METRO NEW YORK EDITION 2020 Small Business resource guide

START GROW EXPAND YOUR BUSINESS 1 2 CONTENTS New York City Edition 2020

Local Business Funding Assistance Programs

8 National Success Story 26 National Success Story Jerado and Joyce Reynolds Jennifer and Jeff Herbert’s know their local landscape for meadery has expanded into a entrepreneurship support. multimillion dollar enterprise thanks to SBA assistance. 11 Local SBA Resource Partners 29 SBA Lenders

13 Your Advocates 33 Need Financing?

14 How to Start a Business 34 Go Global with International Trade 18 Workforce Recruitment 36 R&D Opportunities for 19 Emerging Leaders High Growth Startups

21 Opportunities for Veterans 38 National Success Story Cheeseburger Baby owner Write Your Business Plan 22 Stephanie Vitori persevered through a financial storm and a 25 Entrepreneurial Resources natural disaster.

42 Surety Bonds

Contracting

44 National Success Story Jennifer Rahn steers the course for Admiral Engineering, succeeding as a small business subcontractor.

48 SBA Certification Programs

49 Woman-Owned Small Business certification

ON THE COVER Gia Giasullo and Peter Freeman, courtesy of Brooklyn Farmacy & Soda Fountain; Dr. Mandë Holford, left, Jessica Ochoa Hendrix, courtesy of the SBA; Stephanie and Gabrie Vitori, courtesy of the SBA; Dawn Kelly, courtesy of the SBA 3 U.S. SMALL BUSINESS ADMINISTRATION A MESSAGE FROM THE ADMINISTRATOR

t is my honor to serve as Administrator among entrepreneurs in disadvantaged of the U.S. Small Business communities, and continuing to prioritize Administration, leading a dedicated disaster relief. team of talented individuals across Within this resource guide, you will learn AmericaI who are focused on helping more about the tremendous tools the SBA entrepreneurs start, grow, and expand provides small businesses through our 68 their small businesses. The SBA is here to District Offices and numerous Resource support the prosperity and longevity of our Partners, such as our Small Business nation’s small businesses with timely and Development Centers, our SCORE mentoring innovative resources to help them thrive in network, Women’s Business Centers, and today’s economy. America’s entrepreneurs Veterans Business Outreach Centers. Featured are innovators, risk-takers, and the catalyst in this guide are some of the remarkable for employment opportunities within their success stories of entrepreneurs who partnered communities, and they are what makes our with the SBA to take their businesses to the economy so strong and dynamic. next level. The SBA encourages you to also As we enter a new decade of possibilities, utilize these resources to help strengthen and small businesses have a remarkable meet your business goals. opportunity to continue building upon the Sincerely, success we’ve seen in our economy over the last three years. As the voice for America’s 30 million small businesses, I am eager to advocate on entrepreneurs’ behalf as a Jovita Carranza member of the President’s Cabinet. Whether SBA Administrator it’s seeking access to capital, government contracting opportunities, business mentoring, or assistance with disaster recovery, the SBA is ready and determined to help our customers succeed. The SBA remains committed to continuing our support of America’s entrepreneurs and making an even bigger impact in communities across the country. In particular, the SBA is focused on elevating female entrepreneurs and our military veterans, expanding access to SBA resources

WE MAKE SMALL BUSINESS OUR BUSINESS. START • GROW • EXPAND • RECOVER 4 U.S. SMALL BUSINESS ADMINISTRATION A MESSAGE FROM THE ADMINISTRATOR

5 PUBLISHED BY New South Media, Inc. 304.413.0104 | newsouthmedia.com

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The U.S. Small Business Administration’s Office of Marketing & Customer Service directs the publication of the Small Business Resource Guide under SBA Contract #SBAHQ-17-C-0018. SBA publication winter 2020 national edition #mcs-0134

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The SBA’s participation in this publication is not an endorsement of the views, opinions, products or services of the contractor or any advertiser or other participant appearing here. All SBA programs and services are extended to the public on a nondis- criminatory basis. Directory listings do not constitute or imply an endorsement by the SBA of any opinions, products, or services of any private individual or entity.

Printed in the United States of America.

While every reasonable effort has been made to ensure that the information con- tained here is accurate as of the date of publication, the information is subject to change without notice. The contractor that publishes this guide, the federal govern- ment, or agents thereof shall not be held liable for any damages arising from the use of or reliance on the information contained in this publication.

6 SBA New York District Office Serving the Five Boroughs of New York City, Long Island, Long Island Office and the Lower Hudson Valley 350 Motorway Parkway, suite 109 26 Federal Plaza, suite 3100 Hauppauge, NY 11788 New York, New York 10278 (631) 454-0750 (212) 264-4354 sba.gov/ny @SBA_NewYork

District Director Lender Relations Program Support District Director Letter Beth Goldberg Specialists Assistants elcome to the U.S. Small Business (212) 264-1318 Christopher Dalton Teresa Detelj Administration’s New York District Office [email protected] (212) 264-4352 (212) 264-1319 2020 Small Business Resource Guide. We christopher.dalton@ [email protected] sitW at the epicenter of one of the most diverse and Deputy District sba.gov Ana Hernandez culturally rich communities in the world. Our area Director Robin Daniels (212) 264.5664 includes 1.6 million small businesses employing over John Mallano (212) 264-1763 [email protected] five million people in the 14 counties that make up the (212) 264-1480 [email protected] [email protected] Metropolitan New York area. The SBA helps make the District Support American dream of small business ownership a reality. Business Opportunity Assistants Supervisory We are the only federal agency dedicated to helping Specialist Roland Stancione Economic our 30 million small businesses start, grow, expand, or Jennifer Krottinger (212) 264-4324 Development recover after a disaster. (212) 264-9487 roland.stancione@ Specialist Last year, small businesses in our area qualified jennifer.krottinger@ sba.gov Peter Fehnel for nearly $1 billion in SBA-backed loans from our sba.gov lending partners. These funds were then used to (212) 264-1472 Laura Morales [email protected] (212) 264-5711 buy equipment, build or renovate facilities, pursue Economic [email protected] exporting opportunities, and hire new employees. Development Supervisory Business The SBA also works with the U.S. Department of Specialists Andrea Spigner Opportunity Housing and Urban Affairs to increase investments in Elizabeth Abreu (212) 264-4354 Specialist Opportunity Zones. These zones often expand from (212) 264-2736 [email protected] Clyde Martin Historically Underutilized Business Zones, creating elizabeth.abreu@ (212) 264-5276 Joseph Farber economic possibility in low-income communities. sba.gov [email protected] (631) 454-0750 Our agency accomplishes all this because of our Sylvia Rivera [email protected] commitment to fostering entrepreneurship. To get Long Island Branch (212) 264-0996 started, contact our SBA office or visit one of our SBA Manager [email protected] Resource Partners. Starting on page 9, you will find Robert Piechota Elaine Powell-Belnavis listings for our free or low-cost business advisers, which (631) 454-0750 (212) 264-4330 include over 40 locations of the SBA Resource Partner robert.piechota@ elaine.powell. network in our district. sba.gov Stay up to date on events near you and get [email protected] valuable local business information by following us Administrative Man-Li Lin @SBA_NewYork. Register for email updates at Officer (212) 264-7060 sba.gov/updates. Use our Small Business Resource Marie White [email protected] Guide to power your dream of starting, growing (212) 264-9460 or expanding your small [email protected] Regional business. Communications Legal Counsel Director Sincerely, Diana St. Louis Matt Coleman (212) 264-7770 (212) 264-1450 [email protected] matthew.coleman@ sba.gov Beth L. Goldberg District Director 7 LOCAL BUSINESS ASSISTANCE

How We Did It Gia Giasullo & Peter Freeman Owners, Brooklyn Farmacy & Soda Fountain Cobble Hill, Brooklyn, NY COURTESY OF BROOKLYN FARMACY & SODA FOUNTAIN 8 LOCAL BUSINESS ASSISTANCE

fter struggling for a year and a half to find startup funding for their retro soda shop concept, Gia Giasullo and Peter Freeman turned to the SBA. With business guidance and SBA-backed loans, they set up shop in a former Brooklyn pharmacy, growing from a local destination to a tourist stop. At Brooklyn Farmacy, soda jerks prepare authentic Brooklyn-style egg creams and other beverages surrounded by nostalgic décor, Avintage medical paraphernalia and shelves stocked with local grocer items and penny candy. Gia and Peter continue to consult with their local Small Business The SBA New Development Center adviser, staying nimble and strategically growing in the challenging service/retail market. York District What was your challenge? Just after the national financial crisis, it was really hard for original business concepts like ours to secure startup funding. We weren’t able to qualify for Office and traditional financing because neither of us had the business experience or credit history. We did our best to present a compelling story to our area lenders, but we our SBDC were repeatedly turned down.

What was the solution? advisers We needed some business guidance to get to the point in which we could secure financing. The SBA funds and supports local resource partners like the Brooklyn helped us Small Business Development Center. Our business adviser helped us align our projections to more accurately reflect our actual growth and growth potential. Our adviser worked one-on-one with us for free, which was vital in those early gain key days. The SBA New York District Office and our SBDC advisers helped us gain key insights into marketing and small business management, which has paid insights into off long term. We were then able to pursue small business financing. The SBA guarantees loans made by lending institutions to small businesses that cannot find conventional financing elsewhere. We qualified for a $1 million SBA-backed marketing 504 Certified Development Company loan from NYBDC that helped us create jobs and become an economic force for good in our neighborhood. We later received an and small SBA-backed 7(a) loan of $600,000 for working capital.

What was the benefit to your business? business We employ about 20 in our Cobble Hill shop. We hire local youths, giving many of them their first jobs and a peek into small business ownership. management, which has paid off long term.” Gia Giasullo & Peter Freeman Owners, Brooklyn Farmacy & Soda Fountain

Brooklyn Farmacy Co-owner Peter Freeman

9 LOCAL BUSINESS ASSISTANCE

SBA Resource Partners No matter your industry, location, or experience, if you have a dream, the SBA is here to help you achieve it. Our SBA Resource Partners offer mentoring, counseling, and training to help you startup and thrive at all stages of the business life cycle. These independent organizations operating across the United States and U.S. territories are funded through SBA cooperative agreements or grants.

SMALL BUSINESS DEVELOPMENT CENTERS

Achieve your dream of business ownership and remain competitive in an ever-changing global economy with assistance from your local SBDC. Access free counseling and free or low- + cost training on topics like regulatory compliance, technology 950 development, and international trade. Find an SBDC adviser at Small Business sba.gov/sbdc. Development Centers

SCORE

Join the ranks of other business owners who have experienced higher revenues and increased growth thanks to SCORE, the nation’s largest network of volunteer business mentors. Experienced + executives share real-world knowledge to fit your busy schedule. 300 SCORE mentors are available for free as often as you need, in person, SCORE chapters via email or over video chat. Find a mentor at sba.gov/score.

