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4 <br />financing. Clients were able to obtain financing to assist with the working capital and <br />renovations. <br />Restaurant - Carrboro <br />A well-known restaurant which has been a client of the SBTDC for many years was <br />encouraged to submit and supported in an application to be recognized by the SBA at <br />various levels as an outstanding business. SBTDC project work included business <br />valuation, succession planning, operations analysis, strategic plan development /training <br />for staff, and MBA team work. Outcome -client won Small Business Person of the Year <br />in North Carolina, and 3rd Runner Up Small Business Person of the U. S. for 2002. <br />Hair Salon -Chapel Hill <br />"C.H." was a partner in an existing hair salon in Carrboro and wished to open her own <br />store. She approached the SBTDC for help with dissolving the old business, writing a <br />business plan, cash flow projections, and sources of financing. Client was able to open <br />her business in the fall of 2002. <br />Aesthetician /Spa Facility - Carrboro <br />Client seeking expansion of her business was assisted by the SBTDC with business plan <br />development, creation of an operations and marketing plan, presentations to potential <br />investors, and application to Carrboro micro-loan program. Outcomes include - <br />successful business relocation which has tripled the company's work space, projections <br />of 55% increase in revenues, and having accomplished this without taking on any <br />additional debt. <br />Various Businesses Throughout Orange County <br />Six local companies were assisted by the SBTDC by means of coordination of 3rd year <br />law students conducting "small business legal audits" and providing other legal <br />consultations. A variety of issues were identified, potential liabilities were addressed / <br />avoided, and companies were able to receive this support without incurring any costs. <br />Eight companies also received in-depth business counseling /services provided by MBA <br />teams from UNC-CH's Kenan-Flagler Business School, and from Elon University's Love <br />School of Business. Projects ranged from writing complete business plans to market <br />research to strategic plan formulations, sourcing of funds, and strategic operations <br />analysis. <br />