2016 Resource Guide for Small Business U.S. Small Business Administration • Massachusetts Edition

Celebrating a Resource Partner Milestone page 14

PAGE 18 Counseling PAGE 28 Capital PAGE 48 Contracting

SMALL BUSINESS RENI Publishing Publishers of Small Business Resource

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

Staff President/CEO content2016 MASSACHUSETTS Joe Jensen [email protected] English/Spanish Small Business Resource FEATURES Advertising 40 Surety Bond Guarantee Nicky Roberts [email protected] 6 Introduction Program Martha Theriault [email protected] 6 Administrator’s Message Kenna Rogers [email protected] 40 Small Business Investment 8 New England Regional Company Program Administrator’s Message Production 42 Small Business Innovation 9 Secretary of Executive Office Diane Traylor [email protected] Research Program of Housing & Econ. Dept. 43 Small Business Technology 10 SBDC State Director’s Transfer Program SBA’s Marketing Office: Message 45 SBA Loan Program Chart The Small Business Resource Guide is published 11 SCORE Director’s Message under the direction of SBA’s Office of Marketing and 47 SBA Lenders Program Chart 11 CWE CEO’s Message Customer Service. 12 District Director’s Letter 48 Contracting Director of Marketing 14 Feature Article Applying for Government Paula Panissidi Contracts [email protected] Celebrating a Resource Partner 48 How Government Contracting Milestone Works Graphic Design 50 SBA Contracting Programs Gary Shellehamer [email protected] 18 Counseling 53 Getting Started in Contracting Getting Help to Start Up, Market and Manage Your Business 55 Disaster Assistance SBA’s participation in this publication is not an 18 SBA Resource Partners Knowing the Types of Assistance endorsement of the views, opinions, products or services of the contractor or any advertiser or other 22 SBA’s Learning Center Available for Recovery participant appearing herein. All SBA programs 24 Reaching Underserved and services are extended to the public on a Communities 57 Advocacy and Ombudsman nondiscriminatory basis. 25 Serving Those Who Served Watching Out for Small Business Printed in the United States of America Our Country Interests While every reasonable effort has been made 26 Are You Right for Small to ensure that the information contained herein Business Ownership? 58 Additional Resources is accurate as of the date of publication, the 27 Writing a Business Plan information is subject to change without notice. Taking Care of Start Up Logistics The contractor that publishes this guide, the federal 62 Business Organization: government, or agents thereof shall not be held Choosing your Structure liable for any damages arising from the use of 28 Capital or reliance on the information contained in this Financing Options to Start or publication. Grow Your Business Other Assistance 63 SBA Publication # MCS-0018 28 SBA Business Loans 30 What to Take to the Lender 67 Lender Listing This publication is provided under SBA Contract # SBAHQ05C0014.

On the Cover:

Evangeline Conley, Owner Greek Goddess Products See story on inside back cover.

4 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma

The U.S. Small Business Administration FROM THE ADMINISTRATOR

Finding Your Partner for Success

I am proud to hold the seat in the President’s advisors. These SBDC advisors have expertise cabinet responsible for helping America’s Mom and can consult with you about how to write a & Pop businesses grow and scale up. At the successful business plan, obtain capital, market U.S. Small Business Administration (SBA), your business, manage your working capital, we are committed to empowering potential obtain a government contract, and export to entrepreneurs and small business owners the billions of consumers who live outside of like you who help drive America’s economy. our borders. In today’s competitive global landscape, small businesses face major opportunities My personal commitment to help SBA serve and challenges. The SBA is here to help America’s small businesses is rooted in my with capital, counseling, contracts, and loan own entrepreneurial experience. Before taking assistance after a natural disaster. But our work on the leadership of SBA, I started three small doesn’t happen alone. Just like any seasoned businesses, including a community bank entrepreneur can tell you, effective partnerships that specialized in small business lending. I are pivotal to an organization’s success. understand firsthand the sacrifice, struggle and strength that entrepreneurs muster That’s why we have dedicated resource every single day to sustain their vision. My partners located in close proximity to virtually success depended on my ability to seek out every community in America. These partners knowledgeable and trusted counselors. I amplify the support SBA offers through one- wish I knew then what I know now: SBA and on-one counseling, training and mentorship. its resource partners offer the services and mentorship that can help you propel your This issue of our resource guide spotlights business. the 35th anniversary of our Small Business Development Centers. SBDCs are the most I encourage you to leverage the partnerships comprehensive small business assistance SBA and SBDC offer. Consult this resource network in the world, serving America’s guide for more information and visit urban centers, rural towns and underserved www.sba.gov/ tools/local-assistance/sbdc to communities. They are hosted by universities find your local center. and economic development agencies, and funded in part through cooperative agreements After all, our business is to empower yours. with SBA. Sincerely, Small business owners and aspiring entrepreneurs can go to one of the more than 940 SBDC service locations throughout the Maria Contreras-Sweet United States and its territories to obtain free Administrator professional counseling from qualified business U.S. Small Business Administration

6 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma

The U.S. Small Business Administration FROM THE REGIONAL ADMINISTRATOR

Message From The New England Regional Administrator

Whether you’re seeking financing or Today’s SBA is customer friendly and government contracting opportunities, more cost effective. We have made education and technical assistance, the process of starting or expanding looking to expand your business a small business easier than ever for by exporting to foreign markets, or entrepreneurs. We implemented a trying to make sense of federal or new credit scoring model for loans of state regulations, the SBA has the $350,000 and under, and launched resources available to help you. The SBA One, which has stream lined SBA offers free or low cost, confidential, and simplified our lending process. one-on-one counseling, classroom These improvements are designed to and web-based training, assistance modernize our services and provide in obtaining business loans, venture greater capital to small businesses. capital, surety bonds and government Finally, we are also working to improve contracts through our offices in Boston our training and counseling, which and Springfield. We also partner we know are vital to small businesses, with SCORE, the Massachusetts through online and video courses and Small Business Development Center chat sessions at our learning center at: Network and the Center for Women www.sba.gov/tools/sba-learning-center. & Enterprise, SBA’s official women’s business center. Finally, we offer a full range of online and video small business Seth A. Goodall courses and chat sessions at our learning New England Regional Administrator center at: www.sba.gov/tools/sba- U.S. Small Business Administration learning-center.

8 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma The U.S. Small Business Administration FROM THE SECRETARY

Message From The Secretary Executive Office of Housing and Economic Department

Massachusetts’ small businesses employ attract the talent they need, and ensure that nearly half of our private workforce and drive residents can afford to live in our cities and economic growth and job creation throughout towns. the Commonwealth. The Baker-Polito Administration is committed to supporting In 2015, EOHED established the first Assistant these businesses by addressing barriers to Secretary of Innovation, Technology, and success, building the best-trained and most Entrepreneurship to work with small start-ups highly educated workforce in the country, and build our entrepreneurial ecosystem to help and creating a business environment that address the issues that new companies face, encourages growth. while facilitating growth among more mature businesses. Last year the Executive Office of Housing and Economic Development (EOHED) met To build a regulatory environment that with thousands of residents, small business encourages job creation and economic growth, owners, and interested groups to design an Governor Charlie Baker signed Executive Economic Development Plan that addresses the Order 562, initiating a year-long process of real needs of businesses. We heard concerns regulatory reform to increase efficiency and about a need for talent, a need for a better competitiveness. regulatory structure, and a desire for someone in government to address new problems as they I am proud of the work we have done so surface. far this year to support small businesses throughout Massachusetts, and look forward To address workforce concerns and bring to a continued partnership with the Small advanced manufacturing jobs to Massachusetts Business Administration and the Small Business we funded more than $10 million in skills Development Centers to help businesses access training from the Berkshires to Cape Cod, and the services and support they need. are working with Massachusetts’ high schools, vocational/ technical schools, and institutions Sincerely, of higher education ensure that graduates have the skills they need to get jobs and grow Jay Ash our businesses. And we are pushing for more Secretary affordable housing state wide to help employers Executive Office of Housing and Economic Development

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 9 MESSAGES

Message From The State Director of SBA’s Massachusetts Small Business Development Center Network

The Massachusetts Small Business The recruitment for applicants for the Boston and Development Center (MSBDC) Western regional offices is expected to be completed by Network has had a year of continued the spring of 2016. success. Our very talented staff continues to be recognized for making the MSBDC Network a premier In FY15, the MSBDC provided free, confidential, high- service delivery system for small business needs within quality, in-depth business advisory services, training, and the Commonwealth. capital access to over 6,000 clients. This encompassed 23,059 hours of one-to one business assistance and Paula Camera, senior business advisor with our 10,282 training hours through numerous outreach sites Central Regional Office, was the recipient of the 2015 across the Commonwealth. Massachusetts Star Performer during the annual ASBDC conference in San Francisco. Also during the year, business advisors helped clients secure over $44.7 million in financing, increased export The Berkshire Regional Office and eight of our clients sales by over $100 million, and contributed to the were honored on May 4th at the annual New England- creation and retention of 3,256 jobs. wide National Small Business Week Massachusetts In 2015, Dr. Chrisman conducted an impact survey of Awards Ceremony. The Berkshire Regional Office was long-term clients serviced by the MSBDC to assess the the recipient of the Small Business Development Center value of services. The return rate for the survey was Excellence and Innovation Award. extremely high at 29.7%. Long-term clients certified that $2.57 in tax revenues were generated for each dollar MSBDC Boston Regional Office client Todd Snopkowski, expended on the program from federal, state and local president of SnapChef, which provides culinary staff, funding sources. received top honors as Small Business Person of the Year. The survey also showed that MSBDC clients outperformed the sales growth for all Massachusetts Three senior staff members of the MSBDC companies at a rate of 16.4% versus 4.4%. In addition, Massachusetts Export Center / International Trade MSBDC clients had higher job growth for established Program earned their Certified U.S. Export Compliance firms (14% versus the Massachusetts average of 1.6%). Officer (CUSECO) designation, the industry standard for professionals working as export compliance practitioners The MSBDC’s success is directly related to our highly- in the private sector. Paula Murphy, director of the skilled professional staff and strong partnerships Massachusetts Export Center, Kathleen Kinahan-Newell, with the U.S. Small Business Administration, the trade compliance manager, and Julia Dvorko, Central Massachusetts Department of Business Development, MA regional director, were awarded credentials this past higher educational sponsors led by the University summer from the International Import Export Institute of Massachusetts Amherst, Isenberg School of (IIEI). To receive the certification, they each took a Management, and a wide range of supporters in the rigorous four-hour 200 question exam to demonstrate business community. a thorough understanding of the U.S. Commerce Department’s Export Administration Regulations (EAR), Sincerely, the U.S. State Department’s International Traffic in Arms Regulations (ITAR), and the U.S. Census Bureau’s Foreign Trade Regulations (FTR).

This year has been one of transitions for three MSBDC Georgianna Parkin regional centers. The regional directors of the Western, State Director Northeast and Boston regional offices all retired. The Massachusetts position in the Northeast Regional Office was filled Small Business Development Center Network recently by Ken Roffe, who started in November 2015. www.msbdc.org

10 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma MESSAGES

Message From The District Director of SBA’s Massachusetts and Rhode Island SCORE

SCORE is an SBA resource partner Contact the SCORE Chapter nearest you to make an dedicated to the formation, growth and appointment to discuss your business ideas; to brainstorm success of small businesses throughout the about specific business issues or to enroll in relevant business USA. workshops. Primary SCORE locations in Massachusetts and Rhode Island are listed in this guide. Its 9000 volunteer members, operating in all 50 states are made up of business people who have chosen to offer I wish each of you success in your business ventures and the expertise that made them successful by providing hope you will avail yourself of the experience the experienced entrepreneurs with free counseling. Confidential counseling volunteers in Massachusetts and Rhode Island can bring to is offered in face to face; telephone; email and Skype your ideas. configurations. One-on-one counseling sessions and workshops are offered at over 300 locations across the US. Cordially,

In 2015, 290 SCORE volunteers in Massachusetts and Paul A. Waldeck Rhode Island held over 11,000 face to face and email District Director training sessions with clients at their seven main locations SCORE Massachusetts & Rhode Island and 60 satellite sites throughout the Commonwealth. All www.score.org local Chapters offer low or no cost workshops. In the first 4 months of FY 2016 almost 3000 people attended these dynamic local workshops. Message From the CEO, Center for Women & Enterprise

The Center for Women & Enterprise ideas and business processes, and forums for the kind of is a regional entrepreneurial training networking that has contributed to the enormous growth in organization with offices in Eastern and women-owned business. This year we are introducing new Central Massachusetts, Rhode Island, New Hampshire and programs in our Centers, out in the community (Community a new office opening this year in Vermont. We provide Classrooms) and online. CWE also offers a full range of opportunities for women entrepreneurs and women in consulting services, including legal, marketing, finances, and business to increase professional success, personal growth, general business strategy. Our class catalog can be found on and financial independence. CWE offers education, training, our website, www.CWEonline.org. and technical assistance to entrepreneurs at every stage of business development, and from a wide variety of racial, Whether you are just beginning your journey on the path to ethnic, and socio-economic backgrounds – spanning the entrepreneurship or if you already own a small business, our range from women in public housing who may want to start staff is ready to assist you. home-based or small retail businesses, to women running fast – growth technology businesses. As a benefit corporation, Owning a small business is both challenging and rewarding. I CWE provides its services on a sliding-scale basis in order to wish you success in your venture. serve all women, regardless of their ability to pay. Sincerely, Our organization has been a SBA resource partner since our founding 21 years ago in 1995. More than 33,500 women and Susan Rittscher men have been trained in that time, many of whom have President and CEO achieved real economic success in pursuing their dream of Center for Women & Enterprise owning their own business. 617-536-0700 www.cweonline.org CWE’s expertise lies in its training and education programs which provide crucial information, exposure to new

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 11 Message From The District Director MASSACHUSETTS SBA Staff Listing “How SBA Can Help www.sba.gov/ma Boost Your Business”

OFFICE OF THE Pauline Swanson DISTRICT DIRECTOR Economic Development Specialist Robert Nelson 617-565-5564 District Director [email protected] !"#$%&'()%*+$"%,-.%*/0%1203% In late 2015 SBA launched two major 617-565-5561 established, we have grown and online initiatives, LINC and SBA ONE. [email protected] Lisa Gonzalez Welch $4564$7%0!8"!1#/"369:%;<3%3+$% LINC is an online portal that helps small Economic Development mission has remained the same. businesses connect with prospective SBA Anne Rice Hunt Specialist Together with our partners, lenders……think online dating…but for Deputy District Director Women’s Business Rep. Slenders and networks, we are here to help small business loans. We have seen many 617-565-5577 617-565-5588 the economy expand and create jobs and successes with LINC and expect even more [email protected] [email protected] to help our small businesses start, grow and results as more and more lenders sign on to Michele Meade LENDER RELATIONS succeed. It is a mission all of us at the MA be LINC lenders and more small businesses Administrative Officer/ SBA are passionate about. We want to be 1"7%5<3%/;5<3%3+!0%"$*%$/09%35%<0$%3556G%%%% Economic Development Nadine Boone your small business resource and to help SBA ONE is a new lender processing Specialist Lead Lender Relations you take your business to the next level. As ?6/3F52>%7$0!8"$7%35%!"#2$/0$%3+$%$F1#!$"#9% 617-565-8417 Specialist for evolution, SBA today is well underway of the loan application process, making it [email protected] 617-565-8514 with a number of new exciting initiatives easier for our lending partners to process [email protected] to take us to the next level and to be an SBA loans and to make the approval OFFICE OF DISTRICT agency that is Smart, Bold and Accessible! process quicker for small businesses. It is COUNSEL Ili Spahiu certainly exciting times at the SBA. Lender Relations Specialist As you explore the 2016 edition of the Mary Laura Russell 617-565-5569 Massachusetts Small Business Resource H$%/3%3+$%I/00/#+<0$330%J!032!#3%KF1#$% District Counsel [email protected] 617-565-8411 =/"9% take pride in our work, particularly when it [email protected] Carlos Hernandez tools and resources that are available to empowers you to turn your business ideas Lender Relations Specialist +$6?%95<%/772$00%95<2%0?$#!1#%"$$70@ into reality. We feel that each successful Casey Lyons 617-565-5565 business in the Commonwealth contributes Attorney [email protected] • Learn how to get help with a business to our collective prosperity. This work 617-565-5625 ?6/"%/"7A52%35%1"7%3+$%>/"9% includes outreach into our underserved [email protected] SPRINGFIELD BRANCH outreach locations where you can markets. We understand the importance OFFICE >$$3%5"%/%#5"17$"3!/6:%5"$B5"B5"$% of business ownership in communities that BUSINESS DEVELOPMENT basis with our dedicated cadre of have been hit hard by our latest recession 8(a) Business Development Oreste Varela business advisors to get the answers and making sure that all have equal access Branch Manager you need; to opportunities through entrepreneurship. David Polatin Springfield Branch Office • Find out about the many sources and Lead Business Opportunity 1 Federal St., Bldg. 101-R types of small business loans we can Specialist Springfield, MA 01105 As the Massachusetts SBA District /00!03%*!3+%!"#6<7!"8@%%>!#2565/"0C%% Director, I invite you to look over this guide 617-565-5562 “Ready to serve my $D?523%1"/"#$%?257<#30C%;$65*% [email protected] community, through business and connect with us. Call or e mail us and market priced real estate loans; and development and education.” working capital lines of credit. We be sure to check out www.sba.gov/ma to Theresa Mooers 413-785-0484 Office have programs to help you whether see all of the events and workshops taking Business Opportunity 413-222-4286 Cell place in all corners of the state. I along Specialist [email protected] 95<%/2$%/%03/23B>$2#!/6%65/"%/66%3+$%*/9% with my team of eleven small business 617-565-5604 The branch office serves professionals look forward to assisting you [email protected] Berkshire, Franklin, Hampden up to high tech or growth oriented and Hampshire Counties. businesses in need of venture funding; and being part of your team. ECONOMIC DEVELOPMENT • Explore ways to increase revenues by selling your goods and services Sincerely, Norman Eng to local, state and the federal Economic Development government. We have a number of Specialist & #$23!1#/3!5"%?2582/>0%35%+$6?%0>/66% Public Information Officer businesses compete effectively and 617-565-8510 experts to help you navigate and to Robert Nelson [email protected] succeed. District Director of !"#$%&'(%%()*+%,--%&./%-0/)-&12),

12 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma The SBA helps business owners grow and expand Doing Business in Massachusetts their businesses every day.

