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CONNECTICUT SMALL BUSINESS DEVELOPMENT CENTER Annual Report | October 1, 2016 - September 30, 2017

Borinquen Bakery


HELPING CONNECTICUT BUSINESSES START, GROW, AND  THRIVE.

The Connecticut Small Business Development Center (CTSBDC) offers expert assistance at no cost to entrepreneurs and small business owners. CTSBDC's professional business advisors help small business owners investigate capital opportunities, prepare loan documents, export products, determine growth strategies, develop marketing plans, prepare for business disruption, and more. In addition to confidential, no-cost business advising, CTSBDC provides training, resource referrals, and access to comprehensive market research, financial benchmarking, and business strategy tools. 

Great American Aquaculture


To the CT entrepreneurial community and our valued stakeholders, Small businesses have always been the driver of a strong Connecticut economy. The Connecticut Small Business Development Center (CTSBDC) is here to help small business owners across our state access capital, grow globally, gain fiscal strength, explore new markets, and much more. Our team of professional business advisors have a proven track record in helping our clients with both starting new businesses and expanding existing businesses.  Our top priority is helping clients secure the capital they need to make it happen.  These capital investments lead to job creation and retention. Hosted by the UConn School of Business, we take pride in the fact that we are an accredited program and part of a national network funded by the U.S. Small Business Administration and the Connecticut Department of Economic and Community Development. Additionally, we collaborate and partner with many other resource partners to best serve small business owners. We look forward to continuing to assist entrepreneurs from all different industries, sizes, and stages of development in every community in Connecticut.  ReGift the Wrap Emily Carter State Director Connecticut SBDC

CTSBDC.COM


FY 17 IMPACT REPORT The CTSBDC measures its impact based on factors including capital formation, job creation and retention, and new business starts. Economic impact data is verified and validated through a multi-step process including both the client and lead office.

$54,770,718

362

499

63

$21,376,827

Capital Secured (Loans & Equity)

Jobs Created

Jobs Retained

Business Starts

New Sales

1,284

Total Clients Counseled

9,040 Total Counseling  Hours Wright Transportation

Capital Secured Analysis The financial analysis you [CTSBDC] provided is comprehensive, detailed and accurate.  This adds a lot of credibility to the project. Your work has direct correlation to the chances of getting this business and others funded. Buck Harris, Vice President, Community Lending, Community Investment Corporation (CIC), on a CTSBDC client project funded by CIC

165

Other loans: 59%

Loan & Equity Deals

$306,441 Average Loan Size

DECD Loans: 20%

Loan Breakdown Line  Micro-loans


$41

$44

of capital secured for every $1 of federal funding

of capital secured for every $1 of state funding

$1,555 State investment for each job created or retained

453

Wymsical

44%

8%

womanowned

veteranowned

35%

Long-term clients received over 5 hours of business advising

minorityowned

19%

African American Hispanic or Latino Other Minority*

10%  6%

*Alaskan Native, Asian, Hawaiian Native, Native American, Pacific Islander

Clients by Sector Service: 32% Food/Hotel/Arts & Ent.: 14% Manufacturing: 14% Retail: 12% SBA Loans: 12%

Technology/R&D: 8% Construction: 7% Health Care Services: 6%

of Credit: 8% : 1%

Supply Chain: 4% Agriculture: 2% Real Estate/Property Dev.: 1%

Counter Weight Brewing Company

CTSBDC.COM


SUPPORTING CONNECTICUT. ONE BUSINESS AT A TIME. 1

2

Wymsical Stamford Cybersecurity, cloud-based platform to issue, store, and share vital documents Closed $300k in pre-seed funding

4

5

6

2 3

Great American Aquaculture Waterbury Inland, saltwater aquaculture farm Raised $10M+ in venture capital and obtained state tax incentives

1

3

Counter Weight Brewing Company Hamden Family owned & operated brewery Secured SBA 7a loan to purchase equipment and for build out

4

Borinquen Bakery New Britain Bakery specializing in Puerto Rican baked goods Obtained DECD loan & grant, SBA loan, and a bank line of credit for expansion

5

ReGift the Wrap Glastonbury Reusable, fabric gift wrap Brought new product to market, obtained trademark, and patents pending

6

Wright Transportation Franklin Veteran-owned non-emergency medical transport Secured DECD loan to purchase vehicles

CTSBDC Lead Office 222 Pitkin Street East Hartford, CT 06108 ctsbdc@uconn.edu 860-486-4270

WWW.CTSBDC.COM Facebook: /GrowCT Twitter: @GrowCT Instagram: @CTsbdc Linkedin: /company/CTSBDC

The Connecticut Small Business Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration, the Connecticut Department of Economic and Community Development, and the University of Connecticut.

CTSBDC Annual Report FY17  

October 1, 2016 - September 30, 2017

CTSBDC Annual Report FY17  

October 1, 2016 - September 30, 2017

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