SBA Helps Auto Supplier Expand, Add Jobs An auto parts supplier stuggling to due to the credit crunch and the downturn in the American auto industry is now more successful than ever as a result of the federal auto restructuring and loans backed by the U.S. Small Business Administration (SBA). On April 9th U.S. Sen. Sherrod Brown (D-OH), along with U.S. Congresswoman Marcy Kaptur and SBA Midwest Regional Administrator, Marianne Markowitz, visited American Manufacturing in Toledo, Ohio, which is now hiring up to 15 additional positions due to an increase in business. They highlighted the company's remarkable turnaround as well as recent federal efforts to help small businesses grow. Senator Brown, Congresswoman Kaptur and SBA Regional Administrator Markowitz met with employees, toured American Manufacturing's facilities and outlined how this Toledo firm was assisted as a result of federal government assistance through the auto industry restructuring and loans supported by the SBA (see photo above of the Regional Administrator, Chuck Gotberg, CEO of American Manufacturing, and SBA Cleveland Director Gil Goldberg) They were joined by Mike Miller, Chairman and CEO of Waterford Bank, which provided critical loans to American Manufacturing through the SBA.
Youngstown Initiative,'e-200' Emerging Leaders Program Reintroduced The U.S. Small Business Administration, the city of Youngstown, and the Ohio Small Business Development Center (SBDC) at Youngstown State University held a press conference to reintroduce two successful programs, the Youngstown Small Business Initiative and the SBA Emerging 200 program, on Tuesday, April 24 at Youngstown State University. The Youngstown Small Business Initiative combines SBA loan guarantees with additional resources offered by the city of Youngstown, creating unique growth opportunities for businesses in the city. It is designed to attract and keep small businesses in the city of Youngstown by providing greater access to capital and government contracting opportunities for entrepreneurs wanting to start, grow, or maintain their business.
The goal of the SBA e200 Emerging Leaders program is to identify businesses that show a high potential for growth - and to provide them the network, resources and motivation required to build a sustainable business of size and scale (see class of 2012 above). The SBA Emerging 200 Initiative enables the participation of small businesses to engage in an intensive strategy for their business, including options for capital access and contracting. New Initiative for District Lending The Cleveland District Office and the Federal Reserve Bank of Cleveland hosted a special forum entitled "Access to Capital and Credit for Capacity: Special Challenges for Start-Ups and New Businesses" on April 16. SBA Cleveland District Director Gil Goldberg presented (see photo above), along with other representatives from the SBA, the Federal Reserve Bank of Cleveland, SCORE, the Cleveland SBDC, and local government economic development agencies. The agenda included a discussion about the importance of new business and start-up loans for revitalization of both rural and urban neighborhoods. Under the Initiative the District Office has had similar roundtables in Toledo and Freemont. The District Office plans to have other roundtables around northern Ohio. The roundtables thus far have concluded that new and start-up business lending can be done in a credit-worthy fashion when all the right ingredients come together - the right equity injection, a good business plan with vetted projections and the right experience. If you are interested in how the District Office can help you make these loans please feel free to call Director Goldberg at 216-522-4182.
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