THE MASSACHUSETTS DISTRICT OFFICE 3&2#$PE$&-#&$P&>K$&>2$>1>QP&>K$ Assistance is available for veteran, !"#$%&''&(")'#**'$+,'*-,(*$./(#$,'$ lenders. For information call service-disabled veteran small business responsible for the delivery of SBA’s 617-565-5590. owners and reservists. The Massachusetts many programs and services. The District Veterans Business Development Director is Robert H. Nelson. The District Free counseling, advice and information Specialist is Oreste Varela at 413-785-0484 ./(#$,'$01(&*#2$&*$*"#$!"13&'$45$.67#,00$ on starting, better operating or expanding or [email protected] Federal Building, 10 Causeway Street, a small business are available through 8113$9:;<$=1'*1><$%?5$$./(#$"1)-'$&-#$ the SCORE - Counselors to America’s ./(#$1@$S1N#->3#>*$J1>*-&(*,>H @-13$ABCD$?%$)>*,0$;BDD$4%<$%1>2&E$ Small Business www.score.org, Small O’Neill Federal Building through Friday. Business Development Centers (SBDC) 10 Causeway Street, Boston, MA 02222 www.msbdc.org and Women’s Business Janette Fasano, Area Director Centers (WBC) www.cweonline.org. They 617-565-5622 !"#$FG-,>HI#02$=-&>("$./(#$,'$01(&*#2$&*B also conduct training events throughout [email protected] F!JJ$!#(">101HE$4&-K< the district - some require a nominal One Federal Street, Building 101-R registration fee. Events are listed on the Training FG-,>HI#02<$%?$$DLLD; Calendar at: www.sba.gov/ma ./(#$"1)-'$&-#$@-13$ABDD$?%$)>*,0$ Assistance to businesses owned and MBCD$4%5 controlled by socially and economically disadvantaged individuals through the ./(#$1@$?2N1(&(E$8#H,1>$O =)',>#''$+#N#01G3#>*$4-1H-&35$J1>*&(*$ O’Neill Federal Bldg., 10 Causeway St., +&N,2$410&*,>$&*$:LRQ;:;Q;;:9$1-$#3&,0B$ We Welcome Your Rm. 275A, Boston, MA 02222 [email protected]. Questions Lynn Bromley, Regional Advocate For extra copies of this To reach Lynn call 617-565-8418 or for Special loan programs are available for publication or questions more information visit businesses involved in international please contact: www.sba.gov/advo. trade. For more information, please contact: CONTACTING THE MASSACHUSETTS U. S. Export Assistance Center %&''&(")'#**'$+,'*-,(*$./(# John F. Kennedy Federal Bldg., !"13&'$45$.67#,00$T#2#-&0$=),02,>H DISTRICT OFFICE 10 Causeway Street, Room 265 For program and service information, Suite 1826A 55 New Sudbury Street Boston, MA 02222-1093 please contact us at 617-565-5590. Boston, MA 02203 Tel: 617-565-5590 John Joyce, Website: www.sba.gov/ma SERVICES AVAILABLE Regional Export Finance Manager E-mail: [email protected] Financial assistance for new or existing 617-565-4305 businesses through guaranteed loans

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 13 Celebrating a Resource Partner Milestone by Paula Panissidi, SBA’s Director of Marketing

If you’re a small business owner, focus areas, such as green business whether you’re just starting out or have technology, disaster preparedness been in business for a while, you’re and recovery, veteran’s assistance, likely wearing multiple hats…So many technology transfer, and regulatory hats, in fact, that it’s very easy to miss compliance. And, with more than the little successes along your journey 900 locations throughout the country, as an entrepreneur. Those milestones Guam, Puerto Rico, American Samoa, give us perspective and, often, a sense and the U.S. Virgin Islands, SBDCs of accomplishment. They allow us to are unparalleled in their reach as see just how far we’ve come. So, it’s a professional business counseling important to celebrate them. network.

Hiring your first employee. The first In recognition of the tremendous month you made a profit. Getting your contribution SBDCs have made and first huge client or public endorsement. continue to make to the growth and

FEATURE Securing that first loan so you can sustainability of America’s small expand your business. Opening businesses, this edition of SBA’s Small that second location. These are all Business Resource Guide is dedicated to important milestones, but many years America’s Small Business Development in the future these milestones will Centers. The next several pages profile also help you gauge the impact you’ve just a handful of the small businesses made…whether on an individual, in a that have succeeded, in large part, due community, or globally. to the assistance they received from an SBDC. We hope these stories both It is with this appreciation for milestones inspire and motivate you to pursue the in mind that we recognize the 35th path of entrepreneurship. anniversary of the Small Business Development Center (SBDC) program. To learn more about Small Business Funded in part through cooperative Development Centers, please read the agreements with the SBA, SBDCs offer Counseling section of this resource guide. existing and future entrepreneurs free 34&567&-*,&6,(0,%-&!".89&:/%/-& business counseling and planning www.sba.gov and click on the Local assistance, as well as insight and Assistance tab. guidance with respect to several special

14 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma SUCCESS STORY EMSEAL: How a $10 Thousand Grant Turned into a $1.5 Million Sale

Federal grants for starting a business do not exist -- but there access expert resources such as U.S. Commercial Service and are certain grants for growing a business and other initiatives the State of Massachusetts Office of International Trade that help achieve specific agency agendas. For example, in order and Investment that led to valuable connections paving the for America to be competitive globally -- the SBA administers way to exponential export growth. In 2014, exports accounted for grants for small businesses conducting scientific research about 12% of the company’s total revenue – growing about 30% & development and innovation in high-tech (SBIR/STTR). from the previous four years. As a result of the new business Government grants are very competitive and have strict rules and growing interest in their products worldwide, EMSEAL was for what the funds can be used for. The STEP (State Trade also able to create eight new jobs. Today, EMSEAL has about 60 and Export Promotion) grant originated because of the Small international distributors in almost 50 countries worldwide and is Business Jobs Act of 2010. Part of this law builds on the poised for a much stronger increase in export sales over the next President’s National Export Initiative, supporting and promoting several years. American companies to grow sales outside the United States and create jobs – which is why we have the STEP program. “Export has always been a part of our business, my father and family immigrated to Massachusetts from South Africa in 1979 -- Westborough, Massachusetts-based EMSEAL took full and I think that we brought with us the feeling that the world is advantage of SBA’s STEP program in 2013 -- using a 10K not such a terribly big place after all, and with the right approach, grant to fund a trade mission to the United Kingdom and a you can benefit from it in business.” said Lester Hensley, CEO of targeted print media campaign to raise awareness about the EMSEAL at an export event. company. EMSEAL leveraged this opportunity to connect with key decision-makers in the architectural design and engineering This year, EMSEAL was recognized doubly for all their success, fields responsible for the construction of large commercial and being awarded with the 2015 New England Exporter of the public projects around the world. EMSEAL’s closing of a $1.5 Year and also 2015 Massachusetts Exporter of the Year. million sale to help fortify the new construction of King Abdullah Sports City Stadium in Jeddah, Saudi Arabia – was one of the “The Exporter of the Year award by the SBA is significant and many successes as a result of the STEP program nationally. it is noteworthy that EMSEAL was named not only the MA In addition to the export contract won in Saudi Arabia, other Exporter of the Year, but also the New England Exporter of notable sales that year included London’s Heathrow Airport the Year. The rallying wisdom at EMSEAL is “This is not our and the San Francisco 49ers’ new Levi’s Stadium domestically – recession – we will not participate” and the numbers show the making a record year for the company. results…a fantastic business that has expanded over time with increased revenues, profitability, territories and employees.” said How did they do it? Since 2004, EMSEAL has been guided by Robert H. Nelson, Massachusetts District Director. the free business advisory services of the Massachusetts Export Center, which is part of the Massachusetts Small Business About EMSEAL Development Center – supported by SBA, the Massachusetts EMSEAL is a manufacturer and distributor of pre-compressed Department of Business Development and the University of sealants and expansion joints for commercial, industrial, and Massachusetts Amherst, Isenberg School of Management. institutions worldwide. EMSEAL is the leading innovator and manufacturer of premium sealants and expansion joint systems As a result of developing a longstanding relationship with their for the commercial construction industry as well as for numerous local international trade specialist – Julia Dvorko, PhD., Central gasketing applications in specialty market applications. The MA Regional Director for MA Export Center – EMSEAL has Company operates from multiple locations. The corporate been able to identify and evaluate international distributors headquarters in Westborough, Massachusetts is the primary in numerous foreign markets and significantly increase its sales, marketing, and technical support unit for worldwide sales geographic footprint into some very challenging emerging as well as the manufacturing unit for the Company’s engineered, markets, including: Afghanistan, Iraq, Ukraine, Jordan, extruded joint product lines. Its two Toronto, Ontario locations Indonesia, India, among other nations. Julia worked with (EMSEAL, LLC) manufacture EMSEAL’s pre-compressed, EMSEAL’s International Project Manager, Bashar Moussallieh to impregnated foam sealant technologies.

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 15 SUCCESS STORIES Rosalie the Riveter subsequently worked closely with a local SBA representative and Rosalie Berger, Owner SBDC to receive a 9-11 economic recovery loan. RTR Technologies 48 Main Street Since 1993, Rosalie has been carving out a niche market for her Stockbridge, Ma 01262 company and working with clients globally in the mass transit industry. RTR is a market leader in sustainable design and www.rtrtechnologies.com manufacturing of energy-efficient heating and de-icing systems for Rosie the Riveter, an American icon made famous by Norman rail and mass transit systems. As a certified woman-owned business, Rockwell hung for years in the Norman Rockwell Museum, in Rosalie has come a long way in an industry, mostly male-dominated Stockbridge, MA. Today, the former museum is where Rosalie -- where long sought after government contracts were highly Berger is getting her inspiration and building her business as CEO of competitive. RTR is a company that has sustained itself through the RTR Technologies. years, by utilizing the SBA tools available that were meant to help disadvantaged businesses. Years of perseverance paid off this past Rosalie didn’t set out to be a business woman. She was an early year, when RTR was awarded a $6.5 million contract to modernize childhood reading teacher in Coney Island, NY, for eight years but control systems for contact rail heat and switch heaters throughout always had a fascination with manufacturing. After teaching she the entire Massachusetts Bay Transportation Authority (MBTA) got into real estate and was very successful with her expertise in system. evaluating buildings for developers -- which led to her becoming a broker. In 1989 she was showing an apartment to a client that Today her company employees over 40 personnel with over $30 happened to be an engineer with an idea for a “third rail” heating million in projects, with MBTA, NJ Transit, and Washington-Dulles system for train tracks. This gentleman was Craig Berger, who later transit to name a few. She remains energetic and passionate - became her husband. Was it a fortuitous meeting or fate? Either “Success through Service” is her mantra which is the pervasive way, her love of manufacturing led to the founding of RTR. The attitude throughout her company. She adores the “Old Corner company had received a lot of success in the early years until the House” built in 1782 which is the company headquarters. In fact tragic events of 9-11. Rail use plummeted and with it, her business she is personally responsible for selecting the art work and other was in peril. adornments. Art being a passion of Rosalie’s -- it is no surprise that she takes pride in supporting artists, art venues and various other Rosalie turned to SBA and the Small Business Development Center local charities. Network for guidance. ”If it weren’t for the SBA, we would be out of business”, says Rosalie. Prior to 9-11 RTR utilized two SBA loans Rosalie has worked hard to make her company successful. She to fund its business. After 9-11, “traditional” lenders would not sought and received assistance from SBA which propelled her approve a loan for her business. She was in dire straits and company forward. Rosie the Riveter would be proud. Aspen Aerogels: Getting from Government Funded to Going Public An interview with George Gould Ph.D., Vice President of Research and Development

The Small Business Innovation Research company. An energy technology company that designs, develops program was established with the goal of and manufactures innovative aerogel insulation; Aspen won its first strengthening the role of innovative small businesses in federally- SBIR award in 2001 in their first year after spinning off from Aspen funded research and development. SBIR is a competitive, awards- Systems Inc. – an SBA 8A firm. Since then, the company has grown based program that enables small firms to explore their technological from an 8 employee operation with $2 million in revenue to a 250 potential in three phases -- while providing an incentive to profit employee operation with over $100 million in annual commercial from commercialization. revenue. In 2014, Aspen Aerogels started trading on the New York Stock Exchange and completed its initial public offering - raising Although the government-wide program was officially established $75 million for expansion and investment in its business. Due under the Small Business Innovation Development Act of 1982 to a change in the ownership rules Aspen Aerogels Inc. is no by the Reagan Administration, the founding father of the SBIR longer eligible for SBIR funding – but their rise from a government program – Roland Tibbetts – championed the cause decades earlier supported company is a true testament of Roland Tibbetts’ vision for while serving as the SBIR program manager at the National Science the SBIR program. Foundation from 1976 to 1996. Mr. Tibbetts was a distinguished Veteran, a First Lieutenant in the US Army Air Corp during World How did they do it? War II who understood the value of government funded programs. After serving his country, he benefitted from the GI Bill – which George Gould Ph.D., Vice President of Research and provided him with a means to receive his undergraduate degree Development shared best practices and tips for other small from Boston University and his MBA from Harvard. Mr. Tibbetts innovative firms starting out just as Aspen Aerogels did over a also worked as a VP of small hi-tech firms and saw the challenges of decade ago. pursuing federal R&D funding first-hand; one of the many reasons he saw a need to lobby for a permanent SBIR program. Today, the Aspen Aerogels has been very successful at being funded multiple SBA honors the Tibbetts Award annually in the spirit of Roland SBIR awards with multiple agencies such as: NASA, Air Force, Tibbetts to those SBIR companies that demonstrate economic Missile Defense Agency, and Department of Energy over the course impact and technological innovation. of your career – is this common?

SBA 2015 Tibbetts Award Winner: Aspen Aerogels “It’s not common, but it’s not rare. There are companies that are Aspen Aerogels is one of the success stories that started as an really good at this. You get smart people together and you learn SBIR-funded company – then grew to the size of a publicly traded how to write and market ideas to get some investment; to check out continued on page 17

16 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma SUCCESS STORIES Aspen Aerogels continued from page 16

your idea; to see if it has value,” said Mr. Gould, “We didn’t have as the entity that you began as – it’s all venture capital backing or an owner with deep pockets -- I came about the process of making it is where out of academia and I was used to writing proposals. I don’t know there is a lot of economy. Small businesses of other ways to survive… If you don’t get funded, you don’t do come and go, but the companies that stay anything, you get fired or close your doors – so you need to scratch relevant are the ones that generate more and propose work.” jobs, more technology, more investment, more value, more revenue, and more What are some words of wisdom you would share with other excitement. That’s a company like ours, companies seeking a similar path to success through the SBIR where we went from a handful of people to employing well over 250 program? people. We went from $2 million in SBIR contracts – to revenues of · Experience is a key ingredient to success. Almost everybody on the well over $100 million.” added Mr. Gould. team was a Ph.D. and an expert in areas such as: materials science, aerogels, high-temperature materials, process engineering. We began “SBIR is all about developing a new technology, commercialize laying the foundation for the technology with our people first. In effect, it, and it has to match with what the sponsors need in terms for what the SBIR program allowed us to do is to employ a few more very qualified people for a longer period of time, than we otherwise wouldn’t solutions, you need to do an honest job to provide your sponsors have been able to support – and they are still here. with solutions. I think we’ve been recognized because we create · You need to have a winning idea, without that you don’t get anywhere. very high quality solutions, we know how to deliver for what the New technology or products must be significantly better than what is customer wants. We don’t propose things, that don’t have a pretty currently out there on the market; let’s say by a factor of ten times better good chance of working, but we also push the envelope.” than your competitors. Ten times is tough, but if you don’t shoot for ten times better you may not get there. Shooting for 2 times better, you Applying for the SBIR Program: may only get to 30% better. . Really what we invented wasn’t aerogel There is no single application to participate in SBIR or STTR. It is – what we invented were the processes to make aerogels rapidly, at dependent upon the R&D needs as needed – of the participating Fed low-cost, functional, and practical. We made a new form of aerogel, a agencies/departments. composite and flexible format. SBIR solicitations follow a grant path or procurement/contracting · Leverage the investments being made in your company, from path. Starting at the local level, we recommend taking the following sources like SBIR. You need to use those investments wisely; you need steps to begin the process: to create a customer base that is willing to support you – because one grant or one series of grants is very unlikely to take you past the finish STEP 1 – Meet with an SBDC Counselor for intake and an initial line. It’s just the way it is. There’s just not enough money and not counseling session to explore feasibility and prepare research. enough time. To do what we’ve done in the materials company, it takes In Massachusetts, please contact: many years - plus you have to build a factory at hundreds of millions in investments. You need to leverage your investments of other people Massachusetts Small Business Development Center at Clark because that will allow you to be successful with your good idea. SBIR University didn’t build our laboratory. But we were able to defray some costs or Arthur Martin leverage investment by the government or other sources – vice versa to Senior Business Advisor/Technology Specialist build the company. By more sources of investment, the better chance [email protected] you have to succeed. · What we did is not just focus on technology as a company, we built Southeastern Regional Small Business Development Center a business. It put a lot of burden onto the R&D team, because our Daniel Lilly research team was expected to pay for ourselves – the lights and rent Senior Business Advisor/Procurement Specialist throughout the history of our company. That was our responsibility – so [email protected] one piece of advice is accept that responsibility – rise to the challenge, don’t just say you need to feed me because I give good ideas. It’s got to STEP 2 – Do Your Homework! be about survival, do what you can for the company. Research other successful awards in an area of interest – “aerogels” · While you are building the technology and doing a good job with your for example – to find agencies and program managers that are customers – you need to have a good business plan. What is your interested in that topic. Use www.SBIR.gov and www.Zyn.com/sbir strategy? You need to set that business strategy; it can’t be something to do the research. you come up with later. You need to have good leadership, hire Once you find an agency and program manager interested in the quality people and have technical people who know something about science, make contact and find a matching solicitation that is relevant. developing the idea. If you’re going to do manufacturing, you’ve got to hire people who know something about it. Technical people need to STEP 3 – Prepare to do Business with Government bring forth what they’re doing on their piece of it – they need to help First essential steps are to register with the following websites: develop it – but ultimately, they need to hand it off to people who know 1) Get a free DUNS Number ­ a unique 9­digit number that how to commercialize it. is required for all businesses to register with the federal · Partner with larger companies to leverage your understanding government for contracts or grants. of your technology. Get them interested because they can help you 2) Register on www.SAM.gov – required for doing business perfect your technology by setting very high requirements. For example, with the government. government agencies are very exacting customers that put challenging 3) Register on www.GRANTS.gov – set an email alert certain requirements out there – so if you can deliver products that they like – topics come up in a solicitation for proposals. you are in good shape if you can satisfy what they like. If they want to 4) Register on www.SBIR.gov – set up a small business user buy it, than other people will want to buy it when it becomes affordable. account and follow the steps under “I am a/an” “Applicant”.

