Agenda - Economic Development Authority - 04/02/2015

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Economic Development Authority (EDA) Meeting Date: 04/02/2015 Submitted For: Patrick Brama, Administrative Services By: Patrick Brama, Administrative Services 4. 1. Title: Introduce New Anoka County Open to Business Program Purpose/Background: New Ramsey (Anoka County Sponsored) "Open to Business Program" Anoka County has sponsored all Anoka Cities to join a new "Open to Business Program." This program targets small/ start-up businesses and fills the gap of expertise/ professional consulting/ and opportunities for micro loans that are not typically provided by banks and municipalities (for small/ start-up businesses). Below is a summary, the program coordinator will attend the April EDA meeting to provide an overview and answer questions. Assuming EDA support, staff plans on advertising this program through: City website, Facebook and the Ramsey Resident. This program/ service is free to the City of Ramsey in 2015. Anoka County hopes that Anoka Cities will consider joining/subscribing to this program in 2016. Ramsey Launches "Open To Business" Program Need a trusted advisor? A free business consultant? Or money to start or expand your business? Ramsey's "Open To Business" program might be just what you are looking for! This program provides one-on-one business counseling to current and prospective entrepreneurs, helping them get the technical assistance that they need to succeed. Consultants offer support in the areas offinancial management, bookkeeping set-up and training, loan packaging, business plan development, real estate analysis, marketing, strategic planning, business regulations, and more. Through the Open to Business Loan Program, direct loans ranging up to $25, 000 are available for startup businesses and larger loan packages are available for established businesses. Our consultants can help entrepreneurs determine all of their capital needs and help them to apply for financing that will meet those needs. The Open to Business program can also offer professional referrals and link businesses to additional resources such as training programs, community or government services, and other industry or business professionals. For more information or to get started call 763-438-7315, email info(a%opentobusinessmn.org, or visit www.opentobusinessmn.org. Notification: NA Observations/Alternatives: NA Funding Source: Free in 2015 (paid for by Anoka County). Recommendation: General feedback. Action: