Lincoln City provides scholarships to businesses taking SBDC classes

For the sixth consecutive year, Lincoln City – via its Urban Renewal Agency, and thanks to a unanimous vote of support by the city council in July – has made scholarships available through economic development funds for business classes and programs offered at Oregon Coast Community College’s Small Business Development Center.

“The funds allocated to these scholarships are from the same sources that the city uses to make available low-interest loans for façade improvement or business expansion,” said SBDC Director Dave Price. “We’re grateful and humbled to know that the city, year after year, continues to appreciate the value of the services we offer to our participating businesses, and steps up to encourage more businesses to register, thanks to this financial support. Just as a business may become more profitable thanks to added traffic attracted by a shiny new sign or façade, we see over and over again how our clients can achieve greater returns by implementing the strategies learned in our classes and workshops.”

The scholarships are available only to businesses located within the city’s Urban Renewal District and, while they last,  provide 100% of the tuition for any SBDC classes, workshops, or programs – including the Small Business Management Program, a year-long program the College has presented for more than 25 years. The SBM begins in late September and runs through June, and features monthly classes and monthly one-on-one business advising sessions.

While the Lincoln City funding is specific to business located within the city’s Urban Renewal District, support received from other contributors helps reduce the cost of SBDC programs to businesses countywide.

“Thanks to ongoing generous support from the Lincoln County Board of Commissioners, the City of Newport and the City of Waldport, we’re also able to continue offering other scholarship support to businesses located elsewhere in Lincoln County,” Price said. The County, for example, has provided funding to the SBDC totaling $30,000 per year – using funds generated by video poker machines in the county. State law directs governments to invest a portion of those proceeds to economic development. “We’re thankful to the county commissioners that they have chosen to invest a portion of those economic development funds in the SBDC, helping ensure a broad array of classes, workshops and services to businesses and would-be entrepreneurs across the county,” Price said.

The Oregon Coast Community College SBDC has announced its fall term course lineup. Registration is open now for all of those classes and events, and can be found here.  For more information, call the SBDC at 541-994-4166.