WOMEN’S BUSINESS CENTERS

Women entrepreneurs receive essential business counseling and training from this national network of community-based centers. Each center tailors its services to help you navigate the challenges + women often face when starting or growing a business. To learn 100 about SBA resources for women visit sba.gov/women. Women’s Business Centers

VETERANS BUSINESS OUTREACH CENTERS

Veteran and military entrepreneurs receive business training, counseling, and referrals to other SBA Resource Partners at a Veterans Business Outreach Center, sba.gov/vboc. Receive + procurement guidance to better compete for government 20 contracts. VBOCs also serve active duty service members, Veterans Business National Guard or Reserve members, veterans of any era, and Outreach Centers military spouses.

10 LOCAL BUSINESS ASSISTANCE Our Local SBA Resource Partners SBA’s Resource Partners are independent organizations funded through SBA cooperative agreements or grants.

Columbia-Harlem SBDC Columbia Business School 475 Riverside Drive, third floor (646) 745-8573 [email protected] Director Kaaryn Nailor Simmons gsb.columbia.edu/sbdc

THE BRONX Lehman College SBDC 250 Bedford Park Blvd. W. Carman Hall, room 128 (718) 960-8806 [email protected] Director Clarence Stanley bronx.nyssbdc.org

BROOKLYN New York City College of Technology SBDC Howard Building 25 Chapel St., 11th floor (718) 797-0187 [email protected] Acting Director Miriam Colon brooklyn.nyssbdc.org

FARMINGDALE Farmingdale SUNY SBDC 2350 Broadhollow Road Arthur and Sandra Johnson, owners (631) 420-2765 of 21 Short Stop in Georgia, received assistance from their local Small Business [email protected] Development Center and SCORE chapter. Director Erica Chase farmingdale.edu/sbdc

Small Business STONY BROOK Stony Brook University SBDC Research & Support Services, building 17, Development Centers room 146 (631) 632-9070 NEW YORK CITY Baruch College SBDC [email protected] Pace University SBDC 55 Lexington Ave. (at 24th Street), room 2-140 Director Bernard Ryba 163 William St., room 328 (646) 312-4790 stonybrook.edu/sbdc (212) 618-6655 [email protected] [email protected] Director Ulas Neftci Director Andrew Flamm blogs.baruch.cuny.edu pacesbdc.org 11 LOCAL BUSINESS ASSISTANCE

JAMAICA Dutchess Chapter York College SBDC Dutchess County Regional Chamber 94-50 159th St., room 107 of Commerce Women’s (718) 262-2880 1 Civic Center Plaza, room 400, Poughkeepsie Business Centers [email protected] (845) 454-1700 x1021 Director Harry Wells [email protected] Business Outreach Center york.cuny.edu/sbdc dutchess.score.org Network WBC Brooklyn Long Island Chapter 85 S. Oxford St., second floor SBA Long Island Office LONG ISLAND CITY Director Delia A. Awusi 350 Motor Parkway, room 109, Hauppauge LaGuardia Community College/CUNY SBDC (718) 625-1276 (888) 433-3632 or (631) 454-0771 30-20 Thomson Ave. [email protected] (718) 482-5303 [email protected] bocnet.org [email protected] longisland.score.org The Bronx Director Rosa A. Figueroa Orange County Chapter 1231 Lafayette Ave. laguardia.nyssbdc.org Goshen Chamber of Commerce Director Luz-Maria Lambert 223 Main St., Goshen (646) 723-3361 (845) 237-2476 SUFFERN [email protected] Rockland Community College/SUNY SBDC [email protected] bocnet.org Brucker Hall orange.score.org Staten Island 145 College Road Putnam Chapter 705 Forest Ave., second floor (845) 356-6065 Donald B. Smith County Director Nina Flores [email protected] Government Campus (718) 816-4775 Director Thomas Morley 110 Old Route 6, room 8, building 3, Carmel [email protected] rockland.nyssbdc.org (845) 225-6030 siboc.org [email protected] putnam.score.org East New York Local KINGSTON Development Corp. Mid-Hudson SBDC at SUNY Ulster Rockland Chapter 80 Jamaica Ave., third floor Business Resource Center Rockland Community College Brooklyn 1 Development Court Brucker Hall, room 6102G Director Gail Davis (845) 339-0025 145 College Road, Suffern (718) 385-6700 x24 [email protected] (845) 426-1206 [email protected] Director Arnaldo Sehwerert [email protected] ldceny.org mid-hudson.nyssbdc.org rockland.score.org Queens Economic Development Corp. Staten Island Chapter 120-55 Queens Blvd., suite 309 Staten Island Advance Building STATEN ISLAND Kew Gardens 950 W. Fingerboard Road, fourth floor SBDC at College of Staten Island Director Andrea Ormeno (718) 727-1221 2800 Victory Blvd., building 3A, room 105 (718) 263-0546 [email protected] (718) 982-2560 [email protected] statenisland.score.org [email protected] queensny.org Director Dean L. Balsamini Sullivan Chapter Women’s Enterprise Development sisbdc.org Sullivan County Partnership Center Inc. 198 Bridgeville Road, Monticello 901 N. Broadway, suite 23 (845) 796-5270 White Plains [email protected] Acting Director Anne Janiak SCORE sullivancounty.score.org (914) 948-6098 x11 Contact your closest SCORE office first for Ulster Chapter wedcbiz.org an appointment. SUNY Ulster, HAR 210, Stone Ridge New York City Chapter (845) 339-0468 Veterans Business 26 Federal Plaza, room 3100 [email protected] (212) 264-4507 ulster.score.org Outreach Center [email protected] 44 Dalliba Ave. Westchester Chapter newyorkcity.score.org Watervliet New York State Department of Labor Director Amy Amoroso 120 Bloomingdale Road, White Plains (518) 326.6328 (914) 948-3907 [email protected] [email protected] vbocregion2.com westchester.score.org

12 LOCAL BUSINESS ASSISTANCE

To report how a proposed Your federal regulation could unfairly affect you, find your regional SBA advocate at sba.gov/advocacy. Advocates To submit a comment about The SBA offices of advocacy and ombudsman are how your business has independent voices for small business within the been hurt by an existing federal government. regulation, visit sba.gov/ ombudsman/comments. Advocacy The SBA’s Office of Advocacy also When you need a voice within the federal independently represents small business government for your interests as a small and advances its concerns before Congress, business owner, the SBA’s regional advocates the White House, federal agencies, federal are here to assist. The advocates analyze the courts, and state policy makers. effects of proposed regulations and consider Ombudsman alternatives that minimize the economic Entrepreneurs who have an issue with an Make your voice heard by participating burden on small businesses, governmental existing federal regulation or policy in a Regional Regulatory Enforcement jurisdictions, and nonprofits. Find your can receive assistance from the SBA’s Fairness Roundtable or a public hearing regional advocate at sba.gov/advocacy. national ombudsman. hosted by the SBA’s national ombudsman. These events are posted periodically on Your advocate helps with these small The ombudsman’s office can help you: business issues: the ombudsman website, » resolve regulatory disputes with sba.gov/ombudsman. » if your business could be negatively affected federal agencies To submit a comment or complaint by regulations proposed by the government » reduce unfair penalties and fines through the online form, visit sba.gov/ » if you have contracting issues with a ombudsman/comments. Your concerns » seek remedies when rules are federal agency will be directed to the appropriate federal inconsistently applied agency for review. The SBA will collaborate » when you need economic and small » recover payment for services done by with you and the agency to help resolve business statistics government contractors the issue. 13 LOCAL BUSINESS ASSISTANCE

Dawn Kelly, owner of the Nourish Spot in Jamaica, Queens, received free business counseling through an SBA Resource Partner. With this guidance, Dawn started

up and wrote her business plan. COURTESY OF THE SBA How to Start a Business in Metro New York Thinking of starting a business? Here are the nuts & bolts.

The Startup Logistics Business License & Zoning Even if you’re running a home-based business, you will have to Licenses are typically administered by a variety of state and local comply with many local, state, and federal regulations. Do not departments. It is important to consider zoning regulations when ignore regulatory details. You may avoid some red tape in the choosing a site for your business. Contact the local business beginning, but your lack of compliance could become an obstacle license office where you plan to locate your business. You may not as your business grows. Taking the time to research regulations be permitted to conduct business out of your home or engage in is as important as knowing your market. Being out of compliance industrial activity in a retail district. could leave you unprotected legally, lead to expensive penalties, » New York State Business Information Center and jeopardize your business. 99 Washington Ave., Albany (518) 485-5000 Market Research businessexpress.ny.gov View consumer and business data for your area using the Census Business Builder: Small Business Edition, https://cbb.census.gov/ Name Registration . Filter your search by business type and location to view data sbe Register your business name with the county clerk where your on your potential customers, including consumer spending, and a business is located. If you’re a corporation, also register with the state. summary of existing businesses, available as a map and a report. » New York Division of Corporations (518) 473-2492

14 LOCAL BUSINESS ASSISTANCE

Adriana Medina, owner of Fuerte Fitness, in Seattle, WA, received counseling from a SCORE mentor and a Women's

COURTESY OF THE SBA Business Center adviser.

