2015 Resource Guide for Small Business U.S. Small Business Administration • New York

SBA Resource Partners: Making the Network Work for You page 40

PAGE 10 Counseling PAGE 20 Capital PAGE 41 Contracting

SMALL BUSINESS Reni Publishing Publishers of Small Business Resource

Advertising Phone: 863-294-2812 • 800-274-2812 Fax: 863-299-3909 • www.sbaguides.com

Staff President/CEO content2015 NEW YORK Joe Jensen [email protected] English/Spanish Small Business Resource FEATURES Advertising Nicky Roberts [email protected] 4 Introduction 40 Feature Article Martha Theriault [email protected] 4 Administrator’s Message Making the Most of SBA’s Kenna Rogers [email protected] 6 Regional Administrator’s Resource Partner Network Message Production Diane Traylor [email protected] 8 District Director’s Letter 41 Contracting Applying for Government 10 Counseling Contracts SBA’s Marketing Office: Getting Help to Start Up, Market 41 How Government Contracting The Small Business Resource Guide is published under the direction of SBA’s Office of Marketing and and Manage Your Business Works Customer Service. 10 SBA Resource Partners 42 SBA Contracting Programs 15 SBA’s Learning Center 45 Getting Started in Contracting Director of Marketing 16 Reaching Underserved Paula Panissidi Communities 46 Disaster Assistance [email protected] 18 Are You Right for Small Knowing the Types of Assistance Business Ownership? Available for Recovery Graphic Design 19 Writing a Business Plan Gary Shellehamer 48 Advocacy and Ombudsman [email protected] 20 Capital Watching Out for Small Business Financing Options to Start or Interests SBA’s participation in this publication is not an endorsement of the views, opinions, products or Grow Your Business services of the contractor or any advertiser or other 20 SBA Business Loans 49 Additional Resources participant appearing herein. All SBA programs 22 What to Take to the Lender Taking Care of Start Up Logistics and services are extended to the public on a nondiscriminatory basis. 31 Surety Bond Guarantee 52 Business Organization: Program Choosing your Structure Printed in the United States of America 32 Small Business Investment While every reasonable effort has been made Company Program 53 Other Assistance to ensure that the information contained herein 32 Small Business Innovation is accurate as of the date of publication, the information is subject to change without notice. Research Program  The contractor that publishes this guide, the federal 32 Small Business Technology government, or agents thereof shall not be held Transfer Program liable for any damages arising from the use of or reliance on the information contained in this 36 Active Lenders publication. 37 SBA Loan Program Chart SBA Publication # MCS-0018 39 SBA Lenders Program Chart This publication is provided under SBA Contract # SBAHQ05C0014.

On the Cover: Amy Trelenberg and Megan Healty. See page 59 for their success story.

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 3 The U.S. Small Business Administration FROM THE ADMINISTRATOR Let’s Work Together

When I took my One of our resource partners is SCORE oath as the new –For the Life of Your Business-, who SBA Administrator marks its 50th anniversary this year. I was energized to SCORE’s 11,000+ volunteer mentors work on behalf of are both working and retired business entrepreneurs like you. I know you’ve professionals who are dedicated to risked so much to start and grow your providing you with game-changing small business, because I’ve stood in advice and support. You can learn more your shoes. I’ve started three small about SCORE and our other resource businesses of my own, including a partners, Small Business Development community business bank that provided Centers (SBDC) and Womens Business capital to other small businesses. This Centers (WBC) in the Counseling section not only strengthened my knowledge of this guide. Our feature article also of the challenges you face, it also provides information about leveraging strengthened my resolve to help you our resource partner network at different overcome those hurdles and succeed. points in your small business journey and shares success stories of small When I started my first business almost businesses like you who have benefitted 20 years ago, I experienced similar from SBA resource partner support. To changes to the ones you face today. On find the location of your nearest SBA any given day, I could be called upon District Office or resource partner, visit to be my company’s human resources www.sba.gov/tools/local-assistance. director, CFO, COO, or chief sales officer — all while competing against larger At the SBA, taking care of business has firms in highly competitive markets. I been our business for 61 years. This know you multitask your way through agency has been an important force in similar days to grow your business and America’s economic recovery, but we’re provide good jobs for your employees. only getting started. We look forward to helping you become the next great My message to you is a simple one: American success story. The SBA is here for you, to help you access capital, counseling, contracts, Sincerely, or assistance after a natural disaster. We have dedicated resource partners in every community in America whose job is to make your job easier. They will Maria Contreras-Sweet work with you one-on-one to answer Administrator your questions, and they will help U.S. Small Business Administration you open new doors to new business opportunities.

4 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny

The U.S. Small Business Administration FROM THE REGIONAL ADMINISTRATOR Partnering For Success!

Small businesses fees or reduced fees on some of our are the fuel in the products. We also provide technical U.S. economy’s assistance through our trained experts engine that keeps and our resource partner networks. this country moving If you want to sell your goods to the forward, and restarts federal government, we can assist you it when it stalls. with obtaining federal government From creating two contracts. When disaster strikes, we are out of every three there to help you rebuild and get the jobs, to strengthening local economies, doors open again. Under the leadership stabilizing and beautifying communities, of SBA Administrator Maria Contreras- providing jobs to the unemployable, Sweet, the SBA is being retooled to growing the middle class and leading be technologically Smart, Bold in our innovation, this nation’s growth is approach to meeting current and future intrinsically connected to the growth and needs of small businesses and Accessible expansion of small businesses. to the clients we serve. SBA has a plethora of new programs and services As the newly appointed Regional to meet your needs and I strongly Administrator for SBA’s Region II, that encourage you to visit our website, includes New York, New Jersey, Puerto www.sba.gov where you can find out Rico and the U.S. Virgin Islands, I have more. Also, sign-up for Region II’s been tasked by President Barack Obama Twitter feed which offers tips, tools and to ignite growth in this region. As the trainings for your small business every first African-American and female to day. hold this position, I am excited to do just that and to partner with you for your Finally, know that my door is always small, minority-, female- or veteran- open and my staff is ready, willing and owned business’ success! able to assist you with moving that idea from paper to market or growing your When you think SBA, think three “C’s” existing small business. and a “D,” and those are not our grades! Sincerely, The first ‘C’ stands for Capital, the second ‘C’ stands for Counseling, the third ‘C’ stands for Contracting and the ‘D’ for Disaster Assistance. How does that break down? The SBA can Kellie I. LeDet help place capital into the hands of Regional Administrator small business owners through our Region II diverse loan portfolio. We offer no U.S. Small Business Administration

6 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny

Message From The Acting District Director

We Welcome Your Questions Rules For Success

For an online SBA Resource Guide visit www.sbaguides.com/magazine. Like today’s small businesses, large corporate success stories For extra copies of this publication or started with only an entrepreneur and a dream. questions please contact:

New York District Office 26 Federal Plaza, Room 3100 hank you for reading your business grows, I hope you will New York, NY 10278 the one publication I use the many no-cost, high-quality am certain will have programs and services SBA offers to Hours: 8:30 a.m. - 5:00 p.m. a tremendous impact small business owners. Tel.: 212-264-4354 on the success of your Fax: 212-264-4963 Tentrepreneurial experience. Our resource partners, SCORE— TDD: 212-264-9147 Counselors to America’s Small Let me thank you for taking the Business, the New York Small Website: www.sba.gov/ny/ny opportunity to discover the vast U.S. Business Development Center Small Business Administration’s Network (NYSSBDC), and the (SBA) financial, procurement and Women’s Business Centers, counseled technical assistance programs and and trained thousands of people last services in the greater New York year. Our programs have proven City area. SBA has one goal: to value. I hope you will include SBA in Long Island Branch Office 350 Motor Parkway, Suite 109 help entrepreneurs start and expand your plans for success. Hauppauge, NY 11788 successful businesses. Contact us today and find out how Hours: 8:30 a.m. - 5:00 p.m. The SBA is a federal agency we can assist you. Additionally, Tel.: 631-454-0750 chartered by the U.S. Congress the SBA’s Website, www.sba. Fax: 631-454-0769 to preserve and stimulate free gov is a great source for valuable TDD: 631-454-0777 enterprise in order to maintain and online resources as well as for more strengthen the national economy. information about who we are and Our objective is clear and we take our what we do. Keep a copy of the Organizations that provide assistance responsibilities very seriously. Please 2015 New York Small Business to the small business community and take the time to acquaint yourself Resource Guide handy and share the would like to be considered for inclusion with SBA’s services and use them to information with other entrepreneurs. in future editions of this Guide should ensure your success in business. inquire at the New York District I wish you and your small business Marketing Division at 212-264-9487. The New York Small Business great success. Resource Guide provides practical information and lists resources that Sincerely, will help you start and build your business. Through our resource partners, SBA can help you develop a viable business plan, obtain financing on competitive terms, or develop a marketing strategy for your Francisco Marrero product or service in the national Acting District Director of and international market place. As SBA’s New York District Office

8 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny The SBA helps business owners grow and expand Doing Business in New York their businesses every day.

THE NEW YORK DISTRICT OFFICE training and counseling to help secure SUCCESS STORY Located in Manhattan, the New York those contracts. District Office delivers its programs and Mother-Daughter Small Business services throughout New York City, Our 8(a) and Small Disadvantaged Follows the Scent to Success Long Island and the downstate counties Business programs help certify socially of Dutchess, Orange, Putnam, Rockland, and economically disadvantaged Sullivan, Ulster and Westchester. Our companies to assist them in obtaining Long Island Branch Office services Long federal contracts. Island. Please see the sidebar for contact information and remember to check out DISASTER ASSISTANCE the Calendar of Events at our Web site. As the nation’s “disaster bank,” if your Anjolie Ayurveda Brings Skincare Products business or home is beset by an officially OUR PROGRAMS AND SERVICES declared disaster the SBA is there to help from the Himalayan Mountains The SBA’s programs and services can with financial assistance. At our Web best be described when grouped into site you can find disaster-mitigation NEW YORK, NY--- Several years ago Cary Gabeler embarked on a journey in India and five general areas: financial assistance; advice and guidance. (See page 36.) discovered Ayurveda: an ancient medicinal business education and training; federal ADVOCACY practice native to the area, whose holistic government contracting assistance; approach to healing would inspire her toward advocacy; and disaster assistance. Business owners who believe they are her business venture with her daughter Meryl. Detailed information about those areas as experiencing excessive federal regulatory Cary and Meryl’s love of the Ayurvedic well as a wealth of other small business enforcement actions such as repetitive practice combined with luxurious aromatic assistance is available from this Guide audits/investigations, excessive fines scents and soaps is the foundation that began and the SBA Web site, which gets almost or penalties, can now file their concerns Anjolie Ayurveda, their small business based one million hits per week. electronically with the SBA Ombudsman, in Hastings-On-Hudson, which imports who will try to obtain answers from handmade skincare products from their BUSINESS EDUCATION AND TRAINING the appropriate federal agency within women owned and operated facility in India. 30 days. The SBA’s Office of Advocacy The agency provides free and low- Like many entrepreneurs, and even with meanwhile has the mission to reduce the cost counseling, training and technical Cary’s previous business owner experience, assistance on virtually every business burdens that federal policies impose on they had to overcome a few challenges. management topic to more than 1.5 small firms and maximize the benefits million individuals each year through its small businesses receive from the “When we started out, it was challenging extensive branch of resource partners--- government. because it was just the two of us, so you’re SCORE, SBDCs and WBCs. And if doing everything on your own from the very it’s not convenient to visit one of our The SBA is also a strong advocate of start, which can be overwhelming,” said resource partners or one of our classes, minority and other special audiences. Meryl. seminars or conferences, you can use our Whether you’re looking for information Shortly after launching Anjolie Ayurveda, “Online Classroom.” There, you can take in support of international trade, women Cary and Meryl learned about the Women’s online courses in virtually every aspect entrepreneurs, veteran’s business development, Native Americans, or Enterprise Development Center in White of small business management---- for Plains, New York. WEDC is a resource partner special programs including HUBZones, free! of the U.S. Small Business Administration’s we can help. In fact, we devoted an Women’s Business Center program, and FINANCIAL ASSISTANCE entire Web site to young entrepreneurs - offers training, counseling, and resources to the future of America’s small businesses. SBA-guarantied loans can be used for small business owners and entrepreneurs. almost any legitimate business purpose Cary and Meryl participated in WEDC’s 60+ Hour Entrepreneurial Training Program and with the exception of speculation. were awarded a grant from the organization’s The agency also provides surety bond Lanza Enterprise Award Program which guaranties. provides grants to help women entrepreneurs in the lower Hudson Valley boost their small FEDERAL GOVERNMENT CONTRACTING businesses to the next level. Federal government contracts can be very lucrative for small businesses and The LEAP award funding allowed Cary the SBA has made it easier for small and Meryl to attend their first trade show, businesses to get a piece of the federal resulting in additional opportunities including a feature in Oprah Magazine. Cary and procurement pie. Now you can register Meryl have continued their relationship with electronically in one database, known as WEDC and have also advanced their training the CCR, to be considered by all federal government purchasing officials. The continued on page 24 agency provides contracting guidance,

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 9 COUNSELING Getting Help to Start, Market and Manage Your Business

Found in more than 350 chapters and 800 locations throughout the country, SCORE provides key services – both face-to-face and online – to busy entrepreneurs who are just getting started or are in need of a seasoned business professional as a sounding board for their existing business. As members of your community, SCORE mentors understand local business COUNSELING licensing rules, economic conditions and important business networks. SCORE can help you as they have done for many entreprenurs through the years by: • Matching your specific needs with a business mentor • Traveling to your place of business for an on-site evaluation very year, the U.S. Small 110 Womens’ Business Centers and 350 • Teaming with several SCORE Business Administration SCORE chapters. These professionals mentors to provide you with tailored and its nationwide network can help with writing a formal business assistance in a number of business of resource partners help plan, locating sources of financial areas millions of potential and assistance, managing and expanding Across the country, SCORE offers Eexisting small business owners start, your business, finding opportunities more than 10,000 local business grow and succeed. to sell your goods or services to the educational workshops and seminars Whether your target market is global government, and recovering from ranging in topic and scope depending or just your neighborhood, the SBA and disaster. To find your local district office on the needs of the local business its resource partners can help at every or SBA resource partner, visit community. SCORE workshops cover stage of turning your entrepreneurial www.sba.gov/tools/local-assistance. all manner of business topics, including: dream into a thriving business. an introduction to the fundamentals of If you’re just starting out, the SBA a business plan, managing cash flow SCORE and marketing your business. For and its resources can help you with SCORE is a national network of more established businesses, SCORE offers business and financing plans. If you’re than 11,000 entrepreneurs, business more in-depth training in areas like already in business, you can use leaders and executives who volunteer as customer service, hiring practices and the SBA’s resources to help manage mentors to America’s small businesses. home-based businesses. and expand your business, obtain SCORE volunteers donated more than For around-the-clock business advice government contracts, recover from 1.1 million hours providing services and information on the latest business disaster, find foreign markets, and to small business clients. SCORE make your voice heard in the federal leverages decades of experience from news and trends visit www.sba.gov/score government. seasoned business professionals to or call 800-634-0245 for the SCORE You can access SBA information at help entrepreneurs to start and grow office nearest you. More than 1,200 www.sba.gov or visit one of our local companies and to create jobs in local online mentors with over 150 business offices for assistance. communities. SCORE does this by skill sets answer your questions about harnessing the passion and knowledge starting and running a business. SBA’S RESOURCE of individuals who have owned and For more information on SCORE and managed their own businesses and to get your own business mentor, visit PARTNERS want to share this “real world” expertise www.SCORE.org. In addition to our district offices, with you. which serve every state and territory, the SBA works with a variety of local resource partners to meet your small • You get to be your own boss. business needs: SCORE chapters, Small Business Development Centers ON THE UPSIDE • Hard work and long hours directly benefit you, (SBDCs), and Women’s Business rather than increasing profits for someone else. Centers (WBCs). This partner It’s true, there are a lot of network reaches into communities reasons not to start your • Earnings and growth potential are unlimited. across America: More than 13,000 own business. But for the business counselors, mentors and right person, the advantages • Running a business will provide endless trainers available through over 900 of business ownership far variety, challenge and opportunities to learn. Small Business Development Centers, outweigh the risks.

10 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny BRONX NASSAU ORANGE

Chapter #1000 Chapter #694 Chapter #465 Borough President/BOEDC Branch Nassau County Office of Economic Orange County Chamber of Commerce 851 Grand Concourse, Rm. 123 Development Branch 30 Scott’s Corners Dr. Bronx, NY 10451 40 Main St., 3rd Fl. Montgomery, NY 12549 By appointment Hempstead, NY 11550 By appointment only Mon, Wed, Thurs, Fri. 10:00 am – 2:00 pm Thursdays 9:30 am – 5:00 pm [email protected] COUNSELING [email protected] [email protected] www.orangenyscore.com www.scorenyc.org www.longisland.score.org 845-457-9700 718-590-6252 516-572-1989 PUTNAM BROOKLYN (Kings) NEW YORK Chapter #678 (Headquarters) Chapter #1000 Chapter #1000 (Headquarters) Donald B. Smith County Government Brooklyn Business Library Branch 26 Federal Plaza, Rm. 3100 Campus 280 Cadman Plaza West New York, NY 10278 110 Old Rte. 6, Rm. 8, Bldg. 3 Brooklyn, NY 11201 No appointment necessary Carmel, NY 10512 Mon. & Fri. 10:00 am – 2:00 pm Mon, Wed., & Fri. 10:00 am – 2:00 pm Mons. 9:00 am – 1:00 pm Thurs. 9:00 am – 5:00 pm Tues., Thurs. 10:00 am – 4:00 pm Thurs. 9:30 am – 3:00 pm (Closed during the summer) [email protected] [email protected] [email protected] www.scorenyc.org www.putnamscore.org www.scorenyc.org For SKYPE counseling 845-225-6030 718-590-6252 (by appointment only) [email protected] 212-264-4507 QUEENS Brooklyn Central Library Branch See New York Chapter #1000 10 Grand Army Plaza NY Public Library SIBL Branch Brooklyn, NY 11238 188 Madison Ave. (at 34th St.) RICHMOND Mon & Thurs. 10:00 am – 2:00 pm New York, NY 10016 See Staten Island Chapter #476 718-623-7000 Mondays 11:00am – 6:00 pm Tues., Wed., Thurs. 10:00 am – 7:00 pm CACCI – Flatbush Mart Branch Fri. & Sat. 11:00 am – 2:00 pm 800 Flatbush Ave., Mart #25 212-592-7033 Brooklyn, NY 11226 By appointment only Wednesdays 11:00 am – 3:00 pm 718-941-1424 or 718-834-4544

DUTCHESS

Chapter #059 (Headquarters) Dutchess County Regional Chamber of Commerce 1 Civic Center Plaza, Ste. 400 Poughkeepsie, NY 12601 By appointment Tues & Thurs 10:00 am - 12:00 pm [email protected] www.dutchess.score.org 845-454-1700 ext. 1021

Poughkeepsie Galleria Community Room 2001 South Rd. Poughkeepsie, NY 12601 By appointment Wed 9:00 am – 12 pm & 1:00 pm-4:00 pm 845-454-1700 ext. 1021

LONG ISLAND See – Nassau and Suffolk Chapter #694

MANHATTAN See New York Chapter #1000

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 11 ROCKLAND SUFFOLK SULLIVAN Chapter #677 (Headquarters) Chapter #694 (Headquarters) Chapter #697 Rockland Community College Hauppauge c/o Sullivan County Partnership Brucker Hall, Rm. 6102G 350 Motor Pkwy., Rm. 109 198 Bridgeville Rd. 145 College Rd. Hauppauge, NY 11788 Monticello, NY 12701 Suffern, NY 10901 Mon.–Fri. 10:00 am – 2:00 pm By appointment only By appointment only [email protected] [email protected] Tues 10:00 am-12:00 pm www.longisland.score.org www.sullivancounty.score.org Thurs. 4:00 pm-6:00 pm 631-454–0771 845-343-1515 [email protected] www.rocklandscore.org Bay Shore Branch ULSTER 845-426-1206 Bay Shore Brightwaters Library 1 So. County Rd. Chapter #533 Street Community Center Branch Brightwaters, NY 11718 Business Resource Center 31 Zukor Rd. By appointment only 1 Development Ct., Rm. 101 New City, NY 10956 Tues. 10:00 am – 1:00 pm Kingston, NY 12401 COUNSELING By appointment only 631-665-4350 Tues., Wed., Thurs. 10:00 am – 12:00 pm Mon. & Wed. evenings [email protected] Thurs 6:00 pm – 8:00 pm Hampton Bays Branch www.scoreulster.org 845-426-1206 Hampton Bays Library 845-339-0468 52 Ponquogue Ave. New City Ambulance Corp Branch Hampton Bays, NY 11946 WESTCHESTER 200 Congers Rd. By appointment New City, NY 10956 Mon. 6:45 pm – 9:00 pm Chapter #306 By Appointment only www.longisland.score.org NYS Dept. of Labor (Headquarters) Tues. 10:00 am-12:00 pm & 631-728-6241 120 Bloomingdale Rd. 6:00 pm – 8:00 pm White Plains, NY 10605 845-426-1206 Mastic, Moriches, Shirley Mon.- Fri. 9:00 am – 12:00 pm Shirley Community Library Branch [email protected] Rockland Economic Development Corp. 407 William Floyd Pkwy. www.scorewestchester.com Branch Shirley, NY 11967 914-948-3907 Two Blue Hill Plz. By appointment Pearl River, NY 10965 Mon. 7:00 pm – 9:00 pm Katonah Village Library Branch By appointment only www.longisland.score.org 26 Bedford Rd. Fridays 631-399-1511 ext. 240 Katonah, NY 10536 845-426-1206 By appointment only Riverhead Free Library Branch Mon. & Wed. evenings Haverstraw Extension Center - 330 Court St. www.scorewestchester.com Haverstraw, NY Riverhead, NY 11901 914-948-3907 Second Fl., Rm. H208 By appointment 37 W. Broad St. Fri. 10:00 am – 2:00 pm New Rochelle Public Library Branch Haverstraw, NY 10927 www.longisland.score.org 1 Liberty Plz. By appointment only 631-727-3228 ext. 131 New Rochelle, NY 10801 845-426-1206 By appointment only Rogers Memorial Library Branch Mon. 6:00 pm – 8:00 pm STATEN ISLAND (Richmond) 91 Cooper Farm Rd. www.scorewestchester.com Southampton, NY 11968-4832 914-948-3907 Chapter #476 (Headquarters) By appointment only Staten Island. Bank & Trust Fri. 10:00 am – 2:00 pm White Plains Public Library Branch 1550 Richmond Rd. www.longisland.score.org 100 Martine Ave. Staten Island, NY 10304 631-283-0774 ext. 505 White Plains, NY 10601 Tues. & Thurs. 9:00 am – 12:00 pm By appointment only [email protected] Shoreham Branch Wed. 6:30 pm – 8:00 pm www.scorestatenisland.org North Shore Public Library www.scorewestchester.com 718-727-1221 250 Rte. 25A 914-948-3907 Shoreham, NY 11786 Chamber of Commerce Branch By appointment only Yonkers Chamber Branch 130 Bay St. Wed. 10:00 am – 1:00 pm Yonkers Chamber of Commerce Staten Island, NY 10301 www.longisland.score.org 55 Main St., 2nd Fl. By appointment only 631-929-4488 ext. 225 Yonkers, NY 10701 Wed. 9:00 am - 11:30 am By appointment 718-727-1221 Town of Brookhaven Tues. 1:00 pm– 4:00 pm Division of Economic Development Branch www.scorewestchester.com St. George Library Branch 1 Independence Hill 914-963-0332 5 Central Ave. Farmingville, NY 11738 Staten Island, NY 10301 By appointment only By appointment www.longisland.score.org Sat. 10:00 am – 12:00 pm Tues. & Fri. 10:00 am – 1:00 pm www.scorestatenisland.org 631-451-6563 718-442-8560

12 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny BRONX MANHATTAN SMALL BUSINESS Clarence Stanley, Director Kaaryn Nailor Simmons, Director DEVELOPMENT CENTERS Small Business Development Center Columbia-Harlem Small Business The U.S. Small Business Carman Hall, Rm. 128 Development Center Administration’s Small Business 250 Bedford Park Blvd. W. Columbia Business School Development Centers (SBDC) mission Bronx, NY 10468-1589 Columbia University is to build, sustain, and grow small 718-960-8806 3022 Broadway businesses; as well as to promote small [email protected] Uris Hall, Rm. 310

www.bronx.nyssbdc.org New York, NY 10027 COUNSELING business development and enhance local 212-854-6444 economies by creating businesses and BROOKLYN (Kings) [email protected] fulfilling its mission of creating jobs. Robert Piechota, Director www.nyssbdc.org The Small Business Development Small Business Development Center Centers, vital to SBA’s entrepreneurial New York City College of Technology Ira Davidson, Director outreach, have been providing service Howard Bldg. 25 Chapel St., 11th Fl. Small Business Development Center to small businesses for almost 35 years. Brooklyn, NY 11201 Pace University It is one of the largest professional 718-797-0187 163 William St., 3rd Fl. small business management and [email protected] New York, NY 10038 www.nyssbdc.org technical assistance networks in the 212-618-6655 nation. With over 900 locations across Satellite offices located at: [email protected] the country, SBDCs offer existing and St. Joseph’s College 718-940-5420 www.nyssbdc.org future entrepreneurs free one-on-one Brooklyn Navy Yard 718-797-0187 Ulas Neftci, Director expert business counseling and low-cost Coney Island 347-917-3790 Kingsborough Community College Small Business Development Center training by qualified small business Baruch College professionals. 718-368-6782 Red Hook 718-965-3100 ext. 111 55 Lexington Ave. (at 24th St.), Ste. 2-140 In addition to its core services, New York, NY 10010 the SBDCs offer special focus areas DUTCHESS 646-312-4790 such as green business technology, Mid-Hudson Small Business [email protected] disaster recovery and preparedness, Development Center www.nyssbdc.org export assistance, international trade Satellite offices located in Fishkill and assistance, veteran’s assistance, Poughkeepsie. Call 845-339-0025 for technology transfer and regulatory appointment. compliance. The program combines a unique combination of federal, state and private sector resources to provide, in every state and territory, the foundation for the economic growth of small businesses. The return on investment is demonstrated by the program’s success during FY2013. • Assisted more than 14,200 entrepreneurs to start new businesses – equating to nearly 39 new business starts per day. • Provided counseling services to more than 104,000 emerging entrepreneurs and over 96,000 existing businesses. • Provided training services to approximately 330,000 clients. The efficacy of the SBDC program has been validated by a nationwide impact study. Of the clients surveyed, more than 80 percent reported that the business assistance they received from the SBDC counselor was worthwhile. The top five impacts of counseling cited by SBDC clients were revising marketing strategy, increasing sales, expanding products and services, improving cash flow and increasing profit margin. More than 40 percent of long-term clients receiving five hours or more of counseling reported an increase in sales and profit margins. For information on the SBDC program, visit www.sba.gov/sbdc.

