Technical Assistance
What is technical assistance?
Technical assistance or small business
development is provided by RICMI through both classroom
education and one-on-one consultation. Technical
assistance includes but is not limited to:
- Directing educational training
- Record keeping
- Management Assistance
- Business plan evaluation
- Marketing research/planning/analysis
- Accounting projections review
- Operations analysis
Our approach to technical assistance is to work with the
client in the following areas:
- Needs Assessment/ Pre-loan assistance: Review
proposal, borrower's abilities and provide resources
necessary to make the business work (e.g. bookkeeping
support, marketing expertise, entrepreneurial training).
The Relationship Manager arranges the appropriate support
with and through other third party providers. The
needs assessment may be pre or post loan.
- Post-loan Assistance: This
service is for the MIDC borrower and provides not only
a benefit to the customer but strengthens the MIDC
portfolio. The
Relationship Manger serves as coach, sounding board,
resource provider and reference source. RICMI staff
will establish a regular schedule of on-site visits for
the duration of each loan. These may be weekly
at first, later monthly and then quarterly. The
purpose of each visit is to (a) reinforce the borrower
in the pursuit of the original plan, (b) prudently adjust
the plan as the market dictates, and (c) determine the
extent of need for additional training or third party
assistance.
- Monitoring Outcomes: The
Relationship Manager is responsible for maintaining
contact with the entrepreneur as long as he/she is
in the system. Emphasis will
be on the effectiveness of assistance and business performance. The
Relationship Manager will also ensure that inexperienced
and troubled entrepreneurs get timely assistance. The
manager will keep track of the reasons for loan declination
and drop out experience. This monitoring is mandatory
for both MIDC clients and the SBA MicroLoan program.
Technical assistance is provided
to both MIDC and RICMI clients according to predetermined
action plans or as specific needs arise. We believe
technical assistance is critical to the future viability
of our clients and desired capacity building.
Please contact us at ricmi.info@midcri.com.
We welcome your individual donations in
support of our mission through the Fund for Community Progress,
Donor #8385
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