Taxes Employment Eligibility Verification As a business owner, you should know your federal tax The Federal Immigration Reform and Control Act of 1986 requires responsibilities and make some business decisions to comply employers to verify employment eligibility of new employees. with certain tax requirements. The IRS Small Business and Self- The law obligates an employer to process Employment Eligibility Employed Tax Center, irs.gov/businesses/small-businesses- Verification Form I-9. The U.S. Citizenship and Immigration self-employed, includes information on paying and filing income Service offers information and assistance throughuscis.gov/i- tax and finding an Employer ID Number. 9-central. For forms, see uscis.gov/forms. For the employer As the IRS continues to implement some of the Tax Cuts and Jobs hotline call (888) 464-4218 or email [email protected]. Act provisions, your tax obligations may change. For the latest tax E-Verify is the quickest way for employers to determine the reform updates that affect your bottom line visitirs.gov/tax-reform . employment eligibility of new hires by verifying the Social Security number and employment eligibility information reported on Form » State Taxes I-9. Visit , call (888) 464-4218 or email [email protected]. NYS Department of Taxation & Finance e-verify.gov (518) 485-2889 New York City Taxes Health & Safety All businesses with employees are required to comply with state Dial 311 within New York City or and federal regulations regarding the protection of employees, (212) 639-9675 outside of the visit dol.gov for information. The Occupational Safety and Health Five Boroughs. Administration provides information on the specific health and Social Security safety standards used by the U.S. Department of Labor, (800) 321- 6742 or visit . If you have any employees, including officers of a corporation osha.gov but not the sole proprietor or partners, you must make periodic » Division of Labor Standards payments, and/or file quarterly reports about payroll taxes and State Campus, building 12, Albany other mandatory deductions. You can contact the IRS or the (518) 457-9000 Social Security Administration for information, assistance, and forms, at (800) 772-1213 or visit socialsecurity.gov/employer. Employee Insurance You can file W-2s online or verify job seekers through the Social Check with your state laws to see if you are required to provide Security Number Verification Service. unemployment or workers’ compensation insurance for your employees. For health insurance options, call the Small Business

15 LOCAL BUSINESS ASSISTANCE

Health Options Program at (800) 706-7893 or visit healthcare. gov/small-businesses/employers. Kari Weigel provides educational services Association Health Plans allow small businesses, including to rural communities self-employed workers, to band together by geography or through her Sylvan industry to obtain healthcare coverage as if they were a single Learning Center in Fargo, ND, which she large employer. For information, visit dol.gov/general/topic/ expanded with the help association-health-plans. of SBA-backed financing. » New York State Department of Health Corning Tower, Empire State Plaza, Albany (866) 881-2809 [email protected]

Environmental Regulations State assistance is available for small businesses that must comply with environmental regulations under the Clean Air Act. State Small Business Environmental Assistance programs

provide free and confidential assistance to help small business COURTESY OF THE SBA owners understand and comply with environmental regulations and permitting requirements. These state programs can help • Plant patents may be granted to anyone who invents or businesses reduce emissions at the source, often reducing discovers and asexually reproduces any distinct and new regulatory burden and saving you money. To learn more about variety of plant, other than a tuber propagated plant or a plant these free services visit nationalsbeap.org/states/list. found in an uncultivated state. A trademark or service mark includes any word, name, symbol, » Environmental Protection Agency Small Business Division device, or any combination, used to identify and distinguish the epa.gov/resources-small-businesses goods/services of one provider from others. Trademarks and Accessibility & ADA Compliance service marks may be registered at both the state and federal level. The U.S. Patent and Trademark Office only registers federal For assistance with the Americans with Disabilities Act, call the trademarks and service marks, which may conflict with and ADA center at (800) 949-4232 or the Department of Justice at supersede state trademarks. Visit uspto.gov/trademarks. (800) 514-0301. Direct questions about accessible design and the ADA standards to the U.S. Access Board at (800) 872-2253, TTY » State Trademarks (800) 993-2822, [email protected] or visit access-board.gov. New York Division of Corporations (518) 473-2492 Child Support Copyrights protect original works of authorship including literary, Employers are essential to the success of the child support program dramatic, musical and artistic, and certain other intellectual and collect 75% of support nationwide through payroll deductions. works, such as computer software. Copyrights do not protect facts, You’re required to report all new and rehired employees to the ideas, and systems, although they may protect the way they are State Directory of New Hires. If you have employees in two or more expressed. For general information on copyrights, contact: states, you may register with the Department of Health and Human » U.S. Copyright Office Services to report all your employees to one state. Find electronic U.S. Library of Congress income withholding orders and the Child Support Portal, which can James Madison Memorial Building be used to report information to nearly all child support agencies, 101 Independence Ave. SE at acf.hhs.gov/programs/css/employers. Send questions to Washington, DC [email protected]. (202) 707-3000 or toll free (877) 476-0778 Intellectual Property copyright.gov Patents, trademarks, and copyrights are types of intellectual property that serve to protect creations and innovations. For Export Assistance information and resources about U.S. patents and federally New York U.S. Export Assistance Center registered trademarks consult uspto.gov, call(800) 786-9199 290 Broadway, Room 1312 or visit the U.S. Patent and Trademark Office headquarters in New York City Alexandria, Virginia. For inventor entrepreneur resources visit (212) 809-2642 uspto.gov/inventors. export.gov There are three types of patents: Global NY State Trade Expansion Program • Utility patents may be granted to anyone who invents or Empire State Development discovers any new and useful process, machine, manufacture, 633 Third Ave., 36 th floor or composition of matter, or any new and useful improvement. New York City • Design patents may be granted to anyone who invents a new, (212) 803-3130 original, and ornamental design for a manufactured article. esd.ny.gov/global-ny-state-trade-expansion-program-step 16 17 LOCAL BUSINESS ASSISTANCE

Vocademy in Riverside, vocademy.com, trains underserved populations for vocational careers in manufacturing. Indiana Ruckus Makerspace in Indianapolis, ruckusindy.com, provides coaching and job placement complementing day-to-day job skills training. Massachusetts The Clubhouse-to-Career Pathways to Success program in Roxbury, flagshipclubhouse.org/c2c, places its participants in meaningful employment matching their skill sets. Missouri Rightfully Sewn in Kansas City, rightfullysewn.org, prepares at-risk women and underserved populations for entry level sewing positions, increasing their tailoring and production management skills. New Hampshire Monadnock Art x Tech Makerspace in Peterborough fills the need for qualified welders in construction and industry, visit NJIT Makerspace works to create an environment monadnockartxtech.org. for students to participate in American industrial New Jersey development. Mechanical New Jersey Institute of Technology engineering student Mike Makerspace in Newark connects Talbot has learned metal work and 3D Printing at the Newark participants with entry level advanced makerspace, which receives manufacturing jobs, in addition to

SBA funding for its programs. COURTESY OF NJIT MAKERSPACE an apprenticeship program, visit njitmakerspace.com. New York The Foundry in Buffalo, thefoundrybuffalo.org, operates four makerspaces, metal and wood shops Workforce and tech and textile labs, in support of education and entrepreneurship. North Carolina Forge Greensboro connects untapped talent to employment opportunities RecruitmentFind qualified workers at these makerspace initiatives funded by the SBA. through pre-apprenticeship programs and accreditation, visit forgegreensboro.org. If you are a small business employing skilled laborers, access a new talent pool for Oklahoma recruitment at your local makerspace. Fab Lab Tulsa prepares participants How it benefits you with high-value skills to secure careers These community operated workspaces provide training and resources to better prepare as operators and technicians in digital workers for the job market, offering job-specific and soft skills training. Connect with one of fabrication, visit fablabtulsa.org. these organizations to see if these makerspace participants could work for your small business. Pennsylvania NextFab’s Furnishing a Future program in California Philadelphia places trained carpenters, Workshops for Warriors, wfw.org, trains, certifies to national standards, and places veterans into advanced manufacturing careers nationwide. visit nextfab.com.

18 LOCAL BUSINESS ASSISTANCE Emerging Leaders Learn the skills to grow your small business in this seven-month course.

Accelerate Growth Small business executives looking to grow their business, create jobs, and strengthen their communities will find their next challenge in the SBA Emerging Leaders program. This seven-month course offers about 100 hours of training and provides the opportunity for high-potential small business owners to work with experienced coaches and mentors while developing connections with peers, local leaders, and the financial community.

How it benefits you Since the start of the program in 2008, Emerging Leaders graduates have reported creating over 6,500 jobs, gaining more than $300 million in new financing, and securing over $3.16 billion in government contracts. Participants produce a three-year strategic growth plan that connects them with the necessary tools and resources to reach major performance targets.

What you learn The curriculum is research-based and nationally scalable, enabling you to engage in focused development and expansion strategies, including options for accessing new capital and securing government contracts. COURTESY OF AA&A FIRE AND SAFETY Who’s eligible HOW THE SBA HELPED ME SUCCEED Small businesses having annual revenues When April Broderick wanted to expand into government contracting, she turned to of at least $250,000, in business the SBA. A&A Fire and Safety Co. in Cabot, AR serves the fire protection and service for at least three years, and with at least needs of businesses, schools, and fire departments across Arkansas. She took over one employee. from her father, Alan, in 2014, becoming one of the few women executives in her Get involved industry. With the help of the SBA Emerging Leaders program, April received business To register online, visit sba.gov/ training and networking opportunities to help her better compete in the public emergingleaders. marketplace. April committed to the program because she wanted to develop a three- year growth plan with business experts. Since graduating from Emerging Leaders, she has grown her business to six full-time employees, seven part time, with a projected 2019 revenue of $1.7 million.

19 20 LOCAL BUSINESS ASSISTANCE Opportunities for Veterans Military community members become more successful entrepreneurs with the help of the SBA.

Entrepreneurship training Financing VIP Grow In Boots to Business, explore business Strategize to expand and operate within the Employee called to active duty? federal marketplace. ownership and other self-employment You can receive funds that enable your opportunities while learning key business business to meet ordinary and necessary VIP International concepts. Walk away with an overview of operating expenses when an essential Enter or expand your federal and commercial entrepreneurship and applicable business employee is called up to active duty in contracting opportunities overseas. ownership fundamentals, including the military reserve. Ask your local SBA Get certified how to access startup capital using SBA specialist or lender about the Military Learn about the service-disabled veteran- resources. Boots to Business is conducted Reservist Economic Injury Disaster Loan. owned small business certification program on all military installations as part of on page 49. the Department of Defense’s Transition Assistance Program. Government contracting Veteran-owned and service-disabled Need assistance? Who’s eligible? veteran-owned small businesses that want Veteran and military entrepreneurs Service members transitioning out of to better compete in the public market receive business training, counseling, and active duty and military spouses. Boots to receive training from the Veteran Institute referrals to other SBA Resource Partners Business: Reboot, for veterans, National for Procurement, nationalvip.org. at a Veterans Business Outreach Center, Guard or Reserve members and military VIP Start sba.gov/vboc. For veterans business spouses, teaches this entrepreneurship Enter the federal market and become ready information visit sba.gov/veterans. curriculum off base in communities. for procurement. Register for either B2B program at https://sbavets.force.com. AVMAC President/CEO Bert Ortiz, left, and fellow For women veterans U.S. Navy veteran and electrician Ken Morey Receive entrepreneurial training geared manufacturing a power panel bracket. toward women veterans, service members, and spouses through these SBA- funded programs: » Veteran Women Igniting the Spirit of Entrepreneurship in Syracuse, New York » LiftFund in San Antonio, Texas For service-disabled veterans Learn how to start and grow a small business using these SBA-funded programs: » Entrepreneurship Bootcamp for Veterans with Disabilities in Syracuse, New York COURTESY OF AVMAC INC. » Veterans Entrepreneurship Program at the Riata Center for Entrepreneurship, Spears School of Business, Oklahoma HOW THE SBA HELPED US SUCCEED U.S. Navy veteran Roberto Ortiz puts his 40 years of aviation management experience State University in Stillwater, Oklahoma to use as a small business owner in Chesapeake, VA. Bert expanded AVMAC Inc. into the » Veteran Entrepreneurship Jumpstart government sector fulfilling aviation and maritime logistical services with the help of at St. Joseph’s University in Philadelphia, his local SBA Veterans Business Outreach Center. VBOCs are the first stop for military Pennsylvania community entrepreneurs looking to start, grow, or expand a small business. The » Dog Tag Inc., affiliated with Georgetown VBOC located at Old Dominion University helped Bert obtain government contracting University in Washington, DC business certifications. With support from his local VBOC, Bert has strategically position AVMAC in the federal marketplace to better compete for large-scale government contracts. From AVMAC’s first contract in 2010, this veteran-led company has nearly doubled in revenue and grown to over 400 employees.