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 13 NASSAU/WESTERN SUFFOLK STATEN ISLAND (RICHMOND) WBCs are located within non-profit host Erica Chase, Acting Director Dean Balsamini, Director organizations that offer a wide variety Small Business Development Center Small Business Development Center of services in addition to the services Farmingdale State College College of Staten Island provided by the WBC. Many of the Campus Commons Bldg. 2800 Victory Blvd., Bldg. 3A, Rm. 105 WBCs also offer training and counseling SUNY@Farmingdale Staten Island, NY 10314-9806 and provide materials in different 2350 Broadhollow Rd. 718-982-2560 languages in order to meet the diverse Farmingdale, NY 11735 [email protected] needs of the communities they serve. 631-420-2765 www.statenisland.nyssbdc.org WBCs often deliver their services [email protected] through long-term training or group www.farmingdale.edu/SBDC SUFFOLK counseling, both of which have shown to Jeffrey Saelens, Director be effective. WBC training courses are Satellite offices in Brookville and Small Business Development Center often free or are offered for a small fee. Hempstead. Call 631-420-2765 for Stony Brook Univeristy Research and Some centers will also offer scholarships appointment. Development Park based on the client’s needs. Research and Support Services While most WBCs are physically QUEENS Bldg #17., Rm. 146

COUNSELING Harry Wells, Director Stony Brook, NY 11794-6016 located in one designated location, a Small Business Development Center 631-632-9070 number of WBCs also provide courses York College [email protected] and counseling via the Internet, mobile 94-50 159th St., Rm. 107 www.stonybrook.edu-sbdc classrooms and satellite locations. Jamaica, NY 11451-9902 WBCs have a track record of success. 718-262-2880 Satellite offices located in Riverhead, In fiscal year 2013, the WBC program [email protected] Farmingville, Patchogue, Brentwood, counseled and trained nearly 134,000 www.nyssbdc.org Southampton, Huntington Call clients, creating local economic growth 631-632-9070 to make an appointment. and vitality. In addition, WBCs helped Rosa A. Figueroa, Director entrepreneurs access more than Small Business Development Center SULLIVAN $25 million dollars in capital. Based La Guardia Community College/CUNY Locations in Lock Sheldrake, Monticello, on a 2010 Impact Study, of the WBC Division of Adult and Continuing Education Margaretville, call 845-339-0025 for clients that have received three or 30-20 Thomson Ave., Ste. BA02 appointment more hours of counseling, 15 percent Long Island City, NY 11101-2940 indicated that the services led to hiring 718-482-5303 ULSTER/MID-HUDSON new staff, 34 percent indicated that [email protected] Arnaldo Sehwerert, Ph.D., Director the services led to an increased profit http:laguardia.nyssbdc.org Mid-Hudson Small Business margin, and 47 percent indicated that Development Center the services led to an increase in sales. ROCKLAND/WESTCHESTER SUNY Ulster Business Resource Center In addition, the WBC program has Thomas Morley, Director One Development Court taken a lead in preparing women Small Business Development Center Kingston, NY 12401-1949 business owners to apply for the Rockland Community College/SUNY 845-339-0025 Brucker Hall, Rm. 6102 [email protected] Women-Owned Small Business 145 College Rd. www.mid-hudson.nyssbdc.org (WOSB) Federal Contract program Suffern, NY 10901-3620 that authorizes contracting officers to 845-356-6065 Satellite Offices in Margaretville, Fishkill, set aside certain federal contracts for [email protected] Liberty, New Windsor and Poughkeepsie. eligible women-owned small businesses www.nyssbdc.org Call 845-339-0025 to make an or economically disadvantaged women- appointment. owned small businesses. For more Haverstraw Satellite Office information on the program, visit Rockland Community College WESTCHESTER www.sba.gov/wosb. 37West Broad St. 2nd Fl. See Rockland/Westchester SBDC To find the nearest SBA WBC, visit Haverstraw, NY 10927 www.sba.gov/women. 845-356-6065 WOMEN’S BUSINESS CENTERS BRONX White Plains Satellite Office The SBA’s Women Business Center White Plains SBDC (WBC) program is a network of over 100 Bronx Women’s Business Resource Center 108 Corporate Park Dr. Ste 101 community-based centers that provide George L. Acevedo, Acting Program Director West Harrison, NY 10604 business training, counseling, coaching, Bronx Women’s Business Resource Center 914-948-2110 mentoring and other assistance geared 2488 Grand Concourse, Ste. 321 Mon.-Fri. 9:00am-5:00pm toward women, particularly those Bronx, NY 10458 who are socially and economically 718-933-7479 Purchase Satellite Office disadvantaged. WBCs are located in [email protected] Manhattanville College SBDC nearly every state and U.S. territory www.bronxwbc.org Reid Castle Loc B-15 including the District of Columbia 2900 Purchase St. and the territories of Puerto Rico and BROOKLYN Purchase, NY 10577 American Samoa. They are partially 914-323-5362 funded through a cooperative agreement Business Outreach Center Network Mon.-Fri. 9:00am-5:00pm with the SBA. Delia Awusi, Director of Programs To meet the needs of women 85 S. Oxford St. Tarrytown Satellite Office Brooklyn, NY 11217 845-356-6065 entrepreneurs, WBCs offer services at convenient times and locations, 718-624-9115 Yonkers Satellite Office including evenings and weekends. [email protected] 845-356-6065 www.bocnet.org

14 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny Local Development Corporation Emerging Leaders since its inception. operate in that sector. In addition, of East New York (LDCENY) An independent impact study of market success requires small Jennefer Gustafsson, Program Director Emerging Leaders past participants businesses to know their customers 80 Jamaica Ave., 3rd Fl. reported that they: and target their product development Brooklyn, NY 11207 • Created nearly 2,000 new full-time dollars efficiently. Therefore, through 718-385-6700 ext. 24 jobs intensive, industry-specific technical [email protected] • Secured federal, state, local and assistance, our Clusters help small www.ldceny.org tribal contracts awards over business innovators commercialize

$1 Billion promising technologies needed by COUNSELING QUEENS • Accessed over $73 Million in new government and industry buyers financing in that particular sector. And then, Women’s Business Center Director through showcasing, networking Andrea Ormeno, Director • 95% were satisfied with the Emerging Leaders program. and “demonstration events,” they Queens Economic Development Corporation help get these small businesses and 120-55 Queens Blvd., Ste. 309 Visit www.sba.gov/emergingleaders for their products in front of investment Kew Gardens, NY 11424 more information. 718-263-0546 • 718-263-0594 Fax and other funding sources, research [email protected] institutions and customers/buyers in www.queensny.org order to bring products to market. SBA’S LEARNING CENTER Across the country, our resource SBA’s Learning Center is a virtual STATEN ISLAND partners work with our Regional campus complete with free online Innovation Clusters: The resource courses, workshops, podcasts and Business Outreach Center Network WBC partners provide the businesses with Satellite learning tools. information and coaching on the key C/O Staten Island Business Outreach Center Key Features of the SBA’s Learning building blocks of business success, Loretta Cauldwell, Executive Director Center: while the Cluster experts help them 705 Forest Ave., 2nd Fl.-R • Training is available anytime and with the highly technical product Staten Island, NY 10310 anywhere — all you need is a development and relationship-building 718-816-4775 computer (or mobile device) with assistance necessary to get and keep [email protected] Internet access. customers and investors in their www.WestBrightonLDC.com • Nearly 50 free online and particular market sector (such as interactive courses and workshops smart-grid, fuel cell energy storage, WESTCHESTER AND LOWER-HUDSON available. solar cells, imaging, aerospace, and VALLEY • Checklists and worksheets to get agricultural processing technologies your business planning underway. and networks). Women’s Enterprise Development Center, • Course topics include how to write For more information on SBA’s Inc. a business plan, financing options Cluster Initiative, go to Kenya Ajose, Dirctor that include SBA lending programs, www.sba.gov/clusters. 1133 Westchester Ave., Ste. N220 White Plains, NY 10604 mastering overseas markets 914-948-6098 ext. 11 through exporting, public sector [email protected] procurement tactics, and specialty FINANCIAL LITERACY www.wedc-westchester.org material for veterans, young If you want to start a business or entrepreneurs, and women business learn how to better manage your owners. business money, begin with Money SBA EMERGING LEADERS • Over 10 new courses launched Smart. SBA and FDIC jointly provide The intense seven-month in the last year; including a new an instructor-led business training entrepreneurship training for small Spanish-language version of a curriculum, Money Smart for Small business leaders creates a learning course for Young Entrepreneurs. Business, for free. This curriculum environment to accelerate the growth This robust portal also includes is designed to provide introductory- of high-potential small businesses, video content, templates, and style training for new and aspiring stimulates job creation and helps drive articles. entrepreneurs. The 10 modules economic development within their Visit www.sba.gov/learning for these provide the most essential information communities. A competitive selection free resources. on running a small business from a process results in company executives financial standpoint. In addition to participating in high-level training and peer-networking sessions led by grounding participants in the basics, SBA’S CLUSTER INITIATIVE the curriculum serves as a foundation professional instructors. Graduates Every small business must are poised to create an economic ripple for more advanced training and effectively connect into the key technical assistance. You can find this effect because they are now equipped relationships necessary to drive with the support, resources and curriculum by visiting success in its particular industry or www.sba.gov/moneysmart. enhanced business skills to succeed market sector. Regional Innovation To learn more about the Financial in increasing their revenue, creating Clusters act as a networking hub jobs and driving sustainable economic to connect small businesses in Literacy and Education Commission, growth throughout their communities. a particular industry sector and visit www.mymoney.gov. Impact of Emerging Leaders: geographic region with other business The initiative is currently offered in innovators in the same sector and 27 underserved communities across with specialized suppliers, research the country with plans to expand institutions, large prime customers to more communities in 2015. Over or contractors and investors who also 2,500 businesses have participated in

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 15 REACHING UNDERSERVED COMMUNITIES

The SBA also offers a number of The SBA’s Veterans Office provides program’s mission is to develop veteran programs specifically designed to funding and collaborative assistance for entrepreneurs from the approximately meet the needs of the underserved a number of special initiatives targeting 250,000 service members who transition communities.. local veterans, service-disabled from the military each year. Boots veterans, and Reserve Component to Business is an entrepreneurial members. These initiatives include education program offered as an WOMEN BUSINESS OWNERS elective track within the Department of Women entrepreneurs are changing Veterans Business Outreach Centers (VBOCs), the business assistance tools Defense’s revised Transition Assistance the face of America’s economy. In the Program called Transition Goals, 1970s, women owned less than –Balancing Business and Deployment, and Getting Veterans Back to Business, Plans, Success (Transition GPS). The 5 percent of the nation’s businesses. curriculum provides valuable assistance which includes interactive CD ROMs Today, they are majority owners to transitioning service members of about a third of the nation’s small for reservists to help prepare for exploring self-employment opportunities COUNSELING businesses and are at least equal mobilization and/or reestablishment by leading them through the key steps owners of about half of all small of businesses upon return from active for evaluating business concepts and businesses. SBA serves women duty. the foundational knowledge required for entrepreneurs nationwide through its The agency offers special assistance developing a business plan. Participants various programs and services, some for small businesses owned by activated are also introduced to SBA resources of which are designed especially for Reserve and National Guard members. available to help access start up capital women. Any self-employed Reserve or Guard and additional technical assistance. The SBA’s Office of Women’s member with an existing SBA loan Boots to Business is delivered in Business Ownership (OWBO) serves can request from their SBA lender partnership with SBA resource as an advocate for women-owned or SBA district office loan payment partners and the Institute for Veterans businesses. The office oversees a deferrals, interest rate reductions and and Military Families at Syracuse nationwide network over 100 Women’s other relief after they receive their University. It is available free of Business Centers that provide business activation orders. In addition, the charge at participating installations to training, counseling and mentoring SBA offers special low-interest-rate service members and their dependents geared specifically to women, especially financing to small businesses when an transitioning or retiring from the U.S. those who are socially and economically owner or essential employee is called military. disadvantaged. The program is a to active duty. The Military Reservist The program has three parts: 1) The public-private partnership with locally- Economic Injury Disaster Loan Program Entrepreneurship Track Overview - an introductory video shown during based nonprofits. (MREIDL) provides loans up to the mandatory five day Transition Women’s Business Centers serve $2 million to eligible small businesses to a wide variety of geographic areas, GPS course; 2) Introduction to cover operating costs that cannot be met Entrepreneurship – a two day classroom population densities, and economic due to the loss of an essential employee environments, including urban, course offered as one of the three called to active duty in the Reserves or Transition GPS elective tracks; and, 3) suburban, and rural. Local economies National Guard. Foundations of Entrepreneurship – an vary from depressed to thriving, and Each of the SBA’s 68 District eight week instructor led online course range from metropolitan areas to entire Offices also has a designated veteran’s that offers in-depth instruction on the states. Each Women’s Business Center business development officer. These elements of a business plan and tips tailors its services to the needs of its local points-of-contact assist veteran and techniques for starting a business. individual community, but all offer a small business owners/entrepreneurs After completing the course, counselors variety of innovative programs, often with starting, managing and growing and mentors from SBA’s resource including courses in different languages. successful businesses. Yearly, OVBD partner network remain available They provide training in finance, reaches thousands of veterans, Reserve to work with veterans in their local management, and marketing, as well as component members, transitioning communities. For more information access to all of the SBA’s financial and service members and others who about B2B, please visit procurement assistance programs. are – or who want to become – www.sba.gov/bootstobusiness. entrepreneurs and small business VETERAN BUSINESS OWNERS owners. In fiscal year 2012, the number CENTER FOR FAITH-BASED AND The Office of Veterans Business of veterans assisted through OVBD Development (OVBD), established programs exceeded 135,000. For more NEIGHBORHOOD PARTNERSHIPS SBA’s Center for Faith-Based and with Public Law 106-50, has taken information about OVBD, please visit www.sba.gov/veterans. Neighborhood Partnerships (The strides in expanding assistance to Partnership Center) works to engage veteran, service-disabled veteran small and build strong partnerships with business owners and reservists by NATIONAL BOOTS TO community and nonprofit organizations, ensuring they have access to SBA’s full- both secular and faith-based, to support range of business/technical assistance BUSINESS INITIATIVE entrepreneurship, economic growth and programs and services, and that The aptly named Operation Boots promote prosperity for all Americans. they receive special consideration for to Business program (B2B) builds The center works in coordination SBA’s entrepreneurial programs and on SBA’s role as a national leader with other offices within the Agency resources. in entrepreneurship training. The to assist in formulating policies and

16 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny REACHING UNDERSERVED COMMUNITIES

practices with the goal of extending access to business development and Veterans Business Outreach Center (VBOC) the reach and impact of SBA programs expansion tools available through the David Chiaro, Veteran Business Advisor into communities. SBA recognizes the agency’s entrepreneurial development, NYS Small Business Development Center important role of community leaders lending, and contracting programs. 2350 Broadhollow Rd. and networks in economic development The office provides a network of Farmingdale, NY 11735-1006 631-370-8889 COUNSELING at the local and national level, and training initiatives that include a that partnerships provide effective and [email protected] Native Entrepreneurial Empowerment www.nyvetbiz.com efficient leverage for SBA programs. Workshop, a Native American 8(a) Further, the center plays a key role in Business Development Workshop, a New York City Veterans Assistance helping identify, engage and impact Money Smart Workshop, an Incubator Ryan Letts, NYC Veteran Business Advisor underserved communities. Brooklyn Small Business Development Center Workshop and the online tool, “Small The program engages in outreach, New York City College of Technology technical assistance, education, Business Primer: Strategies for 25 Chapel St., 11th Fl. formulates and administers training Growth”. ONAA also is responsible for Brooklyn, NY 11201 programs, coordinates entrepreneurial consulting with tribal governments 718-797-0187 and business development opportunities prior to finalizing SBA policies that may [email protected] and access to SBA’s 68 district offices have tribal implications. SBA’s Office of Small Business and extensive network of resource grant Visit www.sba.gov/naa for more Development Centers partners. The center additionally works information. (Office Location by State) with the White House Office of Faith- www.sba.gov/sbdc/sbdcnear.html Based and Neighborhood Partnerships and the Faith-Based and Neighborhood VETERANS BUSINESS SBA also administers two Partnership Centers that are within OUTREACH CENTERS contracting and business 13 additional federal agencies, and The Veterans Business Outreach development programs that are participates in interagency working Program (VBOP) is designed to provide specifically designed to benefit groups to ensure effective and efficient entrepreneurial development services underserved communities. For coordination of resources and initiatives. such as business training, counseling more information on the 8(a) The center was established by, and Business Development Program follows the guidelines, operational and mentoring, and referrals for eligible veterans owning or considering and the HUBZone Program, see the policy and statutory requirements of Contracting section. Executive Order 13279 — Fundamental starting a small business. The SBA has 15 organizations participating Principles and Policymaking Criteria Young Entrepreneurs for Partnerships with Faith-Based and in this cooperative agreement The SBA recognizes the importance Other Neighborhood Organizations. and serving as Veterans Business Outreach Centers (VBOC) across the of fostering young entrepreneurs and country. Services provided by VBOC’s small business owners and their role in NATIVE AMERICAN include: pre-business plan workshops, the economy. The SBA offers different concept assessments, business plan activities and resources throughout BUSINESS DEVELOPMENT the year aimed at aspiring young The SBA Office of Native American preparations, comprehensive feasibility entrepreneurs, including social media Affairs (ONAA) ensures that American analysis, entrepreneurial training and outreach and customized online courses. Indians, Alaska Natives and Native counseling, mentorship, and other The SBA also works with other federal Hawaiians seeking to create, develop business-development related services. agencies to provide various activities and expand small businesses have full VBOCs also provide assistance and training in such areas as international for this market (www.findyouthinfo.gov). trade, franchising, Internet marketing, To find more information, visit accounting, etc. For a VBOC directory, www.sba.gov/young. please visit www.sba.gov/vets. Encore Entrepreneurs SBA Answer Desk To help meet the needs of “encore 800-U-ASK-SBA entrepreneurs,” SBA and AARP have New York District Office joined forces to mentor, counsel, Man-Li Lin, Veterans Outreach Officer and educate Americans age 50 and 26 Federal Plaza, Rm. 3100 over on how to start or grow a small New York, NY 10278 business. Through this partnership, 212-264-2846 SBA and AARP collaborate to connect [email protected] the 50+ population to small business SBA Veterans Business Development development resources, including online Office courses, live workshops, conferences, Janet Moorman, Economic Dev. Specialist and mentoring activities. For additional Office of Special Initiatives information, visit www.sba.gov/encore. 202-205-6773 [email protected] www.sba.gov/vets

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 17 ARE YOU RIGHT FOR SMALL BUSINESS OWNERSHIP?

Most new business owners who from having to carry all the succeed have planned for every phase responsibility for the success HOME-BASED BUSINESSES of their success. Thomas Edison, the of their business on their own Going to work used to mean great American inventor, once said, shoulders. Strong motivation traveling from home to a plant, store “Genius is 1 percent inspiration and will help you survive slowdowns or office. Today, many people do some 99 percent perspiration.” That same and periods of burnout. or all their work at home. philosophy also applies to starting a • How will the business affect business. your family? The first few years Getting Started First, you’ll need to generate a little of business start-up can be hard Before diving headfirst into a home- bit of perspiration deciding whether on family life. It’s important for based business, you must know why you’re the right type of person to start family members to know what you are doing it. To succeed, your your own business. to expect and for you to be able business must be based on something to trust that they will support greater than a desire to be your you during this time. There also own boss. You must plan and make IS ENTREPRENEURSHIP may be financial difficulties until improvements and adjustments along the business becomes profitable, the road. COUNSELING FOR YOU? which could take months or Working under the same roof where There is simply no way to eliminate years. You may have to adjust to your family lives may not prove to be all the risks associated with starting a lower standard of living or put a small business, but you can improve family assets at risk. as easy as it seems. One suggestion is your chances of success with good Once you’ve answered these to set up a separate office in your home planning, preparation and insight. questions, you should consider what to create a professional environment. Start by evaluating your strengths and type of business you want to start. Ask yourself these questions: weaknesses as a potential owner and Businesses can include franchises, • Can I switch from home manager of a small business. Carefully at-home businesses, online businesses, responsibilities to business work consider each of the following brick-and-mortar stores or any easily? questions: combination of those. • Do I have the self-discipline to • Are you a self-starter? It will maintain schedules while at home? be entirely up to you to develop • Can I deal with the isolation of projects, organize your time, and FRANCHISING working from home? follow through on details. There are more than 3,000 business • How well do you get along with franchises. The challenge is to decide Legal Requirements different personalities? Business on one that both interests you and is A home-based business is subject to owners need to develop working a good investment. Many franchising many of the same laws and regulations relationships with a variety experts suggest that you comparison affecting other businesses. of people including customers, shop by looking at multiple franchise Some general areas include: vendors, staff, bankers, opportunities before deciding on the • Zoning regulations. If your employees and professionals one that’s right for you. business operates in violation of such as lawyers, accountants, or Some of the things you should them, you could be fined or shut consultants. Can you deal with a look at when evaluating a franchise: down. demanding client, an unreliable historical profitability, effective • Product restrictions. Certain vendor, or a cranky receptionist financial management and other products cannot be produced in if your business interests demand controls, a good image, integrity the home. Most states outlaw it? and commitment, and a successful home production of fireworks, • How good are you at making industry. drugs, poisons, explosives, decisions? Small business sanitary or medical products and owners are required to make In the simplest form of franchising, while you own the business, its toys. Some states also prohibit decisions constantly – often home-based businesses from quickly, independently, and operation is governed by the terms of the franchise agreement. For making food, drink or clothing. under pressure. Be sure to consult an attorney and • Do you have the physical and many, this is the chief benefit for franchising. You are able to capitalize your local and state departments of emotional stamina to run a labor and health to find out which Business ownership on a business format, trade name, business? laws and regulations will affect can be exciting, but it’s also a trademark and/or support system lot of work. Can you face six or provided by the franchisor. But you your business. Additionally, check seven 12–hour workdays every operate as an independent contractor on registration and accounting week? with the ability to make a profit or requirements needed to open your • How well do you plan and sustain a loss commensurate with your home-based business. You may need organize? Research indicates ownership. a work certificate or license from the that poor planning is responsible If you are concerned about starting state. Your business name may need for most business failures. Good an independent business venture, then to be registered with the state. A organization — of financials, franchising may be an option for you. separate business telephone and bank inventory, schedules, and Remember that hard work, dedication account are good business practices. production — can help you avoid and sacrifice are key elements in Also remember, if you have many pitfalls. the success of any business venture, employees you are responsible for • Is your drive strong enough? including a franchise. withholding income and Social- Running a business can wear Visit www.sba.gov/franchise for more Security taxes, and for complying with you down emotionally. Some information. minimum wage and employee health business owners burn out quickly and safety laws.

18 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny WRITING A BUSINESS PLAN

After you’ve thought about what type of business you want, the next step is to develop a business plan. Think of the business plan as a roadmap with milestones

for the business. It begins as a COUNSELING pre-assessment tool to determine profitability and market share, and then expands as an in-business assessment tool to determine success, obtain financing and determine repayment ability, among other factors. Creating a comprehensive business plan can be a long process, and you need good advice. The SBA and its resource partners, including Small Business Development Centers, Women’s Business Centers, Veterans Business Outreach Centers, and SCORE, have the expertise to help Marketing • Discuss your break-even point. you craft a winning business plan. The • Discuss the products and services • Explain your personal SBA also offers online templates to get your company will offer. balance sheet and method of you started. • Identify customer demand for your compensation. • Discuss who will maintain your In general, a good business plan products and services. accounting records and how they contains: • Identify your market, its size and locations. will be kept. Introduction • Explain how your products and • Provide “what if” statements • Give a detailed description of the services will be advertised and addressing alternative business and its goals. marketed. approaches to potential • Discuss ownership of the • Explain your pricing strategy. problems. business and its legal structure. • List the skills and experience you Financial Management Operations bring to the business. • Develop an expected return on • Explain how the business will be • Discuss the advantages you investment and monthly cash managed day-to-day. and your business have over flow for the first year. • Discuss hiring and personnel competitors. • Provide projected income procedures. statements and balance sheets • Discuss insurance, lease or rent for a two-year period. agreements. • Account for the equipment necessary to produce your goods or services. • Account for production and delivery of products and services. Concluding Statement Summarize your business goals and objectives and express your commitment to the success of your business. Once you have completed your business plan, review it with a friend or business associate and professional business counselor like SCORE, WBC or SBDC representatives, SBA district office economic development specialists or veterans’ business development specialists. Remember, the business plan is a flexible document that should change as your business grows.

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 19 CAPITAL Financing Options to Start or Grow Your Business

qualify for credit on reasonable terms by themselves. In the case of microlenders, SBA lends monies to intermediaries at favorable rates so they can re-lend to businesses with financing needs up to $50,000.

