I am a firm believer that a rising tide is needed to lift all boats, which is why I had the Village of Croton partner with the US Small Business Administration to hold a free seminar for local entrepreneurs at the Croton Yacht Club last Wednesday.
US SBA offers loan guarantees to support financing for small business. The federal agency also provides grant money to not-for profit small business centers that employ professional business advisors that help small business owners with expert advice.
SBA supports several small business resource centers like those in attendance on Wednesday– such as the Women’s Business Center (WBC) in Westchester Country and SCORE. Select financial institutions were also in attendance. These organizations utilize SBA’s loan guarantee to make small business loans that don’t conform to their typical underwriting criteria.
At the SBA seminar, these lenders explained to prospective businesses how to position themselves to win the confidence of lenders and investors and secure the money they need to expand.
I am glad that the SBA is offering our local businesses and entrepreneurs the tools they need to succeed. Small business creates jobs, builds local wealth and grows our tax base.
This SBA seminar was one step towards fostering innovation and investment. Therefore, as always, I encourage those with suggestions about how to further local economic growth and wealth creation by writing me at: email@example.com