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The Louisiana Small Business Development Center is in the business of making dreams come true.
With 30 years experience, the development center has 10 locations throughout Louisiana designed to assist entrepreneurs in transforming their business from an idea to a full-fledged profitable business.
Fortunately for Tri-parish natives, one of those spots is nestled on 310 Ardoyne Road on Nicholls State University’s campus.
“The Louisiana Small Business Development Center is the state’s largest and most accessible source of assistance for entrepreneurs and the only statewide nationally accredited program that provides business consulting to entrepreneurs at no cost,” the company’s website reads. “(We) provide high-quality one-on-one consulting, training and information resources to help your business grow, and succeed.”
Yes – that mission statement did just say no cost.
Business Continuity Director Tori Rayne said that the LSBDC was created in 1983 with a clear mission to offer free consulting to business owners in need of help.
At the Thibodaux office and at the other nine offices in the state, the LSBDC’s one-on-one business consulting is free of charge – a tidbit that most people believe is too good to be true when they first step foot in the office.
But Rayne said she urges everyone to understand that it’s not fake – it’s a real service free for anyone to enjoy.
Throughout the years, the LSBDC has helped dozens and dozens of local businesses start or grow.
“Many clients have a hard time believing this when they leave our office,” Rayne said. “But yes, we are free. When a client contacts our office, they are assigned to a consultant that will meet with them one-on-one and find out what problems or questions the client has with regard to their business.
“Then, the two formulate an action plan based on what help we can provide to the issues.”
Rayne said that the most common thing she and the Thibodaux LSBDC’s three business consultants and two interns deal with involve financing a business’ needs.
The Business Continuity Director said that the most common thing the LSBDC does each day is work to secure funding for businesses that are trying to gain financial footing.
“Our typical client at the Nicholls LSBDC is looking for money to start or expand their business,” Rayne said. “One of the ways we help these clients is by assisting them in finding the right lender to fund their project.”
Once that process is done, Rayne said the LSBDC works to create financial projections for a business and other things needed to secure funding.
“We are there to help guide our clients throughout the loan packaging process,” Rayne said. “We can also help clients find alternative sources of financing after they have been denied by a traditional bank.”
Do they traditionally have luck and get positive results?
The results somewhat speak for themselves.
Rayne said that in the past 7 months, the LSBDC has secured more than $3 million in funding for their clients’ business ventures.
She said that it is the best feeling in the world to tell a client that they have been approved for money that they need to start or expand their venture.
“Our business consultants walk their clients through the financing steps, and seeing those clients get approved for a loan is by far our greatest satisfaction,” Rayne said.
So with three decades of success going strong, Rayne said the LSBDC has big plans to honor its 30-year anniversary.
She said that the Thibodaux office has a goal to double its goals.
The biggest way that can happen is if more people know that the services are available.
It’s local and it’s free.
Sure sounds like a win-win for a business owner, right?
Rayne thinks so.
“Next year, we want to double our goal,” she said. “We hope to assist our clients in obtaining over $10 million in funding.”
The Louisiana Small Business Development Center prides itself on making dreams come true. The Thibodaux-based business has secured millions of dollars for local businesses looking to get started or expand.