7(a) LOAN PROGRAM The 7(a) Loan program is the SBA’s primary business loan program. It is the agency’s most frequently used non-disaster financial assistance program because of its flexibility in loan structure, variety of uses for the loan proceeds and availability. The program has broad eligibility requirements and CAPITAL credit criteria to accommodate a wide range of financing needs. Congress authorized SBA to provide financial assistance either directly any entrepreneurs need players in most of these programs or in cooperation with banks or financial resources to start are the applicant small business, other financial institutions through or expand a small business the lender and the SBA. The Agency agreements to participate in section 7(a) and must combine what does not actually provide the loan, of the Small Business Act. Historically, they have with other but rather they guaranty a portion of a 7(a) loan was provided either Msources of financing. These sources can the loan provided by a lender (except directly from SBA or from regulated include family and friends, venture- for microloans). The lender can be a lenders who provided the loan after capital financing and business loans. regulated bank or credit union, or a they obtained a guaranty from SBA. This section of the Small Business community based lending organization. Since 1996, all 7(a) loans have only Resource guide discusses SBA’s primary The business applies directly to a been provided on a guaranteed basis, business loan and equity financing lender by providing them the documents meaning from a lender participating in programs. These are: the 7(a) Loan they require. Generally an application the 7(a) Loan Guaranty Program. Program, the Certified Development includes a business plan that explains The business loans that SBA Company or 504 Loan Program, the what resources will be needed to guarantees do not come from the Microloan Program and the Small accomplish the desired business Agency, but rather from banks and Business Investment Company purpose including the associated costs, other approved lenders. The loans are Program. The distinguishing features the applicants’ contribution, planned funded by these organizations and they for these programs are the total dollar uses for the loan proceeds, a listing make the decisions to approve or deny amounts that can be borrowed, the type of the assets that will secure the loan the applicants’ request for financial of lenders who can provide these loans, (collateral), a history of the business assistance. the uses for the loan proceeds and the and explanation of how the business The guaranty that SBA provides terms placed on the borrower. The SBA generates income, and most important, the lender reduces the lender’s risk does not provide grants to individual an explanation of how the business will of borrower non-payment because the business owners to start or grow a be able to repay the loan in a timely guaranty assures the lender that if business. manner. the borrower defaults, the lender can The lender will analyze the request that SBA pay the debt rather application to see if it meets their than the borrower. SBA only guarantees SBA BUSINESS LOANS a portion or percentage of every loan If you are contemplating a business criteria and make a determination if they will need an SBA guaranty in not the whole debt, so in the event of loan, familiarize yourself with the SBA’s default the lender will only get partially business loan programs to see if they order to provide the loan. SBA will look to the lender to do much, if not repaid by SBA. This means that if the may be a viable option. The SBA has borrower can’t make the payments and a variety of loan programs which are all, of the analysis before it provides its guaranty to the lender’s proposed defaults, the lender can recover the distinguished by their different uses of guaranteed portion of the defaulted the loan proceeds, their dollar amounts, loan. The SBA’s business loan guaranty programs provide a key source of debt from the SBA. The borrower is still and the requirements placed on the obligated for the full amount. actual lenders. The three principal financing for viable small businesses that have real potential but cannot

20 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny To qualify for an SBA guaranteed 1. Be an operating business (except 8. Be able to demonstrate that it loan, a small business must meet for loans to Eligible Passive can’t get the proceeds from its own the lender’s criteria and the 7(a) Companies); resources or those of its principal program requirements. One of those 2. Be organized for profit; owners and the lender must certify requirements is that the lender must 3. Be located in the United States; that they would only approve certify that it would not provide this 4. Be able to demonstrate a need for the loan if it is able to obtain a loan under the proposed terms and the desired credit. guaranty from SBA. conditions without an SBA guaranty. 5. Be a business, along with its 9. Have ownership that is of Good If the SBA is going to provide a lender Affiliates, that meets SBA’s Size Character with a guaranty, the applicant must be Standard Requirements. 10. Be able to satisfy any eligible and creditworthy and the loan 6. Be a business that is not engaged Miscellaneous Eligibility structured under conditions acceptable in a prohibited business activity or Requirements that may be to the SBA. owned by a non-qualified owner, or imposed on a loan request based The 7(a) Program includes ten (10) located at a prohibited place. on the circumstances of the case types of loans which all share certain 7. Use the Loan Proceeds including, but not limited to the eligibility requirements but which for only acceptable purposes, which purpose of the loan. also have some different requirements includes proceeds to start-up a new so they can accommodate specific business, buy an existing business, business needs and/or give lenders acquire machinery & equipment THE BASIC 7(a) LOAN

greater flexibility with loan structure. and/or furniture & fixtures, The Basic 7(a) Loan is the most CAPITAL The most popular 7(a) loan type is the acquire or renovate a building commonly provided type of SBA Basic 7(a) Loan, which can be used for which the business will occupy, business loan based on historical the most diverse purposes. The other permanent working capital, and dollars approved. They are the most nine 7(a) loan types are variations of refinancing existing business debt flexible types of SBA loans because they the Basic 7(a) Loan with different uses under certain conditions. Proceeds can help finance such a large variety for the loan proceeds and alternative from a Basic 7(a) cannot be used of business purposes for the largest structures. to buy investments that are held number of business types, engaged in To be eligible for any of the 7(a) loans, for their potential appreciation, or the widest spectrum of activities. the recipients must be both eligible and to be provided to an associate In the Federal Government’s 2013 creditworthy. In addition the applicant of the business except under very Fiscal Year (October 1, 2012 to business must: limited circumstances.

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 21 What to Take to the Lender

Documentation requirements will business loan from SBA. The main of thousands of small businesses every vary depending upon the purpose of differences between these different year get financing they might not the loan. Contact your lender for the processing methods are related to otherwise obtain. information you must supply. the experience the lender has in When an SBA guaranty is approved, Common requirements include the requesting guarantees from SBA, the the lender is notified and they will following: documentation the lender provides to work with the applicant to make sure A Business Plan that includes: SBA, the amount of review the SBA the terms and conditions designed for • Purpose of the loan conducts after receiving the request, the specific loan are met before closing • History of the business the amount of the loan and the lender the loan, disbursing the funds, and • Projections of income, expenses responsibilities in case the loan assuming responsibility for payment and cash flow as well as an defaults and the business’ assets must collection and general servicing. explanation of the assumptions be liquidated. The current different The borrower makes loan payments used to develop these projections processing methods are: directly to the lender. As with any • Personal financial statements on • Standard 7(a) Guaranty loan, the borrower is obligated to the principal owners • Certified Lender Program repay the full amount of the loan in a • Resume(s) of the principal • Preferred Lender Program timely manner. owners and managers. • SBA Express • Amount of investment in the • Export Express What the SBA Looks for: business by the owner(s) • Community Advantage • Projected opening-day balance • Ability to repay the loan on time When a lender requests a 7(a) from the projected operating cash

CAPITAL sheet (new businesses) guaranty for a business loan they flow; • Lease details propose to provide a small business • Proposed Collateral • Owners and operators who are of their application consist of two parts. good character; Financial Statements that include: The applicant fills out SBA Form 1919 • Balance Sheet and Income • Feasible business plan; while the lender completes SBA Form Statement (P&L) for three • Management expertise and years (existing businesses) (Tax 1920. The Form 1919 is designed for commitment necessary for Returns usually suffice) the applicant to explain what they success; • Interim Financial Statements intend to do with the money and how • Sufficient funds, including dated within 180 days of the they will repay the loan. The Form (but not limited to) the SBA request for assistance 1920 requires the lender to explain guaranteed loan, to operate the • Schedule of term debts (existing their analysis of the eligibility and business on a sound financial businesses) credit merits of the request. basis (for new businesses, this • Aging of accounts receivable and When the request loan amount is includes the resources to meet payable (existing businesses) smaller (generally under $350,000) the start-up expenses and the initial lender is allowed to provide SBA with operating phase); • Adequate equity invested in the less information in their application How the 7(a) Program Works business; and for guaranty but that does not mean Small Business applicants submit • Enough collateral to fully secure their loan application to a lender for the applicant business can provide the loan or, all worthwhile the initial review. If the applicant is the lender with less information. available business collateral plus applying for their first business loan, The lender has the ability to ask the personal real estate if the loan it is recommended that the lender be applicant for as much detail as they cannot be fully secured. the lender who maintains the personal believe is necessary for them to make account of the owner(s). The lender their decision on the specific request. The Impact of a Credit Score will generally review the credit merits When the SBA receives a request SBA also credit scores every of the request before deciding if they for guaranty from a lender they will business that is a potential recipient of will make the loan themselves or if either re-analyze, review or trust the a loan guaranteed by SBA. If the loan they will need an SBA guaranty. If lender’s eligibility and credit analysis is for $350,000 or less, the credit score a guaranty is needed, the lender will before deciding to approve or reject obtained will have a significant impact also review the application for SBA the request. See the section on 7(a) on the amount of work the lender eligibility. The applicant should be Loan Processing from Lenders later on has to complete when applying for an prepared to complete some additional in this article for more detail on what SBA guaranty. As such it is important documents, if the only way the lender SBA does when it receives a request for any owner of a potential business can approve the loan is to obtain an for guaranty from the lender. loan to be aware of their credit score SBA guaranty. Applicants who feel By guaranteeing a loan, the SBA and correct any discrepancies prior to they need more help with the process assures the lender that, in the event approaching their lender. should contact their local SBA district the borrower does not repay the loan, office or one of the SBA’s resource the government will reimburse the partners for assistance. lending institution for a percentage of There are several ways a lender can the amount owed. By providing this request a 7(a) Guaranty for a proposed guaranty, the SBA is able to help tens

22 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny September 30, 2013) about 80 percent to add an additional spread to the base dollar amount of the loan. The guaranty of the dollars and 38 percent of the rate to arrive at the final rate. For fee is initially paid by the lender and number of all 7(a) loans guaranteed loans with maturities of less than seven then passed on to the borrower at by SBA were Basic 7(a) Loans. The years, the maximum spread will be no closing. The funds the business needs reciprocal percentages were divided more than 2.25 percent. For loans with to reimburse the lender can be included between the nine other 7(a) Programs. maturities of seven years or more, the in the overall loan proceeds. The Basic 7(a) Loan is a term loan maximum spread will be 2.75 percent. On any loan with a maturity of one usually repaid with one monthly The spread on loans under $50,000 year or less, the fee is just 0.25 percent payment of principal and interest. and loans processed through Express of the guaranteed portion of the loan. Interest only repayment periods are procedures have higher maximums. On loans with maturities of more than Most 7(a) term loans are repaid permitted when needed, such as for a one year, the normal guaranty fee is: with monthly payments of principal • 2.0 percent of the SBA guaranteed start-up business that doesn’t achieve and interest. For fixed-rate loans the portion on loans up to $150,000; ** breakeven in its initial months of payments stay the same because the • 3.0 percent on loans over $150,000 operation. Other repayment structures interest rate is constant. For variable but not more than $700,000; and are also permitted depending upon the rate loans the lender can change the • 3.5 percent on loans over $700,000. borrower’s needs and the flexibility of payment amount when the interest There is also an additional fee of the lender. rates change. Applicants can request 0.25 percent on any guaranteed A Basic 7(a) Loan does not revolve that the lender establish the loan with portion over $1 million. so the sum of the disbursements is interest-only payments during the start- CAPITAL the loan amount. SBA can guaranty up and expansion phases (when eligible) * All references to the prime rate revolving lines of credit, but that is to allow the business time to generate refer to the base rate in effect on the accomplished through some of the nine income before it starts making full loan first business day of the month the loan variations to the Basic 7(a) Loan. payments. application is received by the SBA. The following aspects of the Basic 7(a) ** For all SBA-guaranteed loans of Loan are also applicable to all other 7(a) Guaranty and Other Fees $150,000 or less that are approved Loan unless specifically referenced as Loans guaranteed by the SBA are between October 1, 2014 and September not applying to a specific Special 7(a) assessed a guaranty fee. This fee is 30, 2015, the guaranty fee will be 0%. Loan based on the loan’s maturity and the The lender may not charge a dollar amount guaranteed, not the total prepayment penalty if the loan is paid Percentage of Guarantees and Loan off before maturity but the SBA will Maximums SBA only guarantees a portion of any particular 7(a) loan so each loan will have an SBA share and an unguaranteed portion which gives the lender a certain amount of exposure and risk on each loan. The percentage of guaranty depends on either the dollar amount or the program the lender uses to obtain its guaranty. For loans of $150,000 or less the SBA generally guarantees as much as 85 percent and for loans over $150,000 the SBA generally provides a guaranty of up to 75 percent. The maximum dollar amount of a single 7(a) loan is $5 million and there is no minimum. The maximum dollar amount of the SBA share which can be provided to any one business (including affiliates) is $3,750,000. Interest Rates The actual interest rate for a 7(a) loan guaranteed by the SBA is negotiated between the applicant and lender but is subject to the SBA maximums. Both fixed and variable interest rate structures are available. The maximum rate comprises two parts, a base rate and an allowable spread. There are three acceptable base rates (Wall Street Journal Prime*, London Interbank One Month Prime plus 3 percent, and an SBA Peg Rate). Lenders are allowed

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 23 charge the borrower a prepayment fee principal owners of the business. Liens • Services — $2 million to $35.5 if the loan has a maturity of 15 or more on personal assets of the principals may million in average annual receipts years and is pre-paid during the first also be required. Loans under $25,000 • Retail Trades — $7 million to $35.5 three years. do not require collateral. million in average annual receipts • Construction — $7 million to $33.5 7(a) Loan Maturities Loan Structure million in average annual receipts The SBA’s loan programs are The structure of a Basic 7(a) Loan • Agriculture, Forestry, Fishing, generally intended to encourage longer is that repayment has to be set up so and Hunting — $750,000 to $17.5 term small-business financing, but the loan is paid in full by maturity. million in average annual receipts actual loan maturities are based on Over the term of the loan there can There is an alternate size standard the ability to repay, the purpose of the be additional payments or payment for businesses that do not qualify under loan proceeds and the useful life of the relaxation depending on what Is their industry size standards for SBA assets financed. Maturity generally happening with the business. Balloon funding. That Alternative is that the ranges from 7 to 10 years for working payments and call provisions are not applicant business (plus affiliates can’t capital, business start-ups, and business allowed on any 7(a) term loan. have a tangible net worth exceeding acquisition type loans, and up to 25 $15 million and average net income years if the purpose is to acquire real exceeding $5 million for the last two Eligibility years. This new alternate makes more estate or fixed assets with a long term 7(a) loan eligibility is based on a useful life. businesses eligible for SBA loans number of different factors, ranging and applies to SBA non-disaster loan from Size and Nature of Business to Collateral programs, namely its 7(a) Business Use of Proceeds and factors that are Loans and Certified Development The SBA expects every 7(a) loan case specific. to be secured first with the assets Company programs.

CAPITAL acquired with the loan proceeds and Size Eligibility Nature of Business then with additional business and The first eligibility factor is size, as The second eligibility factor is based personal assets, depending upon the all loan recipients must be classified as on the nature of the business and the loan amount and the way the lender “small” by the SBA. The size standards process by which it generates income or requests their guaranty. However, SBA for all 7(a) loans are outlined below. A the customers it serves. The SBA has will not decline a request to guaranty more in-depth listing of standards can general prohibitions against providing a loan if the only unfavorable factor be found at www.sba.gov/size. financial assistance to businesses is insufficient collateral, provided all SBA Size Standards have the following involved in such activities as lending, available collateral is offered. When general ranges: speculating, passive investment, the lender says they will need an • Manufacturing — from 500 to 1,500 pyramid sales, loan packaging, SBA guaranty, the applicant should employees presenting live performances of a be prepared for liens to be placed • Wholesale Trades — Up to 100 prurient nature, businesses involved in against all business assets. Personal employees gambling and any illegal activity. guaranties are required from all the The SBA also cannot make loan guaranties to non-profit businesses, SUCCESS STORY Anjolie Ayurveda’s Skincare Products continued from page 9

as small business owners through WEDC’s definitely advise other small business owners entrepreneurship grants through partnerships Business Opportunities and Success Strategies or entrepreneurs to find resources to help with various organizations. Program. The program, also known as BOSS, them out like WEDC or the Business Outreach helps business owners focus on business Center Network.” “The true success of a small business owner strategies and methods to position their and entrepreneur is not only in how they businesses for growth and sustainability, and Anjolie Ayurveda developed its “Anjolie” manage their business, but also in how they help plan for both short and long term goals. namesake from Meryl’s middle name, whose give back to the small business community Sanskrit meaning is “Divine Offering.” and contribute to the lives of those who WEDC Executive Director Anne M. Janiak have helped them along the way,” said SBA stated that, “Cary and Meryl Gabeler are truly “We see Anjolie Ayurveda as, ‘our divine New York Acting District Director Adalberto inspirational WEDC graduates. They took offering to you,’ and in addition to our Quijada. advantage of a variety of our business training products that are handmade in India under and financing programs to help grow their fair trade practices, we also help contribute Currently Anjolie Ayurveda’s products are profitable and socially conscious company. to and empower the local employees in India in over 300 stores across the nation to include The success of Anjolie Ayurveda clearly who help make our business possible,” said Whole Foods in the northeast region. They demonstrates the importance of supporting Meryl. also received an $18,000 microloan from the the growth of women-owned businesses.” WEDC Microloan program, a collaboration Anjolie Ayurveda helps provide education with the Business Outreach Center, which has “The counseling and coaching we’ve received to the children of their employees due to helped them launch a new line of perfumes from WEDC even after the training classes the lack of a public school system in India, made in the USA, expand their inventory, and are completed have made us feel very lucky and additionally they work to support increase their product lines. to have them as resources,” said Meryl. “I women entrepreneurship by providing

24 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny private clubs that limit membership on • The owners must be of good 7(a) loan. Lenders can advise you of any a basis other than capacity, businesses character and reputation; and variations. The Special Purpose Loans that promote a religion, businesses • All loans must be so sound as to include: owned by individuals incarcerated or reasonably assure repayment. on probation or parole, municipalities, For more information, go to International Trade Loan Program and situations where the business or www.sba.gov/apply. The SBA’s International Trade its owners previously failed to repay Loan (ITL) is designed to help a federal loan or federally assisted small businesses enter and expand financing, or are delinquent on existing SPECIAL PURPOSE into international markets or, federal debt. 7(a) LOAN PROGRAMS when adversely affected by import The 7(a) loan program is the most competition, to make the investments Use of Proceeds flexible of the SBA’s lending programs. necessary to better compete. The ITL The third eligibility factor is Use of Over time, the Agency has developed offers a combination of fixed asset, Proceeds. A Basic 7(a) Loan can provide several variations of the Basic 7(a) Loan working capital financing and debt proceeds to purchase machinery, refinancing with the SBA’s maximum in order to address specific financing equipment, fixtures, supplies, and guaranty--90 percent--on the total loan needs for particular types of small to make improvements to land and/ amount. The maximum loan amount is businesses or to give the lender greater or buildings that will be occupied $5 million. flexibility with the loan’s structure. by the subject applicant business. The general distinguishing feature Guaranty Coverage

CAPITAL between these loan types is their use The SBA can guaranty up to 90 Proceeds can also be used to: of proceeds. These programs allow the percent of an ITL up to a maximum • Expand or renovate facilities; proceeds to be used in ways that are of $4.5 million, less the amount of • Acquire machinery, equipment, the guaranteed portion of other SBA furniture, fixtures and leasehold not otherwise permitted in a basic 7(a) loans outstanding to the borrower. The improvements; loan. These special purpose programs maximum guaranty for any working • Acquire businesses; are not necessarily for all businesses capital component of an ITL is limited • Start businesses; but may be very useful to some small to $4 million. Any other working capital • Permant Working Capital businesses. They are generally SBA loans that the borrower has are Acquire Land and Build a Location governed by the same rules, regulations, counted against the $4 million guaranty for the applicant business; and fees, interest rates, etc., as the basic limit. • Refinance existing debt under certain conditions.

SBA 7(a) loan proceeds cannot be used: 1. For the purpose of making investments. 2. To provide funds to any of the owners of the business except for ordinary compensation for actual services provided. 3. For Floor Plan Financing 4. For a purpose that does not benefit the business

Miscellaneous Factors The fourth factor involves a variety of requirements such as SBA’s credit elsewhere test where the personal resources of the owners need to be checked to see if they can make a contribution before getting a loan guaranteed by the SBA. It also includes the SBA’s anti-discrimination rules and limitations on lending to agricultural enterprises because there are other agencies of the Federal government with programs to fund such businesses. Generally, SBA loans must meet the following criteria: • Every loan must be for a sound business purpose; • There must be sufficient invested equity in the business so it can operate on a sound financial basis; • There must be a potential for long- term success;

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 25 Use of Proceeds • Additional collateral, including Use of Proceeds • For the facilities and equipment personal guaranties and those • To pay for the manufacturing costs portion of the loan, proceeds may be assets not financed with ITL of goods for export. used to acquire, construct, renovate, proceeds, may be appropriate. • To purchase goods or services for modernize, improve or expand A small business wanting to qualify export. facilities or equipment in the as adversely impacted from import • To support standby letters of credit U.S. to produce goods or services competition must submit supporting to act as bid or performance bonds. involved in international trade, documentation that explains the • To finance foreign accounts including expansion due to bringing impact, and a plan with projections receivable. production back from overseas if that explains how the loan will the borrower exports to at least one improve the business’ competitive Interest Rates market. position. The SBA does not establish or • Working capital is an allowable use subsidize interest rates on loans. The of proceeds under the ITL. Export Working Capital Program interest rate can be fixed or variable • Proceeds may be used for the The SBA’s Export Working Capital and is negotiated between the borrower refinancing of debt not structured Program (EWCP) assists businesses and the participating lender. on reasonable terms and conditions, exporters in meeting their short- including any debt that qualifies for term export working capital needs. Advance Rates refinancing under the standard SBA Exporters can use the proceeds to make • Up to 90 percent on purchase 7(a) Loan Program. the products they will be exporting. orders. They can also apply for such lines of • Up to 90 percent on documentary Loan Term credit prior to finalizing an export letters of credit. • Maturities on the working capital sale or contract. With an approved • Up to 90 percent on foreign portion of the ITL are typically EWCP loan in place, exporters have accounts receivable. limited to 10 years. CAPITAL greater flexibility in negotiating • Up to 75 percent on eligible foreign • Maturities of up to 10 years on export payment terms—secure in the inventory located within the U.S. equipment unless the useful life assurance that adequate financing will • In all cases, not to exceed the exceeds 10 years. be in place when the export order is exporter’s costs. • Maturities of up to 25 years are won. available for real estate. Collateral Requirements • Loans with a mixed use of fixed- Benefits of the EWCP The export-related inventory and the asset and working-capital financing • Financing for suppliers, inventory receivables generated by the export will have a blended-average or production of export goods. sales financed with EWCP funds maturity. • Export working capital during long generally will be considered adequate payment cycles. collateral. The SBA requires the Exporter Eligibility • Financing for stand-by letters of personal guarantee of owners with 20 • Applicants must meet the same credit used as bid or performance percent or more ownership. eligibility requirements as for the bonds or advance payment SBA’s standard 7(a) Loan Program. guarantees. • Applicants must also establish that • Reserves domestic working capital How to apply the loan will allow the business to for the company’s sales within the Application is made directly to SBA- expand or develop an export market U.S. participating lenders. Businesses are or, demonstrate that the business • Permits increased global encouraged to contact SBA staff at their has been adversely affected by competitiveness by allowing the local U.S. Export Assistance Center import competition and that the ITL exporter to extend more liberal sales (USEAC) to discuss whether they are will allow the business to improve terms. eligible for the EWCP and whether it is its competitive position. • Increases sales prospects in under- the appropriate tool to meet their export developed markets which may have financing needs. Participating lenders Foreign Buyer Eligibility high capital costs for importers. review/approve the application and Foreign buyers must be located in • Low fees and quick processing submit the guaranty request to SBA those countries where the Export- times. staff at the local USEAC. Import Bank of the U.S. is not prohibited from providing financial Guaranty Coverage CAPLines assistance. • Maximum loan amount is The CAPLines program for loans $5,000,000. up to $5 million is designed to help Collateral Requirements • 90 percent of principal and accrued small businesses meet their short- • Only collateral located in the interest up to 120 days. term and cyclical working capital U.S. (including its territories and • Low guaranty fee of one-quarter needs. The programs can be used to possessions) is acceptable. of one percent of the guaranteed finance seasonal working capital needs; • First lien on property or equipment portion for loans with maturities of finance the direct costs of performing financed by the ITL or on other 12 months or less. certain construction, service and supply assets of the business is required. • Loan maturities are generally for 12 contracts, subcontracts, or purchase However, an ITL can be secured months or less, but can be up to a orders; finance the direct cost associated by a second lien position if the maximum of 36 months. with commercial and residential SBA determines there is adequate construction; or provide general working assurance of loan repayment. capital lines of credit. The maturity can be for up to 10 years except for

26 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny the Builders Capline which is limited borrower’s accounts receivable and/ meet their needs they should discuss to 36 months after the first structure or inventory. Repayment comes their options with a lender capable of is completed. Guaranty percentages from the collection of accounts providing an SBAExpress loan with an are the same as for a Basic 7(a) Loan. receivable or sale of inventory. The SBA guaranty. There are four distinct short term loan specific structure is negotiated with programs under the CAPLine umbrella: the lender. There may be extra SBAExpress • The Contract Loan Program is servicing and monitoring of the The SBAExpress Loan or Line of used to finance the cost associated collateral for which the lender can Credit is a flexible smaller loan up with contracts, subcontracts, or charge up to 2 percent annually to to $350,000 that a designated lender purchase orders. Proceeds can be the borrower. can provide to its borrower using disbursed before the work begins. If mostly their own forms, analysis and used for one contract or subcontract, Other Guaranty Lines of Credit procedures to process, structure, service, it is generally not revolving; if All the Special Purpose Programs and disburse this SBA-guaranteed used for more than one contract listed above have SBA structured loan. When structured as a term loan or subcontract at a time, it can be repayment terms meaning the Agency the proceeds and maturity are the revolving. The loan maturity is tells the lender how principal and same as a Basic 7(a) Loan. When usually based on the length of the interest is to be repaid. These programs structured as a revolving line of credit contract, but no more than 10 years. also require the lender to use certain the requirements for the payment Contract payments are generally closing forms. Lenders with the ability of interest and principal are at the sent directly to the lender but to obtain 7(a) guarantees through any discretion of the lender and maturity CAPITAL alternative structures are available. of the Express processes are considered can’t exceed 7 years. • The Seasonal Line of Credit experienced enough to be able to Program is used to support buildup of inventory, accounts structure their own repayment terms Export Express receivable or labor and materials and use their own closing documents. SBA’s Export Express loans offers above normal usage for seasonal With this ability the lender can tailor flexibility and ease of use for both inventory. The business must have a line of credit that it gets guaranteed borrowers and lenders on loans up to been in business for a period of 12 by SBA to the needs of the business. $500,000. It is the simplest export loan months and must have a definite Therefore, if a potential applicant sees product offered by the SBA. established seasonal pattern. The that the previously listed Basic 7(a) or loan may be used over again after Special Purpose 7(a) Programs don’t a “clean-up” period of 30 days to finance activity for a new season. These loans also may have a maturity of up to five years. The business may not have another seasonal line of credit outstanding but may have other lines for non- seasonal working capital needs. • The Builders Line Program provides financing for small contractors or developers to construct or rehabilitate residential or commercial property. Loan maturity is generally three years but can be extended up to five years, if necessary, to facilitate sale of the property. Proceeds are used solely for direct expenses of acquisition, immediate construction and/or significant rehabilitation of the residential or commercial structures. The purchase of the land can be included if it does not exceed 20 percent of the loan proceeds. Up to 5 percent of the proceeds can be used for physical improvements that benefit the property. • The Working Capital Line Program is a revolving line of credit (up to $5,000,000) that provides short term working capital. These lines are generally used by businesses that provide credit to their customers, or whose principle asset is inventory. Disbursements are generally based on the size of a

