The Florida SBDC at FIU Business (FSBDC), the small business development center at FIU’s College of Business, opened its doors in January 2014. Since that time, it has helped countless small businesses in Miami-Dade and Monroe Counties access capital to start and grow their businesses. Recently the center celebrated a major milestone – securing $568.9 million in capital for its clients. According to the center’s team, that accomplishment came about by partnering with local lenders.
According to Brian Van Hook, Regional Director of FSBDC, “We focus on being that trusted advisor for the client to help them navigate different finance options. The center partners with lending groups to connect borrowers to the right lender based on loan use, stage and size of the business, and their financial situation.”
In particular, FSBDC’s business specialists help small businesses by: guiding them to become bankable; reviewing and strengthening loan applications; assisting with financial projections and analyzing key financial documents; and connecting qualified clients with the right lenders for their needs.
Lenders include Community Development Financial Institutions (CDFIs), municipalities with business attraction/retention grants; microlenders; U.S. Small Business Administration (SBA) lenders; commercial lenders and venture capital firms.
“I have worked with and referred clients to the FSBDC at FIU for over a decade, and I am continually amazed that South Florida businesses have access to such an incredible resource,” said Javier Jorge, Executive Vice President/Director of Government Guaranteed Lending at Locality Bank. “Over 50 companies I have personally referred to the center have tapped their expertise, creating measurable economic impact across our community.”
“For Ascendus, it has been an honor to work closely with FSBDC at FIU securing capital for small businesses that ranges from microloans to major financing to disaster-related loans,” added Fabiana Estrada, Regional Vice President of Lending & Business Development, Ascendus. “The close collaboration on access to capital ensures entrepreneurs have the key resources and resilience needed to grow and thrive in our community.”
Lending Partnerships
As part of their outreach to lenders, FSBDC partnered with the SBA South Florida District Office to host a lender roundtable at the FIU Downtown at Brickell campus on July 25th. The roundtable featured Thomas Kimsey, Associate Administrator for the SBA Office of Capital Access and SBA Regional Administrator Tyler Teresa.
Participating in the roundtable were 27 local lenders who received key updates from the SBA and provided SBA leaders with feedback on SBA lending programs.
The timing was perfect for FSBDC as the center had just initiated a comprehensive lender outreach campaign to connect with additional lenders and financial institutions in Miami-Dade and the Florida Keys. FSBDC will be conducting additional lender outreach to identify potential partnerships and resources to benefit FSBDC clients.
To learn more about the center, consultants and upcoming trainings, visit this link.
Pictured at the top of this post: Florida SBDC at FIU Access to Capital Specialist Lilian Urbandt with Joshua Abril, Owner, Fookem’s Fabulous, LLC. Pictured below: Lender’s Roundtable with SBA leadership, FSBDC at FIU, and local lending institutions
