What is Technical Assistance? How Business Coaching Helps Entrepreneurs Thrive
Starting or growing a business is an exciting journey — but it’s also filled with challenges.
From refining your business plan to managing cash flow, navigating these hurdles can feel overwhelming, especially when access to resources and expertise is limited and expensive. That’s where technical assistance and business coaching can help.
Community Development Financial Institutions (CDFIs) like AltCap are more than just lenders. We are also partners in fostering growth in underserved communities.
Unlike many financial institutions, CDFIs provide fair, responsible lending alongside other support services, including technical assistance and business coaching, to ensure borrowers have the tools they need to succeed.
What is Technical Assistance?
Technical Assistance refers to expert guidance provided to entrepreneurs to help them build capacity, improve operations, and secure new funding opportunities.
Known as “TA” within the world of CDFIs, technical assistance can come in many forms, including business plan development, financial literacy training, credit building programs, marketing strategy, regulatory compliance, and loan readiness programs to name a few.
By offering specialized knowledge and skills, technical assistance strengthens entrepreneurs’ businesses and helps CDFIs better serve their communities. Delivered through training, consulting, and tailored guidance, this support enables CDFIs to meet the unique needs of their borrowers effectively.
When directed toward borrowers, technical assistance focuses on equipping individuals and businesses with the expertise to plan, grow, and sustain their ventures.
How CDFIs Use Technical Assistance and Business Coaching
AltCap and other CDFIs integrate technical assistance into their operations to empower their clients.
For example, they may guide a small business owner through creating a viable financial model, assist a startup in analyzing its target market, or help a borrower navigate complex regulatory requirements. Business coaching complements this by providing ongoing mentorship, helping clients refine strategies, solve challenges, and grow sustainably.
This proactive approach ensures borrowers are not just loan recipients but partners in a collaborative process aimed at long-term success. By building confidence and capacity, technical assistance helps borrowers become loan-ready, manage finances effectively, and scale their businesses.
Transforming Communities Through Empowerment
Successful small businesses create living wage jobs, support the development of schools and healthcare centers, and bolster local economies. Additionally, CDFIs address critical community needs, from financing climate solutions to improving food security.
By providing technical assistance and business coaching, CDFIs aim to unlock the potential in people and communities through inclusive economic growth and opportunity.
Through these services, CDFIs hope to empower borrowers to thrive while transforming under-resourced communities into hubs of resilience, creativity, and innovation.
Support in the Kansas City area
If you're in the Kansas City area and are interested in learning more about technical assistance, please contact Brant Stacy, AltCap's Community Partnership Manager, at bstacy@altcap.org.
Nationwide technical assistance providers
1. Small Business Development Centers (SBDCs)
What They Offer: SBDCs provide free one-on-one business consulting and affordable training in areas like business planning, marketing, and financial management.
Where to Find Them: Operated in partnership with the U.S. Small Business Administration, they have locations across the country. Frequently, SBDCs are located within major universities
Website: www.sba.gov/sbdc
2. SCORE
What They Offer: SCORE connects entrepreneurs with volunteer mentors who provide free business advice, workshops, and webinars. Topics include business strategy, marketing, funding, and more.
Where to Find Them: SCORE chapters are available in cities and towns nationwide.
Website: www.score.org
3. Women’s Business Centers (WBCs)
What They Offer: Focused on helping women entrepreneurs, WBCs offer free or low-cost training, counseling, and technical assistance in areas like financing, operations, and e-commerce.
Where to Find Them: Funded by the SBA, these centers are located nationwide.
Website: www.sba.gov/women
4. Minority Business Development Agency (MBDA) Business Centers
What They Offer: MBDA centers provide technical assistance specifically for minority-owned businesses, including access to capital, contract opportunities, and business development strategies.
Where to Find Them: Located in major metropolitan areas across the U.S.
Website: www.mbda.gov
5. U.S. Department of Agriculture (USDA) Rural Development
What They Offer: Technical assistance and funding opportunities for businesses and nonprofits operating in rural areas.
Where to Find Them: Local USDA offices or online.
Website: www.rd.usda.gov
6. Veteran Business Outreach Centers (VBOCs)
What They Offer: Tailored support for veteran entrepreneurs, including business planning, mentorship, and market research assistance.
Where to Find Them: Operated by the SBA, with centers located nationwide.
Website: www.sba.gov/vboc
7. Economic Development Agencies (EDAs)
What They Offer: Local and regional EDAs often provide free or low-cost technical assistance, workshops, and grant opportunities to small businesses.
Where to Find Them: Available through state and regional offices.
Website: www.eda.gov
8. Local Chambers of Commerce
What They Offer: Many local chambers provide free technical assistance, networking events, and access to resources for business growth.
Where to Find Them: Chambers of commerce are present in almost every community.
Website: Check local chamber directories.
