In 2002, SMIF received a grant from the Small Business Administration (SBA) to start providing businesses that have received an SBA loan from SMIF with technical assistance. SMIF provides 5,000 hours of technical assistance to businesses each year, including business planning, marketing and financial advice. This grant also allowed these businesses to engage in trainings for entrepreneurs. In 2009 SMIF brought the South Central Minnesota SCORE chapter to communities in the central and western part of our region, expanding the technical assistance resources available to small business.
In the Early Childhood department, SMIF also provides technical assistance to child care business owners and operators of child care centers in the region. These complimentary support services include enrollment marketing strategies, risk management, crisis support and financial business modeling. Consulting support is offered for new and existing child care businesses, and those who are just starting out with an idea.