Final Thoughts STEP 4 – Begin the Proposal Process Using the Specific Agency’s “We benefitted immensely from the SBIR program. We are one of Portal the very few companies I think that have survived the rigors of going Follow the specific instructions posted for each solicitation – every from a neonatal care type company into something that has strength agency is different. Whether you are awarded or not, you will hear and revenue.”, said Mr. Gould. back from the agency. For example, if you are interested in SBIR solicitations with the Department of Defense, you need to register with the DoD SBIR/ “Let’s separate it from SBIR program – I think around 1% of startups STTR Small Business Portal. survive under any circumstance. So to be a success story and survive

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 17 COUNSELING Getting Help to Start, Market and Manage Your Business

Found in more than 300 chapters throughout the country, SCORE provides key services – both face­to­face and online – to busy entrepreneurs who are just getting started or are in need of a seasoned business professional as a sounding board for their existing business. As members of your community, SCORE mentors understand local business licensing

COUNSELING rules, economic conditions and important business networks. SCORE can help you by: ;''<(6+=$%,'23"5'#-&+$*+'%&&)#'>$6='(' business mentor • Traveling to your place of business for an on­site evaluation very year, the U.S. Small Development Centers, and 110 Women’s • Teaming with other SCORE Business Administration Business Centers. These professionals mentors to provide you with tailored and its nationwide network can help with writing a formal business assistance in a number of business of resource partners help -.(%7'.3+(6$%,'#3"5+&#'31'*%(%+$(.' areas millions of potential and assistance, managing and expanding Across the country, SCORE offers Eexisting small business owners start, 23"5'!"#$%&##7'*%)$%,'3--356"%$6$&#' more than 10,000 educational grow and succeed. to sell your goods or services to the workshops and seminars depending Whether your target market is global government, and recovering from on the needs of the local business or local, the SBA and its resource )$#(#6&5/':3'*%)'23"5'.3+(.')$#65$+6'31*+&' community. The SCORE workshops partners can help at every stage of or SBA resource partner, visit cover all manner of business topics, turning your entrepreneurial dream www.sba.gov/tools/local-assistance. including: an introduction to the into a thriving business. fundamentals of a business plan, If you’re just starting out, the SBA SCORE 8(%(,$%,'+(#='?3>'(%)'8(59&6$%,'23"5' and its resources can help you with SCORE is a national network of more business. For established businesses, !"#$%&##'(%)'*%(%+$%,'-.(%#/'01'23"45&' than 11,000 entrepreneurs, business SCORE offers more in­depth training already in business, you can use leaders and executives who volunteer as in areas like customer service, digital the SBA’s resources to help manage mentors to America’s small businesses. marketing, hiring practices and and expand your business, obtain SCORE volunteers donated more than operating home­based businesses. government contracts, recover from 1.2 million hours providing services For around­the­clock business advice )$#(#6&57'*%)'135&$,%'8(59&6#'135'23"5' to small business clients. SCORE and information on the latest business produce or services, and make your leverages decades of experience from news and trends visit www.sba.gov/score or voice heard in the federal government. seasoned business professionals to +(..'@AABCDEBAFEG'135'6=&'HIJKL'31*+&' You can access SBA information at help entrepreneurs to start and grow nearest you. More than 1,200 online www.sba.gov or visit one of our local companies and to create jobs in local mentors are available to answer your 31*+&#'135'(##$#6(%+&/ communities. SCORE does this by questions about starting and running harnessing the passion and knowledge a business. For more information on SBA’S RESOURCE of individuals who have owned and SCORE and to get your own business managed their own businesses and want mentor, visit www.SCORE.org. PARTNERS to share this “real world” expertise with ' '0%'())$6$3%'63'3"5')$#65$+6'31*+' you. which serve every state and territory, the SBA works with a variety of local resource partners to meet your small • You get to be your own boss. business needs: SCORE chapters, Small Business Development Centers ON THE UPSIDE • Hard work and long hours directly benefit you, (SBDCs), and Women’s Business rather than increasing profits for someone else. Centers (WBCs). This partner It’s true, there are a lot of network reaches into communities reasons not to start your • Earnings and growth potential are unlimited. across America: More than 13,000 own business. But for the right person, the advantages • Running a business will provide endless business counselors, mentors and variety, challenge and opportunities to learn. trainers are available through over 300 of business ownership far SCORE chapters, 900 Small Business outweigh the risks.

18 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma

SCORE CHAPTERS IN MASSACHUSETTS offer existing and future entrepreneurs Berkshire Regional Office free one­on­one expert business 33 Dunham Mall, Ste. 103 Boston SCORE Chapter 20 counseling and low­cost training by Pittsfield, MA 01201 Massachusetts SBA Office N"(.$*&)'#8(..'!"#$%&##'-531&##$3%(.#/ 413-499-0933 10 Causeway St., Rm. 265 In addition to its core business www.msbdc.org/berkshire/ Boston, MA 02222-1093 development services, the SBDCs offer 617-565-5591 Boston Regional Office & www.boston.score.org special focus areas such as disaster Minority Business Center recovery and preparedness, technology University of Massachusetts Northeast Massachusetts transfer and commercialization, Wheatley Hall., 3rd Fl., Ste. 154-10 SCORE Chapter 411 regulatory compliance, and accessing 100 Morrissey Blvd. SCORE NE Massachusetts unique resources for women, minority, Boston, MA 02125 c/o Lynn Area Chamber of Commerce and veteran business owners and 617-287-7750 583 Chestnut St., Unit 8 entrepreneurs. SBDCs have also www.sbdc.umb.edu/ Lynn, MA 01904 978-922-9441 increased their capacity to help U.S. Central Regional Office entrepreneurs enter global markets

COUNSELING [email protected] Clark University www.scorenemass.org through export readiness assessment, 125 Woodland St., Carriage House training, regulatory compliance and First Fl. Right Cape Cod SCORE Chapter 225 a broad range of international trade Worcester, MA 01610 270 Communications Way, Ste. 5-B assistance for new and existing 508-793-7615 Hyannis, MA 02601 exporters. www.clarku.edu/offices/sbdc/ 508-775-4884 • 508-790-2540 Fax The program combines a unique [email protected] Northeast Regional Office www.scorecapecod.com combination of federal, state and private Salem State University sector resources to provide, in every Enterprise Center Southeastern Massachusetts state and territory, the foundation 121 Loring Ave., Ste. 310 SCORE Chapter 422 for the economic growth of small Salem, MA 01970 Metro South Chamber of Commerce businesses. In FY2014 they: 978-542-6343 60 School St. • Assisted more than 9,500 http://sbdc.salemstate.edu/ Brockton, MA 02301 entrepreneurs to start new 508-587-2673 • 508-587-1340 Fax businesses – equating to nearly 26 Southeast Regional Office www.sema.score.org new business starts per day. 200 Pocasset St. Fall River, MA 02721 • Provided counseling services Western Massachusetts 508-673-9783 SCORE Chapter 228 to more than 91,000 emerging www.msbdc.org/semass/ Business Growth Center entrepreneurs and 75,000 existing Scibelli Enterprise Center, Bldg. 101 businesses. Western Regional Office 1 Federal St. • Provided training services to Business Growth Center Springfield, MA 01105 approximately 214,000 clients. Scibelli Enterprise Center, Bldg. 101 413-785-0314 • 413-755-6101 Fax '''':=&'&1*+(+2'31'6=&'HOPI'-53,5(8' 1 Federal St. [email protected] has been validated by a nationwide Springfield, MA 01105 www.westernmassachusetts.score.org evaluation study. Of the clients 413-737-6712 surveyed, more than 80 percent www.msbdc.org/wmass/ Worcester Regional SCORE Chapter 173 reported that the business assistance 446 Main St. Massachusetts Export Center Worcester, MA 01608 they received from the SBDC counselor State Transportation Bldg. 508-753-2929 • 508-754-8560 Fax >(#'>356=>=$.&/':=&'63-'*Q&'$8-(+6#'31' 10 Park Plaza, Ste. 3730 www.worcester.score.org counseling cited by SBDC clients were Boston, MA 02116 revising marketing strategy, increasing 617-973-8664 SMALL BUSINESS sales, expanding products and services, www.mass.gov/export/ $8-53Q$%,'+(#='?3>'(%)'$%+5&(#$%,' DEVELOPMENT CENTERS -53*6'8(5,$%/'<35&'6=(%'EA'-&5+&%6' Procurement Technical Assistance Center The U.S. Small Business Business Growth Center 31'.3%,B6&58'+.$&%6#'>=3'5&+&$Q&)'*Q&' Scibelli Enterprise Center, Bldg. 101 Administration’s Small Business hours or more of counseling reported an Development Centers (SBDC) mission 1 Federal St. $%+5&(#&'$%'#(.&#'(%)'-53*6'8(5,$%#/'''''' Springfield, MA 01105 is to build, sustain, and grow small For information on the SBDC 413-545-6307 businesses; promote small business program, visit www.sba.gov/sbdc. www.msbdc.org/ptac/ development; and enhance local economies by creating businesses and SBDC Locations in Massachusetts U.S. Export Assistance Centers 1".*..$%,'$6#'8$##$3%'31'+5&(6$%,'M3!#/'' www.msbdc.org ' HOR'65()&'*%(%+&'#-&+$(.$#6#'(5&' The SBDCs are vital to SBA’s co­located in 19 U.S. Export Assistance entrepreneurial outreach and have been State Office Centers throughout the U.S., with Georgianna Parkin, State Director providing service to small businesses U.S. Department of Commerce and, in for over 35 years. It is one of the Tillson House University of Massachusetts Amherst some locations, Export­Import Bank largest professional small business 23 Tillson Farm Rd. of the U.S. personnel. This multiple management and technical assistance Amherst, MA 01003 agency collaboration provided trade networks in the nation. With over 900 413-545-6301 -53836$3%'(%)'&S-356B*%(%+&'(##$#6(%+&' locations across the country, SBDCs www.msbdc.org/ in a single location. The USEACs

20 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma also work closely with other federal, and the territories of Puerto Rico and 140,000 clients, creating local economic state and local international trade American Samoa. They are partially growth and vitality. The WBCs helped organizations to provide assistance to funded through a cooperative agreement entrepreneurs access more than #8(..'!"#$%&##&#/':3'*%)'23"5'%&(5' with the SBA. $87 million dollars in capital. Based USEAC, visit: http://www.sba.gov/content/ To meet the needs of women on a 2010 Impact Study, of the WBC us-export-assistance-centers. You can entrepreneurs, WBCs offer services clients that have received three or *%)'())$6$3%(.'&S-356'65($%$%,'(%)' at convenient times and locations, more hours of counseling, 15 percent counseling by contacting your local SBA including evenings and weekends. indicated that the services led to hiring COUNSELING )$#65$+6'31*+&/' TOI#'(5&'.3+(6&)'>$6=$%'%3%B-53*6'=3#6' new staff, 34 percent indicated that organizations that offer a wide variety 6=&'#&5Q$+&#'.&)'63'(%'$%+5&(#&)'-53*6' U.S. Export Assistance Center of services in addition to the services margin, and 47 percent indicated that John F. Kennedy Federal Bldg., Ste. 1826A provided by the WBC. Many of the the services led to an increase in sales. 55 New Sudbury St. WBCs also offer training and counseling In addition, the WBC program has Boston, MA 02203 and provide materials in different taken a lead in preparing women John Joyce, Regional Export Finance Mgr. 617-565-4305 • 617-565-4313 Fax languages in order to meet the diverse business owners to apply for the [email protected] needs of the communities they serve. Women­Owned Small Business WBCs often deliver their services (WOSB) Federal Contract program through long­term training or group 6=(6'("6=35$V&#'+3%65(+6$%,'31*+&5#'63' WOMEN’S BUSINESS CENTERS counseling, both of which have shown to set aside certain federal contracts for The SBA’s Women Business Center be effective. WBC training courses are eligible women­owned small businesses (WBC) program is a network of over 100 often free or are offered for a small fee. or economically disadvantaged women­ community­based centers that provide Some centers will also offer scholarships owned small businesses. For more business training, counseling, coaching, based on the client’s needs. information on the program, visit mentoring and other assistance geared A number of WBCs also provide www.sba.gov/wosb. toward women, particularly those courses and counseling via the Internet, ' :3'*%)'6=&'%&(5'HOR'TOI7'Q$#$6' who are socially and economically and in mobile classrooms and satellite www.sba.gov/women. disadvantaged. WBCs are located in .3+(6$3%#/'0%'*#+(.'2&(5'FAUG7'6=&'TOI' nearly every state and U.S. territory program counseled and trained over including the District of Columbia

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 21 Center for Women & Enterprise Congratulations to the E200 Class of 2015. Boston 24 School St., 7th Fl. Metamagnetics - designs and deploys Boston, MA 02108 leading-edge commercial and defense 617-536-0700 • 617-536-7373 Fax products by coupling advanced materials [email protected] science and innovative design techniques.

Central Massachusetts Pit Stop Barbecue - is a Zagat-rated 69 Milk St., Ste. 217 southern style restaurant that serves beef Westborough, MA 01581 and pork ribs, smoked chicken and assorted 508-363-2300 • 508-363-2323 Fax southern-style food items. [email protected] Inspiration Zone LLC - provides CWE provides education, technical consulting services in four key areas; brand assistance, networking, access to capital, management, business strategy, consumer and access to markets through multi-week engagement and education. COUNSELING courses, workshops, and women’s business certification. Chicken & Rice Guys - is a premier food truck business in Boston that, in two SBA’S LEARNING CENTER Resources for Women short years, has doubled its revenue, and SBA’s Learning Center is a virtual SBA’s online women’s business center: expanded to three trucks and catering campus complete with free online www.onlinewbc.gov services. courses, workshops, podcasts and NSI, Inc. - provides a host of scientific, learning tools. SBA EMERGING LEADERS analytic, modeling and programmatic Key Features of the SBA’s Learning The intense seven­month services and technologies to the defense and Center: &%65&-5&%&"5#=$-'65($%$%,'135'$)&%6$*&)' intelligence communities. • Training is available anytime and anywhere — all you need is a SBA Emerging Leaders creates a STC Biologics, Inc. - develops biologic computer (or mobile device) with learning environment to accelerate drugs from design to proof-of-concept Internet access. the growth of high­potential small studies in humans, then partner those drugs • Nearly 50 free online and businesses, stimulates job creation with companies with commercialization interactive courses and workshops and helps drive economic development capabilities in different markets. are available. within their communities. A competitive • Checklists and worksheets to get selection process results in company Initiatives Inc. - assists governments and your business planning underway. executives participating in high­ NGOs in more than 30 countries in Africa, • Course topics include how to level training and peer­networking Asia, the Middle East and Latin America to strengthen their health services. >5$6&'('!"#$%&##'-.(%7'*%(%+$%,' sessions led by professional instructors. options that include SBA lending Graduates are poised to create an Pirtek Avon - provides the fastest mobile programs, mastering overseas economic ripple effect because they hose repair service in Boston to you directly markets through exporting, public are now equipped with the support, on site, with multiple vans covering the sector procurement tactics, and resources and enhanced business skills Greater Boston/Providence area. specialty material for veterans, necessary to succeed. young entrepreneurs, and women Impact of Emerging Leaders: Brewer’s Ledge - designs and constructs business owners. The initiative is currently offered in unique climbing structures for schools, • Over 10 new courses launched training facilities, rehabilitation centers and in the last year; including a new 48 underserved communities across the playgrounds. country. Spanish­language version of a To date 3,000 businesses have course for Young Entrepreneurs. Offshoots, Inc. – is a woman-owned This robust portal also includes participated and nearly 2,700 Emerging hybrid practice offering both landscape video content, templates, and Leaders have graduated since its architecture and planning and productive articles. inception. A study of Emerging Leaders landscape installation services. Visit www.sba.gov/learning for these past participants reported that: free resources. • Nearly 70% obtained revenue Rethinking Power Management - is a team of engineers and building specialists skilled growth in uncovering efficiency opportunities and • Over 80% created new jobs or developing simple, cost-effective solutions. SBA’S CLUSTER INITIATIVE retained all Every small business must • Participants secured federal, state, Stone Projects – designs, fabricates, and effectively connect into the key local and tribal contracts awards installs premium-quality stone surfaces. relationships necessary to drive over $1 Billion success in its particular industry or ;'' WGX'>&5&'#(6$#*&)'>$6='6=&' Stellar Technology Consulting – provides Emerging Leaders program cloud services, data protection, social media market sector. Regional Innovation Visit www.sba.gov/emergingleaders for management, and remote IT assistance. Clusters act as a networking hub more information. to connect small businesses in The Realty Concierge - is a relocation firm a particular industry sector and that has assisted employees of Boston’s geographic region with other business largest firms with their real estate needs for innovators in the same sector and over twenty years. with specialized suppliers, research