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 27 Use of Proceeds 4. Explanation of the collateral used to Loan proceeds may be used for 7(a) LOAN PROCESSES FOR secure the loan and the adequacy of business purposes that will enhance a LENDERS the proposed collateral; company’s export development. Export There are various procedures for 5. Lender’s credit history with Express can take the form of a term lenders to follow when they apply applicant including an explanation loan or a revolving line of credit. As to SBA for a 7(a) guaranty. Some of any weaknesses; an example, proceeds can be used to are designed for experienced lenders 6. Current financial statements and fund participation in a foreign trade who are fully committed to providing pro-forma financial spread. SBA show, finance standby letters of credit, business loans guaranteed by SBA to pro-forma analysis reflects how translate product literature for use in their clientele that need them, while the business will look immediately foreign markets, finance specific export others are designed for lenders with following disbursement, not one orders, as well as to finance expansions, limited experience or when there are year after disbursement. equipment purchases, and inventory or certain issues that require SBA to SBA also expects that the lender’s real estate acquisitions, etc. thoroughly review the situation. The credit memo includes the intended foundational process is called the use of the loan proceeds and any Ineligible Use of Proceeds Standard Loan Guaranty Process and it historical and current issues that Proceeds may not be used to finance is used by lenders to request a guaranty require explanation. SBA also expects overseas operations other than those from SBA when they are new to SBA a discussion of the process by which the strictly associated with the marketing lending or the request requires an SBA applicant business generates its income and/or distribution of products/services review. Other methods of processing when it is not immediately obvious. exported from the U.S. have less requirements for SBA but An explanation of how the business more for the lender and the determining conducts its operation is also expected. Interest Rates factors on which one a lender will use SBA has three days to screen Terms are negotiated between the depends on the experience of the lender and 10 days to process the request

CAPITAL borrower and lender but interest rates in dealing with SBA, the complexity of for guaranty from the lender. Any the case, the purpose of the loan, and may not exceed Prime plus 4.5 percent additional time a lender takes to make the dollar amount being requested. on loans over $50,000 and Prime plus their determination prior to requesting 6.5 percent on loans of $50,000 or less. a guaranty from SBA will add to the Standard 7(a) Loan Processing length of time to reach a final decision. Exporter Eligibility After the applicant business and If the guaranty is approved, SBA will Any business that has been in lender complete their required prepare a loan authorization outlining operation, although not necessarily in documents, the lender makes the terms and conditions under which exporting, for at least 12 full months application to SBA for a guaranty the guaranty is provided and prepare an and can demonstrate that the loan by submitting them to SBA’s Loan approval letter for transmission to the proceeds will support its export Guaranty Processing Center. The lender. activity is eligible for Export Express. center will screen the application and, if The one year in business operations satisfactory complete a thorough review of both eligibility and creditworthiness Certified Processing requirement can be waived if the SBA has a Certified Lenders Program applicant can demonstrate previous before making the decision to approve the issuance of a guaranty as submitted, (CLP) which lenders with more successful business experience and experience and commitment to SBA exporting expertise and the lender does approve with modifications (which will be discussed with the lender), or lender can obtain which allows them conventional underwriting, not relying to request a 7(a) guaranty through a solely on credit scoring. reject the request. When the lender makes application to SBA, they have process similar to the Standard process except the SBA will only review the Foreign Buyer Eligibility already internally agreed to approve the recommended loan to the applicant lenders request rather than re-analyze. The exporter’s foreign buyer must be if, and only if, the SBA provides a a creditworthy entity and not located guaranty. Preferred Processing in countries prohibited for financial Standard processing means a lender SBA has a Preferred Lenders support on the Export-Import Bank’s makes their request for guaranty using Program (PLP) designed for lenders Country Limitation Schedule and the SBA Form 1920 and the applicant who have been delegated the authority methods of payment must be acceptable completes SBA Form 1919, even if the to make both the eligibility and credit to the SBA and the SBA lender. applicant previously completed the decisions without a second look by lender’s required application forms. SBA. This process is used by the most How to Apply The analysis of eligibility starts with a experienced lenders who have the Interested businesses should contact review of the “Eligibility Questionnaire,” most dedicated staffs ready to review their existing lender to determine completed by the lender. The analysis requests for financial assistance from if they are an SBA Export Express of credit starts with a review of the existing and potential customers in lender. Application is made directly SBA Form 1920 and the lender’s credit order to see if they need to become SBA to the lender. Lenders use their own memo which must discuss at least six guaranteed loans. application material in addition to elements: SBA’s Borrower Information Form. 1. Balance sheet and ratio analysis; SBAExpress Processing Lenders’ approved requests are then 2. Analysis of repayment. It is not The SBAExpress guaranty is submitted with a limited amount of acceptable to base repayment ability available to lenders as a way to obtain eligibility information to SBA’s National solely on the applicant’s credit score. a guaranty on smaller loans up to Loan Processing Center for review. 3. Assessment of the management $350,000. The program authorizes skills of the applicant; select, experienced lenders to use

28 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny mostly their own forms, analysis and U.S. Export Assistance Centers Community Advantage Loans procedures to process, structure, service, SBA trade finance specialists are The Community Advantage Pilot and disburse SBA-guaranteed loans. located in 19 U.S. Export Assistance Program is aimed at helping businesses The SBA guarantees up to 50 percent Centers throughout the U.S., which located in underserved communities of an SBAExpress loan. Loans under also are staffed by U.S. Department gain access to capital by opening up 7(a) $25,000 do not require collateral. The of Commerce and, in some locations, lending to mission-focused, community- use of proceeds for a term loan is the Export-Import Bank of the U.S. based lenders — such as Community same as for any Basic 7(a) Loan. Like personnel, providing trade promotion Development Financial Institutions most 7(a) loans, maturities are usually (CDFIs), Certified Development five to seven years for working capital and export-finance assistance in a single location. The USEACs also Companies (CDCs), and microlenders. and up to 25 years for real estate or These lenders provide technical work closely with other federal, equipment. Revolving lines of credit are assistance and economic development allowed for a maximum of seven years. state and local international trade support to businesses located in organizations to provide assistance to underserved markets. Export Express Processing small businesses. To find your nearest The application process is the same SBA Export Express offers USEAC, visit: http://www.sba.gov/content/ as for a Basic 7(a) Loan. The main flexibility and ease of use for lenders. us-export-assistance-centers. You can difference with this program from Participating lenders may use their find additional export training and other SBA 7(a) loan programs is the own forms, procedures and analyses. counseling opportunities by contacting lender who ultimately provides the loan

The SBA provides the lender with a your local SBA district office. funds is not a traditional SBA lender. CAPITAL response within 36 hours. This loan is Toni Corsini, Regional Manager Visit: www.sba.gov/advantage for more subject to the same loan processing, information about this program. closing, servicing and liquidation SBA Office of International Trade U.S. Export Assistance Center requirements as for other similar-sized Ted Weiss Federal Bldg. CERTIFIED DEVELOPMENT SBA loans. 290 Broadway, Ste. 1312 New York, NY 10007 COMPANY LOAN PROGRAM Guaranty Coverage 212-809-2645 The SBA provides lenders with a [email protected] (504 LOANS) 90 percent guaranty on loans up to www.sba.gov/international The 504 Loan program is an economic $350,000 and a 75 percent guaranty on development program that supports loans between $350,001 and $500,000. American small business growth and

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 29 helps communities through business percent is needed if the business expansion and job creation. The 504 is a start-up or new (less than two MICROLOAN PROGRAM loan program provides long-term, fixed- years old), and a further injection (LOANS UP TO $50,000) rate, subordinate mortgage financing of 5 percent is also required if the The Microloan program provides for acquisition and/or renovation of primary collateral will be a single- very small loans (up to $50,000) to capital assets including land, buildings purpose building (such as a hotel). women, low-income, minority, veteran, and equipment. Some refinancing is • Two-tiered project financing: A and other small business owners also permitted. Most for-profit small lender finances approximately through a network of more than 100 50 percent of the project cost and businesses are eligible for this program. Intermediaries nationwide. Under receives a first lien on the project The types of businesses excluded from assets (but no SBA guaranty); A this program, the SBA makes funds 7(a) loans (listed previously) are also CDC (backed by a 100 percent available to nonprofit intermediaries excluded from the 504 loan program. SBA-guaranteed debenture) that, in turn, make the small loans The SBA’s 504 Certified Development finances up to 40 percent of the directly to start-up and existing Companies (CDC) serve their project costs secured with a junior businesses. Entrepreneurs work directly communities by financing business lien. The borrower provides the with the Intermediaries to receive expansion needs. Their professional balance of the project costs. financing, and business knowledge staff works directly with borrowers to • Fixed interest rate on SBA support. The proceeds of a microloan tailor a financing package that meets loan. The SBA guarantees can be used for working capital, or the program guidelines and the credit the debenture 100 percent. purchase of furniture, fixtures, supplies, capacity of the borrower’s business. Debentures are sold in pools materials, and/or equipment. Microloans CDCs work with banks and other monthly to private investors. This may not be used for the purchase of real lenders to make loans in first position low, fixed rate is then passed on to estate. Interest rates are negotiated on reasonable terms, helping lenders the borrower and establishes the between the borrower and the retain growing customers and provide basis for the loan rate. Intermediary. The maximum term for CAPITAL • All project-related costs can be Community Reinvestment Act credit. a microloan is six years. Because funds financed, including acquisition The SBA 504 loan is distinguished are borrowed from the Intermediary, (land and building, land and from the SBA 7(a) loan program in construction of building, SBA is not involved in the business loan these ways: renovations, machinery and application or approval process. And, The maximum debenture, or long-term equipment) and soft costs, such payments are made directly from the loan, is: as title insurance and appraisals. small business to the Intermediary. • $5 million for businesses that create Some closing costs may be The program also provides business- a certain number of jobs or improve financed. based training and technical assistance the local economy; • Collateral is typically a to micro-borrowers and potential micro- • $5 million for businesses that subordinate lien on the assets borrowers to help them successfully meet a specific public policy goal, financed; allows other assets to start or grow their businesses. Such including loans for aiding rural be free of liens and available to training and technical assistance may development and expansion of small secure other needed financing. businesses owned by veterans, include general business education, • Long-term real estate loans are up women, and minorities; and assistance with business planning, to 20-year term, heavy equipment • $5.5 million for manufacturers and industry-specific training, and other 10- or 20-year term and are self- energy related public policy projects. types of training support. amortizing. Recent additions to the program Entrepreneurs and small business Businesses that receive 504 loans are: allow $5.5 million for each project owners interested in small amounts • Small — net worth under $15 that reduces the borrower’s energy of business financing should contact million, net profit after taxes under consumption by at least 10 percent; $5 million, or meet other SBA size the nearest SBA district office for and $5.5 million for each project that standards. information about the nearest Microloan generates renewable energy fuels, such • Organized for-profit. Program Intermediary Lender or go to as biodiesel or ethanol production. • Most types of business — retail, www.sba.gov/microloans. Projects eligible for up to $5.5 million service, wholesale or manufacturing. under one of these two requirements For information, visit ACCION USA, Inc. do not have to meet the job creation or Ana Hammock, Director Lender Relations . retention requirement, so long as the www.sba.gov/504 80 Maiden Ln., Ste. 903 CDC portfolio reflects an average jobs to New York, NY 10038 debenture portfolio ratio of at least 1 job Business Initiative Corporation 617-684-0215 per $65,000. of New York [email protected] 851 Grand Concourse, Ste. 123 www.accionusa.org • Eligible project costs are limited Bronx, NY 10451-2937 to long-term, fixed assets such 718-590-3980 as land and building (occupied Exceed Network [email protected] (formally known as Angel Fund) by the borrower) and substantial www.boedc.com machinery and equipment. Joanne Grazi, Director 379 Kings Hwy. • Most borrowers are required Empire State Certified Development Brooklyn, NY 11223 to make an injection (borrower Corp. 718-787-1400 ext. 15 contribution) of just 10 percent 50 Beaver St., Ste 600 [email protected] which allows the business to Albany, NY 12207 www.exceednetwork.org conserve valuable operating 800-923-2504 capital. A further injection of 5 [email protected] www.nybdc.com

30 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny BOC Capital Corp. Federal contracts, SBA can guarantee American Contractor Indemnity Company Hector Davis, Senior Lending Officer bonds on contracts up to $10 million, if Suraya Bernard 85 S. Oxford St. the contracting officer certifies that a 600 Lexington Ave., 22nd Fl. Brooklyn, NY 11217 guarantee would be in the best interest New York, NY 10022 718-624-9115 of the Government. 212-326-9349 [email protected] SBA has two program components, [email protected] www.bocnet.org the Prior Approval Program and the Atlynx Surety Brokers, LLC Preferred Surety Bond Program. In Denese Thompson Center for Community Development for the Prior Approval Program, the SBA New Americans 777 Zeckendorf Blvd. Yanki Tshering, Executive Director guarantees 90 percent of surety’s paid Garden City, NY 11530 120 Broadway, Ste. 230 losses and expenses on bonded contracts 516-745-7520 New York, NY 10271 up to $100,000, and on bonded contracts [email protected] 212-898-4112 greater than $100,000 that are www.atlynx.com [email protected] awarded to socially and economically www.nybcna.org disadvantaged concerns, HUBZone City Underwriting Agency, Inc. William F. Maroney contractors, and veterans, and 2001 Marcus Ave., Ste. W180 Community Capital New York service-disabled veteran-owned small Lake Success, NY 11042 Simone Obermaier, Executive Director Small businesses. All other bonds guaranteed 516-358-3500 Business Lending and Support in the Prior Approval Program receive [email protected] 7 W. Cross St., Ste. D an 80 percent guarantee. Sureties must Hawthorne, NY 10532 obtain the SBA’s prior approval for 914-747-8020 ext. 10 KOG International, Inc. each bond guarantee issued. Under the Kenneth Turner [email protected] 701 Rte. 73 S., Ste. C-2 www.ccrhv.org Preferred Program, the SBA guarantees 70 percent, and sureties may issue, West Berlin, NJ 08091 monitor and service bonds without the Licensed in NY, PA, NJ & DE Renaissance Economic Development Corp. 610-690-0804 Fernando Aguilar, Business Counselor SBA’s prior approval. Small businesses, [email protected] 2 Allen St., 7th Fl. surety companies, and bond producers www.kogbonds.com New York, NY 10002 are invited to visit our website at 212-964-6022 www.sba.gov/osg. You may also call the [email protected] program office at 202-205-6545. www.renaissance-ny.org

Washington Heights and Inwood Development Corp. Dennis C. Reeder, Executive Director 57 Wadsworth Ave. New York, NY 10033 212-795-1600 [email protected] www.whidc.org SURETY BOND GUARANTEE PROGRAM The Surety Bond Guarantee Program is a public-private partnership between the Federal government and surety companies to provide small businesses with the bonding assistance necessary for them to compete for public and private contracting and subcontracting opportunities. The guarantee provides an incentive for sureties to bond small businesses that would otherwise be unable to obtain bonding. The program is aimed at small businesses that lack the working capital or performance track record necessary to secure bonding on a reasonable basis through regular commercial channels. Through this program, the SBA guarantees bid, payment, performance and ancillary bonds issued by surety companies for individual contracts and subcontracts up to $6.5 million. The SBA reimburses sureties between 70 and 90 percent of losses sustained if a contractor defaults on the contract. On

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 31 Northeast Surety, LLC potential and provides the incentive to 9. If a trust owns all or part of the Ken Morotto, Jr. profit from its commercialization. By concern, each trustee and trust 3 Forest Park Dr. including qualified small businesses beneficiary is considered an owner. Farmington, CT 06032 in the nation’s R&D arena, high-tech 10. Phase I awardees with multiple 860-674-0123 innovation is stimulated and the United prior awards must meet the [email protected] benchmark requirements for www.nesurety.com States gains entrepreneurial spirit as it meets its specific research and progress toward commercialization.

Petropole Insurance Agency development needs. Thomas A. Petropole SBIR-Participating Agencies 8601 4th Ave. SBIR Program Eligibility Each year, Federal agencies with Brooklyn, NY 11209 Only United States small businesses extramural research and development 718-680-3777 are eligible to participate in the SBIR (R&D) budgets that exceed $100 million [email protected] program. An SBIR awardee must meet are required to reserve 2.9% (FY 15) the following criteria at the time of of the extramural research budget SMALL BUSINESS Phase I and II awards: for SBIR awards to small businesses. 1. Organized for profit, with a place These agencies designate R&D topics INVESTMENT COMPANY of business located in the United and accept proposals. Currently, eleven PROGRAM States; agencies participate in the SBIR The Small Business Investment 2. No more than 500 employees, program: Company (SBIC) program is a multi- including affiliates; • Department of Agriculture billion dollar program founded in 1958, 3. Be a concern which is more than • Department of Commerce - as one of many financial assistance 50% directly owned and controlled National Institute of Standards and programs available through the U.S. by one or more individuals (who Technology Small Business Administration. The are citizens or permanent resident • Department of Commerce -

CAPITAL National Oceanic and Atmospheric structure of the program is unique in aliens of the United States), Administration that SBICs are privately owned and other small business concerns (each of which is more than 50% • Department of Defense managed investment funds, licensed directly owned and controlled by • Department of Education and regulated by SBA, that use their individuals who are citizens or • Department of Energy own capital plus funds borrowed with permanent resident aliens of the • Department of Health and Human an SBA guarantee to make equity United States), or any combination Services and debt investments in qualifying of these; • Department of Homeland Security small businesses. The funds raise 4. Be a concern which is more than • Department of Transportation private capital and can receive SBA- 50% owned by multiple venture • Environmental Protection Agency guaranteed leverage up to three times capital operating companies, hedge • National Aeronautics and Space private capital, with a leverage ceiling funds, private equity firms, or any Administration of $150 million per SBIC and $225 combination of these (for agencies • National Science Foundation million for two or more licenses under electing to use the authority in 15 For additional information visit common control. Licensed SBICs are U.S.C. 638(dd)(1)); or www.sbir.gov. for-profit investment firms whose 5. Be a joint venture in which each incentive is to share in the success entity to the joint venture must of a small business. The U.S. Small meet the requirements set forth in SMALL BUSINESS Business Administration does not invest paragraph (a)(1)(i) or (a)(1)(ii) of TECHNOLOGY TRANSFER directly into small business through the this section. A joint venture that SBIC Program, but provides funding includes one or more concerns PROGRAM Small Business Technology Transfer through SBA guarantee debentures that meet the requirements of (STTR) is another program that to qualified investment management paragraph (a)(1)(ii) of this section must comply with §121.705(b) expands funding opportunities in firms with expertise in certain sectors or concerning registration and the federal innovation research and industries. proposal requirements. development (R&D) arena. Central to 6. No single venture capital operating the program is expansion of the public/ THE SMALL BUSINESS company, hedge fund, or private private sector partnership to include equity firm may own more than the joint venture opportunities for INNOVATION RESEARCH 50% of the concern. small businesses and nonprofit research 7. For awards from agencies using the institutions. The unique feature of PROGRAM authority under 15 U.S.C. 638(dd) the STTR program is the requirement The Small Business Innovation (1), an awardee may be owned and for the small business to formally Research (SBIR) program is a highly controlled by more than one VC, collaborate with a research institution competitive program that encourages hedge fund, or private equity firm in Phase I and Phase II. STTR’s most domestic small businesses to engage so long as no one such firm owns a important role is to bridge the gap in Federal Research/Research and majority of the stock. between performance of basic science Development (R/R&D) that has the 8. If an Employee Stock Ownership and commercialization of resulting potential for commercialization. Plan owns all or part of the innovations. Through a competitive awards- concern, each stock trustee and based program, SBIR enables small plan member is considered an businesses to explore their technological owner.

32 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny STTR Program Eligibility Micro-entrepreneur Organizations Project Enterprise Only United States small businesses Micro-entrepreneur organizations 199 Lincoln Ave. are eligible to participate in the STTR assist low-income and very low-income Bronx, NY 10454 program. The small business must meet entrepreneurs with training and 917-819-3182 technical assistance to start, operate [email protected] all of the following criteria at time of www.projectenterprise.org award: and grow their businesses. • Organized for profit, with a place Bedford Stuyvesant Restoration South Bronx Overall Economic of business located in the United Development Corporation Development Corp. States; 1368 Fulton St. 555 Bergen Ave., 3rd Fl. • At least 51 percent owned Brooklyn, NY 11216 Bronx, NY 10455 and controlled by one or more 718-636-6900 718-292-3113 individuals who are citizens of, or www.restorationplaza.org www.sobro.org permanent resident aliens in, the United States, and; New York Women’s Workshop in Business Opportunities • No more than 500 employees, Chamber of Commerce 22 Cortlandt St., 16th Fl.. including affiliates. 1524 Amsterdam Ave. New York, NY 10007 212-684-0854 ext. 104 The nonprofit research institution New York, NY 10031 212-491-9640 www.wibo.org must also meet certain eligibility [email protected] criteria: www.nywcc.org • Located in the US CAPITAL • Meet one of three definitions: • Nonprofit college or university • Domestic nonprofit research organization • Federally funded R&D center (FFRDC) STTR differs from SBIR in three important aspects: 1. The SBC and its partnering institution are required to establish an intellectual property agreement detailing the allocation of intellectual property rights BUSINESS DIRECTORY and rights to carry out follow- on research, development or commercialization activities. 2. STTR requires that the SBC perform at least 40% of the R&D and the single partnering research institution to perform at least 30% of the R&D. 3. Unlike the SBIR program, STTR does not require the Principal Investigator to be primarily employed by the SBC.

STTR-Participating Agencies Each year, Federal agencies with extramural research and development (R&D) budgets that exceed $1 billion are required to reserve 0.40% (FY 15) of the extramural research budget for STTR awards to small businesses. These agencies designate R&D topics and accept proposals. Currently, five agencies participate in the STTR program: • Department of Defense • Department of Energy • Department of Health and Human Services • National Aeronautics and Space Administration • National Science Foundation For additional information visit www.sbir.gov.

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 33 SBA ONLINE: WEB-BASED TOOLS FOR BUSINESS OWNERS The old adage “time is money” is perhaps one of the most pertinent statements that you can apply to small business owners. Whether you’re starting a business or managing a growing one, entrepreneurs and business owners wear many hats and have many questions:

• What laws and regulations apply to my business? • How do I start to write a business plan? • Where can I get help with X, Y and Z?

Many of us invariably turn to our networks and the Internet to find details. SizeUp then runs various other resources including answers. But how can you trust that reports and provides maps and government contracting the information you are getting is truly data related to your competition, training courses, and guides applicable to your business and, let’s suppliers and customers. It also to help you register as a face it, even accurate? highlights potential advertising contractor. As part of its mission to help opportunities. 4. Events Calendar - Locate Business

CAPITAL business owners start, succeed and grow, SBA, through the SBA.gov 2. Build a Business Plan Tool Training and Seminars website has developed numerous Business planning can seem a SBA and its partners, including online tools and guides to help daunting task, but it doesn’t have Small Business Development small businesses get information to be that way. To help you plan Centers, Women’s Business and answers they need quickly and and steer your business, this new Centers, and SCORE, hold “Build a Business Plan” tool hundreds of small business efficiently. For example, these guides you through the process training seminars and workshops 10 Steps to Starting a Business of creating a basic, downloadable across the country. Until now, and these 10 Steps to Hiring your business plan. The great thing there was no single repository First Employee guides are essential about it is you can build a plan in for these events. Now, with reading. Then there are the Licenses smaller chunks of time, save your SBA’s Events Calendar, you and Permits Search Tool and the progress and return at your leisure. can quickly find and sign up for Loans and Grants Search Tool. training. Enter a date range and/ To use the tool, simply log into or zip code to locate events in your New Online Tools to Help Business Owners SBA.gov and enter information into area. Results are filtered by topic Plan, Manage and Grow a template for each section of the such as “starting a business,” Over the past couple of months, the business plan including, market “managing a business,” “business SBA has expanded its capacity and analysis, company description and planning,” and “financing a selection of tools and information that financial projections. The tool is business.” business owners need by developing secure and confidential and will a whole range of new online features! keep your plan on record for up Check them out: to six months. You can also save, download or email the plan at any 1. Get to Know Your Market and time. Competition Better with the SizeUp Tool Want to know how your business 3. Size Standards Tool - Find Out Fast if You stacks up against the competition? Qualify for Government Contracts Where your potential competitors In order to be eligible to sell to are located? Where the best places the government and compete are to advertise your business? for small business “set-aside” These are all critical inputs contracts, business owners had to for your business plan and can rummage through various rules also help back up any financing and matrices to find out if their applications. business is truly “small” according to SBA size standards. Now, Now with the new SizeUp tool you with this new Size Standards can crunch millions of data points Tool, you can follow three simple and get customizable reports and steps to cut through the guesswork statistics about your business and and quickly find out if you qualify its competition. Just enter your for government contracting industry, city, state and other opportunities. SBA also offers

34 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny

ACTIVE LENDERS

1st Constitution Bank East West Bank M&T Bank Shinhan Bank Amerasia Bank Empire State Bank Melrose Federal America Bank of America Financial Resources Credit Union Spring Bank BBCN Bank Federal Credit Union Neighborhood Trust Spirit of Texas Bank BCB Community First Niagara Bank Federal Credit Union Square 1 Bank Bank Flushing Bank NewBank Stearns Bank Bethpage Federal Grow America Fund, New Millennium Sterling National Credit Union Inc. Bank Bank Brooklyn Cooperative Habib American Bank New York Business TD Bank Federal Credit Union Hana Small Business Development Corp. The Provident Bank Capital One Bank Lending Newtek Small Teachers Federal Capital Source Bank Hanmi Bank Business Finance Credit Union Capitalspring SBLC HSBC Bank USA Noah Bank Trufund Financial Cathay Bank Hudson Valley Pacific City Bank Services, Inc.

