Mission Statement
A group of citizens committed to:
- Providing assistance to new and existing businesses.
- Coordinating efforts of other groups and individuals for the
economic benefit of the community.
- Developing methods of obtaining input from consumers.
- Identifying and working on specific needs in the community.
- Developing and coordinating education efforts.
Adams County Development Corporation
Financial Incentive Program
Loan Collateral
Rent Subsidy
One-time Building Improvement
Interest Subsidy
Purpose:
To encourage the start-up and expansion of manufacturing, service, retail, and other businesses in Adams County.
To provide employment to residents of the Adams County area.
Eligibility:
New or expanding businesses including manufacturing, service and retail located in Adams County.
Applications will be reviewed based upon the ability of the business to fulfill the program's purpose and the availability of funds.
If an application is received from a business that has a direct competitor in the community served, either written consent must be obtained from direct competitors or approval by a 2/3 affirmative vote of the total board membership.
Loan Collateral
This program is designed to provide additional loan collateral for new or expanding businesses.
Guidelines:
Collateral can be set aside as a CD in a participating financial institution for up to 3 years.
Extension of the 3 year period will be reviewed as needed.
Application Process:
Application should be initiated in partnership with a local financial institution.
Submit the following with a request in writing:
Amount of collateral requested
Number of employees
Business Plan
Loan Documents
Application review based on plan feasibility, employment impact and reasonable rate of interest on base loan.
Rent Subsidy
Purpose: To improve the appearance of Main Street and other high traffic areas within the County by occupying vacant buildings.
Description: This program will provide cash subsidy of monthly rental expense.
Guidelines:
1. Cash subsidy of up to 40% of the monthly rental expense but limited to $1,000.00/yearly.
2. Subsidy available for 3 years paid quarterly.
Application Process:
1. Submit the following with a request in writing:
a. Building to be rented
b. Amount of subsidy requested
c. Relationship to lessor of property
d. Number of employees
2. Provide a copy of the Business Plan.
One-time Building Improvement
Description: Cash match for leasehold improvements on existing vacant buildings.
Guidelines: One-time cash match for building improvements to a maximum of $3000.00 to be paid quarterly over a 3-year period.
Application Process: Same as for Rent Subsidy.
Interest Subsidy
Description: The program provides for the "buydown" of interest on new or existing business loans at local financial institutions.
Guidelines:
Interest will be subsidized to the current average passbook savings rate (local), not less than 2.5 %.
Limited to a maximum of $1,000.00/yearly. To be paid quarterly over a 3 year period.
Application Process:
Submit the following with a request in writing:
Amount of subsidy requested
Number of employees
Copy of loan documents
Provide a copy of the Business Plan.
Other Development Corporation Assistance
The Adams County Development Corporation can provide assistance in various areas including:
-Local Business and Industry Data
-Development of Marketing and Business Plans
-Educational Materials
-Access to State, Federal & Regional Development Programs
Roosevelt - Custer Regional Council
Roosevelt - Custer Regional Council is incorporated as a non-profit, quasi-public organization, formed and supported by the local governmental units of southwestern North Dakota. The council provides planning and technical assistance to an eight county area composed of Adams, Billings, Bowman, Dunn, Golden Valley, Hettinger, Slope, and Stark Counties.
The activities of the Regional Council cover a broad spectrum as they pertain to the local government and the local resources of southwestern North Dakota.
Work activities deal with tourism, local community and county operations, land use, feasibility programs, legislative functions, and economic development assistance which includes three gap financing programs aimed at job creation.
The Regional Council represents one of the sources of information and implementation for entities located within southwestern North Dakota and can be reached at 1-701-225-1241.
Our Purpose
North Dakota’s economy is dependent on the vitality and strength of its small businesses. Small firms, able to respond quickly to market changes, create jobs and lead the way in the development of new technologies. Entrepreneurs are visionaries - men and women who look toward the future to make their dreams a reality. Our job at the Small Business Development Center network is to help them see the possibilities and to offer them the tools and information they need to get the job done. By providing counseling, training and research assistance to small businesses and by facilitating export and technology development and transfer, we strengthen business and economic development in both rural and urban North Dakota.