22 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma and industry buyers in that particular sector. And then, through showcasing, FINANCIAL LITERACY networking and “demonstration If you want to start a business or events,” they help get these small learn how to better manage your businesses and their products in business money, consider Money front of investment and other funding Smart for Small Business. SBA sources, research institutions and and FDIC jointly provide their free instructor­led business training customers/buyers in order to bring COUNSELING products to market. curriculum. The curriculum is Across the country, our resource designed to provide introductory partners work with our Regional training for new and aspiring Innovation Clusters: The resource entrepreneurs. The 13 modules partners provide the businesses with provide the most essential information information and coaching on the key on running a small business from a building blocks of business success, *%(%+$(.'#6(%)-3$%6/'0%'())$6$3%'63' while the Cluster experts help them grounding participants in the basics, with the highly technical product the curriculum serves as a foundation institutions, large prime customers development and relationship­building for more advanced training and or contractors and investors who assistance necessary to get and keep 6&+=%$+(.'(##$#6(%+&/'Y3"'+(%'*%)'6=$#' also operate in that sector. In customers and investors in their curriculum by visiting addition, market success requires particular market sector (such as www.sba.gov/moneysmart. small businesses to know their smart­grid, fuel cell energy storage, To learn more about the Financial customers and distribute their product solar cells, imaging, aerospace, and Literacy and Education Commission, )&Q&.3-8&%6')3..(5#'&1*+$&%6.2/' agricultural processing technologies visit www.mymoney.gov. Therefore, through intensive, and networks). $%)"#652B#-&+$*+'6&+=%$+(.'(##$#6(%+&7' For more information on SBA’s our Clusters help small business Cluster Initiative, go to innovators commercialize promising www.sba.gov/clusters. technologies needed by government

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 23 REACHING UNDERSERVED COMMUNITIES

The SBA also offers a number of to helping LGBT­owned small programs, often including courses -53,5(8#'#-&+$*+(..2')&#$,%&)'63'8&&6' businesses launch, innovate, hire in different languages. They provide the needs of underserved communities. and grow. Across the country, our 65($%$%,'$%'*%(%+&7'8(%(,&8&%67'(%)' resource partners are providing LGBT marketing, as well as access to all of entrepreneurs with game­changing 6=&'HOR4#'*%(%+$(.'(%)'-53+"5&8&%6' ENCORE ENTREPRENEURS business advice. For more information assistance programs. With their range of life experiences on LGBT business development, go to In addition to the women’s business and their tendency to have more www.sba.gov/LGBT or e­mail: +&%6&5#7'6=&'J1*+&'31'T38&%4#'O"#$%&##' disposable income, entrepreneurs age [email protected]. J>%&5#=$-'>359#'>$6='36=&5'31*+&#' 50 and older are one of the fastest within SBA to monitor how women are growing groups of business owners. utilizing SBA programs such as our To help meet the needs of “encore NATIVE AMERICAN BUSINESS loan programs, investment programs entrepreneurs,” SBA and AARP have DEVELOPMENT and contracting opportunities. OWBO joined forces to mentor, counsel, ' :=&'HOR'J1*+&'31'Z(6$Q&'R8&5$+(%' also establishes partnerships with many women’s business organizations to help and educate Americans age 50 and Affairs (ONAA) ensures that American over on how to start or grow a small ensure that more women have access Indians, Alaska Natives and Native to the services provided by SBA and its business. Through this partnership, Hawaiians seeking to create, develop COUNSELING SBA and AARP collaborate to connect partners. and expand small businesses have full Through a strategic alliance the 50+ population to small business access to the business development and development resources, including online with Thunderbird School of Global expansion tools available through the Management, SBA is pleased to provide courses, webinars, live workshops, Agency’s entrepreneurial development, conferences, and mentoring activities. access to the DreamBuilder online lending, and contracting programs. training curriculum in both English and For additional information, visit ' :=&'31*+&'-53Q$)&#'('%&6>359'31' www.sba.gov/encore. Spanish. This curriculum is currently training initiatives that include a being used by over 30 women’s Native Entrepreneurial Empowerment business centers. It is available at no FAITH­BASED AND Workshop, a Native American 8(a) cost to entrepreneurs at https://www. Business Development Workshop, a dreambuilder.org/sba COMMUNITY INITIATIVES Money Smart Workshop, an Incubator ' [35'6=&'#&+3%)'2&(57'6=&'J1*+&'31' SBA’s Center for Faith­Based and Workshop and the online tool, “Small Women’s Business Ownership has Community Initiatives works to engage Business Primer: Strategies for held the InnovateHer competition. and build strong partnerships with Growth.” ONAA also is responsible for The InnovateHER Challenge provides +388"%$62'(%)'%3%-53*6'35,(%$V(6$3%#7' consulting with tribal governments an opportunity for entrepreneurs to both secular and faith­based, to support -5$35'63'*%(.$V$%,'HOR'-3.$+$&#'6=(6'8(2' showcase products and services that: entrepreneurship, economic growth and have tribal implications. Visit have a measurable impact on the promote prosperity for all Americans. www.sba.gov/naa for more information. lives of women and families, have the The Center works in coordination potential for commercialization, and >$6='36=&5'31*+&#'>$6=$%'6=&'R,&%+2' *..'('%&&)'$%'6=&'8(59&6-.(+&/''HOR4#' to formulate policies and practices WOMEN BUSINESS OWNERS InnovateHER: Innovating for Women that extend the reach and impact of Women entrepreneurs are changing Business Summit on March 17, 2016 in SBA programs into local communities. the face of America’s economy. In the Washington, D.C. will bring together SBA recognizes the important role 1970s, women owned less than creative ideas to support women’s community leaders and networks have 5 percent of the nation’s businesses. efforts to push the limits, break the in economic development at the local Today, they are majority owners glass ceiling and create long­term, and national level. Further, the Center of about a third of the nation’s small positive changes in gender equality. plays a key role in helping identify, businesses and are at least equal engage and impact underserved owners of about half of all small communities. For additional businesses. SBA serves women YOUNG ENTREPRENEURS information, visit entrepreneurs nationwide through its The SBA recognizes the importance www.sba.gov/faith-based. various programs and services, some of fostering young entrepreneurs and of which are designed especially for small business owners and their role in women. the economy. The SBA offers different LGBT BUSINESS OUTREACH ' :=&'HOR4#'J1*+&'31'T38&%4#' activities and resources throughout INITIATIVE Business Ownership (OWBO) serves the year aimed at aspiring young as an advocate for women­owned The SBA’s groundbreaking outreach entrepreneurs, including social media !"#$%&##&#/':=&'31*+&'3Q&5#&&#'(' outreach and customized online courses. to the Lesbian, Gay, Bisexual and nationwide network over 100 Women’s Transgendered (LGBT) community For additional information, visit Business Centers that provide business www.sba.gov/young. $#'135'6=&'*5#6'6$8&'!5$%,$%,'HOR' training, counseling and mentoring resources directly to LGBT business ,&(5&)'#-&+$*+(..2'63'>38&%7'&#-&+$(..2' SBA also administers two contracting owners. Recognizing the unique those who are socially and economically and business development programs challenges faced by the nation’s 1.4 disadvantaged. The program is a public­ 6=(6'(5&'#-&+$*+(..2')&#$,%&)'63'!&%&*6' million LGBT­owned businesses, private partnership with locally­based underserved communities. For more the SBA has partnered with %3%-53*6#/' information on the 8(a) Business several national business advocacy Women’s Business Centers serve Development Program and the organizations, including the National a wide variety of geographic areas, HUBZone Program, see the Contracting Gay and Lesbian Chamber of population densities, and economic section. Commerce, to increase the use of SBA environments, including urban, programs by LGBT owned businesses. suburban, and rural. Each Women’s The SBA is the nation’s leading Business Center tailors its services to advocate and champion for all the needs of its individual community, entrepreneurs and is deeply committed but all offer a variety of innovative

24 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma SERVING THOSE WHO SERVED OUR COUNTRY

training in the tools and skills of new Q&%6"5&'+5&(6$3%'(%)',53>6=7'5&?&+6$%,' issues unique to disability and public !&%&*6#'-53,5(8#/']5()"(6&#'31' EVB leave with a support structure that helps them stay connected with 5"5+&#'(%)'%&6>359#'!&%&*+$(.'63' their new endeavor. EVB is available to post­9/11 veterans and active duty COUNSELING service members with service­connected disabilities. VETERANS BUSINESS OUTREACH CENTERS (VBOCS) Each year SBA serves over 200,000 • Boots to Business: An The SBA Resource Partner Network veterans, service disabled veterans entrepreneurial education program &S6&%)#'$6#'5&(+='#-&+$*+(..2'63' and military spouses across the United offered as an elective track within our veteran community through States and at military installations the Department of Defense’s the Veterans Business Outreach around the globe. SBA provides training Transition Assistance Program Center (VBOC) Program. Through a and mentorship, access to capital, (TAP), this course is open to service cooperative agreement with 15 veteran­ preparation for opportunities in federal members (including members of serving organizations across the procurement, cultivating connections the National Guard and Reserves) country, SBA provides entrepreneurial within commercial supply chains and and their spouses. This course is development services such as business disaster relief assistance. available on over 180 installations training, counseling and mentoring, ' HOR4#'J1*+&'31'\&6&5(%#'O"#$%&##' around the world. and referrals for eligible veterans Development (OVBD) offers a • Boots to Business Reboot: An owning or considering starting a small number of programs and services to entrepreneurial education program business. Services provided by VBOCs support aspiring and existing veteran offered in local communities around include: pre­business plan workshops, entrepreneurs and military spouses of the nation, this course is open concept assessments, business plan all eras, women veterans, and service to veterans of all eras (including disabled veterans. These programs, preparations, comprehensive feasibility members of the National Guard and analysis, entrepreneurial training, Boots to Business, Boots to Business: Reserves) and their spouses. Reboot, Veteran Women Igniting the one­on­one counseling, and other Spirit of Entrepreneurship (VWISE), business­development related services. and Entrepreneurship Bootcamp for VETERAN WOMEN VBOCs also provide assistance and Veterans with Disabilities (EBV), offer IGNITING THE SPIRIT OF training in such areas as international cutting edge, experiential training in trade, franchising, Internet marketing, entrepreneurship and small business ENTREPRENEURSHIP (V­WISE) accounting, etc. management. These programs were Veteran Women Igniting the Spirit developed to introduce transitioning of Entrepreneurship (VWISE) is an Massachusetts Veterans Business service members, veterans, and military Development Specialist entrepreneurial training program for Oreste Varela spouses, to entrepreneurship, exploring female veterans of all service eras 413-785-0484 self­employment opportunities, and and branches with a passion for and [email protected] turning an idea into a growth venture. interest in either starting a new small www.sba.gov/vets In addition, these programs also business or growing an existing one. help to connect participants to SBA’s VWISE enables female veterans to local network of resource partners *%)'6=&$5'-(##$3%'(%)'.&(5%'!"#$%&##B CONTINUITY OF OPERATIONS and establish a support structure for savvy skills in order to turn their ideas DURING DEPLOYMENT graduates. or businesses into growth ventures SBA also connects veterans and For more information on any of SBA’s while recognizing entrepreneurship military spouses to lenders that offer program for veterans, please visit as an important part of strengthening www.sba.gov/veterans. loan programs providing fee relief for economic growth nationwide. eligible veterans and military spouses and offers special low­interest­rate BOOTS TO BUSINESS AND ENTREPRENEURSHIP *%(%+$%,'63'#8(..'!"#$%&##&#'>=&%'(%' BOOTS TO BUSINESS: REBOOT BOOTCAMP FOR VETERANS owner or essential employee is called to Boots to Business and Boots active duty. SBA’s Veterans Advantage to Business: Reboot both provide WITH DISABILITIES program provides fee relief for eligible participants with an overview of Entrepreneurship Bootcamp for veterans and military spouses and business ownership as a career vocation, Veterans with Disabilities (EBV) survivors. The Military Reservist an orientation to the components of offers experiential training in Economic Injury Disaster Loan Program a business plan, a practical exercise entrepreneurship and small business (MREIDL) provides loans up to $2 in opportunity recognition, and an management. Training includes a million to eligible small businesses to introduction to available public and 30­day online course, a nine­day cover operating costs that cannot be met private sector resources. However, the residency at an EBV University and due to the loss of an essential employee two programs are targeted to veterans, 12­months support from faculty experts. called to active duty in the Reserves or service members and their spouses at The curriculum focuses on practical National Guard. different life stages:

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 25 ARE YOU RIGHT FOR SMALL BUSINESS OWNERSHIP?

Most new business owners who from having to carry all the HOME­BASED BUSINESSES succeed have planned for every phase responsibility for the success of their success. Thomas Edison, the of their business on their own Going to work used to mean great American inventor, once said, shoulders. Strong motivation traveling from home to a plant, store “Genius is 1 percent inspiration and will help you survive slowdowns 35'31*+&/':3)(27'8(%2'-&3-.&')3'#38&' 99 percent perspiration.” That same and periods of burnout. or all their work at home. philosophy also applies to starting a • How will the business affect business. your family?':=&'*5#6'1&>'2&(5#' Getting Started First, you’ll need to generate a little of business start­up can be hard ' O&135&')$Q$%,'=&()*5#6'$%63'('=38&B bit of perspiration deciding whether on family life. It’s important for based business, you must know why you’re the right type of person to start family members to know what you are doing it. To succeed, your your own business. to expect and for you to be able business must be based on something to trust that they will support greater than a desire to be your you during this time. There also own boss. You must plan and make IS ENTREPRENEURSHIP 8(2'!&'*%(%+$(.')$1*+".6$&#'"%6$.' improvements and adjustments along 6=&'!"#$%&##'!&+38&#'-53*6(!.&7' the road. COUNSELING FOR YOU? which could take months or Working under the same roof where There is simply no way to eliminate years. You may have to adjust to your family lives may not prove to be all the risks associated with starting a lower standard of living or put a small business, but you can improve family assets at risk. as easy as it seems. One suggestion is your chances of success with good Once you’ve answered these 63'#&6'"-'('#&-(5(6&'31*+&'$%'23"5'=38&' planning, preparation and insight. questions, you should consider what to create a professional environment. Start by evaluating your strengths and type of business you want to start. Ask yourself these questions: weaknesses as a potential owner and Businesses can include franchises, • Can I switch from home manager of a small business. Carefully at­home businesses, online businesses, responsibilities to business work consider each of the following brick­and­mortar stores or any easily? questions: combination of those. • Do I have the self­discipline to • Are you a self-starter? It will maintain schedules while at home? be entirely up to you to develop • Can I deal with the isolation of projects, organize your time, and FRANCHISING working from home? follow through on details. There are more than 3,000 business • How well do you get along with franchises. The challenge is to decide Legal Requirements different personalities? Business on one that both interests you and is A home­based business is subject to owners need to develop working a good investment. Many franchising many of the same laws and regulations relationships with a variety experts suggest that you comparison affecting other businesses. of people including customers, shop by looking at multiple franchise Some general areas include: vendors, staff, bankers, opportunities before deciding on the • Zoning regulations. If your employees and professionals one that’s right for you. business operates in violation of such as lawyers, accountants, or Some of the things you should 6=&87'23"'+3".)'!&'*%&)'35'#="6' consultants. Can you deal with a look at when evaluating a franchise: down. demanding client, an unreliable =$#635$+(.'-53*6(!$.$627'&11&+6$Q&' • Product restrictions. Certain vendor, or a cranky receptionist *%(%+$(.'8(%(,&8&%6'(%)'36=&5' products cannot be produced in if your business interests demand controls, a good image, integrity the home. Most states outlaw it? and commitment, and a successful =38&'-53)"+6$3%'31'*5&>359#7' • How good are you at making industry. drugs, poisons, explosives, decisions? Small business sanitary or medical products and owners are required to make In the simplest form of franchising, while you own the business, its toys. Some states also prohibit decisions constantly – often home­based businesses from quickly, independently, and operation is governed by the terms of the franchise agreement. For making food, drink or clothing. under pressure. Be sure to consult an attorney and • Do you have the physical and 8(%27'6=$#'$#'6=&'+=$&1'!&%&*6'135' franchising. You are able to capitalize your local and state departments of emotional stamina to run a .(!35'(%)'=&(.6='63'*%)'3"6'>=$+=' Business ownership on a business format, trade name, business? laws and regulations will affect can be exciting, but it’s also a trademark and/or support system lot of work. Can you face six or provided by the franchisor. But you your business. Additionally, check seven 12–hour workdays every operate as an independent contractor on registration and accounting week? >$6='6=&'(!$.$62'63'8(9&'('-53*6'35' requirements needed to open your • How well do you plan and sustain a loss commensurate with your home­based business. You may need organize? Research indicates ownership. ('>359'+&56$*+(6&'35'.$+&%#&'1538'6=&' that poor planning is responsible If you are concerned about starting state. Your business name may need for most business failures. Good an independent business venture, then to be registered with the state. A 35,(%$V(6$3%'^'31'*%(%+$(.#7' franchising may be an option for you. separate business telephone and bank inventory, schedules, and Remember that hard work, dedication account are good business practices. production — can help you avoid (%)'#(+5$*+&'(5&'9&2'&.&8&%6#'$%' Also remember, if you have many pitfalls. the success of any business venture, employees you are responsible for • Is your drive strong enough? including a franchise. withholding income and Social­ Running a business can wear Visit www.sba.gov/franchise for more Security taxes, and for complying with you down emotionally. Some information. minimum wage and employee health business owners burn out quickly and safety laws.

