result from government and corporate contract awards.
The Small Business Loan Guarantee Program is available to lending institutions throughout the state. Previously reserved for DBE contractors, eligibility has been expanded (thanks to SSBCI funding) to any small business that meets your bank's lending criteria.
The program provides an 80-percent guarantee for short-term working capital needs to fulfill construction contracts, contracts for goods and services or purchase orders. It is designed for loans up to $200,000 with a term of one year, and the average processing time is 3 to 5 days.
For more information, contact ADFA's Bev Lambert at 501.682.5912 or bev.lambert@adfa.arkansas.gov.
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Success Story: MedEx Waste of Osceola Secures 75 Contracts in 1st Year
 Utilizing industry experience, a targeted customer profile and market research, one ASBTDC client has secured an impressive number of public and private contracts in its first year of business.
Headquartered in Osceola, MedEx Waste transports and disposes of medical waste. The company is registered with the U.S. Department of Transportation to deliver these services. MedEx Waste owner Michael Shane Nichols worked with Robert Bahn at the ASBTDC at Arkansas State University to develop a business and marketing plan to leverage the company's federal certification. In turn, Bahn collaborated with Michael Singleton, ASBTDC Innovation and Market Research Manager, to identify market potential in northeastern Arkansas and Shelby County and other parts of west Tennessee.
As a result, the company was able to readily identify target customers within its service area. Since the company's launch in August 2011, it has obtained 75 contracts with medical clinics, hospitals and school districts.
"Robert helped us from the start, all the way from doing our business plan and getting a loan," said MedEx Operations Manager Rusty Smith. "I started giving him counties, and he would provide lists of the doctors, dentists, nursing homes, veterinarians and other clinics for each county. There's no way we could have been where we are without that."
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Arkansas Procurement Conference
The Arkansas Procurement Opportunities Conference connects Arkansas business owners to opportunities for private and government purchasing contracts. Akin to "speed dating for businesses," attendees meet one-on-one with buyers, supply-chain and procurement professionals representing federal, state and local governments and corporations.
The 2012 conference is scheduled for April 24 from 7:30 a.m. to 3:30 p.m. at Verizon Arena in North Little Rock. The event is hosted by the Arkansas State Chamber of Commerce. To learn more, contact Susie Marks at 501.372.2222 or smarks@arkansasstatechamber.com.
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