The Troy University Small Business Development Center (SBDC) recently facilitated a strategic discussion between the Grow Southeast Alabama regional economic development coalition and the U.S. Small Business Administration (SBA), bringing together economic development professionals to explore new ways to support and strengthen existing industries across southeast Alabama.
The meeting focused on helping local economic developers deepen relationships with businesses already operating in the region by leveraging SBA programs and resources. Participants discussed how financing tools, business counseling, succession planning, government contracting assistance and other SBA initiatives can complement local economic development strategies and help companies continue to grow.
Grow Southeast Alabama is a regional coalition of economic development organizations that works collaboratively to advance economic growth, strengthen communities and support business investment throughout southeast Alabama. By connecting the coalition directly with SBA leadership, the Troy University SBDC helped create an opportunity for regional partners to learn about federal resources that can enhance local business retention and expansion efforts.
“The Troy University SBDC serves as a bridge between local communities and the state and federal resources available to support economic development,” said Juliana Bolivar, Director of the Troy University Small Business Development Center. “Our role is not only to assist individual businesses but also to strengthen the ecosystem that supports them. Bringing the SBA together with Grow Southeast Alabama allows economic development professionals to better understand the tools available to help businesses expand, access capital and remain competitive.”
During the meeting, SBA representatives shared information about programs designed to assist entrepreneurs and established businesses at every stage of growth. The discussion also explored how local economic developers can incorporate SBA resources into their existing business retention strategies, ensuring companies are aware of financing, technical assistance and other programs before challenges become barriers to expansion.
Another key objective discussed during the meeting was expanding the participation of local financial institutions in SBA lending programs. Troy University’s SBDC and the SBA outlined a long-term vision of bringing community lenders together to increase awareness and utilization of SBA-guaranteed loan programs, helping ensure entrepreneurs and small businesses across southeast Alabama have greater access to the capital needed to start, grow and expand their businesses.
The collaboration reflects Troy University’s commitment to fostering partnerships that create lasting economic impact throughout Alabama. Through the Troy University SBDC, communities across southeast Alabama have access not only to confidential business advising and training but also to a network of state and federal partners dedicated to helping businesses succeed.
As economic development continues to evolve, the Troy University SBDC remains committed to connecting regional leaders with the resources and relationships needed to strengthen existing industries, encourage new investment and support long-term economic prosperity across southeast Alabama.