21 LOCAL BUSINESS ASSISTANCE Write your Business Plan Your business plan is the foundation of your business. Learn how to write a business plan with the help of an SBA Resource Partner. TRADITIONAL BUSINESS PLAN FORMAT When you write your business plan, you don’t have to stick to the exact business plan template. Instead, use the sections that make the most sense for your business and your needs. Executive Summary Briefly summarize your company and why it will be successful. Include your mission statement, your product or service, and basic information about your company’s leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing. Company Description Go into detail about the problems your business solves. Be specific as to audience and location. List out the consumers, organizations, or businesses your company plans to serve. Explain the competitive advantages you have that will make your business successful. Are there experts on your team? Have you found the perfect location? Your company description is the place to boast about your strengths. Market Analysis Demonstrate a solid understanding of your industry outlook and tar- get market. This is where it pays to partner with an experienced busi- ness counselor from your local Small Business Development Center, SCORE, Women's Business Center, or Veterans Business Outreach Center—all these SBA Resource Partners provide free or low-cost business assistance. Competitive research will show what other busi- nesses are doing and their strengths. In your market research, look for trends and themes. What do successful competitors do? Why does it work? Can you do it better? Now's the time to answer these questions. Business plans help you run your business. A good business plan guides you through managing your business. Organization and Management You’ll use your business plan as a roadmap for how to structure, run, Explain how your com- and grow your new business. pany will be structured Business plans can help you get funding or bring on new and who will run it. business partners. Investors want to see a return on their Describe the legal Want to see an investment. Your business plan is the tool you’ll use to convince structure of your busi- example of a people that working with you—or investing in your company—is ness. State whether you a smart investment. Brain storm with a business counselor (visit have or intend to incor- business plan? one of our SBA Resource Partners detailed on page 10) and write porate your business as View examples of business plans a C or an S corporation, a traditional business plan, which uses a standard structure at sba.gov/business-guide/plan/ form a general or limited and detailed sections. Once you've got it all down, you can then write-your-business- condense it to a lean startup business plan, which typically partnership, or if you're a plan-template contains key points on only one page. sole proprietor or limited liability company.

22 LOCAL BUSINESS ASSISTANCE

LEAN STARTUP PLAN FORMAT TRADITIONAL BUSINESS PLAN CHECKLIST Write a lean startup plan if requested from an investor, or if your ❒ Executive summary business is relatively simple or you plan to regularly change and refine as you go. ❒ Company description Lean startup plans use more visual organization tools and only a ❒ Market analysis handful of elements to describe your company’s value proposition, ❒ Organization and management infrastructure, customers, and finances. They’re useful for visualiz- ing your company's fundamental facts. Your business counselor can ❒ Service or product line help you edit down into the Business Model Canvas, used here—the ❒ Marketing and sales most well known style, or another lean startup template. ❒ Funding request Key Partnerships ❒ Financial projections Note the other businesses you’ll work with--suppliers, manufactur- ers, subcontractors, and similar strategic partners. ❒ Appendix Key Activities List the ways your business will gain a competitive advantage. Use an organizational chart to show the hierarchy. Explain how Will you sell direct to consumers or use technology to tap into the each person’s experience will contribute to the success of your sharing economy? venture. Consider including CVs of key members. Key Resources Service or Product Line List resources you’ll leverage to create value for your customer. Describe what you sell or what service you offer. Explain how it ben- Your most important assets include staff, capital, or intellectual efits your customers and the product lifecycle. Share your plans for property. Leverage business resources that might be available intellectual property, like copyright or patent filings. If you're doing to women, veterans, Native Americans, and HUBZone–certified research and development for your service or product, explain it. businesses. Marketing and Sales Value Proposition Your marketing strategy should evolve and change to fit your needs Make a clear and compelling statement about the unique value in each context. your company brings to the market. Describe how you'll attract and retain customers. Show how a sale will actually happen. You'll refer to this section later when you Customer Relationships make financial projections, so be thorough. Describe how customers will interact with your business. Think through the customer experience from start to finish. Is it auto- Funding Request mated or personal? In person or online? If you're asking for funding, outline your funding requirements. Specify whether you want debt or equity and the terms you'd like. Customer Segments Your goal is to clearly explain how much funding you’ll need over Name your target market. Your business won’t be for everybody; the next five years and how the investment will be used. it’s important to have a clear sense of who you serve. Specify if you need funds to buy equipment or materials, pay Channels salaries, or cover specific bills until revenue increases. Explain how List the most important ways you’ll talk to your customers. you'll pay off the debt. Cost Structure Financial Projections Will your company focus on reducing cost or maximizing value? Supplement your funding request with a prospective financial Define your strategy, then list the most significant costs you’ll face. outlook for the next five years. Show how your business will be a Revenue Streams financial success. Explain how your company makes money: direct sales, member- If your business is already established, include income state- ships fees, selling advertising space? If your company has multiple ments, balance sheets, and cash flow statements for the last three to revenue streams, list them all. five years. List collateral you could put against a loan. Include forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, be even more specific and use quarterly—or even monthly —projections. Make sure to clearly explain your projections and LEAN STARTUP PLAN CHECKLIST match them to your funding requests. ❒ Key partnerships ❒ Customer segments Use visual organization tools--graphs and charts—to tell your business's financial story. ❒ Key activities ❒ Channels ❒ Key resources ❒ Cost structure Appendix Here you'll attach supporting documents or other requested ❒ Value proposition ❒ Revenue streams materials. Common items to include are credit histories, CVs, ❒ Customer relationships product pictures, letters of reference, licenses, permits, patents, legal documents, and other contracts.

23 24 LOCAL BUSINESS ASSISTANCE Entrepreneurial Resources

Regional Innovation Clusters Create jobs and grow the economy through an SBA Regional Innovation Cluster. Online Learning Find free short courses and learning Who should join Small businesses driving innovation in one of these tech industries: tools to start and grow your small business at sba.gov/learning. The • advanced composites free SBA Online Learning Center is a • agTech great resource for every entrepreneur, • bioscience especially rural business owners looking • food processing for easy access to vital business training. • data sciences • medical sciences Courses include: • power and energy • writing your business plan • unmanned aerial systems • understanding your customer • water tech • buying a business • wood products • marketing to win customers • legal requirements How it works • financing options Each industry cluster is based in a geographic region. Your small business must be located in or near that region in order to join the • disaster recovery cluster. For example, the AgLaunch Initiative cluster, which focuses on agricultural technology, is located in the Tennessee area. A small agTech business in or near Tennessee will connect with other agTech suppliers, service providers, and related institutions through that innovation cluster. Native American How it benefits you Network with other industry innovators and connect with Workshops resources that will help your small business find funding. You’ll Tribal enterprises and business organizations also receive guidance on how to better compete for government contracts and other opportunities so you can grow and expand. can receive entrepreneurial training at an SBA Receive free technical and legal assistance to develop your tech Entrepreneurial Empowerment Workshop. These and get it to market for government and industry buyers. workshops cover business concepts important for Get involved starting, growing, or expanding a small business. Find an SBA Regional Innovation Cluster near you by visiting RedWind instructors identify and help participants sba.gov/localassistance. Select the regional innovation clusters avoid common pitfalls. Learn how to prepare a on the drop-down menu. business plan, gain access to capital, and basic book keeping. Request a workshop in your area by visiting nativesmallbusiness.org.

25 FUNDING PROGRAMS Financing Your Small Business

How We Did It Crafting a

BusinessSBA-backed financing helped Superstition Meadery expand into a multimillion dollar enterprise. written by Becky Bosshart COURTESY OF SUPERSTITION MEADERY SUPERSTITION OF COURTESY 26 FUNDING PROGRAMS

ennifer and Jeff Herbert’s Solution home-based brewing has Thanks to guidance from an SBA expanded into a global, Resource Partner, the Small Business multimillion dollar Development Center at Yavapai enterprise thanks to SBA Community College, Jennifer and Jeff FUNDING PROGRAMS assistance. Using Arizona honey and learned about financing that worked Jingredients they’ve sourced from for them. The SBA guarantees loans Financing Your Small Business around the world (such as Tahitian made by lending institutions to small vanilla and Moroccan saffron), the business that would not otherwise be Herberts are selling nearly 30,000 able to obtain financing. Their small Tips for gallons annually of their honey-based business qualified for two SBA-backed fermented beverage. They operate a loans totaling more than $600,000. The downtown Prescott, Arizona tasting Herberts’ first SBA-backed loan allowed Success room and state-of-the-art production them to acquire commercial property to 5 facility, creating jobs and building design and build their mead production Get guidance. a local craft industry. The Herberts, facility. Their second SBA-backed loan Develop a working relationship with an founding members of the American provided the funding for professional SBA Resource Partner (see page 10) to Mead Makers Association, have brewing equipment to complete their help you find the funding that works traveled around the world hosting 7,450-square-foot production space. The best for you. pairing events and pouring at craft Herberts recently purchased a historic beverage festivals. building in downtown Phoenix, Arizona Define your lending needs. Challenge to open a mead-pairing restaurant. Determine if a loan is right for you. Is Benefit The Herberts wanted to scale up their this the right time? How much do you The Herberts started with two meadery while also staying true to need? What are you going to use it for? their values of quality ingredients and employees and now have over 20 craft process. It is often difficult for producing 29,000 gallons this year. new entrepreneurs or unique concepts From a homegrown setup, Jennifer and Talk to multiple lenders. Jeff are now charting revenue in excess like a meadery to get traditional See who best matches you and your financing, even though they knew of $2.6 million and distributing to 37 business. Has the lender successfully they had a great idea, the backing states, across Europe and Southeast worked with other businesses in wasn’t there to expand. They say that Asia. They have plans for another your industry? choosing to do something new breaks expansion, including a shipping the mold, which can be uncomfortable warehouse to manage their online retail for traditional lenders. and wholesale orders. Check all options. Consult with your lender to see if you’re eligible for SBA financing programs, determined by your industry & experience; collateral; credit score; and the relationship & transparency you develop with the lending agent.

Be ready for the ups and downs. Your entrepreneurial endeavor will be a roller coaster ride filled with challenges and successes. The path is all consuming so make sure that you love what you do. Passion is the price of admission.

