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Small Business Development Center

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FAQ

 

Do you absolutely have to have a completed business plan to apply to the incubator?

If you are a start-up business we accept a full business plan or an abbreviated business plan in our “pitch” format. Please contact the Incubator Manager for the pitch business plan outline.

If you are an existing business you may not need a business plan depending on your sales. Please contact the Incubator Manager to see if a business plan is required.

 

What if you are unable to complete the two years that the program requires?

We believe that two years is the optimum amount of time for us to nurture your business, particularly in the start-up phase. However, there are some businesses that grow very fast and transition earlier. We love to see that! There are entrepreneurs that realize early on that they may need to go “back to the drawing table.” We understand that also.

 

Does the incubator program assist me in making the transition from the program to my own office?

We will use all of our resources and contacts to help you make a successful transition into the community of your choice.

 

Does the incubator provide financing to tenants?

We do not provide direct financing but incubator tenants work closely with their assigned consultant in developing their business plan and projections to be submitted to a financial lender or investor. The Temple SBDC has a strong referral network of banks, micro-lenders, and alternative sources of financing.

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July 21st, 2014

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