26 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma WRITING A BUSINESS PLAN

After you’ve thought about what type of business you want, the next step is to develop a business plan. Think of the business plan as a roadmap with milestones for the business. It begins as a pre­assessment tool to determine COUNSELING -53*6(!$.$62'(%)'8(59&6'#=(5&7'(%)' then expands as an in­business assessment tool to determine success, 3!6($%'*%(%+$%,'(%)')&6&58$%&' repayment ability, among other factors. Creating a comprehensive business plan can be a long process, and you need good advice. The SBA and its resource partners, including Small Business Development Centers, Women’s Business Centers, Veterans Business Outreach Centers, and SCORE, have the expertise to help you craft a winning business plan. The Marketing • Discuss your break­even point. SBA also offers online templates to get • Discuss the products and services • Explain your personal you started. your company will offer. balance sheet and method of compensation. In general, a good business plan • Identify customer demand for your • Discuss who will maintain your contains: products and services. • Identify your market, its size and accounting records and how they Introduction locations. will be kept. • Give a detailed description of the • Explain how your products and • Provide “what if” statements business and its goals. services will be advertised and addressing alternative • Discuss ownership of the marketed. approaches to potential business and its legal structure. • Explain your pricing strategy. problems. • List the skills and experience you bring to the business. Financial Management Operations • Discuss the advantages you • Develop an expected return on • Explain how the business will be and your business have over investment and monthly cash managed day­to­day. competitors. ?3>'135'6=&'*5#6'2&(5/ • Discuss hiring and personnel • Provide projected income procedures. statements and balance sheets • Discuss insurance, lease or rent for a two­year period. agreements. • Account for the equipment necessary to produce your goods or services. • Account for production and delivery of products and services. Concluding Statement Summarize your business goals and objectives and express your commitment to the success of your business. Once you have completed your business plan, review it with a friend or business associate and professional business counselor like SCORE, WBC or SBDC 5&-5&#&%6(6$Q'HOR')$#65$+6'31*+&' economic development specialists or veterans’ business development specialists. Remember, the business plan is a ?&S$!.&')3+"8&%6'6=(6'#=3".)'+=(%,&' as your business grows.

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 27 CAPITAL Financing Options to Start or Grow Your Business

(collateral), a history of the business and explanation of how the business generates income, and most important, an explanation of how the business will be able to repay the loan in a timely manner. The lender will analyze the application to see if it meets their criteria and make a determination if they will need an SBA guaranty in order to provide the loan. SBA will look to the lender to do much, if not all, of the analysis before it provides its guaranty to the lender’s proposed loan. The SBA’s business loan guaranty programs provide a key source of *%(%+$%,'135'Q$(!.&'#8(..'!"#$%&##&#' CAPITAL that have real potential but cannot qualify for credit on reasonable terms by themselves. any entrepreneurs need the applicant small business, the lender If no lenders respond to your inquiry *%(%+$(.'5"5+&#'63'#6(56' and the SBA. (The Agency does not through LINC or if you are unable to or expand a small business actually provide the loan, but rather they #&+"5&'*%(%+$%,'1538'6=&'.&%)&5#'6=(6' and must combine what guaranty a portion of the loan provided you have contacted, please contact your they have with other by a lender (except for microloans)). The .3+(.'HOR'P$#65$+6'J1*+&'135'())$6$3%(.' M#3"5+&#'31'*%(%+$%,/':=&#&'#3"5+&#'+(%' lender can be a regulated bank or credit resources. include family and friends, venture­ union, or a community based lending +(-$6(.'*%(%+$%,'(%)'!"#$%&##'.3(%#/''' organization. This section of the Small Business For help locating a lender in your 7(a) LOAN PROGRAM Resource guide discusses SBA’s primary area, SBA has an online tool called The 7(a) Loan program is the SBA’s !"#$%&##'.3(%'(%)'&N"$62'*%(%+$%,' LINC that matches small businesses primary business loan program. It programs. These are: the 7(a) Loan with participating SBA lenders. LINC is the agency’s most frequently used _53,5(87'6=&'I&56$*&)'P&Q&.3-8&%6' begins with a simple online form that %3%B)$#(#6&5'*%(%+$(.'(##$#6(%+&' Company or 504 Loan Program, the requests basic information about -53,5(8'!&+("#&'31'$6#'?&S$!$.$62'$%'.3(%' Microloan Program and the Small 23"5'!"#$%&##'(%)'*%(%+$%,'%&&)#/' structure, variety of uses for the loan Business Investment Company That information is transmitted to all proceeds and availability. The program Program. The distinguishing features participating SBA lenders operating has broad eligibility requirements and for these programs are the total dollar within your county. If a lender is credit criteria to accommodate a wide amounts that can be borrowed, the type interested, you will receive an email 5(%,&'31'*%(%+$%,'%&&)#/ of lenders who can provide these loans, with the contact information for that Congress authorized SBA to provide the uses for the loan proceeds and the lender. LINC can be accessed through *%(%+$(.'(##$#6(%+&'&$6=&5')$5&+6.2' terms placed on the borrower. The SBA SBA’s website at or in cooperation with banks or does not provide grants to individual https://www.sba.gov/tools/linc. 36=&5'*%(%+$(.'$%#6$6"6$3%#'6=53",=' business owners to start or grow a Submitting an inquiry through LINC agreements to participate in section 7(a) of the Small Business Act. Historically, business. does not constitute a loan application a 7(a) loan was provided either but is instead a valuable tool to identify directly from SBA or from regulated SBA lenders within your community. SBA BUSINESS LOANS lenders who provided the loan after J%+&'23"'=(Q&'$)&%6$*&)'6=3#&'.&%)&5#7' If you are contemplating a business they obtained a guaranty from SBA. you will apply directly to the lenders loan, familiarize yourself with the SBA’s Since 1996, all 7(a) loans have only by providing them the documents business loan programs to see if there been provided on a guaranteed basis, they require. Generally an application may be a viable option. The SBA has meaning from a lender participating in includes a business plan that explains a variety of loan programs which are the 7(a) Loan Guaranty Program. what resources will be needed to distinguished by their different uses of The business loans that SBA accomplish the desired business the loan proceeds, their dollar amounts, guarantees do not come from the purpose including the associated costs, and the requirements placed on the Agency, but rather from banks and the applicants’ contribution, planned actual lenders. The three principal other approved lenders. The loans are uses for the loan proceeds, a listing players in most of these programs are funded by these organizations and they of the assets that will secure the loan

28 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma make the decision to approve or deny under certain conditions. Proceeds ?&S$!.&'62-&#'31'HOR'.3(%#'!&+("#&'6=&2' the applicant’s loan request. from a Basic 7(a) cannot be used +(%'=&.-'*%(%+&'#"+='('.(5,&'Q(5$&62' The guaranty that SBA provides to buy investments that are held of business purposes for the largest the lender reduces the lender’s risk for their potential appreciation, or number of business types, engaged in of borrower non­payment because the to be provided to an associate the widest spectrum of activities. guaranty assures the lender that if of the business except under very In the Federal Government’s 2013 the borrower defaults, the lender can limited circumstances. Fiscal Year (October 1, 2012 to request that SBA pay the debt rather 8. Be able to demonstrate that it September 30, 2013) about 80 percent than the borrower. SBA only guarantees can’t get the proceeds from its own of the dollars and 38 percent of the a portion or percentage of every loan, resources or those of its principal number of all 7(a) loans were Basic 7(a) so in the event of default the lender owners and the lender must certify Loans. The reciprocal percentages were will only get partially repaid by SBA. that they would only approve divided between the nine other 7(a) the loan if it is able to obtain a Programs. However the borrower is still obligated guaranty from SBA. The Basic 7(a) Loan is a term loan for the full loan amount. 9. Have ownership that is of Good usually repaid with one monthly To qualify for an SBA guaranteed Character payment of principal and interest. loan, a small business must meet 10. Be able to satisfy any Interest only repayment periods are the lender’s criteria and the 7(a) Miscellaneous Eligibility permitted when needed, such as for a program requirements. One of those Requirements that may be start­up business that doesn’t achieve requirements is that the lender must imposed on a loan request based breakeven in its initial months of CAPITAL certify that it would not provide this on the circumstances of the case operation. Other repayment structures loan under the proposed terms and including, but not limited to the are also permitted depending upon the conditions without an SBA guaranty. purpose of the loan. !3553>&54#'%&&)#'(%)'6=&'?&S$!$.$62'31' If the SBA is going to provide a lender the lender. with a guaranty, the applicant must be A Basic 7(a) Loan does not revolve eligible and creditworthy and the loan THE BASIC 7(a) LOAN so the sum of the disbursements is structured under conditions acceptable The Basic 7(a) Loan is the most the loan amount. SBA can guaranty to the SBA. commonly provided type of SBA revolving lines of credit, but that is The 7(a) Program includes ten (10) business loan based on historical dollars accomplished through some of the nine types of loans which all share certain approved. They are the most variations to the Basic 7(a) Loan. eligibility requirements but which also have some different requirements #3'6=&2'+(%'(++3883)(6&'#-&+$*+' business needs and/or give lenders ,5&(6&5'?&S$!$.$62'>$6='.3(%'#65"+6"5&/'' The most popular 7(a) loan type is the Basic 7(a) Loan, which can be used for the most diverse purposes. The other nine 7(a) loan types are variations of the Basic 7(a) Loan with different uses for the loan proceeds and alternative structures. The applicant business must: 1. Be an operating business (except for loans to Eligible Passive Companies); F/'' O&'35,(%$V&)'135'-53*6` 3. Be located in the United States; 4. Be able to demonstrate a need for the desired credit. 5. Be a business, along with its ' R1*.$(6'6=(6'8&&6#'HOR4#'H$V&'' Standard Requirements. 6. Be a business that is not engaged in a prohibited business activity or ' 3>%&)'!2'('%3%BN"(.$*&)'3>%&57'35'' located at a prohibited place. 7. Only use the Loan Proceeds for only acceptable purposes, which includes proceeds to start­up a new business, buy an existing business, acquire machinery & equipment ' (%)a35'1"5%$6"5&'b'*S6"5 acquire or renovate a building which the business will occupy, permanent working capital, and ' 5&*%(%+$%,'&S$#6$%,'!"#$%&##')&!6''

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 29 What to Take to the Lender Documentation requirements will themselves or if they will need an SBA for guaranty from the lender. vary depending upon the purpose of guaranty. If a guaranty is needed, the By guaranteeing a loan, the SBA the loan. Contact your lender for the lender will also review the application assures the lender that, in the event information you must supply. for SBA eligibility. The applicant the borrower does not repay the loan, Common requirements include the should be prepared to complete some the government will reimburse the following: additional documents if the lender lending institution for a percentage of A Business Plan that includes: says they need an SBA guaranty for the amount owed. By providing this • Purpose of the loan approval. Applicants who feel they guaranty, the SBA is able to help tens • History of the business need more help with the process of thousands of small businesses every • Projections of income, expenses should contact their local SBA district 2&(5',&6'*%(%+$%,'6=&2'8$,=6'%36' (%)'+(#='?3>'(#'>&..'(#'(%' 31*+&'35'3%&'31'6=&'HOR4#'5"5+&' otherwise obtain. explanation of the assumptions partners for assistance. When SBA approves a guaranty they used to develop these projections There are several ways a lender notify the lender who will work with ;'' _&5#3%(.'*%(%+$(.'#6(6&8&%6#'3%' can request a 7(a) Guaranty for a the applicant to make sure the terms the principal owners proposed business loan from SBA. (%)'+3%)$6$3%#')&#$,%&)'135'6=&'#-&+$*+' • Resume(s) of the principal owners The main differences between these loan are met before closing. The and managers. processing methods are based on lender also disburses the funds and the experience the lender has in assumes responsibility for collecting • Amount of investment in the requesting guarantees from SBA, the the payments and general servicing. business by the owner(s) documentation the lender provides to The borrower makes loan payments • Projected opening­day balance SBA, the amount of review the SBA directly to the lender. As with any sheet (new businesses) conducts after receiving the request, loan, the borrower is obligated to • Lease details CAPITAL the amount of the loan and the lender repay the full amount of the loan in a • Proposed Collateral responsibilities in case the loan timely manner. Three Years of Financial Statements defaults and the business’ assets must that include: be liquidated. The current different What the SBA Looks for: • Balance Sheet and Income processing methods are: • Ability to repay the loan on time Statement (P&L) for three years • Standard 7(a) Guaranty from the projected operating cash (existing businesses) (Tax Returns ;'I&56$*&)'d&%)&5'_53,5(8' ?3>` "#"(..2'#"1*+&c • Preferred Lender Program • Owners and operators who are of • Interim Financial Statements • SBA Express good character; dated within 180 days of the • Export Express • Feasible business plan; request for assistance • Community Advantage • Management expertise and • Schedule of term debts (existing When a lender requests a 7(a) commitment necessary for businesses) guaranty for a business loan they success; • Aging of accounts receivable and propose to provide a small business ;'' H"1*+$&%6'1"%)#7'$%+.")$%,' payable (existing businesses), plus their application consist of two parts. (but not limited to) the SBA :=&'(--.$+(%6'*..#'3"6'HOR'[358'UWUW' • Interim Financial Statements guaranteed loan, to operate the while the lender completes SBA Form dated within 180 days of the !"#$%&##'3%'('#3"%)'*%(%+$(.' request for assistance 1920. The Form 1919 is designed for the applicant to explain what they basis (for new businesses, this includes the resources to meet How the 7(a) Program Works intend to do with the money and how they will repay the loan. The Form start­up expenses and the initial Small Business applicant assembles operating phase); 6=&$5'5&N"'135'*%(%+$%,'!(#&)'3%' 1920 requires the lender to explain their analysis of the eligibility and • Adequate equity invested in the the intended purpose of the proposed business; and loan and what documents the lender credit merits of the request. When the request loan amount is • Enough collateral to fully secure requires. A loan to help a moving the loan or, all worthwhile company acquire a new truck will be smaller (generally under $350,000) the available business collateral plus less involved than a loan to acquire or lender is allowed to provide SBA with personal real estate if the loan start­up a business. The paperwork less information in their application can be completed on either a business for guaranty but that does not mean cannot be fully secured. loan application provided by the lender the applicant business can provide or an SBA application, but using the the lender with less information. The Impact of a Credit Score SBA forms does not actually increase The lender has the ability to ask the SBA also credit scores every the chance an applicant has in getting applicant for as much detail as they business that is a potential recipient of a business loan. The applicant then believe is necessary for them to make a loan guaranteed by SBA. If the loan submits their loan application to a 6=&$5')&+$#$3%'3%'6=&'#-&+$*+'5&N"/'' is for $350,000 or less, the credit score lender for the initial review. If the When the SBA receives a request 3!6($%&)'>$..'=(Q&'('#$,%$*+(%6'$8-(+6' (--.$+(%6'$#'(--.2$%,'135'6=&$5'*5#6' for guaranty from a lender they will on the amount of work the lender has business loan, it is recommended that either re­analyze, review or trust the to complete when applying for an SBA the selected lender be the one who lender’s eligibility and credit analysis guaranty. As such, it is important for maintains the personal account of the before deciding to approve or reject the any owner of a business to be aware owner(s). request. See the section on 7(a) Loan of their credit score and correct any The lender will generally review Processing from Lenders later on in discrepancies prior to approaching the credit merits of the request before this article for more detail on what their lender. deciding if they will make the loan SBA does when it receives a request

30 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma The following aspects of the Basic 7(a) Guaranty and Other Fees ** For all SBA-guaranteed loans of Loan are also applicable to all other 7(a) Loans guaranteed by the SBA are $150,000 or less that are approved d3(%'"%.&##'#-&+$*+(..2'5&1&5&%+&)'(#' assessed a guaranty fee. This fee is between October 1, 2015 and September %36'(--.2$%,'63'('#-&+$*+'H-&+$(.'ef(c' based on the loan’s maturity and the 30, 2016, the guaranty fee will be 0%. Loan. dollar amount guaranteed, not the total !"#"$%&'()&*"%")+#,&+#-.()& dollar amount of the loan. The guaranty /0(1,",2&&&Any guaranteed loans Percentage of Guarantees and Loan fee is initially paid by the lender and approved to businesses owned by Maximums then passed on to the borrower at Veterans of any era or their Spouses SBA only guarantees a portion closing. The funds the business needs to )"5$%,'*#+(.'2&(5'FAUC'fJ+63!&5'U7' of any particular 7(a) loan so each reimburse the lender can be included in 2015 through September 30, 2016) will loan will have an SBA share and an the overall loan proceeds. 5&+&$Q&'6=&'!&%&*6'31'=(Q$%,'$6#'5&,".(5' unguaranteed portion which gives the On any loan with a maturity of one guaranty fee reduced by 50%, when the lender a certain amount of exposure year or less, the fee is just 0.25 percent loan is over $150,000. and risk on each loan. The percentage of the guaranteed portion of the loan. If the loan being provided a business of guaranty depends on either the dollar On loans with maturities of more than owner by qualifying veterans is for amount or the program the lender one year, the normal guaranty fee is: $150,000 or less and the lender chooses uses to obtain its guaranty. For loans • 2.0 percent of the SBA guaranteed to apply for its guaranty of that loan by of $150,000 or less the SBA generally portion on loans up to $150,000; ** using Express processing procedures

guarantees as much as 85 percent • 3.0 percent on loans over $150,000 (described elsewhere in this article) CAPITAL and for loans over $150,000 the SBA but not more than $700,000; and then the guaranty fee will be zero as generally provides a guaranty of up to • 3.5 percent on loans over $700,000. long as the guaranty is approved before 75 percent. There is also an additional fee of September 30, 2016. The maximum dollar amount of a 0.25 percent on any guaranteed The lender may not charge a single 7(a) loan is $5 million and there portion over $1 million. prepayment penalty if the loan is paid is no minimum. The maximum dollar * All references to the prime rate off before maturity but the SBA will amount of the SBA share which can be refer to the base rate in effect on the charge the borrower a prepayment fee provided to any one business (including first business day of the month the loan if the loan has a maturity of 15 or more (1*.$(6&#c'$#'gD7eGA7AAA/' application is received by the SBA. 2&(5#'(%)'$#'-5&B-($)')"5$%,'6=&'*5#6' three years. Interest Rates The actual interest rate for a 7(a) loan guaranteed by the SBA is negotiated between the applicant and lender but is subject to the SBA maximums. O36='*S&)'(%)'Q(5$(!.&'$%6&5'5(6&' structures are available. The maximum rate comprises two parts, a base rate and an allowable spread. There are three acceptable base rates (Wall Street Journal Prime*, London Interbank One Month Prime plus 3 percent, and an SBA Peg Rate). Lenders are allowed to add an additional spread to the base 5(6&'63'(55$Q&'(6'6=&'*%(.'5(6&/'[35' loans with maturities of less than seven years, the maximum spread will be no more than 2.25 percent. For loans with maturities of seven years or more, the maximum spread will be 2.75 percent. The spread on loans under $50,000 and loans processed through Express procedures have higher maximums. Most 7(a) term loans are repaid with monthly payments of principal (%)'$%6&5/'[35'*S&)B5(6&'.3(%#'6=&' payments stay the same because the interest rate is constant. For variable rate loans the lender can change the payment amount when the interest rates change. Applicants can request that the lender establish the loan with interest­only payments during the start­ up and expansion phases (when eligible) to allow the business time to generate income before it starts making full loan payments.