Jeff & Jennifer Herbert, owners of Superstition Meadery, completed their 7,450-square- foot production space and opened a tasting room in Prescott, AZ with the assistance of SBA-backed financing. See their story on YouTube by searching for the 2019 National

COURTESY OF SUPERSTITION MEADERY SUPERSTITION OF COURTESY Small Business Persons of the Year.

27 FUNDING PROGRAMS

Lender SBA-backed Loans help small business owners and entrepreneurs who are Match creditworthy but don’t qualify for conventional financing. Find a lender interested If you cannot obtain a business loan with reasonable rates in working with you at sba.gov/lendermatch. and terms, contact your local SBA Lender to see if you are This matching tool eligible for SBA programs. The SBA works with participating connects entrepreneurs lenders to reduce their risk, increasing the likelihood your with SBA Lenders in loan will be approved with the terms that work best for your area. you. The guarantee is conditional on the lender following SBA program requirements. Just like with any other loan, you make your loan payments directly to your lender in accordance with your terms.

28 FUNDING PROGRAMS

SBAThese participating SBA Lenders serveLenders all New York unless otherwise noted. Contact the lender for more locations. New York City Dime Community Bank Dime Community Bank ORANGE COUNTY THE BRONX (718) 782-6200 (718) 782-6200 Empire State Bank BNB Bank dime.com dime.com (845) 561-0003 esbna.com (631) 881-5421 First Business Bank First County Bank bnbbank.com (608) 238-8008 (203) 462-4400 Greater Hudson Bank First IC Bank firstbusiness.com firstcountybank.com (844) 473-2811 greaterhudsonbank.com (770) 451-7200 First Financial Bank First IC Bank firsticbank.com (877) 322.9530 (770) 451-7200 Hanmi Bank Florida Capital Bank bankatfirst.com firsticbank.com (855) 344-2664 hanmi.com (800) 318-3159 First IC Bank Flushing Bank floridacapitalbank.com (770) 451-7200 (800) 581-2889 Hudson Valley FCU Greater Hudson Bank firsticbank.com flushingbank.com (800) 468-3011 hvfcu.org (844) 473-2811 First Savings Bank Hanmi Bank greaterhudsonbank.com (800) 555-6895 (855) 344-2664 Hyperion Bank NDC Grow America Fund firstsavingsbanks.bank hanmi.com (215) 789-4200 hyperionbank.com (212) 682-1106 Florida Capital Bank Northeast Bank ndconline.org (800) 318-3159 (800) 284-5989 Rhinebeck Bank floridacapitalbank.com northeastbank.com (845) 454-8555 rhinebeckbank.com BROOKLYN Lower East Side Federal Scott CU BNB Bank Credit Union (800) 888-4728 (631) 881-5421 (212) 529-8197 scu.org PUTNAM COUNTY bnbbank.com lespeoples.org Titan Bank (214) 937-0000 Brooklyn Cooperative NDC Grow America Fund STATEN ISLAND titanbank.com Federal Credit Union (212) 682-1106 Empire State Bank (718) 418-8232 ndconline.org (845) 561-0003 brooklyn.coop Neighborhood Trust FCU esbna.com ROCKLAND COUNTY Greater Hudson Bank Dime Community Bank (212) 740-0900 Flushing Bank (844) 473-2811 (718) 782-6200 neighborhoodtrustfcu.org (800) 581-2889 dime.com greaterhudsonbank.com Shinhan Bank America flushingbank.com Republic First Bank Florida Capital Bank (718) 799-7090 Lower East Side Federal (888) 875-2265 (800) 318-3159 shbamerica.com Credit Union floridacapitalbank.com myrepublicbank.com Spring Bank (718) 554-4544 NDC Grow America Fund (718) 879-5110 lespeoples.org (212) 682-1106 springbankny.com SULLIVAN COUNTY ndconline.org First Bank Financial Centre State Bank & Trust Co. Lower Hudson (888) 569-9909 Two River Community Bank (800) 414-4177 Valley fbfcwi.com (732) 982-2080 statebt.com DUTCHESS COUNTY tworiverbank.com Hudson Valley FCU ULSTER COUNTY (800) 468-3011 QUEENS Commonwealth hvfcu.org MANHATTAN Amerasia Bank Business Bank BNB Bank (888) 270-1742 Rhinebeck Bank (213) 471-4340 (631) 881-5421 amerasiabankny.com (845) 454-8555 cbb-bank.com bnbbank.com rhinebeckbank.com BNB Bank Hudson Valley FCU (631) 881-5421 (800) 468-3011 bnbbank.com hvfcu.org

29 FUNDING PROGRAMS

North Valley Bank Queens Cluster FCU Bank of Hope Customers Bank (740) 452-7920 (732) 766-2226 (888) 811-6272 (646) 601-7419 nvboh.com creditunionsonline.com bankofhope.com customersbank.com Rhinebeck Bank First National of Long Island Bank of the West East West Bank (845) 454-8555 (516) 671-4900 (800) 909-4872 (888) 761-3967 rhinebeckbank.com fnbli.com bankofthewest.com eastwestbank.com Rondout Savings Bank Bank of Rhode Island Financial Resources FCU (845) 229-0383 SUFFOLK COUNTY (866) 422-6574 (800) 933-3280 rondoutbank.com Bancorp Bank bankri.com myfinancialresources.org Salisbury Bank & Trust Co. (800) 545-0289 Bank United FinWise Bank (860) 435-9801 thebancorp. (877) 893-7823 (801) 545-6000 salisburybank.com mybankingservices.com bankunited.com finwisebank.com BNB Bank Bankwell Bank First Bank (631) 881-5421 WESTCHESTER COUNTY (877) 966-1944 (704) 575-0075 bnbbank.com Carver State Bank mybankwell.com firstbank.com (877) 489-2434 Dime Community Bank BCB Community Bank First Home Bank carverstatebank.com (718) 782-6200 (201) 823-0700 (727) 399-5680 dime.com First Savings Bank bcb.bank firsthomebank.com (800) 555-6895 Empire National Bank Berkshire Bank Five Star Bank firstsavingsbanks.bank (631) 348-4444 (212) 802-1000 (877) 226-5578 empirenb.com First-Citizens Bank & Trust Co. berkbank.com five-starbank.com (866) 322-4249 Fifth Third Bank Bridgehampton National Harvest Small firstcitizens.com (800) 972-3030 or (866) 671-5353 Bank (BNB) Business Finance 53.com Greater Hudson Bank (646) 756-5900 (949) 446-8686 (844) 473-2811 First Chatham Bank bnbbank.com harvestsbf.com greaterhudsonbank.com (866) 802-0649 Byline Bank Horizon Community Bank firstchatham.com North Valley Bank (866) 518-9128 (888) 206 - 6216 (740) 452-7920 First National of Long Island bylinebank.com horizoncommunitybank.com nvboh.com (516) 671-4900 Capital One HSBC Bank USA fnbli.com Savings Bank of Danbury (877) 383-4802 (800) 975-4722 (203) 731-5441 Flushing Bank capitalone.com us.hsbc.com sbdanbury.com (800) 581-2889 Cathay Bank Independence Bank flushingbank.com National Union Bank (800) 922-8429 (401) 886-4600 of Kinderhook Hanmi Bank cathaybank.com independence-bank.com (518) 758-7101 (855) 344-2664 Celtic Bank Corp. JPMorgan Chase Bank nubk.com hanmi.com (800) 509-6191 (212) 270-6000 Trustco Bank Huntington National Bank celticbank.com jpmorganchase.com (800) 670-3110 (800) 480-2001 CitiBank KeyBank trustcobank.com huntington.com (800) 374-9700 (800) 539-2968 online.citi.com key.com Long Island Statewide Lenders Citizens Bank Lakeland Bank NASSAU COUNTY 1st Constitution Bank 800-922-9999 (866) 224-1379 BNB Bank (609) 655-4500 citizensbank.com lakelandbank.com (631) 881-5421 1stconstitution.com City National Bank Live Oak Banking Co. bnbbank.com Alma Bank (800) 773-7100 (910) 790-5867 Centric Bank (718) 267-2562 cnb.com liveoakbank.com (888) 274-2033 almabank.com Coastal States Bank Manufacturers & Traders centricbank.com Amerasia Bank (724) 884-7483 Trust Co. Empire National Bank (718) 463-3600 coastalstatesbank.com (212) 505-8464 (631) 348-4444 amerasiabankny.com Cross River Bank mtb.com empirenb.com Bank of America (201) 808-7000 Metro City Bank NDC Grow America Fund (800) 432-1000 crossriverbank.com (888) 852-9602 (212) 682-1106 bankofamerica.com metrocitybank.bank ndconline.org

30 31 FUNDING PROGRAMS

Mission Valley Bank Santander Bank (818) 394-2300 (877) 768-1145 Community Participating missionvalleybank.com santanderbank.com Advantage Microlenders New Bank Savoy Bank Acción East Inc. (718) 353-8100 (646) 775-4000 Lenders newbankusa.com banksavoy.com (646) 833-4506 Acción East Inc. accion.org New Millennium Bank Seacoast Bank (866) 245-0783 BOC Capital Corp. (347) 836-4915 (800) 706-9991 usaccion.org nmbonline.com seacoastbank.com Serving all Five Boroughs BOC Capital Corp. Senior Lending Officer Newtek Small Business Spirit of Texas Bank (718) 624-9115 Hector Davis bocnet.org Finance Inc. (877) 366-1836 (718) 624-9115 (800) 749-8707 sotb.com Community Capital boccapital.org newtekone.com Stearns Bank New York Business Center New York Business (320) 258-4802 (914) 747-8020 for New Americans stearnsbank.com communitycapitalny.org Development Corp. Yanki Tshering (212) 898-4122 (800) 923-2504 TD Bank Empire State Certified nybcna.org nybdc.com (855) 278-8988 Development Corp. Community Capital tdbank.com NOA Bank (212) 785-5642 New York nybdc.com (646) 912-9456 Two River Community Bank Serving Dutchess, Orange, noabank.com (732) 982-2080 Renaissance Economic Putnam, Rockland, Noah Bank tworiverbank.com Development Corp. Sullivan, Ulster, and (718) 943 9100 United Community Bank (212) 964-6022 Westchester counties noahbank.com (800) 822-2651 renaissance-ny.org Simone Obermaier North State Bank ucbi.com TruFund Financial Services (914) 747-8020 communitycapitalny.org (877) 807-9668 United Midwest (212) 204-1303 trufund.org northstatebank.com Savings Bank Renaissance Economic Pacific City Bank (877) 751-4622 or Development Corp. (213) 355-8992 (844) 531-9722 Serving the Five Boroughs of paccity.net umwsb.com Participating New York, minorities and immigrants Pacific Premier Bank Unity Bank Certified Jessie C. Lee (888) 388-5433 (800) 618-2265 Managing Director ppbi.com unitybank.com Development (212) 964-6022 x2180 Pacific Western Bank Valley Economic Companies [email protected] (310) 887-8500 Development Loans renaissance-ny.org Business Initiative pacificwesternbank.com (800) 304-1755 vedc.org Corporation of New York Patriot Bank Rafael Rogers (888) 728-7468 Webster Bank (718) 590-3980 Export bankpatriot.com (800) 325-2424 bicofny.org public.websteronline.com Assistance People’s United Bank Empire State Certified (800) 894-0300 Wells Fargo Bank Development Corp. Lenders peoples.com (800) 416-8658 Patrick MacKrell Byline Bank wellsfargo.com PNC Bank (800) 923-2504 (773) 244-7000 (877) 287-2654 Woori America Bank nybdc.com bylinebank.com pnc.com (888) 699-6674 Regional Business Citibank wooriamericabank.com Radius Bank Assistance Corp. (800) 374-9700 (215) 375-6434 (877) 587-1133 citibank.com radiusbank.com rbacloan.com FinWise Bank ReadyCap Lending (508) 533-8661 (212) 257-4600 finwisebank.com readycapital.com Manufacturers & Traders Royal Business Bank Trust Co. (213) 533-7953 (800) 724-2440 royalbusinessbankusa.com mtb.com

