SBA Renews Funding for Pacific Northwest Veteran Business Outreach Center

The SBA announced funding in the total grant amount of $3.8 million for 14 Veteran Business Outreach Centers (VBOCs), including the continuation of the VBOC in Seattle, which covers Washington, Oregon, Idaho and Alaska.

The extended funding will enable the VBOC to counsel, train, and provide assistance, comprehensive business assessment and mentoring to veteran and service-disabled veteran entrepreneurs, in addition to Reserve Component, National Guard and transitioning service members interested in starting or expanding a  small business.

A key responsibility of the VBOCs is to support transitioning service members as they embark on post-military service careers that often include small business ownership and other forms of self-employment.

During 2014 alone, the VBOC in Seattle served 831 clients, assisted with 185 business startups, and helped create or maintain 309 jobs.

A portion of the funding will be used to cover costs associated with coordinating, delivering, and conducting outreach to increase participation in the entrepreneurship track of the Department of Defense’s (DOD’s) Transition Assistance Program (TAP), known as Boots to Business, on military installations in the continental United States and its territories. VBOCs are directed by the Small Business Act to participate in the DOD’s Transition Assistance Program.

Each year the SBA helps more than 200,000 veterans, service-disabled veterans and reservists start and grow their small businesses.

To learn more about additional opportunities for veterans available through the SBA, visit HERE.

To connect with the local VBOC, click HERE, call (206) 324-4330 x122 or e-mail HERE.

Workshop for Aspiring Vetrepreneurs

Boots to Business: Reboot is a two-day intensive starting a business workshop for long-time separated and retired veterans and their spouses modeled after the current nationwide Boots to Business curriculum for newly transitioning veterans. 

It will be held on August 20 & 21 at Highline Community College from 8:30 – 4 on both days.

There will be a Resource Panel on August 21 from 9:30 – 10:50, moderated by the Small Business Administration’s own Veterans Affairs Officer, Rick Rauschenbach. 

At the Reboot to Business workshop event 21 Aug are a few key considerations:

• Link to the Agenda here.
• The presentation (Module 8-Local Resources) will be held in Building 8 of the Mt. Constance/Mt. Olympus room and the Resource Fair will be adjacent to the room
• The Resource Fair will be open from 10:50-4:00, with 2 breaks at 12:30-1:45 and 2:00-3:00

(Click on Image for a Larger View)

SBA Earns Accolates for Vet Entrepreneurship Programs

The Senate Appropriations Committee praised the Small Business Administration’s “Boots to Business” program for helping transitioning service members start businesses, according to the Association of Defense Communities.

The Senate committee’s draft report accompanying the FY 2015 Financial Services spending bill, which funds the SBA.  The report noted that the entrepreneurial curriculum is offered to service members as an option within the revised transition assistance program. The committee pointed out that many of SBA’s programs for veterans provide counseling and training after service members separate from DOD, even though “pre-deployment training and counseling could potentially be more effective” and save money for veterans and taxpayers.

The panel directs the agency to assess the efficacy of providing counseling and training before deployment, describe the counseling services provided to veteran small business owners in advance of deployment and include recommendations to improve the counseling.

The Appropriations Committee released the report Thursday even though it doesn’t plan to mark up the spending measure.

The panel also said it was concerned about the disparity between the percentage of military personnel that are women, 14 percent, and the portion of veteran-owned small business that are owned by women, 4 percent. The latter figure is “far less than 30 percent of small businesses owned by non-veteran women.”

The committee directs the SBA to assess the current level of outreach for women veterans provided by Women’s Business Centers, Veterans Business Outreach Centers and Small Business Development Centers, “including recommendations for improving outreach to this demographic group.

Tacoma/South Sound Chapter of SCORE Takes Top Honors

The Tacoma/South Sound chapter of SCORE, is the U.S. Small Business Administration (SBA) 2014 Washington Veteran Small Business Champion a nonprofit whose volunteers provide free mentoring to small businesses and future entrepreneurs.

The SBA Veteran Small Business Champion Award honors those who have fulfilled a commitment to advancing small business opportunities for veterans of the U.S. Armed Forces. 

The skills veterans acquire from service can be directly translated into owning and operating a business, said Nancy Porzio, SBA Seattle district director. Without the help of the Tacoma/South Sound chapter of SCORE, we wouldn’t be able to reach as many transitioning service members through our Boots to Business program.

The SBA Boots to Business initiative is a two-step training program that ensures every transitioning service member has access to the tools and knowledge they need to identify a business opportunity, draft a business plan, connect with local small business resources, and launch their small business.

Tacoma/South Sound SCORE has led seven workshops to more than 360 veterans at Joint Base Lewis-McChord transitioning from a service member to a business owner through the SBA Boots to Business program.

The chapter is scheduled to conduct eight more workshops during the remainder of 2014.

Joint Base Lewis McChord is located in the heart of the Tacoma/South Sound SCORE chapter, said Dave Binz, Tacoma SCORE president. Leading these workshops is very rewarding.

The SBA 2014 Washington Veteran Small Business Champion will be recognized at a local awards ceremony event May 8 in conjunction with National Small Business Week May 12-16.

National Small Business Week is a time to recognize the impact small business has on our country, said SBA Regional Administrator Calvin Goings. It’s a chance to celebrate the dedicated, hard-working small business owners who are making a difference in their communities.

Each year since 1963, the President has issued a proclamation calling for the celebration of National Small Business Week. SBA recognizes outstanding small business owners for their personal successes and contributions to our nation.

