Lending commitment will support estimated 2,000 Veteran-Owned Small Businesses, Add $475 Million in Capital
WASHINGTON – 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.

“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,” SBA Administrator Karen Mills said. “Through this partnership with national lending partners and regional and community 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.”

Veterans make up a large number of successful small business owners. Nine percent 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.

Administrator Mills is announcing the Initiative today at Ft. Bragg, NC, together with representatives of the SBA lending community from across the country, the U.S. Army and transitioning service members who have chosen to participate in SBA’s Operation Boots to Business (B2B) Program, an initiative to train veterans and transitioning service members in business entrepreneurship.

SBA currently engages veterans through its 68 local SBA district offices, 15 Veterans Business Outreach Centers nationwide, and its partnership with 1,000 Small Business Development Centers and some 12,000 SCORE – Counselors to America’s Small Businesses volunteers. Each year SBA helps more than 200,000 veterans, service-disabled veterans and reservists. To learn more about additional opportunities for veterans available through the SBA, please visit the website at www.sba.gov/veterans.

http://www.youtube.com/watch?v=7xoMkymBbK4

SBA 504 Rates

• 20 year effective rate 4.15%
• 10 year effective rate 3.61%
• 20 year note rate 2.11%
• 10 year note rate 1.14%

Can the Prairieland EDC for more details: 800-507-9003

Minnesota Traditional Morris Dancers
Sunday, June 30 –
during Riverfest
Weekend

Owner retiring – available immediately.  Serious inquires only.  Contact Pam Lehmann at the LqP EDA at 320-598-7976 or 320-226-2238.

Minnesota Business 101 will focus on helping new business owners navigate through DEED’s Guide to Starting a New Business in Minnesota. The blog touches on topics ranging from how to organize and register a business to licensing, regulations and financing. Minnesota Business 101 will also include videos offering expert guidance from DEED consultants, advice from Minnesota small-business owners, and small business profiles.

The blog will be updated every Monday. Find it at http://mnbusiness101.wordpress.com/.

For more information on Minnesota Business 101, contact Madeline Koch, Communications Director, 651-398-9459, madeline.koch@state.mn.us.

Mystery at the Museum
Lac qui Parle Historical Society
Madison, MN 
Sunday, Sept. 15th, 2013
Start with dinner at 5:30 p.m.

• Discover your personal leadership strengths and talents
• Better understand situations and your team
• Improve team enthusiasm, productivity and attitudes

DATES:

 All sessions run 9:00 a.m. to 12:00 p.m. Thursdays

• June 6 Situational Leadership Styles
• July 25 Maintaining Positive Workplace Attitudes
• August 1 Supervision in the New Economy
• August 29 Time Management
• September 26 Talent-based Team Building
• October 3 The Fun Factor! Using Fun to Increase Productivity

FEE: $275 for series or $49 per session
Each series purchased guarantees a transferable seat for your company for each session.

REGISTER TODAY:
http://ridgewater.edu/customized-training/Pages/default.aspx 
800-722-1151 ext. 8592 or 5213

INFO:
Pat Lang • 320-234-8537
pat.lang@ridgewater.edu

LOCATION:
Ortonville Public Library
412 NW 2nd St., Ortonville, MN

Venture capital firms that invest in women-led businesses see positive returns, says a new report issued today by the U.S. Small Business Administration (SBA) Office of Advocacy. The report, called Venture Capital, Social Capital, and the Funding of Women-led Businesses, focuses on women entrepreneurs’ access to equity funding and how social networks influence venture capital firms’ decisions to invest. In the report, the authors, Joy Godesiabois and Lawrence Plummer, find that social capital (“who you know and how you know them”) affects funding of women-led firms in different, sometimes conflicting ways.

Venture capital firms tend to invest with familiar social networks that may not include women entrepreneurs. Yet this study shows that when venture capital firms do invest in women-led businesses, they generally improve their bottom line. And venture capital firms that regularly invest as a group in the same businesses tend to invest more often in businesses led by women entrepreneurs, according to the report.

“As investors look for new opportunities, and as we focus on ways to grow our economy, we should look to women entrepreneurs for a good share of new growth,” said Dr. Winslow Sargeant, Chief Counsel for Advocacy.  “Policies that encourage venture capital networks to be more inclusive will create the environment for new high-growth innovative businesses.”

The Office of Advocacy, an independent office that serves as the voice for small business within the federal government, sponsored the report. The full report is available on the Office of Advocacy website at http://www.sba.gov/advocacy/7540.

Stores will honor Shop Hop Special Deals Today & will be open regular store hours.  The Shop Hop will be postponed until Thursday, May 2nd 4:00 -7:30.