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 August 1, 1999

SBDCs assured second round of funding

BOULDER Small Business Development Centers (SBDCs) in Colorado can rest assured that the Small Business Administration (SBA) will fund them through the rest of the year.

“Everybody will get it,” says Marsha Summerlin, project manager for SBDCs.

The SBA funds the development centers in two installments by a letter of credit, but earlier this year, SBA officials said they would hold the second phase of funding in Colorado because the director of the state SBDC program, Mary Madison, was a political appointee, which was against national requirements.

SBA officials, however, reconsidered that rule. Colorado SBDCs should get funding by the end of July.

“I’m relieved to see that it’s going through,” says Marilyn Force, director of the Boulder SBDC, who adds that she will still ask community members and businesses to sponsor programs in entrepreneurial training and business planning.

Colorado gets more than $1 million a year from the SBA to fund about 20 development centers around the state.

The Boulder SBDC gets about $30,000 for the year from the SBA.

— Claudia Hibbert-BeDan

BOULDER Small Business Development Centers (SBDCs) in Colorado can rest assured that the Small Business Administration (SBA) will fund them through the rest of the year.

“Everybody will get it,” says Marsha Summerlin, project manager for SBDCs.

The SBA funds the development centers in two installments by a letter of credit, but earlier this year, SBA officials said they would hold the second phase of funding in Colorado because the director of the state SBDC program, Mary Madison, was a political appointee, which was against national requirements.

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