SBA PARTICIPATING LENDERS SBA Celtic Bank Corp. Federal Credit Union Pacific Western Bank Unity Bank Certusbank Indus American Bank People’s United Bank Valley Economic Citibank, N.A. JPMorgan Chase Bank PNC Bank, N.A. Development Corp. Citizens Bank, N.A. Key Bank Popular Community Webster Bank City National Bank Live Oak Banking Co. Bank (formally Wells Fargo Bank Community National Loan Source Inc. Banco Popular) Wilshire State Bank Bank Lower Eastside Radius Bank Woori America Bank Compass Bank Peoples Federal Rhinebeck Bank Cross River Bank Credit Union Santander Bank

WEBSITES OF INTEREST • SBA Home Page at www.sba.gov • Register with the CCR • Women business owners offers a number of Internet services. (Central Contractor Registration) please review information at: You can get information on starting, by accessing the website: www.womenbiz.gov or financing and expanding your business. www.ccr.gov. Registration is mandatory www.women-21.gov to do business with the Department of • Official U.S. Internet gateway Defense. You will be assigned a TPIN • Department of Labor - www.dol.gov to all of government: www.usa.gov (trading partner identification number). • RENI Publishing • Affordable Care Act Health Insurance • TIN (Tax Identification No.) www.reni.net Marketplace www.healthcare.gov or EIN (Employers Identification No.) Small Business Resource information Check the Internal Revenue can be downloaded from this site. • Federal Acquisition Regulation (FAR) Service site: www.irs.gov/ for forms. www.arnet.gov/far. The FAR regulates • National toll free and other customer terms and conditions for most Federal • The Federal Government as a listing service federal government numbers solicitations and contracts. of a firm’s capacity is using NAICS frequently called by the public: (North American Industrial www.bp.fed.gov/america_anywhere/default.html • Find Business Opportunities Classification System) Codes. at: www.sba.gov/expanding/ and These codes and their size standards are • U.S. Government white pages directory: FedBizOpps at: www.fedbizopps.gov or located at: www.sba.gov/size/ http://directory.gov www.eps.gov. Federal agencies are mandated to advertise on this site. You • Veterans • Americans with Disabilities One-stop can download the solicitations that you please review information at: online access to resources, services and are interested in, register to receive www.sba.gov/vets, www.vetbiz.gov information available throughout the notification on changes to that and www.dol.gov/elaws/evets.htm Federal government for persons with solicitation and receive e-mails on types disabilities: www.disabilityinfo.gov of work that you are interested in “daily.”

36 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny Loan Programs for Businesses Ways borrowers can use the money (Information current as of 10/15/2014)

Program Who Qualifies Use of Proceeds Maturity Maximum Loan Structure Benefits to Amount Borrower Basic 7(a) For profit businesses Acquire land; purchase Based on the use A Basic 7(a) can be Term loans with one Business can that can meet SBA’s existing building; convert, of proceeds and for as much as $5 monthly payment of obtain financing size standards, expand or renovate borrower’s ability to million. SBA’s limit principal and interest not otherwise nature of business, buildings; construct repay. Not based on to any one business (P&I). Borrower available, fixed use of proceeds, new buildings; acquire collateral. Maximum is $3.75 million so contribution required. maturity, available credit elsewhere, and and install fixed assets; maturity: 10 years a business can Interest rate depends when collateral other miscellaneous acquire inventory; for working capital have multiple loans upon how lender applies is limited. Can eligibility factors. purchase supplies and (seven years is guaranteed by SBA for guaranty (see lender establish or re- raw materials; purchase a common), 10 years but the guaranteed program chart). Cannot affirm relationship business, start a business, for fixed assets, portion combined revolve, no balloon or with lender. leasehold improvements, 25 years for real cannot exceed call provisions. term working capital; and, estate. $3.75 million. under certain conditions, to refinance certain

outstanding debts CAPITAL International Same as Basic Acquire, renovate, Same as Basic 7(a). Same as Basic Same as Basic 7(a). Same as Basic Trade Loan 7(a), plus, business modernize facilities or 7(a), but when 7(a). Plus, long- (ITL) must be engaged or equipment used in making borrower has both term financing preparing to engage products or services to international trade for export-related in exporting or be be exported, plus, for and working capital fixed assets and adversely affected permanent working capital loans guaranteed by working capital. by competition from and to refinance business the SBA, the limit to imports. debts currently on any one business is unreasonable terms. $4 million. Export Same as Basic 7(a). Short-term working capital Can be up to a Gross loan amount Finance single or Provides U.S. Working Plus, must be in to cover the costs of filling maximum of 36 $5.0 million. SBA multiple transactions. exporters with a Capital Loan business one year export orders, including months but generally guaranteed portion Interest paid monthly, line of credit that (EWCP) and engaged or ability to support an Export 12 months or less. $4.5 million principal paid as can be separated preparing to engage Stand-By Letter of Credit. payments from items from domestic in exporting. shipped overseas operations line of are collected. Can be credit. renewed annually. Extra Can be used to fees apply. Percentage finance 100% of of guaranty up to 90%. the cost of filling Generally revolving. export orders. Seasonal Same as Basic 7(a). To finance the seasonal 10 years Same as Basic 7(a). Short-term financing for Provides CAPlines Plus, in business increases of accounts seasonal activities to be opportunity for at least one year receivable, inventory and repaid at the end of the for seasonal and can demonstrate labor. season when payment businesses to get seasonal financing for the seasonal activity seasonal financing needs. is made to business not otherwise available. Contract Same as Basic 7(a). To finance the cost of 10 years Same as Basic 7(a). Short-term financing Provides CAPlines Plus, will perform on one or more specific for performance of opportunity for contract or purchase contract, sub-contract, or approved contract, sub- contractors and order for some third- purchase order, including contract, or purchase sub-contractors party buyer. overhead or general and order to be repaid when to get financing administrative expenses, payment for the activity not otherwise allocable to the specific is made to business. available. contract(s). Can be revolving or not. Builders Same as Basic For the direct expenses Maximum of three Same as Basic 7(a). Short-term financing to Provides CAPlines 7(a). Plus, building/ related to the construction years to disburse and build or renovate home opportunity for renovating residential and/or “substantial” build or renovate. or building for sale to residential and or commercial renovation costs of specific Extension possible to unknown third party. commercial structure for re-sale residential or commercial accommodate sale. “Substantial” means builders to without knowing buildings for resale, rehabilitation expenses get financing buyer at time of including labor, supplies, of more than one-third not otherwise approval. materials, equipment of the purchase price or available. rental, direct fees. The fair market value at the cost of land is potentially time of application. Can eligible. be revolving or not.

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 37 Program Who Qualifies Use of Proceeds Maturity Maximum Loan Structure Benefits to Amount Borrower Working Same as Basic 7(a). For short-term working 10 years Same as Basic 7(a). Structured with Provides Capital Borrower should capital and operating requirements for opportunity for CAPlines sell on credit and/ needs, including to finance payment of principal businesses that or have inventory export sales. Proceeds tied to the businesses sell on credit to needing immediate must not be used to pay collection of payments get revolving replacement after delinquent withholding from their clientele financing not the sale. taxes or similar trust funds otherwise (state sales taxes, etc.) or available. for floor planning. Lender Businesses needing Working capital If revolving, seven- $350,000 Structure is established Has availability Structured a line of credit to year maximum, by individual lender. for a line of credit Domestic conduct credit in the including term out Lender must have SBA to help with short- Loan or Line USA. period. Express designation term cash needs of Credit of the business. Lender Businesses needing Working capital 70 percent If revolving, seven- $500,000 Structure is established Has availability structured a line of credit to of which is to be used year maximum, by individual lender. for a line of credit Export Loan support exporting to support exporting including term out Lender must have to help with short- or Line of activity. activities. period. Export Express term cash needs Credit designation of the business.

CAPITAL Non-7(a) Programs 504 Loan For-profit businesses Non-7(a) Programs Based on the use of The SBA portion of Loans packaged by Long-term Program that can meet For the acquisition of proceeds. Twenty the financing can Certified Development Treasury fixed the SBA’s size long-term fixed assets, years for real generally be up to Companies (CDC) and rates that are standards, nature equipment with a useful estate. Ten years $5.0 million but may designed to finance below market, of business, use life of at least 10 years; for machinery and be up to $5.5 million up to 40 percent of low borrower of proceeds, credit refinance loan-term fixed equipment. for manufacturing a “project”1 secured contribution only elsewhere, and asset debt under certain businesses or energy with a 2nd position 10 to 20 percent, other miscellaneous conditions; working capital saving public policy lien. Another loan from full amortization factors. under certain conditions; goals. a third party lender with no call or to reduce energy financing up to 50 balloon conditions. consumption; and to percent of the same upgrade renewable energy project secured in 1st resources. position, and borrower contribution of at least 10 percent. Extra contributions for special- purpose properties and new businesses. Microloan Same as Basic 7(a). Same as Basic 7(a). Shortest term Maximum $50,000 to The SBA provides a Direct loan Program Plus, nonprofit child- possible, not to the small business at loan to a nonprofit from nonprofit care businesses. exceed six years. any given time. micro-lender called an intermediary “intermediary” who uses lender, fixed-rate the proceeds to make financing, can microloans to small be very small businesses. Technical loan amounts, assistance can also be and technical provided. assistance is available.

1 “Project” is the purchase or lease, and/or improvement or renovation of long-term fixed assets by a small business, with 504 financing, for use in its business operations.

All SBA programs and services are extended to the public on a nondiscriminatory basis.

38 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny Lender’s Programs Chart Ways lenders can request guarantees (Information current as of 10/04/2014)

Program Which Lenders Types of Loans that Maximum Allowable Eligibility Analysis Credit Analysis Maximum Loan Processing Qualify can be Guaranteed Interest Rates Amount Standard Lenders that Basic 7(a). International Base rate is Wall Lender completes Lender to cover all Maximum loan Processing have an executed Trade, Export Working Street Journal prime, eligibility aspects of prudent credit $5 million. Loans participation Capital, all CAPlines. or LIBOR* one month questionnaire analysis with emphasis up to $150,000 agreement with the rate plus 3 percent, or and SBA reviews on applicant’s ability guaranteed up to SBA. SBA Peg rate. Plus, an eligibility during loan to repay loan from 85 percent; loans allowable spread from processing. operation. SBA conducts over $150,000 2.25 to 2.75 percent analysis of lender’s guaranteed up based on term. Lender analysis. to 75 percent. can add 2 percent if Business with loan is$25,000 or less, multiple SBA and 1 percent if loan is loans may get

$25,001 to $50,000. Can some variations. CAPITAL be fixed or variable. Certified Same as Standard Same as Standard 7(a) Same as Standard 7(a). Same as Standard Same as Standard 7(a) Maximum loan Lender 7(a). Plus, an processing except no 7(a). except SBA reviews $5 million. Program executed CLP policy exceptions. lender’s analysis work, Guaranty (CLP) agreement. not a re-analysis. percentage same Processing as Standard 7(a). Preferred Same as Standard Same as Standard Same as Standard 7(a). Lender completes Delegated to lender. Maximum loan Lender 7(a). Plus, an processing except Eligibility Checklist $5 million. Program executed PLP restrictions on loans (SBA Form 7). Guaranty (PLP) agreement. involving some types of percentage same Processing debt refinancing. as Standard 7(a). SBA Express Same as Standard Basic 7(a) with If $50,000 or less, Lender completes Delegated to lender. Maximum loan Processing 7(a). Plus, an restrictions on cannot exceed prime SBA Form $350,000. executed SBA some types of debt + 6.5 percent. If over 1920 “Eligibility Guaranty Express agreement. refinancing. Plus, lender $50,000, cannot exceed Information.” percentage structured term and prime + 4.5 percent. 50 percent. revolving loans. Prime may be lender prime. Export Same as Standard Similar to export If $50,000 or less, Lender completes Delegated to lender. Maximum loan Express 7(a). Plus, an working capital loan cannot exceed prime SBA Form $500,000. Processing executed Export and international trade + 6.5 percent. If over 1920 “Eligibility Guaranty Express agreement. loans which meet export $50,000, cannot exceed Information.” percentage range related eligibility criteria. prime + 4.5 percent. between 75 and Prime may be lender 90 percent. prime. Community Lenders that have an Basic 7(a) except Prime + 6 percent. Lenders complete Similar to Standard 7(a) Maximum loan Advantage executed Community restrictions on some SBA Form 1920 except credit factors $250,000. Advantage types of refinancing. “Eligibility to consider are more Guaranty agreement. Information.” defined. percentage same as Standard 7(a).

• London InterBank Offered Rate

All SBA programs and services are extended to the public on a nondiscriminatory basis.

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 39 FEATURE first into the business without any prior experience, first intothe businesswithoutanyprior experience, Washington, forexample. Insteadofjumpinghead Take thestoryof resource partnersareavailable tohelpalongtheway. his orhersmallbusinessjourney, andSBAits contracting program.Eachsmallbusinessownerhas SBA-guaranteed loanorasmallbusinessgovernment SBA districtofficeorresourcepartnertoapplyfor an in between,theymayhaveworkedwiththeirlocal owner atSCOREmanyyearslater.Atanypoint seek mentorshipassistancefromaretiredbusiness a trainingcourseoreducationalseriesatWBC,and SBDC forabusinessplanduringtheirstartup,attend resource partnernetwork.Theymayworkwithan we profileare“repeatcustomers”ofSBAandour is whymanyofthesmallbusinesssuccessstories lives, andso,too,itiswithasmallbusiness.This We allneeddifferentthingsatpointsinour training, counselingandentrepreneurialeducation. but allprovideoutstandingindividualconsulting, specific areasofexpertiseorcatertocertainaudiences, entrepreneurship needs.Someresourcepartnershave available toassistyouwithyoursmallbusinessand each resourcepartneroperatesdifferently,theyareall Office ofVeteransBusinessDevelopment.Although Centers throughcooperativeagreementswithSBA’s 16 organizationsserveasVeteransBusinessOutreach and WomenBusinessCenters(WBC).Inaddition, SCORE, SmallBusinessDevelopmentCenters(SBDC) SBA’s resourcepartnernetworkiscomprisedof jobs. companies, andcreateand/orsavemorethan68,000 $4.5 billionincapitalinfusion,startover15,000new those effortshelpedsmallbusinessesgetmorethan outreach capacitytwentyfold.Infiscalyear2013, our vastnetworkofresourcepartnersexpands Offices throughoutthecountryanditsterritories, With approximately86SBADistrictandBranch owner withouttheassistanceofourresourcepartners. serve everyaspiringentrepreneurandsmallbusiness resource guide,youalreadyknowthatSBAcouldn’t As you’velikelyreadtheCounselingSectionofthis 40 —NewYork SmallBusinessResource Resource Partner Network Network Partner Resource Making the Most of SBA’s SBA’s of Most the Making Janell’s Gluten-FreeMarket by Paula Panissidi, SBA’s Director of Marketing of Director SBA’s Panissidi, Paula by in Everett, inEverett, WBC, who helped her develop a business expansion WBC, whohelpedherdevelopabusinessexpansion a secondlocationandreachedoutagaintothe each successiveyear,Farnsworthconsideredopening doors in2009.Earningtop-linerevenueandprofits and running,the1,200square-footshopopenedits help hertargeteffortsingettingthemarketup receiving freecounselingandlow-costclassesto the two,dependingonherimmediateneed.After it easyforFarnsworthtogobackandforthbetween SBA resourcepartnersareco-located,whichmade Outreach Center(VBOC)inSeattle.Thesetwo the WashingtonWBCandVeteransBusiness business ownerJanellFarnsworthreachedoutto assistance. assistance. SCORE, SBDC,orWBC, visit www.sba.gov/tools/local- Office, District SBA nearest your of location the find To entrepreneurs. and contributionstothesuccessofthisnation’s SCORE anditmentorsfortheirsignificantsupport That’s anumbertobeproudof,andSBAsalutes 10 millionentrepreneursandsmallbusinessowners. provided mentoringandtrainingsupporttomorethan anniversary. Since1964,SCOREvolunteershave partners. Thisyear,SCOREcelebratesits50th recognize amajormilestoneforoneofourresource In closing,wewouldliketotakeamoment business plan. decisions andhelpedhertodevelopawell-grounded and itsresourcepartners,whichguidedherbusiness emphasizes thevalueofclassesofferedbySBA resources, theArmycaptainwith20yearsofservice other entrepreneurstotakeadvantageofSBA’s available alternatives.WhenFarnsworthencourages shoppers whootherwisewouldhavelittleorno Janell’s Gluten-FreeMarket opened inDecember,2013. sole proprietorshiptoLLC/Corp.Hersecondlocation trademarking, andchangingabusinessstructurefrom employees, pricingtodriverevenue,thebenefitsof and VBOCtolearnaboutsuchissuesasmanaging plan. ShethenattendedclassesatboththeWBC serves a community of servesacommunityof Visit usonline: www.sba.gov/ny/ny CONTRACTING Applying for Government Contracts

The U.S. government is the largest performance of the contract. It provides single purchaser of goods and services HOW GOVERNMENT maximum incentive for the contractor CONTRACTING in the world, buying everything from CONTRACTING WORKS to control costs and perform effectively armored tanks to paper clips. Every Sealed bidding vs. Negotiation and imposes a minimum administrative year, the federal government awards There are two contracting methods the burden upon the contracting parties. more than $500 billion in contracts, and government uses to purchase goods and This type of contract is used in all a significant share of those contracts are services, sealed bidding and negotiation. sealed bid and some negotiated specifically allotted to small businesses. The first method, sealed bidding, procurements. The Small Business Administration involves the issuance of an invitation Cost reimbursement contracts provide works with agencies to award at least for bid by a procuring agency. Under for the payment of allowable costs 23 percent of all prime government the sealed bidding method, a contract is incurred by the contractor, to the extent contracts to small businesses, with awarded to a responsible bidder whose stated in the contract. The contract specific statutory goals for small bid, conforms to the requirements of a establishes a ceiling price, above which business, small disadvantaged solicitation (Invitation for Bids (IFB)) a contractor may not exceed without the businesses (SDB), businesses that that will be most advantageous to the approval of the contracting officer. Cost are women-owned (WOSB) or service- government, considering only price and reimbursement contracts are commonly disabled veteran-owned (SDVOSB), the price-related factors included in the used in research and development and businesses that are located in IFB. The second method, negotiation, contracts. historically underutilized business zones involves issuing a request for proposal Some contracts do not fit neatly into (HUBZone firms). (RFP) or request for quotation (RFQ). these two categories, such as time The agency ensures that small The business with the best proposal in and material contracts (prices for businesses have access to long-lasting terms of technical content, best value, hourly wages are fixed but the hours development opportunities, which price and other factors generally wins are estimated) and letter contracts means working with small businesses the contract. (authorizes a contractor to begin work to help them stay competitive, as on an urgent requirement). well as encouraging federal agencies Types of Contracts to award more contracts to small Firm fixed-price contracts place Small Business Set-Asides businesses. The SBA provides outreach A “set-aside” for small businesses the full responsibility for the costs programs, matchmaking events, and reserves an acquisition exclusively and risk of loss on the contractor. online training opportunities; and for small business participation. Firm fixed-price contracts do not helps agencies identify contracting This includes HUBZone Certified permit any adjustment on the basis opportunities for small businesses. small businesses, SBA 8(a) Certified of the contractor’s costs during the small businesses, Service-Disabled

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 41 Veteran-Owned small businesses and In addition, potential large business Existing businesses that choose to Economically Disadvantaged/Women- prime contractors must submit a move to qualified areas are eligible to Owned small businesses in specific subcontracting plan with their proposal apply for certification provided they industries. There are two ways in describing how they will successfully meet all the eligibility requirements. To which set-asides can be determined. maximize subcontracting opportunities fulfill the requirement that 35 percent First, if an acquisition of goods or to small businesses. of a HUBZone firm’s employees reside services has an anticipated dollar value To find subcontracting opportunities, in a HUBZone, employees must live in a of at least $3,000 but not exceeding a list of federal prime solicitations is primary residence at a place for at least $150,000, it is automatically reserved listed under the U.S. Small Business 180 days, or as a currently registered for small businesses. The acquisition Administration Subcontracting Network voter, and with intent to live there will be set aside only if the contracting (SUBNET) web.sba.gov/subnet/search/ indefinitely. officer determines there are two or more index.cfm and through the General responsible small businesses that are Services Administration (GSA) at The SBA is responsible for: competitive in terms of prices, quality www.gsa.gov/portal/content/101195. • Determining whether or not and delivery. Second, if an acquisition Research the list of prime contractors individual concerns are qualified for goods or services is estimated and determine which are best suited HUBZone small business concerns; at more than $150,000, and it is to your business. Develop a marketing • Maintaining a list of qualified determined that offers will be obtained strategy, and then contact the Small HUBZone small business concerns from two or more responsible small Business Liaison Officer (SBLO) for use by acquisition agencies businesses, at a fair market price, listed for each prime to schedule an in awarding contracts under the the acquisition is reserved exclusively appointment. program; for small business participation. • Adjudicating protests and appeals Reasonable expectations of small of eligibility to receive HUBZone business competition may be evaluated SBA CONTRACTING contracts. using past acquisition history of an item For additional information, visit or similar items. PROGRAMS www.sba.gov/hubzone. There are several exceptions and HUBZONE unique rules for specific kinds of 8(a) BUSINESS DEVELOPMENT small businesses and industries. For The Historically Underutilized Research and Development (R&D) Business Zones (HUBZone) program PROGRAM small business set-asides, there helps small businesses located in The 8(a) Business Development must be reasonable expectation of distressed urban and rural communities program is a nine-year program obtaining from small businesses the gain access to federal set-aside contracts established to assist eligible socially and best scientific and technological sources and sole source contracts, as well as a economically disadvantaged individuals consistent with the requirements of price evaluation preference in full and to develop and grow their businesses. the proposed acquisition. For small open contract competitions. There is Business development assistance a statutory goal that HUBZone small business set-asides other than for includes one-on-one counseling, training business concerns be awarded not less services or construction services, any workshops, match-making opportunities than 3 percent of the total value of all business proposing to furnish a product with federal buyers and other that it did not manufacture must prime contract and subcontract awards. The HUBZone program also establishes management and technical guidance. furnish the product of a small business There is a statutory requirement that manufacturer unless the SBA has preference for award of federal contracts small disadvantaged business concerns granted either a waiver or exception to small businesses in these areas. To be awarded not less than 5 percent of to this requirement, referred to as the qualify for the program, a business Non-manufacturer rule. In industries (except those that are tribally-owned) the total value of all prime contract CONTRACTING where the SBA finds that there are no must meet the following criteria: awards. All firms that become eligible small business manufacturers, it may • It must be a small business by SBA for SBA’s 8(a) business development issue a waiver to the non-manufacturer size standards assistance are also considered small rule. Waivers permit small businesses • It must be owned and controlled at disadvantaged business concerns for the dealers or distributors to provide any least 51 percent by U.S. citizens, purpose of federal contracting. domestic firm’s product. or a Community Development To be eligible for the 8(a) Business Corporation (CDC), an agricultural Development program, a business must Subcontracting cooperative, or an Indian tribe meet the following criteria: Subcontracting opportunities are a • Its principal office must be located • It must be a small business by SBA great resource for small businesses, within a “Historically Underutilized size standards; especially for those not ready to bid as Business Zone,” which includes • It must be owned (at least 51 prime contractors. Experience gained lands considered “Indian Country” percent) by one or more individuals from subcontracting with a federal and military facilities closed by the who qualify as socially and prime contractor can better prepare Base Realignment and Closure Act economically disadvantaged, and businesses to bid for prime contracts. • At least 35 percent of its employees who are U.S. citizens of good Current regulations stipulate that must reside in a HUBZone. character; for contracts offering subcontracting Note: Different rules apply for • It must be controlled, managed, opportunities over $650,000 for Tribal Governments, Alaska Native and operated full-time by one or goods and services, or $1.5 million Corporations, Community Development more individuals who qualify as for construction must offer the Corporations and small agricultural disadvantaged, and; maximum practicable subcontracting cooperatives. These are delineated opportunities to small businesses. in Title 13 of the Code of Federal Regulations, Part 126.

