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SBDC at EKU funds more than $3 million in business loans/equity

RICHMOND, Ky. – The Small Business Development Center at Eastern Kentucky University has financed more than $3 million in small business loans and equity funds this program year.

The center offers a variety of counseling, training, and information programs and services to existing and potential small business owners and supports small businesses by providing consulting services leading to loans and equity investments for its clients. Over the past three years, the SBDC at EKU has secured $5,425,000 in loans and equity investments for small businesses. The center’s 2017 total represents 125 percent of its goal for the program year.

“We are so inspired by our area entrepreneurs daily,” said Jason Rainey, assistant director and management consultant. “The past three years our office has had great momentum, and we are excited to see what the remainder of the year brings for our areas served.”

Dr. Nicholas Leverette, owner of Chiro One Wellness Center of Hamburg, PLLC, in Lexington, was able to purchase and launch his practice with the support of the Small Business Development Center at EKU. Folk’s Builders, LLC, a home renovation company, also built its business from the ground up with the assistance and services offered by the SBDC at EKU.

“I’m extremely proud of the hard work of our center staff,” said Chris Bowersock, director of the SBDC at EKU. “We are committed to helping individuals realize their dreams of opening or expanding their small business.”

In addition to providing a variety of support services and training opportunities free of charge, the SBDC at EKU strives to raise employment rates and improve the economic impact in local communities within the region by creating business and job expansion strategies. Over the past three years, the SBDC at EKU helped support the development and launch of 37 small businesses and created more than 100 jobs in its 15-county service region, which includes Adair, Casey, Clinton, Estill, Garrard, Jackson, Laurel, Lincoln, Madison, McCreary, Pulaski, Rockcastle, Russell, Wayne and Whitley counties.

“Chris and Jason’s work and relationships are aligned with entrepreneurial success, whether it is starting a business, expanding a current business, or considering a new challenge,” said Dr. Tom Martin, executive director of the Center for Economic Development, Entrepreneurship and Technology at EKU.

“They provide a lot of options of guidance.”

For more information, visit www.sbdc.eku.edu or contact the center at 859-622-1384.

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