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COON RAPIDS DEVELOPMENT COMPANY PARTNERS IN PROGRESS "A Nonprofit SBA Certified Development Company" RECEIV n 2 0 Vol. 3, Issue I Al~$'d ........... April, 1987 CRDC Expands SBA Certification Area Coon Rapids Development Company has received ap- proval from the U.S. Small Business Administration to ex- pand its SBA Certification Area to include all participating communities within Anoka County. CRDC is one o! a handful of local development com- panies in Minnesota certified by the U.S. Small Business Administration to submit SBA 503/504 financing packages directly to SBA for consideration. The SBA 503/504 Loan Program is a fixed asset user financing program which allows small businesses to obtain 90 percent financing of fixed assets. CRDC has an established record for providing a high level of "hands on" assistance for businesses relocating or expanding in Coon Rapids. This expansion of its certifica- tion will enable all businesses in Anoka County to utilize this high level of loan processing service. CRDC intends to retain its focus for its primary "business recruitment" activities in Coon Rapids, Each par- ticipating community will retain this activity locally. CRDC is working with the Anoka County Economic De- velopment Partnership (ACEDP) and the proposed Anoka County Business Assistance Network (ACBAN) to coordi- nate the process of utilizing this loan program throughout Anoka County. CRDC maintains a local office within Anoka County and has staff directly available to provide the sup- port for structuring projects and preparing loan documen- tation. ACBAN will be involved in the marketing of the pro- gram and the project review process. Projects and loan applications for those businesses out- side the Coon Rapids area will be reviewed by a special committee formed through ACBAN which will consist of a broad mix of industry and educational representation as well as members of the CRDC Board. This joint venture of CRDC and ACBAN should foster in- creased growth and County-wide cooperation, and should benefit the County's tax base and promote increased job growth. In addition, the joint venture would result in a well coordinated and strongly promoted program which should dramatically increase the utilization of SBA financing. Women in Business What's out there for yoU? On Wednesday, April 29, the Anoka County Chamber of Commerce Women and You (W.A.Y.) Committee is spon- soring a workshop for women in business. The topics to be covered are the programs available for women through the Small Business Administration and how to get a small business loan. Cynthia Wright of the Small Business Administration and JoAnn Mortenson of Norwest Bank Central, N.A. are the speakers for this informative event. Cynthia has been with the Small Business Administration since 1977. Currently, Cynthia is a Business Development Specialist for SBA working with resources such as SCORE, ACE and Small Business Development Centers making sure proper training for small businesses is available. Cyn- thia is also SBA's Women's Business Ownership Repre- sentative. She is responsible for making sure that women are aware of the programs available through SBA. JoAnn has recently been promoted to Assistant Vice President in Commercial Lending at Norwest Bank Central, N.A. She has been with Norwest for over five years and served as the Commercial Credit Department Manager prior to moving to lending two years ago. JoAnn has a good general knowledge of small business startups and has worked with SBA loan programs. She will be speaking on how to apply for a business loan and what a lender looks for in determining credibility and repaymentability. If you own your own business, if you're thinking of star- ting your own business, or if you work with small business owners, this workshop is for you. Join us for this informative program Wednesday, April 29, from 11:30 a.m. to 1:00 p.m. at The Seasons Restau- rant and Lounge, Highway 242 and Foley Boulevard in Coon Rapids. Cost is $8.00 for Chamber members, $10.00 for non-members and includes lunch. Call the chamber office at 755-1130 for details.