42 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny • It must demonstrate potential for success (generally by being in business for at least two full years) WHAT YOU SHOULD KNOW and have the capacity to perform on government and non-government ABOUT YOUR BUSINESS contracts before applying. To be eligible to bid on a federal 3. Do you fall under a specific Socially disadvantaged individuals contract, you must know your business. certification? are those who have been subjected to Answer the following three questions: Under the umbrella of “small racial or ethnic prejudice or cultural business,” SBA has outlined several bias because of their identity as a 1. Are you a small business? specific certifications that businesses member of a group without regard Is your small business: may fall under. These certifications are to their individual capabilities. The • Organized for profit? divided into two categories: following individuals are presumed • Located in the U.S.? to be socially disadvantaged: Black • Operated primarily within the SBA-Certified and Self-Certified. Americans, Native Americans, Alaska U.S. or making a significant The SBA-Certified Programs were Natives or Native Hawaiians, Hispanic contribution to the U.S. economy created to assist specific businesses Americans, Asian Pacific Americans, through payment of taxes or use of and Subcontinent Asian Americans. in securing federal contracts and American products, materials, or therefore can only be issued by SBA An individual who is not a member labor? of one of these groups must establish administrators. For the Self-Certified • Independently owned and Programs, you can determine for individual social disadvantage by a operated? yourself if your business meets the preponderance of evidence. • Not dominant in the field of requirements by referring to the Economically disadvantaged operation in which it is bidding for individuals are socially disadvantaged government contracts? Federal Acquisition Regulation (FAR). individuals whose ability to compete • A sole proprietorship, partnership, Just as Congress has given federal in the free-enterprise system has been corporation, or any other legal agencies a goal of procuring 23 impaired due to diminished capital form? percent of federal contracts from and credit opportunities as compared If the first six criteria apply to your small businesses, so too must federal to others in the same or similar business, ask yourself the second agencies meet specific contracting goals line of business who are not socially important question to find out if for other categories of small firms. disadvantaged. your business meets size standard These goals are: Firms owned by Alaska Native requirements. • 23 percent of contracts for Small Corporations, Indian tribes, Native Businesses Hawaiian organizations, and 2. What is the size standard for your • 5 percent of contracts to Small Community Development Corporations business? Disadvantaged Businesses can also apply to the SBA for 8(a) Size standards are used to determine • 5 percent to Women-Owned Small CONTRACTING business development assistance. whether a business is small or Businesses So that approved firms can obtain “other than small.” Size standards • 3 percent to Service-Disabled training, counseling, and business vary depending upon the industry. Veteran-Owned Small Businesses development assistance, SBA designates To determine the size standard for • 3 percent to HUBZone Small a staff person at a local SBA district your business, you will need a North Businesses office, geographically near the business American Industry Classification code Federal agencies have a strong to coordinate the firm’s business (NAICS). Every federal agency uses incentive to fulfill these contracting development assistance. these codes when considering your goals. You should apply for those SBA- SBA is responsible for: business. To determine your NAICS • Determining whether a business Certified and Self-Certified programs code, go to . qualifies for the 8(a) Business www.census.gov/eos/www/naics/ for which you qualify to take advantage Development program; Some SBA programs require their of contracting opportunities. • Determining whether a business own unique size standards. To find out continues to qualify, during the more about these requirements and nine-year term; other size standard information, go to • Approving Mentor/Protégé www.sba.gov/size. agreements between 8(a) firms and large businesses; • Providing technical guidance and in-person counseling and training What can a PTAC do for you? business development assistance services for you, the small business • Determine if your business is ready during the nine-year term. owner. They are designed to provide for government contracting. For additional information, visit technical assistance to businesses that Pursuing government contracts is www.sba.gov/8a. want to sell products and services to a challenge, and can be burden for federal, state, and/or local governments. your company if you do not have PROCUREMENT TECHNICAL PTAC services are available either the resources or maturity to handle free of charge, or at a nominal cost. a contract. A PTAC representative ASSISTANCE CENTERS PTACs are part of the Procurement can sit with you one-on-one and Technical Assistance Program, which is determine if your company is ready, (PTACs) and how to position yourself for administered by the Defense Logistics Doing business with the government success. is a big step to growing your business. Agency. • Help you register in the proper Procurement Technical Assistance places. There are numerous Centers (PTACs) provide local, databases to register with to get

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 43 involved with the government Liz Kallen, Program Manager development officer, visit the marketplace, including the Two Blue Hill Plz./P.O. Box 1575 various program websites, or contact Department of Defense’s System for Pearl River, NY 10965-1575 SBA’s Office of Veterans Business Award Management (SAM), GSA 845-735-7040 Development at www.sba.gov/about- Schedules, and other government [email protected] offices-content/1/2985. vendor sites. www.rocklandlovesbusiness.com • See if you are eligible in any small business certifications. Some SMALL DISADVANTAGED WOMEN-OWNED government contracts are set SMALL BUSINESS aside for certain businesses that BUSINESS A Small Disadvantaged Business FEDERAL CONTRACT PROGRAM have special certifications, such as On October 7, 2010, the SBA woman-owned, minority-owned, and (SDB) is defined as a small business published a final rule effective February HUBZone. A PTAC representative that is at least 51 percent owned and 4, 2011, aimed at expanding federal can help you obtain these controlled by one or more individuals certifications, if you are eligible, who are socially and economically contracting opportunities for women- allowing for more government disadvantaged. owned small businesses. The Women- contract opportunities. There is a federal government-wide Owned Small Business (WOSB) • Research past contract goal of awarding at least 5 percent Federal Contract Program authorizes opportunities. A PTAC of prime contracting dollars to SDBs contracting officers to set aside certain representative can look into past each year. Large prime contractors federal contracts for eligible women- contracts, to see what types of must also establish a 5 percent owned businesses and economically contracts have been awarded to subcontracting goal for SDBs in their disadvantaged women-owned small businesses like yours. subcontracting plans which includes businesses (EDWOSB) in industries In addition, a PTAC can help you SBA 8(a) certified small businesses. where it has be determined WOSBs identify and bid on a contract, and if you Firms self-certify as SDB in the and EDWOSBs are underrepresented.. are awarded the contract, continue to federal data base called the System for To be eligible, a firm must be at least provide you support through measuring Award Management (SAM) without 51 percent owned or controlled by one or your performance and helping with your submitting any application to the SBA; more women. The women must be U.S. contract audits. Don’t hesitate to find however, firms approved by the SBA citizens and the WOSB or EDWOSB the PTAC near you today to get started into the 8(a) Business Development must be “small” under its primary in government contracting or to improve Program are automatically certified as industry in accordance with SBA’s size your success. an SDB. To self certify, firms should standards established for under the access the website: www.sba.gov/sdb. North American Industry Classification Procurement Technical By reading the information contained code assigned to that industry. To be Assistance Centers therein you will be given guidance as to deemed “economically disadvantaged” what steps are required. its owners must demonstrate economic LaGuardia Community College PTAC disadvantage in accordance with the Edgard Hernandez, Director LaGuardia Community College/CUNY requirements set forth in the final rule. 31-10 Thomson Ave., Ste. B309 SERVICE-DISABLED VETERAN- For additional information, visit Long Island City, NY 11101 OWNED SMALL BUSINESS www.sba.gov/wosb. 718-482-5306 The Service-Disabled Veteran- Protests under the WOSB Federal [email protected] Owned Small Business (SDVOSB) Contract Program are also administered www.laguardiaptac.com program has a federal government-wide by the SBA. When a company’s WOSB goal of awarding at least 3 percent

CONTRACTING or economically disadvantaged WOSB New York City Procurement Technical of prime and subcontracting dollars Assistance Center self-certification is challenged, the to Service-Disabled Veteran-Owned SBA determines if the business meets Melissa Hester, Director Small Businesses each year. Large New York City Department of ownership and control requirements. Small Business Services prime contractors must also establish Large prime contractors must also 110 William St., 2nd Fl. a subcontracting goal for SDVOSBs establish a subcontracting goal for in their subcontracting plans. These New York, NY 10038 Woman-Owned Small Businesses in subcontracting goals are reviewed at 212-513-6444 their Subcontracting Plans. These time of proposal by both the contracting [email protected] subcontracting goals are reviewed at www.nyc.gov/getcertified officer and the SBA prior to the award of a contract. time of proposal by both the contracting South Bronx Overall Economic While the SBA does not certify officer and the SBA prior to the award Development Corporation companies as SDVOSBs, SDVOSB of a contract. Evangeline Gelladola, Assistant Director protest process is administered by Bronx Procurement & Technical SBA to ensure that only businesses Assistance Center owned by service-disabled veterans 555 Bergen Ave. receive contracts reserved exclusively Bronx, NY 10455 718-732-7538 for them. When a business’s SDVOSB [email protected] self-certification is challenged, the www.sobro.org SBA determines if the business meets the status, ownership and control requirements. Rockland Economic Development Corp. To determine your eligibility, PTAC contact your local veterans’ business

44 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny GETTING STARTED IN CONTRACTING Once you have identified the important 5. Register with the System for Award 7. Make Sure Your Business is information regarding your business, it is Management (SAM), formerly the Financially Sound time to start the process of procuring a Central Contractor Registration (CCR) This critical step is absolutely necessary government contract. The SAM is an online federal to make sure that your business is 1. Identify your DUNS (Data Universal government maintained database of financially prepared for the journey Numbering System) Number companies wanting to do business with ahead. Even if you are able to obtain a To register your business, obtain a the federal government. Agencies search government contract, you will not be DUNS number used to identify and track the database for prospective vendors. receiving all of the money at once. It millions of businesses. You can Register at www.SAM.gov. helps to have a clear plan of how your obtain your free DUNS number when After completing registration, you will business will stage the benefits of the registering with the System for Award be asked to enter your small business contract. Management. Log on to www.sam.gov profile information through the SBA 8. Search Federal Business Opportunities for more information or by contacting Supplemental Page. The information will (FedBizOpps) for Contracting Dun & Bradstreet at www.dnb.com. be displayed in the Dynamic Small Opportunities 2. Identify your EIN Business Search. FedBizOpps, is an online service operated (Employer Identification Number) Creating a profile in SAM and keeping it by the federal government that current ensures your firm has access An EIN, otherwise known as a federal tax announces available business to federal contracting opportunities. identification number, is generally Entering your small business profile, opportunities. FedBizOpps helps identify required of all businesses. For more including your business information the needs of federal agencies and information, go to www.irs.gov. and key word description, allows available contracting opportunities. 3. Identify your NAICS (North American contracting officers, prime contractors, To begin searching for contracting Industry Classification) codes and buyers from state and local opportunities, go to www.fbo.gov. The NAICS codes are used to classify the governments to learn about your 9. Marketing Your Business industry a particular business occupies. company. Registering your business is not enough You will need at least one NAICS code to 6. Register with the GSA Schedule to obtain a federal contract; you will need complete your registration, but be sure to The GSA (General Services to market your business to attract federal list as many as apply. You may also add Administration) Multiple Award Schedule agencies. Tips for good marketing are: or change NAICS codes at any time. Visit (aka Federal Supply Schedule) is used by • Determine which federal agencies www.census.gov/eos/www/naics/ to find GSA to establish long-term, government- buy your product or service, and NAICS codes. wide contracts with commercial firms. get to know them; 4. Identify your SIC (Standard Industrial Once these contracts are established, • Identify the contracting Classification) codes government agencies can order the procedures of those agencies; The SIC codes are four-digit numbers supplies and services they need directly • Focus on opportunities in your that are used to classify the industry a niche and prioritize them. from the firms through the use of an CONTRACTING particular business occupies. While online shopping tool. Becoming a GSA • Although not required, you may want NAICS codes have largely replaced SIC schedule contractor increases your to obtain a PSC (Product Services codes, you will still need to provide your opportunity for contracts across all levels Code) and/or a FSC (Federal Supply SIC code. SIC codes can be found at of government. Businesses interested in Classification). These codes provide www.osha.gov/pls/imis/sicsearch.html. becoming GSA schedule contractors additional information about the should review the information available services and products your business at www.gsa.gov/schedules. offers.

ADDITIONAL PROCUREMENT RESOURCES

The following federal procurement • Procurement Center Representatives • Department of Defense (The DoD is resources may also be of assistance: (PCR) and Commercial Marketing the largest purchaser of goods from • The Certificates of Competency (CoC) Representatives (CMR): PCRs work small businesses): program allows a small business, to increase the small business share www.acq.osd.mil/osbp/ which is the apparent successful of federal procurement awards. • Office of Federal Procurement Policy: offeror, to appeal a contracting officer’s CMRs offer many services to small www.whitehouse.gov/omb/procurement_default businesses, including counseling on non-responsibility determination that • Acquisition Forecast: how to obtain subcontracts. To find a it is unable to fulfill the requirements www.acquisition.gov/comp/procurement PCR or CMR near you, go to _forecasts/index.html of a specific government contract. The www.sba.gov/content/procurement-center- • Federal Supply Schedule (FSS): SBA will conduct a detailed review representatives.

of the firm’s technical and financial • PTACs (Procurement Technical www.gsa.gov capabilities to perform on the contract. Assistance Centers): PTACs provide • GSA Center for Acquisition Excellence: If the business demonstrates the assistance to businesses that want to www.gsa.gov/portal/content/103487 capability to perform, the SBA issues sell products and services to federal, a Certificate of Competency to the state, and/or local government. To contracting officer, requiring award of find a PTAC in your state, go to that contract to the small business. www.dla.mil/SmallBusiness/Pages/ptap.aspx.

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 45 SBA DISASTER ASSISTANCE Knowing the Types of Assistance Available for Recovery

he disaster program is or replace real property, machinery, The EIDL helps small businesses meet SBA’s largest direct loan equipment, fixtures, inventory and ordinary and necessary operating program, and the only SBA leasehold improvements. A homeowner expenses as they recover from a disaster. program for entities other may apply for a loan of up to $200,000 The limit for physical and EIDL loans than small businesses. SBA to repair or replace the primary combined is $2 million. Tis responsible for providing low-interest residence to its pre-disaster condition. The Military Reservists Economic disaster loans to businesses of all Homeowners or renters may apply Injury Disaster Loan is a working sizes, private non-profit organizations, for a loan up to $40,000 to help repair capital loan for small businesses facing homeowners and renters following or replace personal property, such as financial loss when the owner or an declared disasters. clothing, furniture or automobiles, lost essential employee is called up to active The SBA is authorized by the Small in the disaster. duty in their role as a military reservist. Business Act to make two types of The SBA may increase a loan up The loan limit is $2 million and the disaster loans: to 20 percent of the total amount of business can use the funds to cover physical loss as verified by SBA to make operating expenses until the essential Physical Disaster Loans improvements that protect the property employee or business owner is released Physical Disaster Loans are from similar future disasters. from active duty. the primary source of funding for The SBA can only approve disaster permanent rebuilding and replacement Economic Injury Disaster Loans loans to applicants having an acceptable

DISASTER ASSISTANCE DISASTER of uninsured or underinsured disaster- Economic Injury Disaster Loans credit history and repayment ability. caused damages to privately-owned provide the necessary working capital The terms of each loan are established real and/or personal property. SBA’s after a declared disaster until normal in accordance with each borrower’s physical disaster loans are available operations resume. Small businesses, ability to repay. The law gives SBA to businesses of all sizes, private non- small agricultural cooperatives, small several powerful tools to make disaster profit organizations, homeowners businesses engaged in aquaculture loans affordable: low-interest rates and renters. Businesses and private, (fisheries, for example) and most private (around 4 percent), long-terms (up to nonprofit organizations of any size may nonprofit organizations of all sizes are 30 years), and refinancing of prior liens apply for a loan up to $2 million (actual eligible for EIDL assistance, regardless (in some cases). As required by law, the loan amounts are based on the amount of whether there was any physical interest rate for each loan is based on of uncompensated damage) to repair damage. The loan limit is $2 million. SBA’s determination of whether the

46 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny previous webinars, and download checklists that give you tips on risk assessment, evacuation plans and flood preparedness, that will help you develop a solid business continuity plan. Meanwhile, here are a few preparedness tips to consider: • Review Your Insurance Coverage. Contact your insurance agent to find out if your coverage is right for your business and make sure you understand the policy limits. Ask about Business Interruption Insurance, which compensates you for lost income and covers operating expenses if your company has to temporarily shut down after a disaster. • Establish a solid supply chain. If all your vital external vendors and suppliers are local and if the disaster is significantly widespread, you’ll all be in the same boat, struggling to recover. It’s a good idea to diversify your list of vendors for key supplies to companies outside your area or internationally, if possible. Create a contact list for important contractors and vendors you plan to use in an emergency and find out if those suppliers have a recovery plan in place. Keep this list with other documents filed in a place that’s accessible, and also at a applicant has credit available elsewhere preparedness plan in place, your protected off-site location. — the ability to borrow or use their own business will be able to recover sooner, • Plan for an alternate location. Do resources to recover from the disaster possibly without taking on new debt. some research well in advance of without causing undue hardship. Assessing your risks and needs are the disaster for several alternative More information on all of SBA’s an important first step in developing places to relocate your company disaster assistance programs, including your business continuity strategy. The in the event a disaster forces you to shut down indefinitely. Some

information for military reservists, American Red Cross’ Ready Rating™ DISASTER ASSISTANCE is available at www.sba.gov/disaster. program (www.readyrating.org) is a options include contacting a local Apply online using the Electronic Loan free online tool that helps businesses real estate agent to get a list of Application (ELA) via SBA’s secure get prepared for disaster and other available vacant office space. Make Website at: https://disasterloan.sba.gov/ela. emergencies. With Ready Rating you an agreement with a neighboring can evaluate your level of disaster business to share office space if readiness, and you’ll get customized disaster strikes. If possible, make Disaster Preparedness plans for employees to telecommute feedback on how to establish or expand Recovering from a disaster doesn’t until the office has been rebuilt. your disaster plan. begin with clearing the debris and The financial and emotional cost of Another useful site provided by FEMA returning to work. Imagine stepping into rebuilding a business after a disaster — Ready.gov ( ) — provides your store, or restaurant, or the office www.ready.gov can be overwhelming. However, with a practical disaster preparedness tips where you run your business, a day or business continuity plan in place, you’ll and checklists for homeowners, renters two after the fire has been contained, be able to rebound and reopen quickly, and businesses. SBA has teamed up the tornado has passed, or floodwaters and in a better position to contribute with Agility Recovery Solutions to offer have receded. First come the questions: to the economic recovery of your business continuity strategies through “How much will it cost to rebuild? Will community. the “PrepareMyBusiness” website my insurance cover all this? How will As small businesses are leading I pay my employees and vendors and (www.preparemybusiness.org) and America’s economic recovery, many of cover the bills during the recovery monthly disaster planning webinars. them are investing time and money phase?” Before a disaster strikes is a Previous topics — presented by into their plans to grow and create good time to start, or update and test experts in their fields — have included jobs. Developing a strong disaster your business continuity plan. crisis communications, testing the preparedness plan should be a critical While SBA disaster loans go a long preparedness plan, and using social and integral piece of those efforts. way toward revitalizing communities media to enhance small business Planning for a disaster is the best way of devastated by the economic fallout recovery. At the website you can limiting its effects. that follows disasters, with a solid sign up for future webinars, view

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 47 ADVOCACY AND OMBUDSMAN Watching Out for the Interests of Small Businesses

practical and timely resolutions of Regulatory Enforcement Fairness (REF) matters impacting small businesses. The National Ombudsman oversees fair enforcement of small business regulation by: • Providing small business owners a confidential way to report and resolve federal REF problems, like excessive enforcement action or disproportionate fines • Escalating small business concerns to federal agencies for fairness review & resolution • Grading federal agencies on their small business policies and practices Small businesses can connect with the National Ombudsman online at sba.gov/ombudsman, in-person, or through a national network of Regulatory Fairness Board Members. monitors federal agency compliance The National Ombudsman meets OFFICE OF ADVOCACY with the Regulatory Flexibility Act with small business owners around The SBA’s Office of Advocacy, the – the law that requires agencies to the country at listening sessions and “small business watchdog” of the analyze the impact of their proposed regulatory fairness dialogues in all ten government, examines the role and regulations on small entities (including SBA Regions. These outreach events status of small business in the economy small businesses, small governmental provide critical, real-time input from and independently represents the views jurisdictions and small nonprofit the small business community on REF of small business to federal agencies, organizations), and consider regulatory issues impacting small business growth Congress, the president and federal alternatives that minimize the economic and help federal regulators better appellate courts as friends of the court. burden on small entities. understand how government can best The advocacy office compiles and Advocacy’s mission is enhanced by support small business success. interprets statistics on small business a team of regional advocates, located Regional Regulatory Fairness Boards and is the primary entity within the in the SBA’s 10 regions. They are in each of SBA’s 10 regions promote federal government to disseminate Advocacy’s direct link to small business regulatory fairness by alerting federal small business data. owners, state and local government regulators to important REF issues such Headed by the chief counsel for entities, and organizations that as unintended consequences of a new advocacy, the office also funds outside support the interests of small entities. rule or regulation. These Boards, each research of small business issues The regional advocates help identify made up of five small business owners, and produces numerous publications regulatory concerns of small business also help raise awareness in their to inform policy makers about the by monitoring the impact of federal and communities about resources available important role of small businesses state policies at the grassroots level. to small businesses through the SBA in the economy and the impact Learn more about the Office of and the National Ombudsman. of government policies on small Advocacy at www.sba.gov/advocacy. businesses. In addition, the office Every year, the National Ombudsman reports to Congress its findings on the OFFICE OF THE NATIONAL impact of the policies and practices of every federal agency that touches small OMBUDSMAN: business. Bringing Fair Regulatory Enforcement To learn more about how the National ADVOCACY AND OMBUDSMAN to America’s Small Businesses Ombudsman can help your small The National Ombudsman has helped business, or to confidentially report thousands of small businesses save a REF issue, call 888-REG-FAIR time and money by resolving difficult (888-734-3247) or complete the simple regulatory compliance and enforcement one-page form at sba.gov/ombudsman/ issues. As part of President Obama’s comment. mandate to promote a level playing field for small business, we work directly with federal regulators to facilitate

48 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny ADDITIONAL RESOURCES Taking Care of Startup Logistics

product liability, which may be incurred when a customer suffers harm from using the product. There are many other types of liability, which are frequently related to specific industries. Liability law is constantly changing. An analysis of your liability insurance needs by a competent professional is vital in determining an adequate and appropriate level of protection for your business. Property – There are many different types of property insurance and levels of coverage available. It is important to determine the property insurance you need to ensure the continuation of your business and the level of insurance you need to replace or rebuild. You should also understand the terms of the insurance, including any limitations or waivers of coverage. Business Interruption – While ven if you are running a NYS Office of Business Permit and property insurance may pay enough small home-based business, Regulatory Assistance to replace damaged or destroyed you will have to comply Governor Alfred E. Smith Office Bldg. equipment or buildings, how will you with many local, state and 40 N. Pearl St. pay costs such as taxes, utilities and federal regulations. Avoid Albany, NY 12220 other continuing expenses during the 518-474-8275 or 800-342-3464 the temptation to ignore regulatory period between when the damage E [email protected] occurs and when the property is details. Doing so may avert some red www.nys-opal.com tape in the short term, but could be replaced? Business Interruption (or an obstacle as your business grows. “business income”) insurance can Taking the time to research the FICTITIOUS BUSINESS NAME provide sufficient funds to pay your fixed expenses during a period of time applicable regulations is as important Search to determine if the name when your business is not operational. as knowing your market. Bear in mind of your proposed business is already “Key Man” – If you (and/or any that regulations vary by industry. If in use. If it is not used, register the other individual) are so critical to you’re in the food-service business, name to protect your business. For the operation of your business that it for example, you will have to deal more information, contact the county cannot continue in the event of your with the health department. If you clerk’s office in the county where illness or death, you should consider use chemical solvents, you will have your business is based. If you are a “key man” insurance. This type of environmental compliances to meet. corporation, you’ll need to check with policy is frequently required by banks Carefully investigate the regulations the state. or government loan programs. It also that affect your industry. Being can be used to provide continuity out of compliance could leave you BUSINESS INSURANCE of operations during a period of ADDITIONAL RESOURCES unprotected legally, lead to expensive Like home insurance, business ownership transition caused by the penalties and jeopardize your insurance protects your business death, incapacitation or absence due business. against fire, theft and other losses. to a Title 10 military activation of an Contact your insurance agent or owner or other “key” employee. BUSINESS LICENSES broker. It is prudent for any business Automobile – It is obvious that to purchase a number of basic types a vehicle owned by your business There are many types of licenses, of insurance. Some types of coverage should be insured for both liability both state and local as well as are required by law, others simply and replacement purposes. What is professional. Depending on what you make good business sense. The types of less obvious is that you may need do and where you plan to operate, insurance listed below are among the special insurance (called “non-owned your business may be required to most commonly used and are merely a automobile coverage”) if you use your have various state and/or municipal starting point for evaluating the needs personal vehicle on company business. licenses, certificates or permits. of your business. This policy covers the business’ Licenses are typically administered Liability Insurance – Businesses liability for any damage which may by a variety of state and local may incur various forms of liability result from such usage. departments. Consult your state or in conducting their normal activities. Officer and Director – Under most local government for assistance. One of the most common types is state laws, officers and directors of a

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 49 corporation may become personally The IRS has publications, counselors liable for their actions on behalf of the and workshops available to help you IRS WEB PRODUCTS company. This type of policy covers sort it out. For more information, FOR SMALL BUSINESSES this liability. contact the IRS at 800-829-1040 or For the most timely and up-to-date Home Office – If you are www.irs.gov. tax information, go to www.irs.gov. establishing an office in your home, it is a good idea to contact your homeowners’ insurance company to SALES TAX VIRTUAL SMALL BUSINESS update your policy to include coverage EXEMPTION CERTIFICATE WORKSHOP for office equipment. This coverage If you plan to sell products, you www.irs.gov/Businesses/Small-Businesses- is not automatically included in a will need a Sales Tax Exemption &-Self-Employed/Small-Business-Self- standard homeowner’s policy. Certificate. It allows you to purchase Employed-Virtual-Small-Business-Tax- Workshop inventory, or materials, which will become part of the product you sell, The Virtual Small Business Tax TAXES Workshop is the first of a series of Taxes are an important and complex from suppliers without paying taxes. It requires you to charge sales tax video products designed exclusively aspect of owning and operating a for small business taxpayers. successful business. Your accountant, to your customers, which you are responsible for remitting to the This workshop helps business payroll person, or tax adviser may be owners understand federal tax very knowledgeable, but there are still state. You will have to pay penalties obligations. The Virtual Small many facets of tax law that you should if it is found that you should have Business Workshop is available on know. The Internal Revenue Service is been taxing your products and now a great source for tax information. owe back taxes to the state. For CD at www.irs.gov/businesses/small/ Small Business/Self-Employed Tax information on sales tax issues, article/0,,id=101169,00.html if you Center: www.irs.gov/Businesses/Small- contact your state government. are unable to attend a workshop in Businesses-&-Self-Employed. New York State Department of Taxation person. Small business workshops are When you are running a business, 518-457-5181 designed to help the small business www.tax.ny.gov you don’t need to be a tax expert. owner understand and fulfill their However, you do need to know some federal tax responsibilities. Workshops tax basics. The IRS Small Business/ FEDERAL INCOME TAX are sponsored and presented by Self-Employed Tax Center gives you Like the state income tax, the method IRS partners who are federal tax the information you need to stay tax of paying federal income taxes depends specialists. compliant so your business can thrive. upon your legal form of business. Workshop topics vary from a For Small Business Forms and Sole Proprietorship: You must file general overview of taxes to more Publications visit: www.irs.gov/ specific topics such as recordkeeping IRS Federal Form Schedule C along Businesses/Small-Businesses-&-Self- and retirement plans. Although with your personal Federal Income Employed/Small-Business-Forms-and- most are free, some workshops have Tax return (Form 1040) and any other Publications. fees associated with them. Fees applicable forms pertaining to gains or for a workshop are charged by the losses in your business activity. sponsoring organization, not the IRS. FEDERAL PAYROLL TAX Partnership: You must file a Federal The IRS’s Virtual Small Business Partnership return (Form 1065). This (EIN NUMBERS) Tax Workshop is an interactive is merely informational to show gross An Employer Identification Number resource to help small business owners and net earnings of profit and loss. Also, (EIN), also known as a Federal learn about their federal tax rights Employer Identification Number each partner must report his share of and responsibilities. This educational (FEIN), is used to identify a business partnership earnings on his individual product, available online and on CD entity. Generally, businesses need an Form 1040 based on the information consists of nine stand-alone lessons EIN to pay federal withholding tax. from the K-1 filed with the Form 1065. that can be selected and viewed in You may apply for an EIN in various Corporation: You must file a any sequence. A bookmark feature ways, one of which is to apply online Federal Corporation Income Tax at www.irs.gov/Businesses/Small- makes it possible to leave and return return (Form 1120). You will also be to a specific point within the lesson. Businesses-&-Self-Employed/Employer- required to report your earnings from ID-Numbers-EINs. This is a free service Users also have access to a list of the corporation including salary and useful online references that enhance offered by the Internal Revenue other income such as dividends on your Service. the learning experience by allowing personal federal income tax return Call 800-829-1040 if you have them to view references and the video (Form 1040). questions. You should check with your lessons simultaneously. state to determine if you need a state The Tax Calendar for number or charter. FEDERAL PAYROLL TAX Small Businesses and Self- Federal Withholding Tax: Any Employed (Publication 1518) FEDERAL business employing a person must www.irs.gov/businesses/small/ register with the IRS and acquire an article/0,,id=101169,00.html .html SELF-EMPLOYMENT TAX EIN and pay federal withholding tax at contains useful information on general Every employee must pay Social least quarterly. File Form SS-4 with the business taxes, IRS and SSA customer Security and Medicare taxes. If you IRS to obtain your number and required assistance, electronic filing and paying are self-employed, your contributions ADDITIONAL RESOURCES tax forms. Call 800-829-3676 or options, retirement plans, business are made through the self-employment 800-829-1040 if you have questions. publications and forms, common tax tax. filing dates, and federal legal holidays.

