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News from Morehead State University
Small Business Development Center
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Success Story
 Michael Snedegar contacted the Kentucky Small Business Development Center in Morehead in March of 2014. He was referred to the SBDC from a lender. Snedegar had a hunting supply business, which he operated out of his home for several years. With that being a success, he was hoping to purchase a building and land in Mount Sterling to open a retail shop.
The lender needed some projections and some additional information. Snedegar worked with Mark Murphy at the Morehead SBDC and they prepared three year projections, gathered industry data and the required information. Snedegar took the proposal to the lender and applied for a loan. The loan was approved and he began renovation at his new location. After several months of renovating, Snedegar and his partner, Andi Marcum opened Shadetree Hunting & Pawn on August 1st, 2014. They carry firearms, hunting equipment and have begun a pawn shop. When asked about SBDC's services, Snedegar said, "It is great to have services like the SBDC available to help with the process of getting a commercial loan. Mark Murphy was great, he answered all of my questions and helped with every thing I needed!"
Find them on Facebook and visit their website shadetreehuntingsupplies.com for additional information.
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 Borrowing money is one of the most common sources of funding for a small business, but it's not always easy. Before you approach a lender for a loan, you need to understand the factors the bank will use to evaluate your application.
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Training Schedule
How to Finance a New or Existing Business 12/08/14
Doing Business with the Government 12/01/14
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 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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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.
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