Small Business Resources
Minnesota Small Business Development Centers (SBDC)
University of St. Thomas
1000 La Salle Avenue, Suite TMH 100
Minneapolis, MN 55403
(651) 962-4508 fax
Contact: Mike Ryan
SBDC provides free on-on-one consulting for small businesses and start-ups in the areas of strategy and business planning market research, financial planning and analysis, debt and equity financing, cash flow management, new product development and human resources. SBDC sponsors moderately-priced seminars for Twin Cities small businesses and also provides assistance with feasibility studies and business planning. There is no consulting fees or fees to access business information but there is a nominal fee to attend SBDC sponsored seminars (usually under $50).
Minnesota SBIR/STTR Assistance Program
1st National Bank Building
332 Minnesota Street, Suite E200
Saint Paul, MN 55101-1351
(651) 296-5287 fax
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs will provide over $2 billion in grants and contracts to small and start-up companies to develop new products and services based on advanced technologies.
The foundation of both programs is to fund small businesses in their R&D efforts leading to commercialization of products and services. Think about the SBIR & STTR programs as the R&D budget to develop products that fit within the strategic mission of the small business.
Small Business Administration (SBA)
SBA District Office
Butler Square Building, Suite 210
100 North 6 th Street
Minneapolis, MN 55403
(612) 370-2303 fax
SCORE – Counselors to America’s Small Businesses
SCORE Chapter #2
Bremer Bank Building
8800 Hwy 7, Suite #103
Saint Louis Park, MN 55426
Hours: Monday - Friday 8:30 - 12:00 noon
(952) 938-2651 fax
The SBA offers a variety of financing options to small businesses. The agency is primarily a guarantor – guaranteeing loans made by banks or other private lenders to small business clients. The agency guarantee reduces the magnitude of a losses to the lender and makes it easier for a small business client to borrow money.
The SBA and SCORE must meet all the needs of a small business, including planning, financing, marketing and operations. There is no charge for SBA non-financial services. Loan guarantee fees are generally assessed to the borrower by the lender. SCORE services are free, except for nominal charges for their workshops.
The WEB Center primarily services low-income (less than $1 million in annual gross sales) early-stage–development small businesses in the Whittier neighborhood with intensive, integrative help for small business development. The WEB Center hopes to expand into other neighborhoods in the near future. WCDC makes loans to small businesses in the Whittier neighborhood. Whittier Works Program is an employment program that places Whittier residents in positions with Whittier companies.
Hands-on support/help for clients for most, if not all, facets of their business is provided here. The WEB Center’s goal is to have clients come out of the class with something they can use (i.e., a business plan). The WEB Center operates an incubator site in the Whittier neighborhood as a low cost space alternative for small businesses. They will refer clients to outside sources if they are unable to provide the required service. Costs vary depending on the service provided. Often, expensive seminar fees are subsidized for low-income business owners (as low as $30).
Last updated May 30, 2014