50 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny IRS SOCIAL SECURITY CARDS 800-829-1040 SAFETY AND HEALTH All employees must have a Social REGULATIONS Security number and card. It must be New York State Department of Labor All businesses with employees signed by its owner, and you should Department of Liability and are required to comply with state always ask to see and personally record Determination(Unemployment Insurance) and federal regulations regarding the Social Security number. Failure to 866-435-1499 or 518-457-2635 www.labor.ny.gov the protection of employees. The do so may cause your employee to lose Occupational Safety and Health benefits and considerable trouble for New York State Insurance Fund Administration provides information on yourself in back tracking to uncover the 212-312-9000 the specific health and safety standards error. or your local Insurance Company adopted by the U.S. Department of Each payday, your employees must www.dfs.ny.gov Labor. Call 1-800-321-6742 or visit receive a statement from you telling www.osha.gov. them what deductions were made New York State Department of Taxation Occupational Safety & Health and how many dollars were taken out and Finance Administration for each legal purpose. This can be 518-457-5181 Department of Labor www.tax.ny.gov presented in a variety of ways, including 820 First St. N.E. on the check as a detachable portion Washington, DC 20020 or in the form of an envelope with the WORKPLACE DISABILITY 202-693-5000 items printed and spaces for dollar PROGRAMS www.osha.gov deductions to be filled in. Americans with Disabilities Act New York State Department of Labor (ADA): For assistance with the ADA, Division of Safety and Health call 800-669-3362 or visit www.ada.gov. Bldg. 12, State Campus, Rm. 159 EMPLOYEE CONSIDERATIONS Albany, NY 12240 Taxes 518-457-5508 If you have any employees, including U.S. CITIZENSHIP AND www.labor.ny.gov officers of a corporation but not the sole IMMIGRATION SERVICES NY State Small Business Environmental proprietor or partners, you must make The Federal Immigration Reform and periodic payments towards, and/or file Ombudsman Empire State Development Control Act of 1986 requires employers 633 Third Ave. quarterly reports about payroll taxes to verify employment eligibility of New York, NY 10017-6706 and other mandatory deductions. You new employees. The law obligates 877-247-2329 may contact these government agencies an employer to process Employment [email protected]/ for information, assistance and forms. Eligibility Verification Form I-9. The environment Social Security Administration U.S. Citizenship and Immigration www.empire.state.ny.us 800-772-1213 www.ssa.gov Services Office of Business Liaison A Small Business Assistance offers a selection of information Program has been set up to Social Security’s Business Services bulletins and live assistance through interpret requirements, provide Online the Employer Hotline. For forms call advice on pollution prevention and 800-870-3676, for the Employer Hotline The Social Security Administration control strategies, and to conduct now provides free electronic services call 800-357-2099. environmental audits. For additional online at www.socialsecurity.gov/ information, call: E-Verify: Employment Eligibility NYS Environmental Facilities Corporation employer/. Once registered for Business 800-780-7227 Services Online, business owners or Verification their authorized representative can: E-Verify, operated by the Department • file W-2s online; and of Homeland Security in partnership • verify Social Security numbers with the Social Security Administration, through the Social Security is the best — and quickest — way for Number Verification Service, employers to determine the employment ADDITIONAL RESOURCES used for all employees prior to preparing and submitting Forms eligibility of new hires. It is a safe, W-2. simple, and secure Internet-based Federal Withholding system that electronically verifies U.S. Internal Revenue Service the Social Security number and 800-829-1040 employment eligibility information www.irs.gov reported on Form I-9. E-Verify is voluntary in most states and there is no Health Insurance charge to use it. Compare plans in your area at If you are an employer or employee www.healthcare.gov. and would like more information about Employee Insurance the E-Verify program, please visit If you hire employees you may be www.dhs.gov/E-Verify or contact required to provide unemployment or Customer Support staff: 1-888-464-4218 workers’ compensation insurance. For Monday – Friday 8 a.m. – 5 p.m. more information, contact the following: E-mail: [email protected]

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 51 BUILDING CODES, PERMITS AND ZONING BUSINESS ORGANIZATION: It is important to consider zoning Choosing Your Business Structure regulations when choosing a site for your business. You may not be permitted to conduct business out of There are many forms of legal task; what, if any, consultation is your home or engage in industrial structure you may choose for your needed between partners before activity in a retail district. Contact business. Each legal structure offers major decisions, and what happens the business license office in the city or organizational options with different when a partner dies. Under a general town where the business is located. tax and liability issues. We suggest partnership each partner is liable for you research each legal structure all debts of the business. Profits are thoroughly and consult a tax taxed as income to the partners based BAR CODING accountant and/or attorney prior to on their ownership percentage. Many stores require bar coding on making your decision. packaged products. Many industrial The most common organizational Limited Partnership and manufacturing companies use bar structures are sole proprietorships, Like a general partnership, a coding to identify items they receive and general and limited partnerships and limited partnership is established by ship. There are several companies that limited liability companies. an agreement between two or more can assist businesses with bar-coding Each structure offers unique tax and persons. However, there are two types needs. You may want to talk with an liability benefits. If you’re uncertain of partners. SBDC, SCORE or WBC counselor for which business format is right for you, • A general partner has greater more information. you may want to discuss options with a control in some aspects of the business counselor or attorney. partnership. For example, only Federal Registration of Trademarks a general partner can decide to and Copyrights Sole Proprietorship dissolve the partnership. General Trademarks or service marks are One person operating a business as partners have no limits on the words, phrases, symbols, designs or an individual is a sole proprietorship. dividends they can receive from combinations thereof that identify It’s the most common form of business profit so they incur unlimited and distinguish the source of goods. organization. Profits are taxed as liability. Trademarks may be registered at both income to the owner personally. The • Limited partners can only the state and federal level. To register a personal tax rate is usually lower than receive a share of profits based federal trademark, contact: the corporate tax rate. The owner on the proportional amount of U.S. Patent and Trademark Office has complete control of the business, their investment, and liability is P.O. Box 1450 but faces unlimited liability for its similarly limited in proportion to Alexandria, VA 22313-1450 debts. There is very little government their investment. 800-786-9199 regulation or reporting required with www.uspto.gov/ this business structure. LLCs and LLPs The limited liability company Trademark Information Hotline or partnership is a relatively 703-308-9000 General Partnership new business form. It combines A partnership exists when two selected corporate and partnership STATE REGISTRATION or more persons join together in characteristics while still maintaining the operation and management status as a legal entity distinct from OF A TRADEMARK of a business. Partnerships are Trademarks and service marks may its owners. As a separate entity it can subject to relatively little regulation acquire assets, incur liabilities and be registered in a state. and are fairly easy to establish. A Caution: Federally registered conduct business. It limits liability formal partnership agreement is for the owners. The limited liability trademarks may conflict with and recommended to address potential supersede state registered business and partnership is similar to the LLC, but conflicts such as: who will be it is for professional organizations. product names. responsible for performing each Patents A patent is the grant of a property right to the inventor by the U.S. Patent U.S. Patent and Trademark Office and Trademark Office. It provides the U.S. Copyright Office 800-786-9199 • www.uspto.gov U.S. Library of Congress owner with the right to exclude others James Madison Memorial Building from making, using, offering for sale or Copyrights Washington, DC 20559 selling the patented item in the United Copyrights protect original works of 202-707-9100 - Order Line States. authorship including literary, dramatic, 202-707-3000 - Information Line www.copyright.gov Additional information is provided in musical and artistic, and certain other the publications, General Information intellectual works. Copyrights do Concerning Patents and other not protect facts, ideas and systems, publications distributed through the although it may protect the way these ADDITIONAL RESOURCES U.S. Patent and Trademark Office. For things are expressed. For general more information, contact the: information contact:

52 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny OTHER ASSISTANCE

STATE OF NEW YORK MORTGAGE START SMALL THINK BIG BROOKLYN HISPANIC OTHER SOURCES OF AGENCY The Sunshine Bronx Business Incubator CHAMBER OF COMMERCE ASSISTANCE 641 Lexington Ave., 4th Fl. 1231 Lafayette Ave. 2359 86th St., 2nd Fl. New York, NY 10022 Bronx, NY 10474 Brooklyn, NY 11214 County Economic 800-382-HOME (4663) 646-723-4053 718-714-7146 Development www.sonyma.org [email protected] info@brooklynhhc. com www.startsmallthinkbig.org www.brooklynhhc.org Organizations Other Resources Economic development organizations offer THE NEW YORK HISPANIC COSMETOLOGY BROOKLYN PUBLIC LIBRARY/BUSINESS a wide array of programs and services for BRONX AND BEAUTY CHAMBER OF COMMERCE LIBRARY new businesses as well as for companies 2501 Grand Conscourse, Ste. 331 280 Cadman Plaza W. in need of expansion or relocation OFFICE OF THE BRONX BOROUGH Bronx, NY 10463 Brooklyn, NY 11201 assistance. Typical services provided by PRESIDENT 718-802-3700 718-623-7000 these organizations include site location, Borough Hall www.nycosmetologychamber.org [email protected] tax incentives and loan packaging. For more 851 Grand Concourse www.biz.brooklynlibrary.org/business information contact the organization in the Bronx, NY 10451 BROOKLYN geographic area of your interest. 718-590-3500 [email protected] CARIBBEAN AMERICAN OFFICE OF BROOKLYN BOROUGH CHAMBER OF COMMERCE NY STATE AGENCIES http://bronxboropres.nyc.gov PRESIDENT 63 Flushing Ave., Unit 239, Bldg. 5, Mezz A Borough Hall Brooklyn, NY 11205 EMPIRE STATE DEVELOPMENT CORP. BRONX COUNTY CLERK OFFICE 209 Joralemon St. 718-834-4544 Small Business Division 851 Grand Concourse, Rm. 118 Brooklyn, NY 11201 www.caribbeantradecenter.com 633 Third Ave., 33rd Fl. Bronx, NY 10462 718-802-3700 New York, NY 10017 866-797-7214 www.brooklyn-usa.org CHURCH AVENUE MERCHANTS 800-782-8369 (800-STATE-NY) www.bronxcountyclerkoffice.com BLOCK ASSOCIATION [email protected] KINGS COUNTY CLERK OFFICE 1720 Church Ave., 2nd Fl. www.empire.state.ny.us/ NYC BUSINESS SOLUTION BRONX CENTER 400 E. Fordham Rd., 7th Fl. Supreme Court Building Brooklyn, NY 11226 360 Adams St., Rm. 189 718-287-2600 NY DEPARTMENT OF STATE’S DIVISION (entrance on Webster Ave.) Brooklyn, NY 11201 www.camba.org OF CORPORATIONS Bronx, NY 10458 347-404-9772 Albany Location: 718-960-7910 www.nycourts.gov EAST NEW YORK RESTORATION LDC. One Commerce Plaza www.nyc.gov/nycbusiness 1159 Elton St. 99 Washington Ave. ASTELLA DEVELOPMENT CORP. Brooklyn, NY 11239 Albany, NY 12231 BRONX CHAMBER OF COMMERCE 1618 Mermaid Ave. 718-676-5920 518-473-2492 1200 Waters Pl., Ste. 106 Bronx, NY 10461 Brooklyn, NY 11224 www.enyrestoration.org 718-266-4653 OTHER ASSISTANCE New York City Location: 718-828-3900 [email protected] NEW AMERICAN 123 William St. www.bronxchamber.org www.astelladevelopment.org CHAMBER OF COMMERCE New York, NY 10038 26 Court St., Ste. 701 [email protected] BRONX OVERALL ECONOMIC BEDFORD STUYVESANT RESTORATION Brooklyn, NY 11242 www.dos.state.ny.us/corps DEVELOPMENT CORPORATION 851 Grand Concourse, Rm. 123 CORPORATION 718-722-9217 1368 Fulton St. www.mynacc.org NYS DEPARTMENT OF TAXATION AND Bronx, NY 10451 Brooklyn, NY 11216 FINANCE 718-590-6252 718-636-6988 NYC BUSINESS SOLUTIONS BROOKLYN Sales Tax Registration Unit [email protected] [email protected] CENTER W.A. Harriman Campus, Bldg. 8 www.boedc.com www.restorationplaza.org 9 Bond St., 5th Fl. Albany , NY 12227-0155 Brooklyn, NY 11201 http://www.tax.ny.gov/ HUNTS POINT ECONOMIC DEVELOPMENT BLACK VETERANS FOR SOCIAL JUSTICE, 347-296-8021 518-485-2889 CORP. INC. www.nyc.gov/nycbusiness www.tax.ny.gov 355 Food Center Dr., Ste. C 104 Bronx, NY 10452 665 Willoughby Ave. Brooklyn, NY 11206 OPPORTUNITY DEVELOPMENT NYS DIVISION OF HOMELAND SECURITY 718-842-1717 718-852-6004 ASSOCIATION AND EMERGENCY SERVICES www.hpedc.org [email protected] 12 Heyward St. 518-242-5000 or 212-867-7060 www.bvsj.org Brooklyn, NY 11211 www.dhses.ny.gov/ NYCLGBTQS CHAMBER OF COMMERCE P.O. Box 6041 718-522-5620 BROOKLYN CHAMBER OF COMMERCE www.odabdc.org NYS ONLINE PERMIT ASSISTANCE Bronx, NY 10451 25 Elm Place, Ste. 200 AND LICENSING (OPAL) 347-547-6300 Brooklyn, NY 11201 POLISH & SLAVIC CENTER 40 N. Pearl St. www.nyclgbtcc.com 718-875-1000 176 Java St. Albany, NY 12220 www.ibrooklyn.com Brooklyn, NY 11222 518-474-8275 PROJECT ENTERPRISE 718-383-5290 [email protected] 199 Lincoln Ave. BROOKLYN ECONOMIC DEVELOPMENT [email protected] www.nys-opal.com Bronx, NY 10454 917-819-3182 CORPORATION www.psc.com Kingsborough Community College STATE OF NEW YORK BANKING DEPT. www.projectenterprise.org 2001 Oriental Blvd., T-4 Bldg. SOUTH BROOKLYN BUSINESS OUTREACH One State St. Brooklyn, NY 11235 CENTER (BOC) New York, NY 10004-1511 SOUTH BRONX OVERALL ECONOMIC 718-368-6790 1546 Coney Island Ave. 877-226-5697 DEVELOPMENT CORP. [email protected] Brooklyn, NY 11230 www.banking.state.ny.us 555 Bergen Ave. Bronx, NY 10455 www.bedc.org 718-253-5262 718-292-3113 [email protected] www.sobro.org www.bocnet.org

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 53 OTHER ASSISTANCE

SOUTHWEST BROOKLYN MANHATTAN HARLEM BUSINESS ALLIANCE NATIONAL ASSOCIATION OF INDUSTRIAL DEVELOPMENT CORP. 275 Lenox Ave., 2nd Fl. WOMEN BUSINESS OWNERS 241 41st St., 2nd Fl. OFFICE OF MANHATTAN BOROUGH New York, NY 10027 New York City Chapter Brooklyn, NY 11232 PRESIDENT 212-665-7010 P.O. Box 20126 718-965-3100 One Centre St., 19th Fl. www.hbany.org West Village Station [email protected] New York, NY 10007 New York, NY 10014 www.sbidc.org 212-669-8300 HARLEM COMMUNITY DEVELOPMENT 212-252-1100 www.mbpo.org CORPORATION [email protected] DUTCHESS 163 W. 125th St. www.nawbonyc.org MANHATTAN COUNTY CLERK OFFICE New York, NY 10027 OFFICE OF DUTCHESS COUNTY EXECUTIVE N.Y. County Clerk 212-961-4100 NATIONAL GAY & LESBIAN County Office Bldg. 60 Centre St., Rm. 103B [email protected] CHAMBER OF COMMERCE 22 Market St., 6th Fl. New York, NY 10007 http://harlemcdc.com 116 W.23rd St. Ste.5 Poughkeepsie, NY 12601 646-386-5939 New York, NY 10011 845-486-2100 HARLEM CONGREGATION FOR 646-383-6043 www.co.dutchess.ny.us 100 HISPANIC WOMEN. INC. COMMUNITY IMPROVEMENT [email protected] 413 E. 120th St., Rm. 314 2854 Frederick Douglass Blvd. DUTCHESS COUNTY CLERK OFFICE New York, NY 10035 New York, NY 10039 NATIONAL MINORITY BUSINESS COUNCIL, 22 Market St. 347-649-3188 212-281-4887 INC. Poughkeepsie, NY 12601 www.100hispanicwomen.org www.hcci.org 1633 Broadway 30th Fl. 845-486-2120 New York, NY 10271 www.co.dutchess.ny.us ABYSSINIAN DEVELOPMENT HARLEM ENTERPRENURIAL FUND 347-289-7620 CORPORATION 361 W. 125th St. [email protected] DUTCHESS COUNTY ECONOMIC 4-14 W. 125th St. New York, NY 10027 www.nmbc.org DEVELOPMENT CORPORATION New York, NY 10027 212-749-0900 3 Neptune Rd. 212-996-2990 www.harlemcommonwealth.org NYC BUSINESS SOLUTIONS LOWER Poughkeepsie, NY 12601 www.abcorp.org MANHATTAN CENTER 845-463-5400 HISPANIC FEDERATION 79 John St. www.thinkdutchess.com ASIAN AMERICAN BUSINESS 55 Exchange Place, 5th Fl. New York, NY 10038 DEVELOPMENT CENTER, INC. New York, NY 10005 212-618-8914 DUTCHESS COUNTY INDUSTRIAL 80 Wall St., Ste. 418 212-233-8996 www.nyc.gov/nycbusiness DEVELOPMENT AGENCY New York, NY 10005 [email protected] 3 Neptune Rd. 212-966-0100 www.hispanicfederation.org NYC BUSINESS SOLUTIONS UPPER Poughkeepsie, NY 12601 [email protected] MANHATTAN CENTER 845-463-5415 www.aabdc.com HOPE INSIDE 361 W. 125th St. www.dutchesscountyida.org Popular Community Bank New York, NY 10027 ASIAN WOMEN IN BUSINESS 231 W. 125th St. 212-749-0900 ext. 125 DUTCHESS COUNTY REGIONAL 42 Broadway, Ste. 1748 New York, NY 10027 www.nyc.gov/nycbusiness CHAMBER OF COMMERCE New York, NY 10004 Stephanie N. Penceal One Civic Center Plz., Ste. 400 212-868-1368 Small Business Program Manager NYC BUSINESS SOLUTIONS WASHINGTON Poughkeepsie, NY 12601 [email protected] 917-244-6303 HEIGHTS CENTER 845-454-1700 www.awib.org [email protected] 560 W. 181st St., 2nd Fl. www.dutchesscountyregionalchamber.org www.operationhope.org New York, NY 10033 AUDOBON PARTNERSHIP FOR ECONOMIC 212-749-0900 ext. 126 South Office DEVELOPMENT, LDC INDUSTRIAL & TECHNOLOGY ASSISTANCE www.nyc.gov/nycbusiness 33 Henry St. 513 W. 207th St. CORPORATION (ITAC) Beacon, NY 12508 New York, NY 10034 39 Broadway, Ste. 1110 NYC DEPARTMENT OF SMALL BUSINESS 845-454-1700 212-544-2400 New York, NY 10006 SERVICES

OTHER ASSISTANCE www.dutchesscountyregionalchamber.org www.audobonpartnership.org 212-809-3900 110 William St. www.itac.org New York, NY 10038 HYDE PARK CHAMBER OF COMMERCE EAST HARLEM CHAMBER OF COMMERCE 212-513-6300 5389 Albany Post Rd. 217 E. 116th St. LEGAL REFERRAL SERVICE www.nyc.gov/smallbiz Hyde Park, NY 12538 New York, NY 10029 New York City Bar Association 845-229-8612 212-996-2288 42 W. 44th St. NYC ECONOMIC DEVELOPMENT CORP. www.hydeparkchamber.org www.eastharlemchamber.com New York, NY 10036 110 William St. 212-626-7373 New York, NY 10038 RED HOOK AREA GREATER HARLEM www.nycbar.org 888-NYC-0100 CHAMBER OF COMMERCE CHAMBER OF COMMERCE www.nycedc.com P.O. Box 254 200A W. 136th St. LOWER MANHATTAN Red Hook, NY 12571 New York, NY 10030 DEVELOPMENT CORPORATION NYC HISPANIC CHAMBER OF COMMERCE 845-758-0824 212-862-7200 One Liberty Plaza, 20th Fl. 159 E. 116th St. [email protected] www.greaterharlemchamber.org New York, NY 10006 New York, NY 10029 http://redhookchamber.org 212-962-2300 646-429-8516 GREATER NEW YORK www.renewnyc.com [email protected] RHINEBECK CHAMBER OF COMMERCE CHAMBER OF COMMERCE www.nychcc.com 23F E. Market St. 20 W. 44th St. MANHATTAN CHAMBER OF COMMERCE Rhinebeck, NY 12572 New York, NY 10036 1375 Broadway, 3rd Fl. NEW YORK COALITION OF BLACK 845-876-5904 212-686-7220 New York, NY 10018 ARCHITECTS [NYCOBA] [email protected] www.ny-chamber.com 212-479-7772 P.O. Box 2455 Church St. Station www.rhinebeckchamber.com [email protected] New York, NY 10008 www.manhattancc.org www.nycoba.org