SBA Seattle District Office 2013 Washington Veterans Small Business Champion

The U.S. Small Business Administration’s (SBA) 2013 Washington State Veteran Small Business Champion of the Year is Giselle Saguid. 

Previously the Program Director of the Northwest Washington Women’s Business Center (NWWBC) located in Everett, Wash., she has spent years teaching entrepreneurial classes as part of the Department of Defense’s (DOD) Transition Assistance Program at Naval Air Station Whidbey Island and Naval Air Station Everett. I am honored to be recognized by the U.S. Small Business Administration as the 2013 Washington State Veteran Small Business Champion of the Year, Saguid said.

Saguid, who lives in Marysville, Wash., has worked with the Department of the Navy, surrounding cities, counties, lending partners and other local, state and federal resources to provide the small business services Veterans need. Saguid also supported Veterans’ spouses who focus on transferrable businesses while part of the military. She has volunteered countless hours to help train and educate Veterans on the transition from service member to business owner, said SBA Regional Administrator Calvin Goings.

Besides working with active duty Sailors and other service members, Saguid organized workshops solely focused on Veterans and their needs. In total, she delivered more than 100 entrepreneurial classes and workshops to Veterans in Snohomish, Island, Skagit and Whatcom counties. I tried to give them information that will be beneficial to them in their new lives that is satisfying and helps take care of their families, Saguid said.

From amongst her peers, the SBA Seattle District Office has chosen Saguid as the best champion for Veterans. Giselle Saguid has been devoted to Washington state service members and Veterans for more than six years, said SBA Seattle District Office Director Nancy Porzio. Her dedication and commitment to helping America’s heroes is evident.

Saguid and other Washington state SBA award recipients will be recognized for their achievements at the 2013 SBA Annual Small Business Awards Gala Thursday at the Museum of Flight. 

For more information about Saguid, call (206) 324-4330 Extension 123 or email giselles@seattleccd.com. For more information about SBA or the SBA Annual Small Business Awards Gala, call (206) 553-7310 or email lorin.smith@sba.gov. 

SBA Announces Veteran Pledge Iniative

The U.S. Small Business Administration (SBA) is announcing today the SBA Veteran Pledge Initiative, a commitment by its top national, regional and community lenders to collectively increase their lending activity to veterans by five percent per year for the next five years.

Often times, veterans face challenges in raising capital or have trouble receiving a conventional loan. With the support of SBA’s top 20 national lending partners, and approximately 100 additional regional and community lending partners across the United States, SBA expects to assist an additional 2,000 veterans obtain loans to start or expand small businesses by increasing lending by $475 million over the next five years. This equals a five percent increase above historic veteran lending activity by the SBA.

The initiative also complements SBA’s existing partnership with the National Association of Development Companies (NADCO) VetLoan Advantage strategic initiative that offers small business financing discounts and training to veterans who own businesses or are interested in small business ownership.
Are you a veteran transitioning from active service and want to become an entrepreneur? Or perhaps you’ve been out of the service for some time and want to start a new small business or expand an existing one?

If that’s you or someone you know, the U.S. Small Business Administration (SBA) has announced the SBA Veteran Pledge Initiative, a new commitment by its top national regional and community lenders to collectively increase their lending activity to veterans by five percent per year for the next five years. This initiative has the potential to boost the already $2.1 billion per year in lending support that various SBA programs provide to new and existing vet small business owners.

I’ve heard stories that many veteran entrepreneurs face challenges in raising capital or have trouble receiving a conventional loan. This is why getting out the word about this new initiative is so important.  With the support of SBA’s top 20 national lending partners, and approximately 100 additional regional and community lending partners across the United States, SBA expects to assist an additional 2,000 veterans obtain loans to start or expand small businesses by increasing lending by $475 million over the next five years.

This initiative also complements SBA’s existing partnership with the National Association of Development Companies (NADCO's) VetLoan Advantage strategic initiative that offers small business financing discounts and training to veterans who own businesses or are interested in small business ownership.

The combined goal by the top 20 national lending partners’ will provide nearly $249 million of lending, potentially impacting nearly 800 veteran entrepreneurs. The five percent increase in lending by approximately 10 lenders in each of the 10 Regions will account for the remaining $226 million in loans and more than 1,100 additional veteran entrepreneurs assisted.

Rhett Jeppson, SBA Official said he knows that if we support our veteran entrepreneurs, and provide them with the tools they need, they will have a higher chance of success.  Already, veterans make up a large number of successful small business owners.  Nearly one in ten of small businesses are veteran-owned.  These 2.45 million veteran-owned businesses employ more than 5 million individuals.  In the private sector workforce, veterans are more likely than those with no active-duty military experience to be self-employed.

Echoing these sentiments was SBA Administrator Karen Mills, speaking recently at Ft. Bragg, North Carolina, who said “Our service men and women have made incalculable contributions and sacrifices for our country, and supporting them as they pursue their dreams to start or grow their own business is one of SBA’s highest priorities. Through this partnership with national lending partners and regional lenders across the U.S. we stand ready to serve veteran entrepreneurs with loan- guarantees, entrepreneurial training, and resources that are critical tools to help them start businesses, drive the local economy and create jobs for themselves and their communities.”

And so, Jeppson said for all of you aspiring and existing entrepreneurs, if you need capital for your small business, please call one of SBA's 68 local district offices, or one of its 15 Veterans Business Outreach Centers nationwide.

SBA’s resources for veterans, and its partnership with 1,000 Small Business Development Centers and some 12,000 SCORE-Counselors to America's Small Businesses volunteers, help more than 200,000 veterans, service-disabled veterans and reservists each year.

To learn more about additional opportunities for veterans available through the SBA, please visit this website.