Description
Stepping Up Member Business Lending Women And Veterans
STEPPING UP MEMBER BUSINESS LENDING:
WOMEN AND VETERANS = TWO PRIME SBA PROSPECTS
"At the SBA...we believe that entrepreneurs and small business owners are one
of our nation's greatest assets." - Karen Mills, SBA Administrator
With the increasing number of women looking to grow or establish businesses,
and with more 200,000 people discharged from the U.S. Military each year, your
credit union has a great opportunity to increase your SBA loan portfolio - and
give a jolt to your local economy.
Let these prospects know you're serious about their business:
Women Business Owners & Entrepreneurs
October is National Women's Small Business Ownership Month. Throughout the
month, the SBA held a series of web chats aimed at helping aspiring and
established woman business owners learn more about starting or expanding
small businesses and gaining access to capital.
Some Statistics: Women-owned businesses are one of the fastest growing
segments of the small business community. According to the SBA, about 30% of
small businesses are owned by women, compared to about 5% in 1970. That's
7.8 million companies generating $1.2 trillion a year in sales. Over the past four
years, the SBA has supported more than $12.4 billion in lending through more
than 35,500 SBA loans to women-owned businesses.
Veterans
According to the most recent U.S. Census Data, veteran-owned firms represent
9% of all U.S. companies, with 2.45 million of these businesses employing more
than 5.8 million people. There's an increasing number programs nationwide that
help returning service members start small businesses, most of them university-
affiliated public-private partnerships.
And the SBA, which supported more than $1.5 billion in loans to veteran
business owners in 2011, has been getting into the act in a big way:
Patriot Express & SBA Express. The SBA's Patriot Express Pilot Loan
Initiative is for veterans and members of the military community wanting to
establish or expand small businesses. The SBA Express program gives small
business borrowers an accelerated turnaround time for SBA's review, with
applicants receiving a response within 36 hours. Lower interest rates are often
available when applicants apply through an Express program.
Operation Boots to Business. In an all-out effort to transition returning
veterans to the business world, the SBA will be taking entrepreneurship training
directly to veterans - before they're veterans. Under Operation Boots to
Business, the SBA will begin conducting introductory entrepreneurship classes
at military bases across the country over the next year.
These and programs like them are providing the tools. You have the opportunity
to grant the loans.
Reach out to each audience in your community - members and non-members.
Follow up National Women's Small Business Ownership Month. Work with local
veterans groups to identify likely entrepreneurs. Host a Business Breakfast or
early evening Business Forum for new and existing business owners and
entrepreneurs. Introduce them to your credit union's business services and your
member business lending team.
As a long-time advocate of small business, I'm proud of my recent appointment
to the Advisory Committee of a U.C.L.A. Extension program under development
that will provide training for existing and aspiring entrepreneurs.
I encourage your participation in granting a step up to America's small business
owners - and increasing your profitability at the same time!
Joanna
Joanna Bruno
President
J.R. Bruno & Associates
870 Market Street, Suite 462
San Francisco, CA 94102
415.362.1200
[email protected]
Visit us at www.jrbrunoassoc.com
doc_410597457.pdf
Stepping Up Member Business Lending Women And Veterans
STEPPING UP MEMBER BUSINESS LENDING:
WOMEN AND VETERANS = TWO PRIME SBA PROSPECTS
"At the SBA...we believe that entrepreneurs and small business owners are one
of our nation's greatest assets." - Karen Mills, SBA Administrator
With the increasing number of women looking to grow or establish businesses,
and with more 200,000 people discharged from the U.S. Military each year, your
credit union has a great opportunity to increase your SBA loan portfolio - and
give a jolt to your local economy.
Let these prospects know you're serious about their business:
Women Business Owners & Entrepreneurs
October is National Women's Small Business Ownership Month. Throughout the
month, the SBA held a series of web chats aimed at helping aspiring and
established woman business owners learn more about starting or expanding
small businesses and gaining access to capital.
Some Statistics: Women-owned businesses are one of the fastest growing
segments of the small business community. According to the SBA, about 30% of
small businesses are owned by women, compared to about 5% in 1970. That's
7.8 million companies generating $1.2 trillion a year in sales. Over the past four
years, the SBA has supported more than $12.4 billion in lending through more
than 35,500 SBA loans to women-owned businesses.
Veterans
According to the most recent U.S. Census Data, veteran-owned firms represent
9% of all U.S. companies, with 2.45 million of these businesses employing more
than 5.8 million people. There's an increasing number programs nationwide that
help returning service members start small businesses, most of them university-
affiliated public-private partnerships.
And the SBA, which supported more than $1.5 billion in loans to veteran
business owners in 2011, has been getting into the act in a big way:
Patriot Express & SBA Express. The SBA's Patriot Express Pilot Loan
Initiative is for veterans and members of the military community wanting to
establish or expand small businesses. The SBA Express program gives small
business borrowers an accelerated turnaround time for SBA's review, with
applicants receiving a response within 36 hours. Lower interest rates are often
available when applicants apply through an Express program.
Operation Boots to Business. In an all-out effort to transition returning
veterans to the business world, the SBA will be taking entrepreneurship training
directly to veterans - before they're veterans. Under Operation Boots to
Business, the SBA will begin conducting introductory entrepreneurship classes
at military bases across the country over the next year.
These and programs like them are providing the tools. You have the opportunity
to grant the loans.
Reach out to each audience in your community - members and non-members.
Follow up National Women's Small Business Ownership Month. Work with local
veterans groups to identify likely entrepreneurs. Host a Business Breakfast or
early evening Business Forum for new and existing business owners and
entrepreneurs. Introduce them to your credit union's business services and your
member business lending team.
As a long-time advocate of small business, I'm proud of my recent appointment
to the Advisory Committee of a U.C.L.A. Extension program under development
that will provide training for existing and aspiring entrepreneurs.
I encourage your participation in granting a step up to America's small business
owners - and increasing your profitability at the same time!
Joanna
Joanna Bruno
President
J.R. Bruno & Associates
870 Market Street, Suite 462
San Francisco, CA 94102
415.362.1200
[email protected]
Visit us at www.jrbrunoassoc.com
doc_410597457.pdf