The U.S. Department of Commerce's National Institute of Standards and Technology is conducting a pilot program to improve access to capital for small and midsized manufacturers at four of its Manufacturing Extension Partnership centers:
- New York City firms can turn to The New York Industrial Technology Assistance Corp., which has contracted with an investment banking firm to help companies identify financing goals, create a package to submit to funding sources, and shop the package around. They are also working to create a $15 million loan pool for companies seeking $100,000 to $500,000. Firms considering a merger or acquisition can also get advice. For more information, call (212) 240-6920.
- Colorado, Kansas, Missouri and Wyoming companies benefit from Capital for Manufacturers. An affiliate of the Mid-America Manufacturing Technology Center in Overland Park, Kansas, this group assists companies in finding and securing angel, venture, seed and mezzanine financing, as well as forging joint ventures. For more information, call (913) 649-4333.
- Michigan manufacturers get assistance from Pathway Partners Ltd., which is affiliated with the Michigan Manufacturing Technology Center/Industrial Technology Institute. Pathway helps facilitate management buyouts, mergers and acquisitions, and aids in helping entrepreneurs obtain growth capital. Pathway personnel will also serve on advisory boards to help companies work through management problems. For details, call (313) 769-4491.
- Illinois firms in the six-county area surrounding Chicago can look to the Chicago Manufacturing Center's Manufacturing Investment Network (MIN) to assist with mergers and acquisitions. MIN helps buyers and sellers assess their businesses' value, prepare for investor presentations and negotiate deals. The network can also help develop a list of buyers or sellers, and MIN representatives will handle the due diligence financial institutions require. Call (773) 265-2020.