32 FUNDING PROGRAMS Need Financing? Visit your local SBA office or lender to learn about these funding options. The 7(a) Loan, the SBA’s Largest Financing Program If you cannot get conventional financing and you meet the eligibility requirements, you can use a 7(a) loan to buy real estate, equipment, or inventory for your small business. It may also be used for working capital, to refinance business debt or purchase a small business. MAX LOAN AMOUNT: $5 million INTEREST RATE: generally prime + a reasonable rate capped at 2.75% TERMS: loan term varies according to the purpose of the loan, generally up to 25 years for real estate, 10 years for other fixed assets and working capital GUARANTEE: 50 to 90%

CAPLines Microloans Meet your revolving capital needs with lines of credit. CAPLines can Eligible businesses can startup and grow with working be used for contract financing, seasonal lines of credit, builders line capital or funds for supplies, equipment, furniture and fixtures. of credit, or for general working capital lines. Borrow from $500 to $50,000 and access free business counseling from microlenders. SBA Express Loan INTEREST RATE: loans less than $10,000, lender cost + 8.5%; loans Featuring a simplified process, these loans are delivered by $10,000 and greater, lender cost + 7.75% experienced lenders who are authorized to make the credit decision for the SBA. These can be term loans or revolving lines of credit. TERMS: lender negotiated, no early payoff penalty

MAX LOAN AMOUNT: $350,000 504 Certified Development Company Loan INTEREST RATE: for loans less than $50,000, prime + 6.5%; for If you do not qualify for traditional financing, but would like to loans of $50,000 and greater, prime + 4.75% purchase or renovate real estate or buy heavy equipment for TERMS: loan term varies according to the purpose of the loan, your business, ask about the 504 loan. It provides competitive generally up to 25 years for real estate and 10 years for other fixed fixed-rate mortgage financing through a lender and a Certified assets and working capital Development Company. GUARANTEE: 50% MAX LOAN AMOUNT (UP TO 40% OF THE TOTAL PROJECT): up to $5 million; $5.5 million for manufacturing or energy public Community Advantage policy projects A financing program for women, veterans, low-income borrowers, and INTEREST RATE: below market fixed rates for 10, 20 or 25 year terms minority entrepreneurs just starting up or in business for a few years. TERMS: 20 or 25 years for real estate or long-term equipment, Receive free business counseling as you work with a community-based 10 years for general machinery and equipment financial institution. GUARANTEE: the lender provides a senior loan for 50% of the INTEREST RATE: prime + 6% project cost (with no SBA guarantee); the CDC finances up to 40% in TERMS: up to 25 years for real estate, 10 years for equipment and a junior lien position (supported by the SBA guarantee) working capital SPECIAL CONDITION: a minimum borrower contribution, or down GUARANTEE: 75 to 90% payment, is required, amounts vary by project but are usually 10%

33 FUNDING PROGRAMS Go Global with International Trade Stabilize seasonal sales and become less less dependent on any one market by exporting.

Expert Advice on Exporting Find an SBA professional in one of the 21 U.S. Export Assistance Centers, sba.gov/tools/local-assistance/ eac, located in most major metro areas. The centers are also staffed by the U.S. Department of Commerce and, in some locations, the Export- Import Bank of the United States and other public and private organiza- tions. Visit your local Small Business Development Center (see page 8) for exporting assistance from professional

COURTESY OF THE SBA business counselors.

Expand your Market foreign sales or for fixed assets, helping Small businesses can enter and excel in you better compete globally. Apply for the international marketplace using State lines of credit prior to finalizing an export Trade Expansion Program grants and sale or contract and adequate financing training. Visit sba.gov/internationaltrade will be in place by the time you win your contract. If you’ve been in business for at to find out if your state is participating. Export Express uses a streamlined process least a year, ask your area SBA regional You can: that expedites the SBA guarantee— finance manager about the Export Working • learn how to export what small businesses need most when Capital program. The International Trade preparing to export or ramping up • participate in foreign trade missions and Loan program also helps exporters who international trade on a fast timeline. trade shows have been adversely affected by foreign Max loan amount: $500,000 • obtain services to support foreign importing competition, helping you better Interest rate: typically not to exceed market entry compete globally. prime + 6.5% Max loan amount: $5 million • translate websites to attract Terms: up to 25 years for real estate, up to Interest rate: for Export Working Capital, foreign buyers 10 years for equipment, up to seven years the rate is negotiated between borrower • design international marketing products for lines of credit and lender. For the International Trade or campaigns Guarantee: up to 90% Loan, it also cannot exceed prime + 2.75% Approval time: 36 hours or less Financing for for loan amounts over $50,000 and matu- International Growth rity of seven years or more. Help with Trade Barriers Having trouble securing capital to meet Terms: For Export Working Capital, typi- If you need assistance with international your small business exporting needs? Use cally one year, cannot exceed three years. trade regulations, the SBA can be SBA international trade programs to cover For International Trade Loans, up to your advocate in foreign markets. Call short or long-term costs necessary to sell 25 years for real estate, up to 10 years toll free (855) 722-4877 or email your goods or services abroad. Loan proceeds for equipment. contact information and trade issue to can be used for working capital to finance Guarantee: up to 90% [email protected].

34 COURTESY OF THE SBA ◀

HOW THE SBA HELPED US SUCCEED Help with Trade Barriers Small businesses that qualify for the SBA State Trade Expansion Program use If you need assistance with grant proceeds to bolster their international market presence, which EarthQuaker international trade regulations, Devices has done in a seismic way. A manufacturer of guitar special effects the SBA can be your advocate in pedals in Akron, OH, EarthQuaker has built an international social media fanbase foreign markets. Call toll free (855) delivering content in seven languages, generating millions of website page views. 722-4877 or email your contact EarthQuaker owners Julie Robbins & Jamie Stillman developed their global information and trade issue to marketing strategy and multilingual promo materials with the SBA State Trade Expansion [email protected]. Program. The couple also received global marketing counseling and research assistance from the Ohio Small Business Development Center Export Assistance Network. 35 FUNDING PROGRAMS R&D Opportunities for High Growth Startups Businesses engaged in high-risk research and development can compete to develop their tech to market. Do you work in one of these areas? » advanced materials » agTech » artificial intelligence » augmented reality and virtual reality » big data » biomedical » cloud computing » cybersecurity » energy » health IT » national security » sensors » space exploration

America’s Seed Fund The Small Business Innovation Research and the Small Business Technology Transfer programs, known as America’s Seed Fund, provide more than $3.5 billion each year in early stage capital through a competitive awards process.

How it works Every year, participating federal agencies announce topic areas that address their R&D needs. Topics include: » energy efficiency tech » remote exploration to outer space COURTESY OF THE SBA » New advances in devices for health research and diagnostic applications ◀

HOW THE SBA HELPED US SUCCEED Eligible businesses submit proposals to Killer Snails brings science out of the laboratory and into classrooms and living rooms win either grants or contracts and then with award-winning educational games, such as BioDive, Assassins of the Sea, and advance through three phases: There are Biome Builder. The Brooklyn, NY-based business gained access to startup funding three phases: thanks to the Small Business Innovation Research seed funding program. Dr. Mandë » The proof-of-concept stage typically lasts Holford, left, Jessica Ochoa Hendrix, right, and Dr. Lindsay Portnoy envisioned how from 6-12 months, and provides from venomous marine snail research could be used in extended reality and digital learning $100,000-$225,000 to engage students and meet educators’ needs. The business has raised more than » The full R&D period lasts about 24 $1.2 million to support a team of full-time employees. Killer Snails’s tabletop, digital, months, and typically provides $600,000- augmented and virtual reality games have won national and international awards. $1.5 million

36 FUNDING PROGRAMS

» The commercialization stage is when your small business seeks public or private funds for its venture or sells the innovation for a profit. Investment Capital How your startup benefits Looking for investors? For mature, profitable busi- The funding agency does not take an equity position or nesses with sufficient cash flow to pay interest, a small ownership of your business. The federal government also business investment company can help scale up your protects data rights and the ability to win sole-source phase small business. three contracts. Some agencies provide additional resources beyond funding. Participating agencies: » Department of Agriculture » Department of Commerce › National Institute of Standards and Technology › National Oceanic and Atmospheric Administration » Department of Defense » Department of Education » Department of Energy » Department of Health and Human Services › Centers for Disease Control › Food and Drug Administration › National Institutes of Health How an SBIC works Investment companies with financing expertise in certain » Department of Homeland Security industry sectors receive SBA-guaranteed loans, which » Department of Transportation means the federal government is responsible in case of » Environmental Protection Agency default. These investment companies then use the SBA- guaranteed capital and private funds to invest in qualifying » NASA small businesses. Each SBIC has its own investment profile » National Science Foundation in terms of targeted industry, geography, company maturity, Visit sbir.gov to find funding opportunities and helpful program the types and size of financing they provide. tutorials, as well as past award winners, such as Qualcomm, iRobot, Illumina, and Symantec. Use the local resources locator To be eligible tool to identify state and regional programs and resources The majority of your employees and assets must be within the available to assist with grant writing, commercialization, and United States. Some ineligible small businesses and activities business counseling in your community. include re-lenders, real estate, project financing, and foreign investment. Visit sba.gov and click on Funding Programs and then Investment Capital. Follow us on Twitter for updates and announcements or visit our events page to learn about out- reach programs in your community. SBIR Road Tour For more information, Visit sbirroadtour.com and follow us @SBIRgov to learn about this annual national visit sba.gov and program and related events connecting tech entrepreneurs to the country’s largest source click on Funding of early stage funding, providing over 5,000 new awards annually. Programs and then Investment Capital.

