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Greetings!enjoy the latest news from the Morehead State University Small Business Development Center |
 The Kentucky Small Business Development Center is a network of 15 offices located throughout the commonwealth that help existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. These services include: no-cost confidential business consultations, affordable business workshops, seminars and research to help business owners make informed business decisions. For more information or to locate a consultant near you, visit www.ksbdc.org.
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One of the most frequent questions we get at the Kentucky Small Business Development Center is, "where can i find a grant or free money to start my business?". Click HERE for a guide to separate myth from fact.
Click HERE for an article from the SBA titled, "Small Business Myth-Buster's"
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SUCCESS STORY
CAB's Catering
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Click logo for CAB's Facebook page
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A father and son visited the Ashland SBDC office to discuss the possibility of purchasing property to open a catering business. The son recently graduated from a culinary arts program, and his father was eager to help him start and grow his own catering business. They were interested in purchasing and renovating commercial property. This would enable them to customize the kitchen and food prep areas. They met with Ashland SBDC Consultant Kim Jenkins for a few months, and together, they reviewed potential locations, start-up costs, and loan options.
The client located some commercial property for sale in Ashland, KY. Jenkins assisted them with business planning, financial forecasting, and loan packaging. She worked with them to prepare three-year cash flow/profit-loss financial projections and loan paperwork for submission to a local bank and FIVCO-ADD.
In September 2013, the client was approved for bank funding to purchase and renovate the commercial property. In January 2014, the client was approved for a FIVCO-ADD loan to cover additional renovation costs and working capital.
They began installing a commercial kitchen and hood/ventilation system. In addition, they learned that two local catering companies were planning to close; so they purchased the assets of each business including equipment/machinery, furniture/fixtures, utensils/dishes, etc... They are excited about their future in the catering industry, and they have been contracted for various catering projects. Visit their website here! or contact 606-325-2227. |
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TRAINING SCHEDULE
Morehead Center
Paintsville Center
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Funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of SBA. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Equal opportunity organization.
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