FAYETTEVILLE, Ark. - The Small Business Development Center (SBDC) in the Sam M. Walton College of Business, University of Arkansas, has surpassed an important milestone in its outreach assistance. In November, the SBDC provided loan packaging and analysis assistance to its 100th client since 1999.

Lance Sexton, SBDC director, said, "While we provide a wide array of other services to the small business community of Northwest Arkansas, loan packaging and analysis assistance provides us with the most impact data."

The loan packaging and financial analysis assistance has resulted in 62 new businesses being started, 15 businesses expanding, and 25 businesses improving cash flow through debt restructuring. It also created or stabilized 2,055 jobs in Northwest Arkansas.

Year	# of Loans	Dollar Amount Packaged	Jobs Impacted
1999	16	$10,649,977	441
2000	29	$ 6,602,255	975
2001	25	$ 6,739,842	294
2002	33	$12,364,600	345
Totals	103	$36,356,674	2,055

 

Sexton said, "The growth of small business has become an important influence in moving out of the current economic slump. These statistics illustrate the impact that the Small Business Development Center has on the Northwest Arkansas small business community."

According to the U.S. Small Business Administration, the small business share of the private, nonfarm economy has increased to 52 percent over the last decade. The growth has been driven by the shift in the economy towards small business dominated sectors, such as services. "As firms start, grow, merge, split, contract, and exit over time, small firms continue to produce the majority of private economic output," said Tom Sullivan, chief counsel for the office of advocacy in the Small Business Administration.

Serving nine counties in north central and northwest Arkansas, the SBDC delivers high-quality service to all clients through three areas: seminars and conferences, one-on-one counseling, and its resource center.

The UA Small Business Development Center program is partially funded by the Sam M. Walton College of Business, the University of Arkansas and the Arkansas Small Business Development Center (ASBDC). The ASBDC is administered through the University of Arkansas at Little Rock and is partially funded by the U.S. Small Business Administration.