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 31 7(a) Loan Maturities SBA Size Standards have the following • Acquire machinery, equipment, The SBA’s loan programs are general ranges: 1"5%$6"5&7'*S6"5&#'(%)'.&(#&=3.)' generally intended to encourage longer • Manufacturing — from 500 to 1,500 improvements; 6&58'#8(..B!"#$%&##'*%(%+$%,7'!"6' employees • Acquire a business; actual loan maturities are based on • Wholesale Trades — Up to 100 • Start a business; the ability to repay, the purpose of the employees • Acquire Land and Build a Location loan proceeds and the useful life of the • Services — $2 million to $35.5 for the applicant business; and ;''K&*%(%+&'&S$#6$%,')&!6'"%)&5' (##&6#'*%(%+&)/'<(6"5$62',&%&5(..2' million in average annual receipts • Retail Trades — $7 million to $35.5 certain conditions. ranges from 7 to 10 years for working million in average annual receipts SBA 7(a) loan proceeds cannot be capital, business start­ups, and business • Construction — $7 million to $33.5 used: acquisition type loans, and up to 25 million in average annual receipts • For the purpose of making years if the purpose is to acquire real • Agriculture, Forestry, Fishing, investments. (6&'35'*S&)'(##&6#'>$6='('.3%,'6&58' and Hunting — $750,000 to $17.5 • To provide funds to any of the useful life. million in average annual receipts owners of the business except for There is an alternate size standard ordinary compensation for actual Collateral for businesses that do not qualify under services provided. The SBA expects every 7(a) loan their industry size standards for SBA • For Floor Plan Financing 63'!&'#&+"5&)'*5#6'>$6='6=&'(##&6#' funding. That alternative is that the ;'' [35'('-"5-3#&'6=(6')3&#'%36'!&%&*6' acquired with the loan proceeds and (--.$+(%6'!"#$%&##'f-."#'(1*.$(6&#c'+(%46' the business then with additional business and have a tangible net worth exceeding personal assets, depending upon the $15 million and average net income Miscellaneous Factors loan amount and the way the lender exceeding $5 million for the last two The fourth factor involves a variety requests their guaranty. However, SBA years. This new alternate makes more of requirements such as SBA’s credit businesses eligible for SBA loans CAPITAL will not decline a request to guaranty elsewhere test where the personal a loan if the only unfavorable factor and applies to SBA non­disaster loan resources of the owners need to be $#'$%#"1*+$&%6'+3..(6&5(.7'-53Q$)&)'(..' programs, namely its 7(a) Business checked to see if they can make a available collateral is offered. When d3(%#'(%)'I&56$*&)'P&Q&.3-8&%6' contribution before getting a loan the lender says they will need an SBA Company programs. guaranteed by the SBA. It also includes guaranty, the applicant should be the SBA’s anti­discrimination rules and Nature of Business limitations on lending to agricultural prepared for liens to be placed against The second eligibility factor is based all business assets. Personal guaranties enterprises because there are other on the nature of the business and the agencies of the Federal government are required from all the principal process by which it generates income or owners of the business. Liens on with programs to fund such businesses. the customers it serves. The SBA has Generally, SBA loans must meet the personal assets of the principals may general prohibitions against providing following criteria: also be required. SBA does not require *%(%+$(.'(##$#6(%+&'63'!"#$%&##&#' • Every loan must be for a sound any collateral for any 7(a) guaranteed involved in such activities as lending, business purpose; loan for $25,000 or less but the lender speculating, passive investment, ;'':=&5&'8"#6'!&'#"1*+$&%6'$%Q&)' can require collateral if they chose. pyramid sales, loan packaging, equity in the business so it can presenting live performances of a 3-&5(6&'3%'('#3"%)'*%(%+$(.'!(#$#` Loan Structure prurient nature, businesses involved in • There must be a potential for long­ The structure of a Basic 7(a) Loan gambling and any illegal activity. term success; is that repayment has to be set up so The SBA also cannot make loan • The owners must be of good the loan is paid in full by maturity. ,"(5(%6$&#'63'%3%B-53*6'!"#$%&##' character and reputation; and Over the term of the loan there can private clubs that limit membership on • All loans must be so sound as to be additional payments or payment a basis other than capacity, businesses reasonably assure repayment. that promote a religion, businesses relaxation depending on what is For more information, go to owned by individuals incarcerated or happening with the business. Balloon www.sba.gov/apply. on probation or parole, municipalities, payments and call provisions are not and situations where the business or allowed on any 7(a) term loan. its owners previously failed to repay SPECIAL PURPOSE a federal loan or federally assisted Eligibility *%(%+$%,7'35'(5&')&.$%N"&%6'3%'&S$#6$%,' 7(a) LOAN PROGRAMS 7(a) loan eligibility is based on a federal debt. The 7(a) loan program is the most number of different factors, ranging ?&S$!.&'31'6=&'HOR4#'.&%)$%,'-53,5(8#/' from Size and Nature of Business to Use of Proceeds Over time, the Agency has developed Use of Proceeds and factors that are The third eligibility factor is Use of several variations of the Basic 7(a) Loan +(#&'#-&+$*+/' Proceeds. A Basic 7(a) Loan can provide $%'35)&5'63'())5&##'#-&+$*+'*%(%+$%,' proceeds to purchase machinery, needs for particular types of small Size Eligibility &N"$-8&%67'*S6"5'#"--.$'(%)' businesses or to give the lender greater ' :=&'*5#6'&.$,$!$.$62'1(+635'$#'#$V&7'(#' to make improvements to land and/ ?&S$!$.$62'>$6='6=&'.3(%4#'#65"+6"5&/' (..'.3(%'5&+$-$&%6#'8"#6'!&'+.(##$*&)'(#' or buildings that will be occupied The general distinguishing feature by the subject applicant business. “small” by the SBA. The size standards between these loan types is their use Proceeds can also be used to: of proceeds. These programs allow the for all 7(a) loans are outlined below. A • Permanent Working Capital; proceeds to be used in ways that are more in­depth listing of standards can • Purchase Inventory; not otherwise permitted in a basic 7(a) be found at: www.sba.gov/size. • Expand or renovate facilities; loan. These special purpose programs

32 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma are not necessarily for all businesses capital component of an ITL is limited • Maturities of up to 10 years on but may be very useful to some small to $4 million. Any other working capital equipment unless the useful life businesses. They are generally governed SBA loans that the borrower has are exceeds 10 years. by the same rules, regulations, fees, counted against the $4 million guaranty • Maturities of up to 25 years are interest rates, etc., as the basic 7(a) limit. available for real estate. loan. Lenders can advise you of any ;'' d3(%#'>$6='('8$S&)'"#&'31'*S&)B variations. The Special Purpose Loans Use of Proceeds (##&6'(%)'>359$%,B+(-$6(.'*%(%+$%,' include: • For the facilities and equipment will have a blended­average portion of the loan, proceeds may be maturity. International Trade Loan Program used to acquire, construct, renovate, The SBA’s International Trade modernize, improve or expand Exporter Eligibility Loan (ITL) is designed to help facilities or equipment in the • Applicants must meet the same small businesses enter and expand U.S. to produce goods or services eligibility requirements as for the into international markets or, involved in international trade, SBA’s standard 7(a) Loan Program. when adversely affected by import including expansion due to bringing • Applicants must also establish that competition, to make the investments production back from overseas if the loan will allow the business to necessary to better compete. The ITL the borrower exports to at least one expand or develop an export market 311&5#'('+38!$%(6$3%'31'*S&)'(##&67' market. or demonstrate that the business >359$%,'+(-$6(.'*%(%+$%,'(%)')&!6' • Working capital is an allowable use has been adversely affected by

5&*%(%+$%,'>$6='6=&'HOR4#'8(S$8"8' of proceeds under the ITL. import competition and that the ITL CAPITAL guaranty­­90 percent­­on the total loan • Proceeds may be used for the will allow the business to improve amount. The maximum loan amount is 5&*%(%+$%,'31')&!6'%36'#65"+6"5&)' its competitive position. $5 million. on reasonable terms and conditions, $%+.")$%,'(%2')&!6'6=(6'N"(.$*&#'135' Foreign Buyer Eligibility Guaranty Coverage 5&*%(%+$%,'"%)&5'6=&'#6(%)(5)'HOR' Foreign buyers must be located in The SBA can guaranty up to 90 7(a) Loan Program. those countries where the Export­ percent of an ITL up to a maximum Import Bank of the U.S. is not of $4.5 million, less the amount of Loan Term -53=$!$6&)'1538'-53Q$)$%,'*%(%+$(.' the guaranteed portion of other SBA • Maturities on the working capital assistance. loans outstanding to the borrower. The portion of the ITL are typically maximum guaranty for any working limited to 10 years.

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 33 Collateral Requirements • Low guaranty fee of one­quarter certain construction, service and supply • Only collateral located in the of one percent of the guaranteed contracts, subcontracts, or purchase U.S. (including its territories and portion for loans with maturities of 35)&5#`'*%(%+&'6=&')$5&+6'+3#6'(##3+$(6&)' possessions) is acceptable. 12 months or less. with commercial and residential • First lien on property or equipment • Loan maturities are generally for 12 construction; or provide general working *%(%+&)'!2'6=&'0:d'35'3%'36=&5' months or less, but can be up to a capital lines of credit. The maturity assets of the business is required. maximum of 36 months. can be for up to 10 years except for However, an ITL can be secured the Builders Capline which is limited by a second lien position if the Use of Proceeds 63'DC'83%6=#'(16&5'6=&'*5#6'#65"+6"5&' SBA determines there is adequate • To pay for the manufacturing costs is completed. Guaranty percentages of goods for export. assurance of loan repayment. are the same as for a Basic 7(a) Loan. • To purchase goods or services for • Additional collateral, including There are four distinct short term loan personal guaranties and those export. programs under the CAPLine umbrella: (##&6#'%36'*%(%+&)'>$6='0:d' • To support standby letters of credit • The Contract Loan Program is proceeds, may be appropriate. to act as bid or performance bonds. "#&)'63'*%(%+&'6=&'+3#6'(##3+$(6&)' A small business wanting to qualify ;'' :3'*%(%+&'135&$,%'(++3"%6#' with contracts, subcontracts, or as adversely impacted from import receivable. purchase orders. Proceeds can be competition must submit supporting disbursed before the work begins. If documentation that explains the Interest Rates used for one contract or subcontract, impact, and a plan with projections The SBA does not establish or it is generally not revolving; if that explains how the loan will subsidize interest rates on loans. The used for more than one contract improve the business’ competitive $%6&5'5(6&'+(%'!&'*S&)'35'Q(5$(!.&' or subcontract at a time, it can be position. and is negotiated between the borrower revolving. The loan maturity is

and the participating lender. usually based on the length of the CAPITAL Export Working Capital Program contract, but no more than 10 years. The SBA’s Export Working Capital Advance Rates Contract payments are generally Program (EWCP) assists businesses • Up to 90 percent on purchase sent directly to the lender but exporters in meeting their short­term orders. alternative structures are available. export working capital needs. Exporters • Up to 90 percent on documentary • The Seasonal Line of Credit can use the proceeds to make the letters of credit. Program is used to support products they will be exporting. They • Up to 90 percent on foreign buildup of inventory, accounts can also apply for such lines of credit accounts receivable. receivable or labor and materials -5$35'63'*%(.$V$%,'(%'&S-356'#(.&'35' • Up to 75 percent on eligible foreign above normal usage for seasonal contract. With an approved EWCP inventory located within the U.S. inventory. The business must have • In all cases, not to exceed the loan in place, exporters have greater been in business for a period of 12 exporter’s costs. ?&S$!$.$62'$%'%&,36$(6$%,'&S-356'-(28&%6' 83%6=#'(%)'8"#6'=(Q&'(')&*%$6&' established seasonal pattern. The terms—secure in the assurance that Collateral Requirements ()&N"(6&'*%(%+$%,'>$..'!&'$%'-.(+&' loan may be used over again after The export­related inventory and the when the export order is won. a “clean­up” period of 30 days to receivables generated by the export *%(%+&'(+6$Q$62'135'('%&>'#&(#3%/' Benefits of the EWCP #(.&#'*%(%+&)'>$6='LTI_'1"%)#' These loans also may have a • Financing for suppliers, inventory generally will be considered adequate 8(6"5$62'31'"-'63'*Q&'2&(5#/':=&' or production of export goods. collateral. The SBA requires the business may not have another • Export working capital during long personal guarantee of owners with 20 seasonal line of credit outstanding payment cycles. percent or more ownership. but may have other lines for non­ • Financing for stand­by letters of seasonal working capital needs. credit used as bid or performance How to apply • The Builders Line Program bonds or advance payment Application is made directly to SBA­ -53Q$)&#'*%(%+$%,'135'#8(..' guarantees. participating lenders. Businesses are contractors or developers to • Reserves domestic working capital encouraged to contact SBA staff at their construct or rehabilitate residential for the company’s sales within the local U.S. Export Assistance Center or commercial property. Loan U.S. (USEAC) to discuss whether they are maturity is generally three years • Permits increased global eligible for the EWCP and whether it is !"6'+(%'!&'&S6&%)&)'"-'63'*Q&' competitiveness by allowing the the appropriate tool to meet their export years, if necessary, to facilitate exporter to extend more liberal sales *%(%+$%,'%&&)#/'_(56$+$-(6$%,'.&%)&5#' sale of the property. Proceeds are terms. review/approve the application and used solely for direct expenses of acquisition, immediate construction • Increases sales prospects in under­ submit the guaranty request to SBA (%)a35'#$,%$*+(%6'5&=(!$.$6(6$3%' developed markets which may have staff at the local USEAC. high capital costs for importers. of the residential or commercial structures. The purchase of the land • Low fees and quick processing CAPLines times. can be included if it does not exceed The CAPLines Program is designed 20 percent of the loan proceeds. Up to help small businesses meet their to 5 percent of the proceeds can be Guaranty Coverage short­term and cyclical working capital • Maximum loan amount is used for physical improvements needs. The programs can be used to $5,000,000. 6=(6'!&%&*6'6=&'-53-&562/ • 90 percent of principal and accrued *%(%+&'#&(#3%(.'>359$%,'+(-$6(.'%&&)#`' • The Working Capital Line interest up to 120 days. *%(%+&'6=&')$5&+6'+3#6#'31'-&51358$%,' Program is a revolving line of credit

34 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma (up to $5,000,000) that provides and use their own closing documents. Export Express short term working capital. These With this ability the lender can tailor SBA’s Export Express loans offers lines of credit are generally used a line of credit that it gets guaranteed ?&S$!$.$62'(%)'&(#&'31'"#&'135'!36=' by businesses that provide credit to by SBA to the needs of the business. borrowers and lenders on loans up to their customers, or whose principle Therefore, if a potential applicant sees $500,000. It is the simplest export loan asset is inventory. Disbursements that the previously listed Basic 7(a) or product offered by the SBA. are generally based on the size of a Special Purpose 7(a) Programs don’t borrower’s accounts receivable and/ meet their needs they should discuss or inventory. Repayment comes Use of Proceeds their options with a lender capable of Loan proceeds may be used for from the collection of accounts providing an SBA Express or Export receivable or sale of inventory. The business purposes that will enhance a Express loan with an SBA guaranty. #-&+$*+'#65"+6"5&'$#'%&,36$(6&)'>$6=' company’s export development. Export the lender. There may be extra Express can take the form of a term servicing and monitoring of the SBAExpress loan or a revolving line of credit. As collateral for which the lender can The SBAExpress Loan or Line of an example, proceeds can be used to charge up to 2 percent annually to I5&)$6'$#'('?&S$!.&'#8(..&5'.3(%'"-' fund participation in a foreign trade the borrower. to $350,000 that a designated lender #=3>7'*%(%+&'#6(%)!2'.&66&5#'31'+5&)$67' can provide to its borrower using translate product literature for use in Other Guaranty Lines of Credit mostly their own forms, analysis and 135&$,%'8(59&6#7'*%(%+&'#-&+$*+'&S-356' procedures to process, structure, service, 35)&5#7'(#'>&..'(#'63'*%(%+&'&S-(%#$3%#7'