Helping New Business
There are many aspiring entrepreneurs with exciting new business ideas that need a little help getting started in North Dakota. At the Small Business Development Center, we work with North Dakota’s up-and-coming business owners to identify the skills they need to get their feet under them and get them started on the road to success. We can help in every step along the way - from refining a business idea, to locating market data, to preparing a financing proposal, to planning the grand opening celebration.
Strengthening Existing Businesses
North Dakota’s best hope for the future is to support and sustain our existing businesses while new ones grow. The Small Business Development Center provides counseling and technical assistance to small business owners to help them improve their business skills so that they may ride out these rough economic times. Unlike other programs, we work with businesses of all types - retail, service, construction, and wholesale as will as manufacturing and agricultural processing.
Stabilizing Businesses in Difficulty
Businesses are having a tough time in today’s economy. Sometimes it seems that the challenges are more than a business owner can face alone. Small Business Development Center counselors can help keep the business going. Or, if the circumstances warrant, we try to help them through the transition of closing the business. The U.S. Small Business Administration has targeted the Small Business Development Center as a source of assistance for SBA loan clients in distress.
Core Services
Needs Assessment
The Small Business Development Center’s needs assessment process helps to target the kind of help a business owner needs. Counselors analyze a business’s operations and identify the company’s strengths, weaknesses and opportunities. That information helps ensure business owners get the expert assistance they need. As a participant in the University Business Assistance Network and a part of the Growing North Dakota initiative, the Small Business Development Center is uniquely positioned to know the expert resources that are available in the state that can help small business owners meet the challenges ahead of them.
Training
Businesses never outgrow the need for continuing education. Owners, managers and employees need to sharpen their skills to keep small business competitive. The Small Business Development Center sponsors low-cost workshops, seminars, and conferences aimed at providing continuing education in the latest business techniques. We bring in national speakers as will as tapping the talent of our excellent North Dakota instructors.
Counseling
The Small Business Development Center provides free individual counseling to small business owners. Our job is one of guidance and education. We help business owners identify the organizational, financial, marketing and technical challenges they face and help them find solution to overcome them. Some of the areas where our counselors provide guidance to small business include:
· Advertising
· Business plan development
· Loan applications
· Personal management
· Financial management
· Cash flow management
· Exporting
· Market research
· Business computers
· Record keeping systems
Computerized Database Research
Businesses need up-to-the-minute information to grow today. As part of the talked-about information Superhighway, the ND Small Business Development Center has the ability to link business owners to hundreds of databases providing current market, technical and business information. The instant access can help give businesses a head start on new technology, product development, manufacturing processes, market strategies, and business planning.
Business Resource Library
Each regional center has a library of professionally developed materials to help entrepreneurs develop their business skills and keep up-to-date on the latest issues. The libraries include specialized books, periodical, pamphlets, self-study guides and videotapes. Recent additions to our library material include:
· Prairie Public Television’s "Let’s Talk Business" videotapes
· Financing Options For Your Small Business
· The franchise Bible: A Comprehensive Guide
· Telemarketing Basics - A Practical Guide For Professional Results
· How To Start A Business In North Dakota
The Small Business Development Center is a partnership between the University System, the U.S. Small Business Administration, and the state of North Dakota and builds on the diversity and experience of each resource to meet the specialized needs of aspiring and established entrepreneurs. We focus on providing management and technical assistance to existing and aspiring entrepreneurs thereby stabilizing the economy, developing new jobs in the private sector and fostering the growth of the free enterprise in North Dakota.
Small Business Development Center
"Proudly Serving Southwestern North Dakota"
SW Regional Small Business Development Center
Dickinson State University
291 Campus Dr
Dickinson, ND 58601-4896
Phone: (701)483-2470