37 FUNDING PROGRAMS DISASTER ASSISTANCE COURTESY OF THE SBA

How I Did It Smiling After the Storm With SBA assistance, Stephanie Vitori rebuilt her Miami Beach, FL restaurant after Hurricane Irma. written by Jess Walker beef cheeseburgers sizzle on the flat-top grill. f you ask Stephanie Vitori, the person who coined the term “bittersweet” Burgers are kept classic, no extra frills. “People must have run a business. In the 15 years Stephanie has owned feel at home,” Stephanie says. “You’re not just Cheeseburger Baby, the Florida burger joint has endured recessions, another table somebody has to serve.” Here, multiple hurricanes, and competition from corporate franchises. She has everybody feels like somebody, she says. So grown along with Cheeseburger Baby, changing with each stage of the many people love a good cheeseburger, which business lifecycle. is why all kinds of people are attracted to her IVitori worked as a delivery driver before purchasing the business in restaurant. Cheeseburger Baby’s handcrafted 2004. Since then, she’s expanded by purchasing two food trucks. She runs patties have been featured on the Food an open kitchen, which means customers can watch their 100% Angus Network and consumed by celebrities such as 38 DISASTER ASSISTANCE FUNDING PROGRAMS

What to do after a Disaster Declaration After a disaster is declared by the President Register with FEMA at disasterassistance.gov or call (800) 621-3362, TTY (800) 462-7585, or visit a Disaster Recovery Center. Locations can be found at fema.gov/drc. Businesses are automatically referred to the SBA. Most homeowners and renters will be referred by FEMA to the SBA to apply for disaster loan assistance. You must complete the SBA application to be considered for assistance. If the SBA cannot help you with a loan for all your needs, we will in

COURTESY OF THE SBA most cases refer you back to FEMA. If you do not complete an SBA application, you may not be Jay-Z and Kanye West. Stephanie has met famous chefs “all through considered for assistance from other agencies. a cheeseburger.” But just as special to her is the Vietnamese couple who came in one day, speaking little English. They were eager to meet Express Bridge Loan Pilot Program Stephanie and show her a napkin with “Cheeseburger Baby” scrawled Businesses affected by a Presidential disaster on it. On the other side of the world, a friend had told them to come, declaration are eligible to receive expedited so they did. It all just goes to show you, Stephanie says, people come financing through an SBA Express lender. These together for a great cheeseburger. funds may be used for disaster-related purposes while the business waits for long-term financing Challenge through the SBA’s direct disaster loan program. Despite these sweet moments, there have also been bitter ones. Loan Amount: $25,000 Hurricane Irma struck in 2017, and Cheeseburger Baby lost equipment Terms: up to seven years and food supplies. Thirty percent of sales blew away with the wind. “It was a zombie zone in South Beach. People were scared to come since Guarantee: 50% they thought everything was destroyed,” Stephanie says. “It was the After a disaster is declared by the SBA roughest road I’ve ever traveled.” Businesses of all sizes, nonprofits, homeowners, and renters are eligible to apply Solution for an SBA disaster assistance An SBA disaster assistance loan aided Cheeseburger Baby’s loan. Visit a Business Recovery recovery. The SBA provides direct low-interest loans to businesses Center or Disaster Loan of all sizes, nonprofits, homeowners, and renters to repair damage Outreach Center in your area or or replace property not covered by insurance or other forms of visit disasterloan.sba.gov/ela to apply for a loan. assistance. SBA disaster assistance loans can also be used to rebuild You can also call the SBA customer service center stronger, protecting your home or business against future damage at (800) 659-2955, TTY (800) 877-8339, and ask for caused by a disaster. The SBA also introduced Stephanie to her local an application package. FEMA grant assistance for homeowners or renters is not available under an SBA declaration. Information you need to get started: Once safety and security needs are met, the SBA • address of damaged residence or business helps get you and your community back to where and contact information you were before the disaster. Since low-interest • insurance information, including type of SBA disaster assistance loans are government aid, insurance, policy numbers, and amount creditworthiness and the ability to repay are taken received into consideration before a loan is awarded. For • household and/or business income information visit sba.gov/disaster. • description of disaster-caused damage and losses

39 FUNDING PROGRAMS DISASTER ASSISTANCE

Get Ready The Ready Business program, ready.gov/business, gives step-by-step guidance on how to prepare your business for a disaster. The series includes preparedness toolkits for earthquakes, hurricanes, flooding, power outages, and severe winds/tornadoes. Spanish materials are available. COURTESY OF THE SBA

Small Business Development Center, Don’t Wait which provided assistance with Take steps now to protect your business and reduce property damage with financing options and marketing. She continues to meet with SBDC advisers the help of an SBA disaster assistance loan. Those affected by a disaster can to remain competitive in an ever- rebuild stronger by increasing their SBA loan up to 20% of the verified physical changing economy. damage to make mitigation improvements. Borrowers have two years after During disasters, the responsibility loan approval to request an increase for higher rebuilding costs, code-required falls on the owner’s shoulders. But upgrades or mitigation. one lesson Stephanie has learned is the value in reaching out to others for assistance and counsel. While her brick-and-mortar restaurant was being rebuilt, she sold from a food truck. When the restaurant was operational again, she advertised that with spray paint on the plywood covering the broken windows. Stephanie and her wife, Gabrie Vitori, rebuilt Cheeseburger Baby by depending on each other and SBA assistance. See their story on YouTube by searching Keep in mind for the 2019 Phoenix Award for Small Since an SBA disaster loan is a direct loan from the Business Disaster Recovery. “You’ve got to have resiliency. You’ve got government, other organizations may reduce or not to swallow your pride sometimes,” award you a grant if you have received an SBA loan or Stephanie says. “But you also have to other assistance for your disaster loss. Be sure to check believe in your product.” with the organization offering assistance to see how an Benefit SBA loan might affect your eligibility for their program. For Cheeseburger Baby, that product In general, recovery expenses covered by insurance, will continue satisfying the burger FEMA, or other forms of assistance may reduce the hankerings of locals, celebrities, and amount provided by your SBA disaster assistance loan. tourists alike. Vitori sees expansion in her future—she’d like to have a brick- and-mortar restaurant and food truck in each growing town in South Florida. “My whole life is this. I’ve always felt a love for business ownership, ” Stephanie says. “That drive keeps you going.”

40 DISASTER ASSISTANCE FUNDING PROGRAMS Getting Back to Business: Six essential preparedness steps for creating a continuity plan The financial and emotional cost of rebuilding a business after a disaster can be overwhelming. With a business continuity plan in place, you can recover more quickly.Your plan also puts you in a better position to contribute to the economic recovery of your community.

1 Establish a communications plan • Test your calling tree or communications list to reach employees to ensure they and their families are safe.

2 3 Protect your documents Review insurance coverage • Keep copies of vital business documents in a digital • Contact your insurance agent to find out if your coverage format or in an accessible, protected off-site location. is right for your business; make sure you understand the policy limits and deductibles. • Ask about business interruption insurance, which compensates you for lost income and covers operating expenses if your company has to temporarily shut down because of a disaster.

Establish a solid supply chain

• If your vendors and suppliers are local and the disaster is widespread, you will all be in the same situation— 4 struggling to recover. Put a disaster response plan in place to get key supplies from companies outside your area. Create a contact list of contractors and vendors you plan to use.

5 6 Plan for an alternative location Practice your plan with your staff • Identify several places to relocate your operations in case Based on your location, assess your risk you must close your primary location for an extended time. for every type of emergency. • Consider creative options for available office space, including • Discuss as a group how your plan would be affected by sharing space and resources with other businesses. different types of disasters, such as an earthquake, tornado, • Allow employees to telecommute until your location reopens. flood, mudslide, or hurricane.

41 FUNDING PROGRAMS Surety Bonds SBA-backed surety bonds help small businesses succeed.

Eligible small businesses in the construction, supply, and service sectors better compete for contracting and subcontracting jobs using SBA-backed surety bonds.

How you benefit Surety bonds help small businesses receive the bonding assistance they need to win contracts by providing the customer with a guarantee the work will be completed.

How surety bonds work Many contracts require surety bonds, which are offered by surety companies. The SBA guarantee provides an incentive for surety companies to work with small businesses that would normally not be able to obtain the bond.

Is the program right for you? Small businesses that often come to the SBA for surety bonds: » startups and firms in business less than three years

» businesses with credit issues COURTESY OF AZTEC CONTRACTORS or internally prepared financial statements » those who cannot secure bonding HOW THE SBA HELPED ME SUCCEED With SBA-backed surety bonds, Frank Spencer III has been able to better compete for through regular commercial commercial and government contracts. Aztec Contractors of El Paso, TX received the channels bonding support it needed to compete for construction contracts with the General » subcontractors with a desire to Services Administration, U.S. Army Corps of Engineers, and the Mission and Installation establish their own bonding as a Contracting Command. Frank acquired Aztec in 2006 with no capital and only two prime contractor employees. Now he employs 25 full time and provides internship opportunities. Sales » those wishing to increase their have grown to about $30 million annually. Aztec now qualifies for bonding in the current bonding limits standard surety market without SBA support.

42 FUNDING PROGRAMS

For all contracts and subcontracts up to $6.5 million, the SBA guarantees bid, payment, performance, and ancillary bonds issued by surety companies. For federal contracts up to $10 million, the SBA makes a guarantee if it’s in the best interest of the government.

The SBA reimburses surety companies in case of default 90% of losses sustained for veteran & service- disabled veteran, minority, 8(a), and HUBZone-certified small businesses, and all projects up to $100,000. The SBA reimburses 80% for all other small businesses.

Need a surety bond guarantee fast? For contracts under $400,000, the process is streamlined using the SBA QuickApp program. » easy application » no need to submit financials to the SBA » online applications submitted to SBA authorized agents approved within hours

Ready to start? The SBA partners with 40 surety companies and hundreds of bonding agents. Find authorized agents at sba.gov/osg. Do you want to discuss the advantages of the SBA Surety Bond Guarantee program? Contact a bonding specialist:

Tamara E. Murray Kevin Valdes Jennifer C. Bledsoe Office of Surety Denver, CO Seattle, WA Washington, DC Guarantees (303) 927-3479 (206) 553-7277 (202) 205-6153 (202) 205-6540

43 CONTRACTING Doing Business with the Government

How I Did It COURTESY OF THE SBA Taking the Helm Jennifer Rahn steers Admiral Engineering and Manufacturing to success as a government subcontractor. written by Micaela Morrissette

44 CONTRACTING

Tips for CONTRACTING Success 5Find a mentor. I had a great mentor in my company, and I reached for opportunity when it was in front of me.