All the Special Purpose Programs CAPITAL listed above have SBA structured and disburse this SBA­guaranteed equipment purchases, and inventory or repayment terms meaning the Agency loan. When structured as a term loan real estate acquisitions, etc. tells the lender how principal and the proceeds and maturity are the interest is to be repaid. These programs same as a Basic 7(a) Loan. When Ineligible Use of Proceeds also require the lender to use certain structured as a revolving line of credit ' _53+&&)#'8(2'%36'!&'"#&)'63'*%(%+&' closing forms. Lenders with the ability the requirements for the payment overseas operations other than those to obtain 7(a) guarantees through any of interest and principal are at the strictly associated with the marketing of the Express processes are considered discretion of the lender and maturity and/or distribution of products/services experienced enough to be able to can’t exceed 7 years. exported from the U.S. structure their own repayment terms

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 35 Interest Rates a request for guaranty have less historical and current issues that Terms are negotiated between the requirements for SBA, so the time require explanation. SBA also expects borrower and lender but interest rates SBA take is less, but potentially more a discussion of the process by which the may not exceed Prime plus 4.5 percent requirements or responsibilities for applicant business generates its income on loans over $50,000 and Prime plus the lender. The determining factors when it is not immediately obvious. 6.5 percent on loans of $50,000 or less. on which one is used depends on the An explanation of how the business experience of the lender in dealing conducts its operation is also expected. Exporter Eligibility with SBA, the complexity of the case, SBA has three days to screen Any business that has been in the purpose of the loan, and the dollar and 10 days to process the request amount being requested. operation, although not necessarily in for guaranty from the lender. Any exporting, for at least 12 full months additional time a lender takes to make and can demonstrate that the loan Standard 7(a) Loan Processing their determination prior to requesting proceeds will support its export After the applicant business and a guaranty from SBA will add to the activity is eligible for Export Express. lender complete their required .&%,6='31'6$8&'63'5&(+='('*%(.')&+$#$3%/'' The one year in business operations documents, the lender makes If the guaranty is approved, SBA will requirement can be waived if the application to SBA for a guaranty prepare a loan authorization outlining applicant can demonstrate previous by submitting them to SBA’s Loan the terms and conditions under which successful business experience and Guaranty Processing Center. The the guaranty is provided and prepare an exporting expertise and the lender does center will screen the application and, if approval letter for transmission to the conventional underwriting, not relying satisfactory complete a thorough review lender. solely on credit scoring. of both eligibility and creditworthiness before making the decision to approve Certified Processing Foreign Buyer Eligibility the issuance of a guaranty as submitted, ' HOR'=(#'('I&56$*&)'d&%)&5#'_53,5(8'

CAPITAL The exporter’s foreign buyer must be (--53Q&'>$6='83)$*+(6$3%#'f>=$+=' (CLP) which lenders with more a creditworthy entity and not located will be discussed with the lender), or experience and commitment to SBA $%'+3"%65$&#'-53=$!$6&)'135'*%(%+$(.' reject the request. When the lender lender can obtain which allows them support on the Export­Import Bank’s makes application to SBA, they have to request a 7(a) guaranty through a Country Limitation Schedule and the already internally agreed to approve process similar to the Standard process methods of payment must be acceptable the recommended loan to the applicant except the SBA will only review the to the SBA and the SBA lender. if, and only if, the SBA provides a lenders request rather than re­analyze. guaranty. How to Apply Standard processing means a lender Preferred Processing Interested businesses should contact makes their request for guaranty using SBA has a Preferred Lenders their existing lender to determine SBA Form 1920 and the applicant Program (PLP) designed for lenders if they are an SBA Export Express completes SBA Form 1919, even if the who have been delegated the authority lender. Application is made directly applicant previously completed the to make both the eligibility and credit to the lender. Lenders use their own lender’s required application forms. decisions without a second look by application material in addition to The analysis of eligibility starts with a SBA. This process is used by the most SBA’s Borrower Information Form. review of the “Eligibility Questionnaire,” experienced lenders who have the Lenders’ approved requests are then completed by the lender. The analysis most dedicated staffs ready to review submitted with a limited amount of of credit starts with a review of the 5&N"#'135'*%(%+$(.'(##$#6(%+&'1538' eligibility information to SBA’s National SBA Form 1920 and the lender’s credit existing and potential customers in Loan Processing Center for review. memo which must discuss at least six order to see if they need to become SBA elements: guaranteed loans. 1. Balance sheet and ratio analysis; 7(a) LOAN PROCESSES FOR 2. Analysis of repayment. It is not SBAExpress Processing LENDERS acceptable to base repayment ability The SBAExpress guaranty is available solely on the applicant’s credit score. There are various ways a lender can to lenders as a way to obtain a guaranty 3. Assessment of the management on smaller loans up to $350,000. The apply to SBA for a 7(a) guaranty. Some skills of the applicant; are designed for experienced lenders program authorizes select, experienced 4. Explanation of the collateral used to lenders to use mostly their own forms, who are fully committed to providing secure the loan and the adequacy of business loans guaranteed by SBA to analysis and procedures to process, the proposed collateral; structure, service, and disburse SBA­ their clientele that need them, while 5. Lender’s credit history with guaranteed loans. The SBA guarantees others are designed for lenders with applicant including an explanation limited experience or when there of any weaknesses; up to 50 percent of an SBAExpress are certain issues that require SBA C/'I"55&%6'*%(%+$(.'#6(6&8&%6#'(%)' loan. Loans under $25,000 do not to thoroughly review the situation. -53B1358('*%(%+$(.'#-5&()/''HOR' require collateral. The use of proceeds The fundamental process available -53B1358('(%(.2#$#'5&?&+6#'=3>' for a term loan is the same as for any to all lenders who have signed up to the business will look immediately Basic 7(a) Loan. Like most 7(a) loans, participate with SBA is called the following disbursement, not one 8(6"5$6$&#'(5&'"#"(..2'*Q&'63'#&Q&%' Standard Loan Guaranty Process. It is year after disbursement. years for working capital and up to used by lenders to request a guaranty SBA also expects that the lender’s 25 years for real estate or equipment. from SBA when they are new to SBA credit memo includes the intended Revolving lines of credit are allowed for lending or the request requires an SBA a maximum of seven years. review. Other methods of processing use of the loan proceeds and any

36 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma Export Express Processing The application process is the same Dorchester Bay Economic Development SBA Export Express offers as for a Basic 7(a) Loan. The main Corporation ?&S$!$.$62'(%)'&(#&'31'"#&'135'.&%)&5#/'' difference with this program from other 594 Columbia Rd. Participating lenders may use their SBA 7(a) loan programs is the lender Dorchester, MA 02125 own forms, procedures and analyses. who ultimately provides the loan funds 617-825-4200 The SBA provides the lender with an is not a traditional SBA lender. The immediate response. This loan is subject maximum loan amount is $350,000. New Bedford Economic Development Visit: www.sba.gov/content/community- Council, Inc. to the same loan processing, closing, 1213 Purchase St. advantage-loans for more information servicing and liquidation requirements New Bedford, MA 02740 as for other similar­sized SBA loans. about this program. 508-991-3122 Guaranty Coverage Massachusetts Community Advantage South Eastern Economic Development The SBA provides lenders with a Lenders Corp./SEED 90 percent guaranty on loans up to 80 Dean St. Bay Colony Development Corporation $350,000 and a 75 percent guaranty on Taunton, MA 02780 City Point 508-822-1020 loans between $350,001 and $500,000. 230 Third Ave., 1st Fl. Waltham, MA 02451 Community Advantage Loans Eric Adams CERTIFIED DEVELOPMENT The Community Advantage Pilot 781-478-3650

COMPANY LOAN PROGRAM CAPITAL Program is aimed at helping businesses Service Area: Statewide located in underserved communities (504 LOANS) gain access to capital by opening up 7(a) Cape & Islands Community Development, Inc. The 504 Loan program is an economic lending to mission­focused, community­ 5 Shoot Flying Hill Rd. development program that supports based lenders — such as Community Centerville, MA 02632 American small business growth and Development Financial Institutions 508-362-3755 helps communities through business fIP[0#c7'I&56$*&)'P&Q&.3-8&%6' expansion and job creation. The 504 Common Capital Inc. Companies (CDCs), and SBA Microloan (Western Mass. Enterprise Fund) .3(%'-53,5(8'-53Q$)&#'.3%,B6&587'*S&)B Intermediaries. These lenders provide 4 Open Square Way, Ste. 407 5(6&7'#"!35)$%(6&'8356,(,&'*%(%+$%,' technical assistance and economic Holyoke, MA 01040 for acquisition and/or renovation of development support to businesses 413-420-0183 capital assets including land, buildings located in underserved markets. (%)'&N"$-8&%6/'H38&'5&*%(%+$%,'$#'

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 37 (.#3'-&58$66&)/'<3#6'135B-53*6'#8(..' 50 percent of the project cost and Granite State Development Corporation businesses are eligible for this program. 5&+&$Q&#'('*5#6'.$&%'3%'6=&'-53M&+6' One Cate St. The types of businesses excluded from assets (but no SBA guaranty); A Portsmouth, NH 03801 7(a) loans (listed previously) are also CDC (backed by a 100 percent Matt Collins, Vice President excluded from the 504 loan program. SBA­guaranteed debenture) 508-294-6822 ' :=&'HOR4#'GAE'I&56$*&)'P&Q&.3-8&%6' *%(%+&#'"-'63'EA'-&5+&%6'31'6=&' Service Area: Statewide Companies (CDC) serve their project costs secured with a junior New England Certified Development +388"%$6$&#'!2'*%(%+$%,'!"#$%&##' lien. The borrower provides the balance of the project costs. Corporation expansion needs. Their professional 500 Edgewater Dr. Ste. 555 staff works directly with borrowers to • Fixed interest rate on SBA Wakefield, MA 01880 6($.35'('*%(%+$%,'-(+9(,&'6=(6'8&&6#' loan. The SBA guarantees Paul Flynn, Director of SBA Lending program guidelines and the credit the debenture 100 percent. 781-928-1100 capacity of the borrower’s business. Debentures are sold in pools Service Area: Statewide CDCs work with banks and other monthly to private investors. This .3>7'*S&)'5(6&'$#'6=&%'-(##&)'3%'63' .&%)&5#'63'8(9&'.3(%#'$%'*5#6'-3#$6$3%' Ocean State Business Development the borrower and establishes the Authority on reasonable terms, helping lenders basis for the loan rate. 155 S. Main St., Ste. 301 retain growing customers and provide • All project­related costs can be Providence, RI 02903 Community Reinvestment Act credit. *%(%+&)7'$%+.")$%,'(+N"$#$6$3%' Henry Violet, President The SBA 504 loan is distinguished (land and building, land and 401-454-4560 from the SBA 7(a) loan program in construction of building, Service Areas: Bristol, Norfolk and Worcester these ways: renovations, machinery and counties. The maximum debenture, or long-term equipment) and soft costs, such South Eastern Economic Development loan, is: as title insurance and appraisals. Corporation (SEED) • $5 million for businesses that create Some closing costs may be 80 Dean St. CAPITAL a certain number of jobs or improve *%(%+&)/ Taunton, MA 02780 the local economy; • Collateral is typically a Maria Gooch-Smith, Executive Director • $5 million for businesses that subordinate lien on the assets 508-822-1020 8&&6'('#-&+$*+'-"!.$+'-3.$+2',3(.7'' *%(%+&)`'(..3>#'36=&5'(##&6#'63' Service Area: Statewide including loans for aiding rural be free of liens and available to development and expansion of small #&+"5&'36=&5'%&&)&)'*%(%+$%,/ Worcester Business Development businesses owned by veterans, • Long­term real estate loans are up Corporation women, and minorities; and to 20­year term, heavy equipment 89 Shrewsbury St., Ste. 300 • $5.5 million for manufacturers and 10­ or 20­year term and are self­ Worcester, MA 01604 energy related public policy projects. amortizing. Craig Blais, President Recent additions to the program 508-755-5734 Businesses that receive 504 loans are: Service Area: Statewide allow $5.5 million for each project • Small — net worth under $15 that reduces the borrower’s energy 8$..$3%7'%&6'-53*6'(16&5'6(S&#'"%)&5' consumption by at least 10 percent; $5 million, or meet other SBA size MICROLOAN PROGRAM and $5.5 million for each project that standards. (LOANS UP TO $50,000) generates renewable energy fuels, such ;''J5,(%$V&)'135B-53*6/ The Microloan Program provides as biodiesel or ethanol production. • Most types of business — retail, very small loans (up to $50,000) to Projects eligible for up to $5.5 million service, wholesale or manufacturing. women, low­income, minority, veteran, under one of these two requirements For information, visit and other small business owners do not have to meet the job creation or www.sba.gov/504. retention requirement, so long as the through a network of more than 100 IPI'-35613.$3'5&?&+6#'(%'(Q&5(,&'M3!#'63' Bay Colony Development Corporation Intermediaries nationwide. Under debenture portfolio ratio of at least 1 job City Point this program, the SBA makes funds per $65,000. 230 Third Ave., 1st Fl. (Q($.(!.&'63'%3%-53*6'$%6&58&)$(5$&#' • Eligible project costs are limited Waltham, MA 02451 that, in turn, make the small loans Eric Adams 63'.3%,B6&587'*S&)'(##&6#'#"+=' directly to start­up and existing 781-478-3650 businesses. Entrepreneurs work directly as land and building (occupied Service Area: Statewide by the borrower) and substantial with the Intermediaries to receive machinery and equipment. *%(%+$%,'(%)'!"#$%&##'9%3>.&),&' Coastal Community Capital support. The proceeds of a microloan • Most borrowers are required 5 Shoot Flying Hill Rd. to make an injection (borrower Centerville, MA 02632 can be used for working capital, or the contribution) of just 10 percent Jeannine Marshall, Executive Director -"5+=(#&'31'1"5%$6"5&7'*S6"5'#"--.$' which allows the business to 508-362-3755 materials, and/or equipment. Microloans conserve valuable operating Service Area: Statewide may not be used for the purchase of real capital. A further injection of 5 estate. Interest rates are negotiated percent is needed if the business Dorchester Bay Economic Development between the borrower and the is a start­up or new (less than two Corporation Intermediary. The maximum term for years old), and a further injection 594 Columbia Rd., Ste. 302 a microloan is six years. Because funds Dorchester, MA 02125 are borrowed from the Intermediary, of 5 percent is also required if the Dan DeSantis, Director primary collateral will be a single­ SBA is not involved in the business loan 617-825-4200 application or approval process. And, purpose building (such as a hotel). Service Area: Statewide ;'':>3B6$&5&)'-53M&+6'*%(%+$%,h''R' payments are made directly from the .&%)&5'*%(%+&#'(--53S$8(6&.2' small business to the Intermediary.

38 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma The program also provides business­ Community Teamwork, Inc New Bedford Economic Development * based training and technical assistance Merrimack Valley Small Business Center 1213 Purchase St., 3rd Fl. to micro­borrowers and potential micro­ 88 Middle St., Ste. 202 New Bedford, MA 02740 borrowers to help them successfully Lowell, MA 01852 Ramon Silva, Senior Lending Officer start or grow their businesses. Such Liliana Kualapai, Center Director 508-991-3122 ext. 24 • 508-991-7372 Fax training and technical assistance may 978-322-8400 [email protected] include general business education, [email protected] Service Area: City of New Bedford assistance with business planning, www.commteam.org $%)"#652B#-&+$*+'65($%$%,7'(%)'36=&5' Service Areas: Essex and Middlesex North Central Massachusetts Economic types of training support. Development Council Entrepreneurs and small business Dorchester Bay Economic Dev. Corp.* 860 South St. owners interested in small amounts 594 Columbia Rd., Ste. 302 Fitchburg, MA 01420 31'!"#$%&##'*%(%+$%,'#=3".)'+3%6(+6' Dorchester, MA 02125 David Ritter 6=&'%&(5'HOR')$#65$+6'31*+&'135' Dan DeSantis, Director 978-353-7607 617-825-4200 Service Area: North Central MA information about the nearest Microloan Service Areas: Lower Roxbury and Program Intermediary Lender or go to Dorchester South Eastern Econ. Dev. Corp. (SEED) * www.sba.gov/microloans. 80 Dean St. Accion USA * Economic Dev. Industrial Corp. of Lynn Taunton, MA 02780 10 Fawcett St., Ste. 204 Lynn City Hall, 3 City Hall Sq., Rm. 307 Maria Gooch-Smith, Executive Director Lynn, MA 01901 508-822-1020

Cambridge, MA 02138 CAPITAL Ana Hammock, Dir. Of Lending James Cowdell, Executive Director [email protected] 617-625-7080 781-581-9399 Service Areas: Norfolk, Bristol, Plymouth, Service Area: Statewide Service Area: City of Lynn Barnstable, Dukes, Suffolk, Middlesex, Nantucket Common Capital, Inc. * Jobs for Fall River, Inc. 4 Open Square Way, Ste. 407 One Government Center *also a Community Advantage Lender Holyoke, MA 01040 Fall River, MA 02722 Sam Ortiz, Commercial Lender Kenneth Fiola 413-420-0183 508-324-2620 Service Areas: Berkshire, Franklin, kenfi[email protected] Hampshire, Hampden Counties & parts of Service Area: City of Fall River Worcester

