ERDP’s Business to Business Brown Bag SeminarsHosted by Eureka Rural Development

Partners

Who is ERDP?

ERDP was formed in 2002 as an effort for our local community to engage in community and economic development directly.

We are mainly funded by Lincoln Electric and InterBel Telephone Cooperatives. With additional funding through administration and technical assistance contracts

We annually develop a yearly focus plan that identifies projects of priority and focuses on key elements including:

Infrastructure, Business Recruitment and Entrepreneurship, Business Expansion and Retention, Community Involvement, Regional and State Involvement, Organizational Funding and Administration.

ERDP Primary

Business ServicesBusiness Planning and Financial Forecasting

Access to Alternative Financing including local, regional and State revolving loan funds and gap financing.

Access to Business Assistance programs such as Small Business Development Center, Procurement Technical Assistance Center, Montana Manufacturing Center, and more.

Connecting to a large network of professionals across Montana

Follow market trends and forecasts

Actively engaged in regional and state projects/organizations to promote and sustain businesses in the Tobacco Valley.

Serves as the Business Resource Center to the Community which includes a resource library and computers set with templates and resources.

Business Planning and

Financial Projections

On staff Business Financial Professional

Connect to SBDC, mentors, and others to help complete business plans

Business planning templates, resources, and networks

Assistance to develop financial projections

ERDP highly recommends ALL Businesses regardless of size, stage of business, and financial capacity to have a

Business Plan.

All programs we have access to requires a business plan.

Alternative Financing Programs

through ERDPLocal RLF (Revolving Loan Fund) through Lincoln Electric is accessed through ERDP offices

Regional programs including micro loans (under $50,000) are done through a partnership with Montana West Economic Development, Kootenai River Development, and Lake County Community Development

State programs include Montana Community Financing and Montana Community Development Corp, have a number of alternative financing programs including the SBA 504 and New Market Tax Credits

ERDP has a working relationship with the State SBA office and can connect businesses through their bank and/or directly to the variety of loan funds .

Grants and Businesses

Overall, most business DO NOT qualify for grant programs.

Research and Commercialization programs and Dept. of Agriculture are two exceptions

USDA –RD has a number of loan and grant programs including Agricultural and Energy based grant programs. As well as loan guarantees.

Loan interest loan programs such as USDA Rural Economic Development Loan & Grant (REDL&G) and Montana Community Development Block Grants (CDBG) are grants to a government agency then passed to a business or community entity in loan form.

Access to AssistanceERDP can connect businesses to:

Advisors

Funders/loan programs

Investors

Our partners and assistance programs are extensive and includes:

Small Business Development Center

Montana Manufacturing Extension Center

Montana Cooperative Development Center

Procurement Technical Assistance Center

Montana Angel Fund

ERDP’s Network

The ERDP Board has focused on making sure the staff is well connected across the region and State

Our network includes Business Professionals across a wide gamete of industries from engineers, marketers, advisors, investors, and more

Can connect businesses with technial advisors and more.

Active engagement in State and Regional activities allows ERDP to remain up to date on programs, provide current assistance to businesses, and engage in bettering the overall business climate for our community, region and State.

Market and Trends

ERDP is not a marketing company however, we do follow business trends and provides information to the overall business community.

Can connect a specific business to potential marketing planning assistance and research through FVCC and other research based activities

Business Expansion and Retention (BEAR) program gives us insight to a business and can help us determine “red flags” and potential resources

ERDP and the Region

Our activities are broad when it comes to participating in the region and State. Key components of our activities involve the following entities:

• Glacier Country Board of Directors

• Montana Cooperative Development Center

• Montana Economic Developers Association

• Montana Ambassadors

• Regional and State planning meetings under the Governors Office of Economic Development and Montana Dept. of Commerce

Your Local Business Resource

CenterERDP manages the Tobacco Valley Industrial District Business Incubator. Through that relationship ERDP is the lead Business Resource Center which includes the following services:

• Business Library

• Fax and Printing (costs may be charged)

• Laptops with templates and resources

• Workshops, classes, business connections

• Incubator program at the Wood Development Center (opportunity should open by 2016)

Business to Business Connections

Your time to Share- Concerns, Needs, Resources, Etc.