This blog article is part of NH SBDC's "reprint" series drawn from the Finance Guide, published in the October 2016 issue of Business NH Magazine.
The U.S. Small Business Administration (SBA) provides several pieces of the funding puzzle, placed somewhere between conventional commercial financing and alternative lenders. While the SBA is not a direct lender (other than the disaster loan program), we support a variety of lending partners who work in this space.
SBA Loan Programs
The Jumpstart Our Business Startups (JOBS) Act was signed into law on April 5, 2012. One of the most novel aspects of the JOBS Act was that it would allow unaccredited individual investors to make investments in companies through the private marketplace, much as accredited investors have been permitted to do for many decades. This part of the Act is referred to as Title III, also known as Regulation Crowdfunding or Reg CF. In common practice it may be referred to as Equity Crowdfunding, because Title III lays out the rules, requirements and controls for equity crowdfunding.
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Some potential small business owners come to NH SBDC with one business idea and it can be a pretty fuzzy one at that. One of the roles of the NH SBDC business advisor is to help them get clearer on what they want to do, and then guide them toward the resources that will help them do it.
With Marty Parichand, however, the advisor’s challenge was a little different. This client had an abundance of ideas combined with an abundance of energy, and the background and skills to back up his ambitious plans.
Dan Brown is the NH SBDC’s program assistant for the Nashua and Manchester offices. He performs initial phone interviews with new clients, tracks data, and manages the monthly general industry safety roundtables. He brings experience from working at a small manufacturing firm and being a part of Best Buy’s sales team. Dan also worked with both the core service team and high net worth clients at Fidelity Investments in Merrimack. Dan currently is pursuing an MBA from Southern New Hampshire University and holds a degree in Political Science from Salve Regina University.
Opportunities for small businesses to engage with students at institutions of higher education in NH.
It’s lonely at the top. Small business owners often lament the narrowness of their management benches. They cast an envious eye upon their corporate brethren who seemingly luxuriate in the midst of a team of managers. The managers oversee a variety of specialties including sales, human resources, and production to name a few. There may even be attorneys and auditors on retainer.
Amy Rodman assists NH SBDC clients in the Nashua and Concord regions as a business advisor. In 2010 Amy became a part-time NH SBDC advisor working in the Nashua and Manchester region, and then accepted a full time advising position at the Center for Women’s Business Advancement at SNHU. Amy returned to the NH SBDC in 2016 to take on her current full-time business advising position.
When Lynne Gruskowski and Andy Calnan of Massachusetts began looking for a B&B to run in Vermont, their journey eventually led them across a different border, to New Hampshire’s White Mountains, and to Stewart Gates, an NH SBDC business advisor, whom they now call “our main man.”