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The phrase “teamwork makes the dream work” rings especially true when describing the partnership between the Nebraska Business Development Center (NBDC) and the Center for Rural Affairs.
Based out of the College of Business Administration at the University of Nebraska at Omaha (UNO), NBDC provides free services for small business owners across the state and is one of the programs through which the university reaches out to the entrepreneurial community.
“Having the power of the university and UNO’s College of Business Administration helps us provide critical information and services to our entrepreneurs and business clients,” said Dan Curran, executive director of NBDC. “People continually have ideas to start and grow businesses. Our consultants work with entrepreneurs to help them realize their visions for business.”
As both NBDC and the Center support small business efforts around the state, the organizations often find themselves collaborating to help entrepreneurs get the resources they need to turn their business ideas into reality.
Luis Franco, a former NBDC employee and current senior loan specialist with the Center, is especially equipped to explain how these two organizations came to work together.
“The partnership between the Center and NBDC started many years ago,” said Luis. “I heard about NBDC directors working with Center loan specialists to get business plans and financials in place. Once I was hired by the Center, our idea was to strengthen our collaboration and referral process to better serve clients across Nebraska.”
The Center’s required documents for startups looking for business loans include business plans and financial projections, and NBDC offers one-on-one assistance to those clients and works on the initial steps prior to getting loans. This collaboration has been especially helpful for clients who needed business plans, but weren’t sure where to start.
“This partnership has helped clients to be ready to have a conversation with our lenders about the business structure and financials while getting an understanding of how much the total project cost will be and what the operational plan is,” said Luis. “The Center benefits from this collaboration by getting clients that have already gone through the initial process of determining what their business needs are and have a clear path for the future.”
Because of their cooperative efforts and support of small businesses across the state, NBDC has been chosen to receive the Center’s 2024 Entrepreneur Partner Award.
The Entrepreneur Partner Award is presented to an individual or organization that best exemplifies the entrepreneurial spirit that is so crucial to the future prosperity of Nebraska’s rural communities. This person or organization has demonstrated outstanding support for the Center and exceptional dedication to small business development through one-on-one counseling, business training, lending, and networking across rural Nebraska.
“It is truly gratifying to receive recognition for our team,” Dan said. “They work hard to help Nebraska’s business owners and entrepreneurs start and grow successful companies. The Center is a valued and respected partner doing amazing work to grow rural economies. It’s truly an honor to have such a knowledgeable organization recognize the NBDC and the University of Nebraska system.”
In addition, Dan said, he feels the Center and NBDC both have strong business development programs and teams. The Small Business Development Centers (SBDCs), a program of the NBDC, work with their lenders to prepare clients with business plans and financial projections to help them get access to capital.
They also provide referrals for their clients to apply for loans from the Center, along with referring clients to training programs hosted by the Center. SBDCs across the state have local connections to Center lenders in their area as well.
“The relationship between the NBDC and the Center is the perfect example of how resource partners can collaborate with each other and align their missions to help small businesses in Nebraska succeed,” Luis said.
Looking ahead, Dan sees both organizations continuing to collaborate and assist even more entrepreneurs and business owners throughout Nebraska.
“We have a successful partnership and our mutual clients benefit greatly from it,” he said. “Both organizations evolve as rural business development needs evolve. This is critical to future success. The NBDC will continue to build our connections with the Center and refer clients to their services and support referrals from the Center in return.”
NBDC staff was presented with the Entrepreneur Partner Award on April 30.
