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| Alan Stanford |
SEATTLE – Alan Stanford was named the 2012 Washington State Small Business Development Center (SBDC) Star Performer at the recent U.S. Small Business Administration (SBA) gala at the Museum of Flight at Boeing Field in Seattle.
The SBDC is a cooperative effort of Washington State University, other educational institutions, economic development organizations and the SBA.
Stanford joined the SBDC’s Spokane office in 2010 after a 37-year career in finance and banking. He will be recognized in September at the national conference for the Association of Small Business Development Centers in Orlando, Fla., as Washington’s Star Performer.
Helped create, save jobs
SBDC Washington State Director Brett Rogers said Stanford’s business acumen and banking experience have been a huge benefit for the entire SBDC network.
“His years in banking really prepared him to step into an advising role with us,” Rogers said. “He’s just a delight to have in the network.”
During 2012, Stanford logged 1,034 hours meeting one-to-one with 135 clients and an additional 143 hours as a co-advisor working with SBDC colleagues and their clients across the state.
According to his clients, Stanford helped them create 20 new jobs, save 75 jobs that would have ended and start four new businesses. His clients accessed $1.7 million in capital in 2012 to help them start or grow their small businesses.
“Alan has been the heart and soul of what you want an advisor to be,” Rogers said.
Loan process guidance
Bob Adolfson, owner of Glover Mansion Events, had been looking for financing for a long time when a lender suggested he meet with Stanford, adding that “people who go to Alan come back to us with a succinct, strong package.”
Adolfson met with Stanford and became a believer.
“It was absolutely invaluable,” he said. “Alan showed me the mistakes I was making when I approached financial institutions and guided me through the process.”
With Stanford’s help, Adolfson was able to get a $200,000 combination term loan and line of credit, which was critical to an ongoing expansion that could add two full-time employees and 10 part-time employees, he said.
Making complex info useful
Stanford’s areas of expertise include business planning; financial advising, including loan packaging, forecasting, budget planning and credit review; mergers and acquisitions; business coaching; marketing; and employee development.
“Alan has the ability to translate financial information – no matter how complex – and make it useable,” said Terry Cornelison, an SBDC advisor in Pullman.
Even as a banker, Stanford said, he tried to focus on borrower education and helping small business owners pull together a strong loan application. Now he can prepare clients for what their loan officer is going to ask for, and why, but as an SBDC advisor he has the time and resources make sure clients have the tools to be successful with or without a loan.
Within the SBDC network, Stanford said, there is broad and deep business experience not just in banking and finance, but in marketing, social media, lease negotiation, cash flow analysis, manufacturing, import and export issues and more.
Business doubles in a year
Jim and Amy Connolly, owners of Planet Turf in Spokane, credit Stanford with helping them prepare a successful application for a $50,000 line of credit with no equity, which allowed them to grow their business 100 percent last year.
“He was extremely interested in us and our business and helped us be proactive,” said Amy Connolly.
Stanford, a graduate of the WSU College of Business, spent much of his career in the Seattle/Bellevue area where he worked for U.S. Bank and other community banks for about 25 years. For about a dozen of those years he was a loan officer working with borrowers.
He is an advisory board member for a number of organizations, including the East Spokane Business Association, SNAP Advance Capital Access and Launch Spokane. He is a member of the Priest Lake, Idaho Lion’s Club and a frequent presenter or panelist for Avista’s Center for Entrepreneurship at Spokane Community College.
About the SBDC
With 24 small business development centers located across the state, the SBDC provides one-to-one confidential business advising, demand-driven training and market research to both new and established small business owners at no cost to the client. In 2012, business advisors with the Washington SBDC network were responsible for more than $35 million in capital formation and assisted 3,074 small business owners.
For more information about the WSBDC, go to http://www.wsbdc.org