54 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny OTHER ASSISTANCE

NEW YORK TECHNOLOGY COUNCIL UPPER MANHATTAN EMPOWERMENT LONG BEACH CITY DEPARTMENT OF GOSHEN CHAMBER OF COMMERCE 330 Madison Ave. , 6th Fl. ZONE PLANNING & COMMUNITY DEVELOPMENT 223 Main St. New York, NY 10017 290 Lenox Ave. 1 W. Chester St. Goshen, NY 10924 646-435-1088 New York, NY 10027 Long Beach, NY 11561 845-294-7741 www.nytech.org 212-410-0030 516-431-1000 [email protected] www.umez.org www.longbeachny.org www.goshennychamber.com NYC LGBT CHAMBER OF COMMERCE P.O. Box 6041 WASHINGTON HEIGHTS & INWOOD LONG ISLAND AFRICAN AMERICAN HUDSON VALLEY ECONOMIC Bronx, NY 10451 LOCAL DEVELOPMENT CORPORATION CHAMBER OF COMMERCE, INC. (LIAACC) DEVELOPMENT CORPORATION 347-547-6300 57 Wadsworth Ave. John L Scott, Chairman 4 Crotty Ln. www.nyclgbtcc.com New York, NY 10033 Phil Andrews, President New Windsor, NY 12553 212-795-1600 P.O. Box 7010 845-220-2244 NYC SMALL BUSINESS RESOURCE CENTER www.whidc.org Freeport, New York 11520 [email protected] Science, Industry and Business Library 347-475-7158 or 516-639-4762 www.hvedc.com 188 Madison Ave. WOMEN’S INITIATIVE [email protected] New York, NY 10016 22 Cortlandt St. 12th Fl. www.liaacc.org HUDSON VALLEY TECHNOLOGY www.nypl.org/smallbiz New York, NY 10007 DEVELOPMENT CENTER, INC. 646-649-2258 LONG ISLAND HISPANIC 1450 Rt. 300, Bldg. 1, Ste. 1 NEW YORK STATE FEDERATION OF www.womensinitiative.org CHAMBER OF COMMERCE Newburgh, NY 12550 HISPANIC CHAMBERS OF COMMERCE 15 Atlantic Ave. 845-229-8612 2710 Broadway, 2nd Fl. WORKSHOP IN BUSINESS OPPORTUNITIES Lynbrook, NY 11563 www.hydeparkchamber.org New York, NY 10025 22 Cortlandt St., 16th Fl. 516-256-2483 212-222-8300 or 646-801-2710 New York, NY 10007 www.lihcc.com ORANGE COUNTY [email protected] 212-684-0854 ext. 104 CHAMBER OF COMMERCE www.nysfhcc.com www.wibo.org NASSAU COUNCIL OF 30 Scotts Corners Dr. CHAMBER OF COMMERCE Montgomery, NY 12549 NEW YORK WOMEN’S NASSAU 308 E. Meadow Ave. 845-457-9700 CHAMBER OF COMMERCE East Meadow, NY 11554 [email protected] 1524 Amsterdam Ave. OFFICE OF NASSAU COUNTY EXECUTIVE 516-396-0200 www.orangeny.com New York, NY 10031 1550 Franklin Ave. www.ncchambers.org 212-491-9640 Mineola, NY 11501 ORANGE COUNTY INDUSTRIAL [email protected] 516-571-3131 NASSAU COUNTY INDUSTRIAL DEVELOPMENT AGENCY www.nywcc.org www.nassaucountyny.gov DEVELOPMENT CORP (IDA). County Government Center 1550 Franklin Ave., Ste. 235 255 Main St. PROFESSIONAL WOMEN IN NASSAU COUNTY CLERK OFFICE Mineola, NY 11501 Goshen, NY 10924 CONSTRUCTION 240 Old County Rd. 516-571-1745 845-234-4192 OTHER ASSISTANCE 315 E. 56th St. Mineola, NY 11501 www.nassaucountyny.gov [email protected] New York, NY 10022 516-571-2664 www.orangecountygov.com 212-486-7745 www.nassaucountyny.gov/agencies/Clerk/ NASSAU COUNTY OFFICE OF MINORITY [email protected] AFFAIRS ORANGE COUNTY PARTNERSHIP www.pwcusa.org FREEPORT COMMUNITY DEVELOPMENT 40 Main St., 3rd Fl. 40 Matthew St., Ste. 108 AGENCY Hempstead, NY 11550 Goshen, NY 10924 SAVVY LADIES 46 N. Ocean Ave. 516-572-1933 845-294-2323 39 Broadway, Ste. 1730 Freeport, NY 11520 [email protected] New York, NY 10006 516-377-2203 NASSAU COUNTY DEPT OF PUBLIC WORKS www.ocpartnership.org 646-216-8988 www.freeportny.com 1194 Prospect Ave. [email protected] Westbury, NY 11590-2723 SUGAR LOAF CHAMBER OF COMMERCE www.savvyladies.org GLEN COVE COMMUNITY DEVELOPMENT 516-571-9604 P.O. Box 125 AGENCY Sugar Loaf, NY 10981 SMALL BUSINESS MAJORITY 9 Glenn St. OYSTER BAY TOWN DEPARTMENT OF [email protected] 220 E. 23rd St., Rm. 809 Glen Cove, NY 11542 PLANNING & DEVELOPMENT www.sugaroafnewyork.com New York, NY 10010 516-676-1625 74 Audrey Ave. 212-231-9750 www.glencovecda.org Oyster Bay, NY 11771 TRI-STATE CHAMBER OF COMMERCE www.smallbusinessmajority.org 516-624-6200 5 S. Broome St./P.O. Box 121 HEMPSTEAD TOWN DEPARTMENT OF www.oysterbaytown.com Port Jervis, NY 12771 THE THYPIN OLTCHICK INSTITUTE FOR PLANNING & ECONOMIC DEVELOPMENT 845-856-6694 WOMEN’S ENTREPRENEURSHIP@FEGS 200 N. Franklin St. ORANGE [email protected] 315 Hudson St.,1st Fl. Hempstead, NY 11550 www.tristatechamber.org New York, NY 10013 516-538-7100 OFFICE OF ORANGE COUNTY EXECUTIVE 40 Matthews St. 212-366-0033 www.toh.li WARWICK VALLEY Goshen, NY 10924 [email protected] CHAMBER OF COMMERCE 845-291-2700 www.yourfutureinbusiness.org HEMPSTEAD TOWN LOCAL DEVELOPMENT P.O. Box 202 [email protected] CORPORATION Warwick, NY 10990 www.orangecountygov.com TURKISH-AMERICAN 350 Front St. 845-986-2720 CHAMBER OF COMMERCE Hempstead, NY 11550 [email protected] ORANGE COUNTY CLERK OFFICE 2 W. 45th St., Ste. 1709 516-489-5000 www.warwickcc.org 4 Glenmere Cove Rd. New York, NY 10036 www.toh.li Goshen, NY 10924 212-354-5470 845-291-2690 [email protected] www.orangecountygov.com www.turkishuschamber.org

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 55 OTHER ASSISTANCE

PUTNAM QUEENS MASPETH CHAMBER OF COMMERCE ROCKLAND COUNTY CLERK OFFICE P.O. Box 780265 Rockland County Courthouse OFFICE OF PUTNAM COUNTY EXECUTIVE OFFICE OF QUEENS BOROUGH PRESIDENT Maspeth, NY 11378 One S. Main St., Ste. 100 Putnam County Office Bldg. 120-55 Queens Blvd. 718-779-1111 New City, NY 10956 40 Gleneida Ave. Kew Gardens, NY 11424 [email protected] 845-638-5070 Carmel, NY 10512 718-286-3000 www.maspethchamberofcommerce.org www.rocklandcountyclerk.com 845-808-0001 www.queensbp.org www.putnamcountyny.com NYC BUSINESS SOLUTIONS QUEENS PROCUREMENT TECHNICAL ASSISTANCE QUEENS COUNTY CLERK OFFICE CENTER CENTER (PTAC) PUTNAM COUNTY CLERK OFFICE 88-11 Sutphin Blvd., Rm. 106 168-25 Jamaica Ave., 2nd Fl. Two Blue Hill Plaza Putnam County Office Bldg. Jamaica, NY 11435 Jamaica, NY 11432 Pearl River, NY 10965 40 Gleneida Ave., Rm. 100 718-520-3137 718-577-2148 845-735-7040 Carmel, NY 10512 www.nycourts.gov www.nyc.gov/nycbusiness [email protected] 845-808-1142 www.redc.org www.putnamcountyny.com ASSOCIATION OF MINORITY BOROUGH OF QUEENS ENTERPRISES OF NEW YORK, INC. ECONOMIC DEVELOPMENT ROCKLAND BUSINESS ASSOCIATION BREWSTER CHAMBER OF COMMERCE 135-20 Liberty Ave., 2nd Fl. 120-55 Queens Blvd. One Blue Hill Plz./P.O.Box 1567 16 Mount Ebo Rd. S., Ste. 12A Richmond Hill, NY 11419 Kew Gardens, NY 11424 Pearl River, NY 10965 Brewster, NY 10509 718-291-1641 718-286-2655 845-735-2100 845-279-2477 [email protected] www.queensbp.org [email protected] [email protected] www.ameny.org www.rocklandbusiness.org www.brewsterchamber.com QUEENS CHAMBER OF COMMERCE ROCKAWAY CHAMBER OF COMMERCE 75-20 Astoria Blvd., Ste. 140 ROCKLAND ECONOMIC DEVELOPMENT GREATER MAHOPAC-CARMEL 253 Beach 116th St. Jackson Heights, NY 11370 CORP. CHAMBER OF COMMERCE Far Rockaway, NY 11694 718-898-8500 Two Blue Hill Plz./P.O. Box 1575 953 S. Lake Blvd. 718-979-7030 [email protected] Pearl River, NY 10965 Mahopac, NY 10541 www.rockawaychamberofcommerce.com www.queenschamber.org 845-735-2100 845-628-5553 [email protected] www.mahopaccarmelchamber.com FLUSHING CHINESE BUSINESS QUEENS ECONOMIC DEVELOPMENT CORP. www.redc.org ASSOCIATION 120-55 Queens Blvd., #309 PUTNAM COUNTY 40-48 Main St., Ste. 302 Kew Gardens, NY 11424 ROCKLAND WOMEN’S BUSINESS CHAMBERS OF COMMERCE Flushing, NY 11354 718-263-0546 NETWORK 953 South Lake Blvd. 718-353-2320 www.queensny.org P.O. Box 182 Mahapac, NY 10541 www.fcbainc.org Tallman, NY 10983 845-228-8595 ROCKAWAY DEVELOPMENT AND 845-729-9497 [email protected] FOREST HILLS CHAMBER OF COMMERCE REVITALIZATION CORPORATION [email protected] www.putnamchamberny.comPutnam P.O. Box 1123 1920 Mott Ave., Ste. 2 www.rbwn.org Forest Hills, NY 11375 Far Rockaway, NY 11691 COUNTY ECONOMIC 718-268-6565 718-327-5300 SUFFERN CHAMBER OF COMMERCE DEVELOPMENT CORPORATION [email protected] [email protected] 71 Lafayette Ave. 40 Gleneida Ave. www.foresthillchamber.org www.rdrc.org Suffern, NY10901 Carmel, NY 10512 845-357-8424 845-808-1021 HISPANIC CHAMBER OF COMMERCE SUTPHIN BOULEVARD DISTRICT www.suffernchamberofcommerce.com [email protected] OF QUEENS MANAGEMENT ASSOCIATION www.putnamedc.org 24-16 Queens Plaza S., Ste. 502 BUSINESS IMPROVEMENT DISTRICT STATEN ISLAND Long Island City, NY 11101 89-00 Sutphin Blvd. PUTNAM COUNTY INDEPENDENT www.hccq.org Jamaica, NY 11435 OFFICE OF STATEN ISLAND BOROUGH BUSINESS ALLIANCE 718-291-2110 PRESIDENT

OTHER ASSISTANCE 97 Old Rte. 6, Ste. 10 JAMAICA CHAMBER OF COMMERCE [email protected] Borough Hall Carmel, NY 10512 157-11 Rockaway Blvd. www.sutphinblvdbid.org 10 Richmond Terrace 845-228-8300 Jamaica, NY 11431 Staten Island, NY 10301 [email protected] 718-413-7182 ZHEJIANG CHAMBER OF COMMERCE 718-816-2000 www.pciba.org [email protected] OF AMERICA www.statenislandusa.com www.jamaicachamber.org 136-20 38th Ave., Ste. 10i PUTNAM COUNTY INDUSTRIAL http://jamaicachambernyc.org Flushing, NY 11354 STATEN ISLAND/RICHMOND COUNTY DEVELOPMENT AGENCY 718-395-8150 CLERK OFFICE 34 Gleneida Ave. JFK AIRPORT CHAMBER OF COMMERCE www.zccausa.org 130 Stuyvesant Place, 2nd Fl. Carmel, NY 10512 P.O. Box 300687-JFK Int’l Airport Staten Island, NY 10301 845-228-8066 Jamaica, NY 11430 ROCKLAND 718-675-7700 [email protected] 718-551-1593 www.richmondcountyclerk.com www.putnamida.org [email protected] OFFICE OF ROCKLAND COUNTY www.jfk-airport.org EXECUTIVE NYC BUSINESS SOLUTIONS STATEN PUTNAM VALLEY BUSINESS ASSOCIATION Rockland County Government Center ISLAND CENTER 126 Hewitt St. LONG ISLAND CITY PARTNERSHIP 11 New Hempstead Rd. 120 Stuyvesant Place, 3rd Fl. Lake Peekskill, NY 10579 27-01 Queens Plaza N., 9th Fl. New City, NY 10956 Staten Island, NY 10301 845-603-6043 Long Island City, NY 11101 845-638-5122 718-285-8400 [email protected] 718-786-5300 www.co.rockland.ny.us www.nyc.gov/nycbusiness www.pvba.org www.licpartnership.org

56 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny OTHER ASSISTANCE

NYS DEPARTMENT OF LABOR TOWN OF BROOKHAVEN SULLIVAN NEW PALTZ REGIONAL 1141 Hylan Blvd. DIVISION OF ECONOMIC DEVELOPMENT CHAMBER OF COMMERCE Staten Island, NY 10305 One Independence Hill OFFICE OF SULLIVAN COUNTY MANAGER 257 Main St. 718-390-8341 Farmingville, NY 11738 Sullivan County Government Center New Paltz, NY 12561 www.labor.ny.gov 631-451-6563 100 North St. 845-255-0243 www.brookhaven.org Monticello, NY 12701 [email protected] STATEN ISLAND 845-807-0450 www.newpaltzchamber.org CHAMBER OF COMMERCE SUFFOLK COUNTY DEPARTMENT OF www.co.sullivan.ny.us 130 Bay St. ECONOMIC DEVELOPMENT SOUTHERN ULSTER COUNTY Staten Island, NY 10301 H. Lee Dennison Bldg. SULLIVAN COUNTY CLERK OFFICE CHAMBER OF COMMERCE 718-727-1900 P.O. Box 6100 Sullivan County Government Center 20 Milton Ave. Ste. 3. [email protected] Happauge, NY 11788 100 North St. Highland, NY 12528 www.sichamber.com 631-853-4800 Monticello, NY 12701 845-691-6070 www.co.suffolk.ny.us 845-807-0411 [email protected] STATEN ISLAND ECONOMIC www.co.sullivan.ny.us www.southernulsterchamber.org DEVELOPMENT CORPORATION SUFFOLK COUNTY 900 S. Ave., Ste. 402 INDUSTRIAL DEVELOPMENT AGENCY COUNTY OF SULLIVAN INDUSTRIAL ULSTER COUNTY REGIONAL Staten Island, NY 10314 631-853-4802 DEVELOPMENT AGENCY CHAMBER OF COMMERCE 718-477-1400 One Cablevision Center 214 Fair St. www.siedc.org EAST HAMPTON TOWN HALL Ferndale, NY 12734 Kingston, NY 12401 Supervisor’s Office 845-295-2603 845-338-0968 WEST BRIGHTON COMMUNITY LOCAL 159 Pantigo Rd. www.sullivanida.com www.ulsterchamber.org DEVELOPMENT CORP. East Hampton, NY 11937 705 Forest Ave., 2nd Fl. Rear 631-324-4140 ECONOMIC DEVELOPMENT CORPORATION ULSTER COUNTY DEVELOPMENT Staten Island, NY 10310 www.town.east-hampton.ny.us OF SULLIVAN COUNTY CORPORATION 718-816-4775 Sullivan County Government Center 5 Development Ct. [email protected] EMPIRE STATE DEVELOPMENT 100 North St. Kingston, NY 12401 www.westbrightenldc.com Long Island Regional Office Monticello, NY 12701 845-338-8840 150 Motor Pkwy. 845-807-0541 www.ulsterny.com SUFFOLK Hauppauge, NY 11788 [email protected] 631-435-0717 http://CatskillsEDC.com WESTCHESTER OFFICE OF SUFFOLK COUNTY EXECUTIVE H. Lee Dennison Bldg. THE VILLAGE OF GREENPORT SULLIVAN COUNTY OFFICE OF WESTCHESTER COUNTY P.O. Box 6100 DEPARTMENT OF COMMUNITY CHAMBER OF COMMERCE EXECUTIVE Hauppauge, NY 11788 DEVELOPMENT 457 Broadway, Ste. 1. Michaelian Office Bldg. 631-853-4000 236 3rd St. Monticello, NY 12701 148 Martine Ave. OTHER ASSISTANCE [email protected] Greenport, NY 11944 845-791-4200 White Plains, NY 10601 www.co.suffolk.ny.us 631-477-2391 [email protected] 914-995-2900 www.thevillageofgreenport.org www.catskills.com www.westchestergov.com SUFFOLK COUNTY CLERK OFFICE 310 Center Dr. TOWN OF HUNTINGTON SULLIVAN COUNTY PARTNERSHIP WESTCHESTER COUNTY CLERK OFFICE Riverhead, NY 11901-3392 ECONOMIC DEVELOPMENT CORPORATION FOR ECONOMIC DEVELOPMENT AND 110 Martin Luther King Jr. Blvd. 631-852-2000 100 Main St., Ste. 200 INDUSTRIAL DEVELOPMENT AGENCY White Plains, NY 10601 www.suffolkcountyny.gov Huntington, NY 11743 198 Bridgeville Rd. 914-995-3080 631-351-2847 Monticello, NY 12701 www.westchestergov.com SUFFOLK COUNTY DEPARTMENT OF http://town.huntington.ny.us 845-794-1110 ECONOMIC DEVELOPMENT [email protected] AFRICAN AMERICAN 631-853-4800 TOWN OF ISLIP www.scpartnership/com CHAMBER OF COMMERCE OFFICE OF ECONOMIC DEVELOPMENT Westchester and Rockland Counties SUFFOLK COUNTY 40 Nassau Ave., Ste. 7 ULSTER 100 Stevens Ave., Ste. 202 INDUSTRIAL DEVELOPMENT AGENCY Islip, NY 11751 Mount Vernon, NY 10550 H.Lee Dennison Bldg. 631-224-5512 OFFICE OF ULSTER COUNTY EXECUTIVE 914-699-9050 100 Veterans Memorial Hwy. [email protected] Ulster County Office Bldg. [email protected] Hauppauge, NY 11788 www.islipida.com 244 Fair St./P.O. Box 1800 www.aaccnys.org 631-853-4802 Kingston, NY 12402 LONG ISLAND ASSOCIATION 845-340-3800 BUSINESS COUNCIL OF WESTCHESTER SUFFOLK COUNTY 300 Broad Hollow Rd. [email protected] 108 Corporate Park Dr., Ste. 101 OFFICE OF MINORITY AFFAIRS Melville, NY 11747 www.ulstercountyny.gov White Plains, NY 10604 H.Lee Dennison Bldg., 3rd Fl. 631-493-3000 914-948-2110 100 Veterans Memorial Hwy. www.longislandassociation.com ULSTER COUNTY CLERK OFFICE www.westchesterny.org Hauppauge, NY 11788 Ulster County Office Bldg. 631-853-4738 SUFFOLK COUNTY EXECUTIVE 244 Fair St. DOWNTOWN NEW ROCHELLE BUSINESS H. Lee Dennison Bldg. Kingston, NY 12402 IMPROVEMENT DISTRICT BROOKHAVEN COALITION OF CHAMBERS P.O. Box 6100 845-340-3288 41-43 Westchester Place TOWN OF BROOKHAVEN Hauppauge, NY 11788 www.co.ulster.ny.us New Rochelle, NY 10801 Industrial Development Agency 631-853-4000 914-576-5332 One Independence Hill www.co.suffolk.ny.us www.newrochelledowntown.com Farmingville, NY 11738 631-451-6563 www.brookhavenida.org

Visit us online: www.sba.gov/ny/ny New York Small Business Resource — 57 OTHER ASSISTANCE

HUDSON VALLEY GATEWAY NEW ROCHELLE WESTCHESTER HISPANIC WHITE PLAINS PUBLIC LIBRARY CHAMBER OF COMMERCE CHAMBER OF COMMERCE CHAMBER OF COMMERCE 100 Martine Avenue 1 S. Division St. 459 Main St., Ste. 204 405 Tarrytown Rd., Ste. 1382 White Plains, NY 10601 Peekskill, NY 10566 New Rochelle, NY 10801 White Plains, NY 10607 914-422-6979 914-737-3600 914-632-5700 914-328-7181 www.whiteplainslibrary.org www.hvgatewaychamber.com www.newrochellechamber.org www.whccny.com YONKERS CHAMBER OF COMMERCE MAMARONECK CHAMBER OF COMMERCE TARRYTOWN/SLEEPY HOLLOW WESTCHESTER COUNTY OFFICE OF 55 Main St., 2nd Fl. 430 Center Ave. CHAMBER OF COMMERCE ECONOMIC DEVELOPMENT, INC. Yonkers, NY 10701 Mamaroneck, NY 10543 2 Nepperham Rd. 148 Martine Ave. 914-963-0332 914-698-4400 Tarrytown, NY 10591 White Plains, NY 10601 www.yonkerschamber.com www.mamaroneckchamberorcommerce.org 914-631-1705 914-995-2963 www.sleepyhollowchamber.com www.thinkingwestchester.com YONKERS OFFICE OF ECONOMIC MOUNT VERNON DEVELOPMENT CHAMBER OF COMMERCE WESTCHESTER EXPORT ASSISTANCE WESTCHESTER HISPANIC COALITION 87 Nepperham Rd. P.O. Box 351 CENTER 46 Waller Ave. Yonkers, NY 10701 Mount Vernon, NY 10550 U.S. Department of Commerce White Plains, NY 10605 914-377-6797 888-716-2460 707 Westchester Ave., Ste. 209 914-948-8466 www.yonkersny.gov www.mtvernonchamber.org White Plains, NY 10604 www.hispaniccoalition.org 914-682-6712 www.usatrade.gov

SUCCESS SBIR Program Adds Up For New York Small Business STORY New York City’s Teachley, LLC. is proving that learning elementary school math can be all fun and games.

The education technology firm founded in “We were already working on research grants More importantly, 2011 by three graduate students Dana Pagar, when a faculty advisor told us about the SBIR Teachley has created Kara Carpenter and Rachael Labrecque, is program. It was a lot different than university four technology-sector receiving accolades for a new iPad application grants we worked with because of the focus jobs. to help young children learn addition. The on commercialization,” said Labrecque. “We are working on app, called “Addimal Adventure”, uses Financing for Addimal Adventure did not bringing “Addimal different games to teach learning strategies for come in one lump sum. Under the SBIR Adventure” and solving addition problems. With the success program, financing occurred in two phases. our new app “Mt. of their first app, Teachley recently launched Teachley received their Phase I cash award Multiplis” to the its newest math app called “Mt. Multiplis” of $150,000 from the U.S. Department of commercial market. designed to help struggling students master Education in 2012 where they had to prove From January to multiplication skills. the technical merit, feasibility, and commercial May, we offered a “Kara, Dana and I were graduate students potential of their math app as well as show pilot learning analytics program for free at Teachers College at Columbia University. their company could perform the tasks to to elementary teachers using Addimal We were working on a research grant to develop it further. Adventure in their classrooms. Over 80 develop math software, which was still a “With the award, we started working on teachers in 36 schools in 12 states participated relatively new concept. As we worked, we Addimal Adventure with an app concept we and we’re implementing some of their saw a disconnect with commercial products had already started developing earlier. Our recommendations for the launch of our and apps not coinciding with what research app was in more advanced designing stages Learning Analytics Platform for schools this shows about young learners,” said Teachley than most Phase I products,” said Labrecque. fall,” said Labrecque. OTHER ASSISTANCE co-founder Rachael Labrecque. “We decided Having proven their math app met the Teachley has another year on the current to develop our own math apps for kids based scientific and technical merit and commercial Phase II SBIR grant and expects to see the upon cognitive research.” potential of Phase I grants, Teachley applied return of their commercialization efforts Teachley credits their small business and received $900,000 more in funding under with the launch of their Learning Analytics success to their ability to access start-up and Phase II of the SBIR program in 2013. Platform this fall. development financing through the Small “Our Phase II funding request was very Since passage the Small Business Innovation Business Innovation Research (SBIR) program. strong. We had joined Socratic Labs, a New Development Act which led to the creation Coordinated by the U.S. Small Business York City community accelerator focused of the SBIR program, thousands of small Administration, the SBIR program provides on education technology, and that helped businesses have seized the opportunity cash awards to qualified small businesses with the commercialization aspect. Working to compete for federal research and from more than a dozen federal agencies with a variety of business mentors helped us development awards. In New York alone, to stimulate research and development in develop a strong commercialization plan,” more than 6584 awards totaling more than the technology arena. The program was said Labrecque. $1.7 billion have inspired technology-focused created in the 1980s and exists to encourage Teachley’s Addimal Adventure app won a small businesses like Teachley. These small entrepreneurs to explore technological 2014 Apple Design Award at the Worldwide businesses are making lasting contributions innovation; meet research and development Developer Conference (WWDC) in San to the nation’s education system, national needs of the federal government; bring Francisco, where iOS apps are recognized defense, environmental stewardship, health private-sector technological innovations to the for outstanding design and innovation. care advances, and more. More information commercial market; and assist socially and Last October, Teachley finished second, on the SBIR program can be found online at: economically disadvantaged persons enter just narrowly missing top honors, at NBC’s http://www.sbir.gov. this competitive arena. Education Nation Innovation Challenge.

58 — New York Small Business Resource Visit us online: www.sba.gov/ny/ny On the Cover: A PASSION FOR FASHION + E COMMERCE = SUCCESS Early SBA-Backed Investment and Business Advice Sets Brandywine Valley Fashionistas up to Take the Fashion World by Storm Like most teenage girls attending high school, best friends Amy Trelenberg and Megan Healy loved to shop for new clothes. Unlike most of their peers, they dreamed of owning their own store filled with trendy and affordable clothes. As adults, they actually opened the shop of their dreams. All with the help of the SBA…And a little patience. Throughout college, Trelenberg and Healy maintained their friendship and their shopping habit. They continued to shop together and still dreamed of owning a boutique. Healy majored in merchandising management and Trelenberg studied accounting, setting the stage for a very fashionable entrepreneurial future. Together, they crafted a business plan around their childhood concept of a trendy, fashionable and affordable retail store. Determined to bring Brandywine Valley fashion sense center stage, Trelenberg and Healy turned to the SBA and SBA Women’s Business Representative Arlene Brex—herself a veteran of the fashion world, having owned designer fashion stores in Seattle and Portland for 12 years. After a series of business counseling sessions with Brex, Trelenberg and Healy restructured their business plan. They would break into the fashion marketplace as an e-commerce business with a supplemental ‘traveling boutique’ business hosting spectacular fashion showcase parties in private venues across the Brandywine Valley. Thus, Shopmamie—Trelenberg and Healy’s fashion enterprise bearing a fused version of their names, Megan and Amy—was born in 2008. Success created new concerns, including inventory maintenance and cash flow. Sales were strong, and their first show resulted in nearly a complete sellout of their inventory. Revisiting the SBA, Trelenberg and Healy secured a SBA guaranteed loan through a local lender to increase inventory and expand online marketing. Additionally, they received technical assistance and counseling from Paul Kalicky of the local SCORE chapter. So successful were these adjustments to the Mamie Girls, as they are now known, that a brick- and-mortar shop was now in sight and, in Fall 2013, Trelenberg and Healy opened the doors of their shop and never looked back. Since opening, the shop has seen record foot traffic and record sales. Today, along with their own private clothing line and brisk online sales, Trelenberg and Healy call their shop a success, and are looking to open a second retail location in the Brandywine Valley. They say “the entire process of starting Shopmamie.com has been a little surreal, a little crazy at times, and definitely hard work. It’s been scary, challenging, and demanding, albeit incredibly rewarding. We have impressed ourselves each step of the way, trusting and believing in our dream, and at the end of the day, we look at each other and realize…we love what we do.” www.SBA.gov • connect with us @ facebook.com/SBAgov twitter.com/sbagov youtube.com/sba