There are an array of economic development resources and tools available for small business, many at low or no cost. This includes help in writing a business plan to financing, training and workforce assistance, the City of Novi can connect entrepreneurs with the services they need in order to take their business to the next level.

Business Assistance Team (B.A.T)

Through the City of Novi has a team available to aid small business owners in a variety of areas. Volunteer team members consist of representation from:

• City of Novi
• Novi Chamber of Commerce
• Oakland County Business Center
• Small Business Technical Development Center (SBTDC)
• Financial institutions

The mission of Business Assistance Teams (B.A.T.) is to identify small and medium size businesses within the Novi community that would benefit from the business and planning experience the team is able to offer. The goal is to provide knowledge, guidance and useful tools for these businesses to utilize in order to maintain and grow their business in an effective and efficient way. There are NO sales involved with this assistance.

The specific types of assistance the team can offer include:

• Sounding board for potential ideas
• Reviewing existing business plans
• Marketing, advertising, public relation advice
• Networking within the community
• SBA financing/loan options

The team also serves as an informational and networking resource, sounding board and generally assists the business to be as competitive and successful as possible.

B.A.T. serves as an informational and networking resource, sounding board and generally assists the business to be as competitive and successful as possible. This program is complimentary and all information and discussions are strictly confidential. For more information, please contact Victor Cardenas, Assistant City Manager at (248) 347-0583 or via email.

Financing

Whether you’re just starting a small business or expanding to take advantage of new opportunities, your business may be able to take advantage of financing options available for county and national government.

• SBA 504 Loan Program: provides viable small and medium size businesses with long-term fixed rate financing for the acquisition or construction of fixed assets.
• SBA 7(a) Loan Program: a repayment to banks making loans under this program. This allows the lender to recover a portion of what it lent from the SBA if the borrower can't make the payments. The borrower is still obligated for the full amount. The reduced risk permits lenders to give small business owners access to the same kinds of reasonably priced, long-term financing available to large businesses.

The Novi Economic Development team is happy to assist you in directing you to resources that may be able to assist you in your financing options or you may contact the Small Business Administration Michigan Office by clicking here.

Business Resource Center

Novi Public Library is a MI-SBTDC Business Resource Center. They provide information about how to start and grow your business, a place to meet, computers & printers, business books, access to business databases and information about the various state and federal programs that offer assistance to business people.