Always move forward. The SBA has educational resources to improve your business know-how. To learn more about government contracting and SBA certification programs, call your local SBA district office or procurement center representative.

Compete smart. See if your company can use the SBA Subcontracting Network database, https://eweb1.sba.gov/ subnet/client/dsp_Landing.cfm. SubNet connects businesses with subcontractors & small businesses with contract opportunities. COURTESY OF THE SBA Know your industry. ennifer Rahn was first said, laughing. I see everything; I have my hands in hired as an office assistant One of their largest clients, aero- everything. I don’t want to expand to at Phoenix, Arizona-based space and defense company L3 where I can’t do that anymore. Admiral Engineering and Technologies, nominated Admiral Manufacturing Co. Rising for the SBA Subcontractor of the to the top in a sector dominated by Year award. As a subcontractor for L3 Build a team. Jmen, Rahn’s career sounds a lot like Technologies, Rahn said she gets great Everybody feels like this is our work the classic American success story. She satisfaction from knowing soldiers family. My employees are as big a part got there with the help of a mentor and are able to communicate with their of my company as I am, so I make business growth earned as a federal leaders because of parts her company sure they know that. government subcontractor. has made. For 16 years, Rahn worked side-by- When Schlosser decided to retire, he side with then-owner David Schlosser, asked Rahn to purchase Admiral. major government contractors. She’s who became her mentor. Rahn says she “He did not want to sell to a corpo- grateful prime contractors have incen- learned “everything it takes to run a ration that would bring in their own tive to subcontract with small business, machine shop. I naturally just picked it people or end up foreclosing,” Rahn and that helps businesses like Admiral. up and wanted it.” says. “Then all your hard work is gone. Rahn has plans to grow, but not in The learning curve was steep— I agreed because it was everything I had the typical ways. She’s investing in Admiral specializes in complex spent my life working on, too.” replacing equipment, enhancing effi- machined parts for industries including In September 2017, she took over as ciency and productivity while leading aerospace and communications—and owner and president. Ownership tran- Admiral into new arenas like 3D print- Schlosser expected as much as he gave. sition poses a unique set of challenges. ing. Because of the stability provided “When I did something wrong, he told Rahn wanted to maintain relationships by being a government subcontractor, me, and I didn’t do that again,” Rahn with her existing clients, which include she’s able to do all of this.

45 CONTRACTING How to do business with the government

Consult your local Small Business Development Identify your product or service number Center (see page 10) or Procurement Technical at naics.com. 1 Assistance Program adviser. Find your closest 4 center at aptac-us.org. Obtain a free DUNS number at fedgov.dnb.com/ webform. A Unique Entity ID managed by Ernst & Search https://beta.sam.gov to see if any 5 Young will replace DUNS in late 2020. federal agencies are looking for your product or service. Search the SBA SubNet database 2 Register with the System for Award for subcontracting opportunities. 6 Management (sam.gov). Attend an SBA district office contracting Research SBA certification programs like workshop. Visit sba.gov/localassistance to the 8(a), woman-owned small business, 3 find your local office. 7 and HUBZone programs. If eligible. upload all required documents to certify.sba.gov before you submit an offer on a contract.

46 47 CONTRACTING SBA Certification Programs Your business could earn profit and gain valuable work experience by providing goods or services to the government.

Socially disadvantaged: those subjected HOW THE SBA HELPED to racial or ethnic prejudice or cultural bias ME SUCCEED without regard to their individual qualities September Myres knew that becoming a because of their identity as members government contractor would empower herself of certain groups. The following groups and other native peoples, while also growing often fit this status: Black Americans, her small business to the next level. She sought Native Americans, Alaska Natives, Native business development assistance from the SBA, Hawaiians, Hispanic Americans, Asian qualifying for the SBA 8(a) Business Development Pacific Americans, and Subcontinent Asian Program, which helps small disadvantaged Americans. A person who is not a member businesses compete in the federal marketplace. of one of these groups must establish that This program helped September strategically it is more likely than not that he or she has grow her company to become a competitive force suffered social disadvantage. in the environmental services industry. Sundance Economically disadvantaged: those whose Consulting of Pocatello, ID has won contracts ability to compete in the marketplace has from the Army Corps of Engineers and the U.S. been impaired because they have not had Forest Service. She has continually secured as much capital and credit opportunities Department of Defense contracts to improve compared to others in the same or similar Native American lands adversely affected by past line of business. department activities. September often assists The benefits of the 8(a) program: Native American tribes and Alaska Native villages with developing projects and community plans. » You are assigned an SBA professional to American Indians, Alaska Natives, and native help coordinate business development Hawaiians seeking entreprenurial development assistance. training can start, grow, and expand their » You could be awarded an 8(a) sole-source business with the help of the SBA, sba.gov/ contract up to $4 million for goods and naa. The Office of Native American Affairs services, $7 million for manufacturing, also consults with tribal governments prior to

COURTESY OF THE SUNDANCE CONSULTING SUNDANCE THE OF COURTESY exceptions apply. finalizing SBA policies affecting tribes. 8(a) small business that can provide the needed services. This is an accelerated process saving time for both you and the Contracting certification programs are education, training workshops, and government agency or office. designed to help you better compete match-making opportunities with federal for and win federal contracts set aside buyers. Firms owned by Alaska Native All Small Mentor-Protege for small businesses. Visit sba.gov/ Corporations, Indian tribes, Native Program contracting to learn more about set- Hawaiian organizations, and Community Looking for an opportunity to partner with asides and whether one or more of these Development Corporations are also a more experienced firm for mentorship? government certification programs is right eligible for 8(a) business development That effort can be rewarded in the All for your business. To see if you are eligible assistance. Small Mentor-Protege Program, sba.gov/ and then certify as a woman-owned, To be eligible for the 8(a) program, your allsmallmpp. At the same time you’re gaining HUBZone, 8(a), or All Small business, visit small business must: invaluable direction and experience, you and certify.sba.gov. » be owned and controlled by U.S. citizens your mentor can compete for government who are socially and/or economically contracts, further growing your business. 8(a) Business disadvantaged To qualify for this program: Development Program If you’re an entrepreneur who is socially » demonstrate at least a two-year track » Proteges must have a mentor prior to or economically disadvantaged, you record and have potential for continued applying for the program. Visit your local may be eligible to receive business success SBA office for guidance. Ask about the SBA’s training and government contracting » have a net worth and adjusted gross Resource Partners and the Procurement assistance through the 8(a) Business income of less than $250,000 and assets Technical Assistance Program for help in Development Program, sba.gov/8a. under $4 million connecting you with a mentor business. It includes free business development 48 CONTRACTING

» You must be certified as a small business within your NAICS industry classification (naics.com). Women-Owned Small Business » Mentors and proteges must be organized for profit or as an agricultural Certification cooperative. If you're a woman proprietor looking to sell to the federal » Mentors cannot own more than 40% government, you may be eligible for the Women-Owned Small equity in the protege’s business. Business certification, sba.gov/wosb. » An SBA determination of affiliation must not exist between the mentor and the Here’s how to get certified: protege. All Small-approved partnerships receive an exclusion of affiliation for contracting purposes. 1. Make sure you’re eligible

HUBZone • Your business must be at least 51 percent owned and controlled by one or more Businesses located in Historically women who are U.S. citizens. The ownership must be direct and unconditional. Underutilized Business Zones, sba.gov/ • A woman must hold the highest officer position and have managerial experience hubzone, can gain special access to federal required to run the business. contracts. To qualify for the certification, • One or more women must manage the daily business operations on a full-time your small business must: basis and conduct long-term decision making and planning. » be owned and controlled by U.S. citizens, To qualify as an economically disadvantaged woman-owned small business, your a Community Development Corporation, company must meet these criteria and the business owner and/or manager must an agricultural cooperative, Indian tribal meet certain income and asset requirements. government, Alaska Native Corporation, or a Native Hawaiian organization » have a principal office located in a HUBZone, which includes Indian 2. Register reservations and military facilities closed by the Base Realignment and Closure Act. • Register with the System for Award Management (sam.gov) to start doing busi- Enter your address in our interactive map, ness with the government. maps.certify.sba.gov/hubzone/map, to see if you qualify. » have at least 35% of your employees 3. Certify living in a HUBZone Self-certify as a woman-owned small business or an economically disadvantaged Service-Disabled woman-owned small business for free, or obtain certification from one of the SBA’s Veterans approved third-party certifiers (which costs a fee): If you’re a service-disabled veteran looking • El Paso Hispanic Chamber of Commerce to enter the federal marketplace, you may be eligible for this small business • National Women Business Owners Corporation certification. To determine your eligibility, • U.S. Women’s Chamber of Commerce contact a veterans business development • Women’s Business Enterprise National Council officer at your local SBA office, or the SBA’s Office of Veterans Business Development, All required documents must be uploaded to certify.sba.gov prior to submitting sba.gov/ovbd. After you have set up to do an offer on a contract set aside for the program. business with the government in sam.gov, update your status as a service-disabled veteran business. Keep in mind, the SBA 4. Update your status does not officially certify this designation, so when a contract awarded based on • Update your status as a woman-owned small business in sam.gov. this eligibility is protested, the SBA will determine if your business meets the eligibility status, ownership, and 5. Search the database control requirements. • Search the FedBizOpps database (fbo.gov) for your new business opportunity.

49 CONTRACTING

An O’Fallon Casting Inc. employee at work in O’Fallon, MO. Owner Vince Get Expert Gimeno grew his business thanks to Contracting & expert SBA business counseling. Certification Help Federal contracting can be complex, but you don’t have to do it alone. A Procurement Technical Assistance Center adviser can help you determine if your business is ready for government contracting. An adviser can also help you register in the System for Award Management (sam.gov) and see if you’re eligible for any small business certifications and/or programs. Visit sba. gov/localassistance to find one-on-one counseling that is free or low cost. (see page 8). Procurement Technical Assistance Centers New York City PTAC New York City Department of Small Business Services 110 William St., second floor Manhattan (212) 513-6444 [email protected] Executive Director Rogina Coar-Smith nyc.gov/getcertified LaGuardia Community College/ CUNY PTAC 31-10 Thomson Ave., suite B309 Long Island City (718) 482-5306 Director Edgard Hernandez [email protected] laguardiaptac.org South Bronx Overall Economic Development Corp. PTAC 555 Bergen Ave. The Bronx (718) 732-7540 Vice President Evangeline Gelladola [email protected] sobro.org Rockland Economic Development Corp. PTAC 1 Blue Hill Plaza Pearl River (845) 735-7040 [email protected] Program Manager Lin Simeti redc.org/ptac

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