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 39 monitor and service bonds without the Crescent Direct Lending SBIC Fund, L.P. STATE TRADE AND EXPORT SBA’s prior approval. John Bowman PROMOTION (STEP) Small businesses, surety companies, One Post Office Sq., 36th Fl. and bond agents are invited to visit our Boston, MA 02109 PROGRAM website at www.sba.gov/osg. 617-854-1501 • 617-854-1550 Fax The State Trade and Export Participating agents and sureties may [email protected] (link sends Promotion (STEP) Program is a pilot be found at http://web.sba.gov/orasbgpub/ e-mail) export initiative to make matching­ dsp_welcome.cfm. Investment Criteria fund awards to states to assist small ' :=&'-53,5(8'31*+&'8(2'!&'5&(+=&)'(6' Investment Size Range businesses enter and succeed in the 202­205­6540 or Preferred Min: $0

international marketplace. Activities to Preferred Max: $0 support small business exporting under Tamara E. Murray Type of Capital Provided Underwriting Marketing Specialist Funding Stage Preference the STEP Program are provided to Denver, CO Industry Preference eligible small business concerns (“STEP 303-927-3479 Geographic Preferences Clients”) located in states, territories, Description of Firm’s Focus and the District of Columbia. For more Linda M. Laws information on the STEP program visit Underwriting Marketing Specialist Crystal Financial SBIC LP www.sba.gov/internationaltrade. Seattle, WA Ward K. Mooney 206-553-7317 Two International Place, 17th Fl. Boston, MA 02110 SURETY BOND SMALL BUSINESS 617-428-8700 • 617-428-8701 Fax GUARANTEE PROGRAM INVESTMENT COMPANY jfranklin@crystalfinco.com The Surety Bond Guarantee Program Draper Fisher Jurvetson New England is a public­private partnership between PROGRAM Fund I (SBIC), L.P. CAPITAL the Federal government and surety The Small Business Investment Todd Hixon, Contact companies to provide small businesses Company (SBIC) program is a multi­ One Broadway, 14th Fl. with the bonding assistance necessary billion dollar program founded in 1958, Cambridge, MA 02142 for them to compete for public and (#'3%&'31'8(%2'*%(%+$(.'(##$#6(%+&' 617-758-4213 • 617-758-4101 Fax private contracting and subcontracting programs available through the U.S. [email protected] opportunities. The guarantee provides Small Business Administration. The Investment Criteria an incentive for sureties to bond small structure of the program is unique in Description of Firm’s Focus businesses that would otherwise be that SBICs are privately owned and This fund is no longer investing in unable to obtain bonding. The program managed investment funds, licensed new portfolio companies. is aimed at small businesses that lack and regulated by SBA, that use their the working capital or performance own capital plus funds borrowed with Gemini Investors III, L.P. track record necessary to secure an SBA guarantee to make equity David F. Millet, Contact bonding on a reasonable basis through and debt investments in qualifying 20 William St., Ste. 250 regular commercial channels. small businesses. The funds raise Wellesley, MA 02481 Through this program, the SBA private capital and can receive SBA­ 781-237-7001 • 781-237-7233 Fax [email protected] guarantees bid, payment, performance guaranteed leverage up to three times and ancillary bonds issued by surety private capital, with a leverage ceiling Gemini Investors IV, L.P. companies for individual contracts and of $150 million per SBIC and $225 subcontracts up to $6.5 million. The Matt Keis, Contact million for two or more licenses under 20 William St., Ste. 250 SBA reimburses sureties between 70 common control. Licensed SBICs are Wellesley, MA 02481 and 90 percent of losses sustained if a 135B-53*6'$%QD&%6'*58#'>=3#&' 781-237-7001 • 781-237-7233 Fax contractor defaults on the contract. On incentive is to share in the success [email protected] Federal contracts, SBA can guarantee of a small business. The U.S. Small bonds on contracts up to $10 million, if Business Administration does not invest High Peaks Ventures, L.P. guarantee would be in the best interest directly into small business through the Russell Howard, Contact of the Government. SBIC Program, but provides funding One Bank St., 2nd Fl. SBA has two program components, through SBA guarantee debentures Williamstown, MA 01267 the Prior Approval Program and the 63'N"(.$*&)'$%QD&%6'8(%(,&8&%6' 518-720-3090 • 518-720-3091 Fax Preferred Surety Bond Program. In *58#'>$6='&S-&56$#&'$%'+&56($%'#&+635#'35' [email protected] the Prior Approval Program, the SBA industries. Investment Criteria guarantees 90 percent of surety’s paid Investment Size Range: SBIC Licensees Located in Massachusetts losses and expenses on bonded contracts Preferred Min: $750,000 up to $100,000, and on bonded contracts Ascent Venture Partners IV-A, L.P. Preferred Max: $3,000,000 greater than $100,000 that are Brian Girvan, Contact Type of Capital Provided: Equity Capital awarded to socially and economically 255 State St., 5th Fl. Funding Stage Preference: Early Stage disadvantaged concerns, HUBZone Boston, MA 02109 Industry Preference: Technology contractors, and veterans, and 617-720-9400 • 617-720-9401 Fax Geographic Preferences: New York State service­disabled veteran­owned small [email protected] Description of Firm’s Focus: businesses. All other bonds guaranteed High Peaks is a venture capital firm in the Prior Approval Program receive Citizens Ventures, Inc. focused on investments in market leading, an 80 percent guarantee. Sureties must Joshua Conlon - EVP, Director early stage tech. companies. High Peaks obtain the SBA’s prior approval for 28 State St., 11th Fl., MS 1000 closed its inaugural fund in ‘04 & is actively in- vesting in NY state and thru-out the each bond guarantee issued. Under the Boston, MA 02109 617-994-7084 • 617-742-9471 Fax north-east focusing on internet-enabled Preferred Program, the SBA guarantees business. 70 percent, and sureties may issue, [email protected]

40 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma Lancet Capital Health Ventures, L.P. Long River Ventures III, L.P. Seacoast Capital Partners III, L.P. William Golden, Manager Tripp Peake Thomas Gorman, Contact 245 First St., Ste. 1800 7 North Pleasant St., Ste. 2C 55 Ferncroft Rd., Ste. 110 Cambridge, MA 02142 Amherst, MA 01002 Danvers, MA 01923 617-444-8582 • 617-444-8405 Fax 413-587-2155 • 413-587-2156 Fax 978-750-1311 • 978-750-1301 Fax [email protected] [email protected] (link sends e-mail) [email protected] Investment Criteria Investment Criteria Investment Size Range Investment Size Range SEED Ventures, L.P. Preferred Min: $100,000 Preferred Min: $0 Thomas Wooters, Contact Preferred Max: $2,500,000 Preferred Max: $0 80 Dean St. Type of Capital Provided: Private Equity Type of Capital Provided Taunton, MA 02780 Funding Stage Preference: Early Stage Funding Stage Preference 508-822-1020 • 508-880-7869 Fax Industry Preference: Biomedical Industry Preference [email protected] Geographic Preferences: Northeast Geographic Preferences Investment Criteria US Description of Firm’s Focus: Description of Firm’s Focus Investment Size Range Invest primarily in medical device, Preferred Min: $100,000 drug discovery, bioinformatics companies. Pine Street Capital Partners II, L.P. Preferred Max: $1,250,000 David Morris Type of Capital Provided: Lineage Capital II, L.P. 572 Washington St. 75%: Loan and debt T. Brook Parker The Rotunda Bldg., Ste. 16 25%: Equity Wellesley, MA 12207 399 Boylston St., Ste. 450 Funding Stage Preference: CAPITAL Boston, MA 02116 781-237-0005 20-30%: startup & dvlpmnt 617-778-0672 • 617-778-0659 Fax PVP Fund I, L.P. 70-80%: Exp & Later [email protected] (link sends e-mail) Russell Howard Industry Preference: No industry specific Investment Criteria Primary Venture Partners Geographic Preferences: Investment Size Range One Bank St., 2nd Fl. Southeast Massachusetts Preferred Min: $0 Williamstown, MA 01267 Preferred Max: $0 518-720-3090 • 518-720-3091 Fax Ticonderoga SBIC, L.P. [email protected] (link sends e-mail) Craig A.T. Jones, Contact Investment Criteria 25 Braintree Hill Park, Ste. 200 Investment Size Range Braintree, MA 02184 Preferred Min: $0 781-416-3400 • 781-416-9868 Fax Preferred Max: $0

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 41 Phase I and II awards: that meet the requirements of THE SMALL BUSINESS U/' J5,(%$V&)'135'-53*67'>$6='('-.(+&' paragraph (a)(1)(ii) of this section INNOVATION RESEARCH of business located in the United must comply with §121.705(b) States; concerning registration and PROGRAM 2. No more than 500 employees, proposal requirements. The Small Business Innovation $%+.")$%,'(1*.$(6&#` 6. No single venture capital operating Research (SBIR) program is a highly 3. Be a concern which is more than company, hedge fund, or private competitive program that encourages 50% directly owned and controlled &N"$62'*58'8(2'3>%'835&'6=(%' domestic small businesses to engage by one or more individuals (who 50% of the concern. in Federal Research/Research and are citizens or permanent resident 7. For awards from agencies using the aliens of the United States), authority under 15 U.S.C. 638(dd) Development (R/R&D) that has the other small business concerns (1), an awardee may be owned and potential for commercialization. (each of which is more than 50% controlled by more than one VC, Through a competitive awards­ directly owned and controlled by =&),&'1"%)7'35'-5$Q(6&'&N"$62'*58' based program, SBIR enables small individuals who are citizens or #3'.3%,'(#'%3'3%&'#"+='*58'3>%#'(' businesses to explore their technological permanent resident aliens of the majority of the stock. potential and provides the incentive to United States), or any combination 8. If an Employee Stock Ownership -53*6'1538'$6#'+388&5+$(.$V(6$3%/'O2' of these; Plan owns all or part of the $%+.")$%,'N"(.$*&)'#8(..'!"#$%&##&#' 4. Be a concern which is more than concern, each stock trustee and in the nation’s R&D arena, high­tech 50% owned by multiple venture plan member is considered an innovation is stimulated and the United capital operating companies, hedge owner. States gains entrepreneurial spirit 1"%)#7'-5$Q(6&'&N"$62'*58#7'35'(%2' 9. If a trust owns all or part of the (#'$6'8&&6#'$6#'#-&+$*+'5&#&(5+='(%)' combination of these (for agencies concern, each trustee and trust development needs. electing to use the authority in 15 !&%&*+$(52'$#'+3%#$)&5&)'(%'3>%&5/ U.S.C. 638(dd)(1)); or 10. Phase I awardees with multiple CAPITAL SBIR Program Eligibility 5. Be a joint venture in which each prior awards must meet the Only United States small businesses entity to the joint venture must benchmark requirements for are eligible to participate in the SBIR meet the requirements set forth in progress toward commercialization. program. An SBIR awardee must meet paragraph (a)(1)(i) or (a)(1)(ii) of this section. A joint venture that the following criteria at the time of SBIR-Participating Agencies includes one or more concerns Each year, Federal agencies with extramural research and development (R&D) budgets that exceed $100 million are required to reserve 2.9% (FY 15) of the extramural research budget for SBIR awards to small businesses. These agencies designate R&D topics and accept proposals. Currently, eleven agencies participate in the SBIR program: • Department of Agriculture • Department of Commerce ­ National Institute of Standards and Technology • Department of Commerce ­ National Oceanic and Atmospheric Administration • Department of Defense • Department of Education • Department of Energy • Department of Health and Human Services • Department of Homeland Security • Department of Transportation • Environmental Protection Agency • National Aeronautics and Space Administration • National Science Foundation For additional information visit www.sbir.gov.

42 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma • At least 51 percent owned institution to perform at least 30% and controlled by one or more of the R&D. individuals who are citizens of, or 3. Unlike the SBIR program, STTR permanent resident aliens in, the does not require the Principal United States, and; Investigator to be primarily • No more than 500 employees, employed by the SBC. $%+.")$%,'(1*.$(6&#/ ' :=&'%3%-53*6'5&#&(5+='$%#6$6"6$3%' STTR-Participating Agencies must also meet certain eligibility Each year, Federal agencies with criteria: extramural research and development • Located in the US (R&D) budgets that exceed $1 billion ;'' <&&6'3%&'31'6=5&&')&*%$6$3%#h are required to reserve 0.40% (FY 15) ;'' Z3%-53*6'+3..&,&'35'"%$Q&5#$62 of the extramural research budget for ;'' P38$+'%3%-53*6'5&#&(5+=' STTR awards to small businesses. organization These agencies designate R&D topics • Federally funded R&D center (%)'(++&-6'-53-3#(.#/'I"55&%6.27'*Q&' (FFRDC) agencies participate in the STTR STTR differs from SBIR in three program: important aspects: • Department of Defense 1. The SBC and its partnering • Department of Energy CAPITAL institution are required to • Department of Health and Human establish an intellectual property Services agreement detailing the allocation • National Aeronautics and Space of intellectual property rights Administration and rights to carry out follow­ • National Science Foundation on research, development or For additional information visit commercialization activities. www.sbir.gov. 2. STTR requires that the SBC perform at least 40% of the R&D and the single partnering research

SMALL BUSINESS TECHNOLOGY TRANSFER PROGRAM Small Business Technology Transfer (STTR) is another program that expands funding opportunities in the federal innovation research and development (R&D) arena. Central to the program is expansion of the public/ private sector partnership to include the joint venture opportunities for #8(..'!"#$%&##&#'(%)'%3%-53*6'5&#&(5+=' institutions. The unique feature of the STTR program is the requirement for the small business to formally collaborate with a research institution in Phase I and Phase II. STTR’s most important role is to bridge the gap between performance of basic science and commercialization of resulting innovations.

STTR Program Eligibility Only United States small businesses are eligible to participate in the STTR program. The small business must meet all of the following criteria at time of award: ;'' J5,(%$V&)'135'-53*67'>$6='('-.(+&' of business located in the United States;

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 43 SBA ONLINE: WEB­BASED TOOLS FOR BUSINESS OWNERS

The old adage “time is money” is perhaps one of the most pertinent statements that you can apply to small business owners. Whether you’re starting a business or managing a growing one, entrepreneurs and business owners wear many hats and have many questions:

• What laws and regulations apply to my business? • How do I start to write a business plan? • Where can I get help with X, Y and Z? a lender is interested, you will *%(%+$(.' -53M&+6$3%#/' :=&' 633.' $#' Many of us invariably turn to our receive an email with the contact #&+"5&' (%)' +3%*)&%6$(.' (%)' >$..' %&6>359#'(%)'6=&'0%6&5%&6'63'*%)' information for that lender. LINC keep your plan on record for up answers. But how can you trust that can be accessed through SBA’s to six months. You can also save, the information you are getting is truly website at https://www.sba.gov/ download or email the plan at any applicable to your business and, let’s tools/linc. time. face it, even accurate? As part of its mission to help 2. Get to Know Your Market and 4. Size Standards Tool ­ Find Out Fast if You CAPITAL business owners start, succeed and Competition Better with the SizeUp Tool Qualify for Government Contracts grow, SBA, through the SBA.gov Want to know how your business In order to be eligible to sell to website has developed numerous stacks up against the competition? the government and compete online tools and guides to help Where your potential competitors for small business “set­aside” small businesses get information are located? Where the best places contracts, business owners had to and answers they need quickly and are to advertise your business? rummage through various rules &1*+$&%6.2/'[35'&S(8-.&7'6=&#&' These are all critical inputs (%)'8(65$+&#'63'*%)'3"6'$1'6=&$5' 34&/%"0,&%(&/%+)%5#6&+&!1,5#",, for your business plan and can business is truly “small” according and these 34&/%"0,&%(&75)5#6&8(1)& (.#3'=&.-'!(+9'"-'(%2'*%(%+$%,' to SBA size standards. Now, with '5),%&9:0;(8"" guides are essential applications. this new Size Standards Tool, you reading. Then there are the <5="#,",& can follow three simple steps to +#-&>"):5%,&/"+)=?&@((; and the Now with the new SizeUp tool you cut through the guesswork and <(+#,&+#-&A)+#%,&/"+)=?&@((;. can crunch millions of data points N"$+9.2'*%)'3"6'$1'23"'N"(.$12' and get customizable reports and for government contracting statistics about your business and opportunities. SBA also offers New Online Tools to Help Business Owners its competition. Just enter your other resources including Plan, Manage and Grow industry, city, state and other government contracting training The SBA has expanded its capacity details. SizeUp then runs various courses, and guides to help you and selection of tools and information reports and provides maps and register as a contractor. that business owners need by data related to your competition, developing a whole range of new online suppliers and customers. It also 5. Events Calendar ­ Locate Business features! Check them out: highlights potential advertising Training and Seminars opportunities. SBA and its partners, including 1. Find an SBA Lender through the Small Business Development Leveraging Information and Networks to 3. Build a Business Plan Tool Centers, Women’s Business access Capital (LINC) Tool Business planning can seem a Centers, and SCORE, hold '':=&'HOR'&S6&%)#'*%(%+$(.' daunting task, but it doesn’t have hundreds of small business (##$#6(%+&'63'135B-53*6'#8(..' to be that way. To help you plan training seminars and workshops businesses through its lending and steer your business, this new across the country. Until now, -(56%&5#7'#"+='(#'!(%9#7'+&56$*&)' “Build a Business Plan” tool guides there was no single repository for development companies, and you through the process of creating these events. Now, with SBA’s microloan intermediaries. For a basic, downloadable business Events Calendar, you can quickly help locating a lending partner in plan. The great thing about it is *%)'(%)'#$,%'"-'135'65($%$%,/' your area, use SBA’s LINC tool you can build a plan in smaller Enter a date range and/or zip that matches small businesses chunks of time, save your progress code to locate events in your with SBA lenders. LINC begins and return at your leisure. (5&(/'K&#".6#'(5&'*.6&5&)'!2'63-$+' with a simple online form that such as “starting a business,” requests basic information about To use the tool, simply log into “managing a business,” “business 23"5'!"#$%&##'(%)'*%(%+$%,'%&&)#/' SBA.gov and enter information into -.(%%$%,7i'(%)'j*%(%+$%,'(' That information is transmitted a template for each section of the business.” to all participating SBA lenders business plan including, market operating within your county. If analysis, company description and

44 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma Loan Programs for Businesses Ways borrowers can use the money (Information current as of 03/03/2015)

Program !"#$%&'()*+, -,+$#.$/0#1++2, Maturity Maximum Loan 340&14&0+ 5+6+*4,$4#$ Amount 5#00#7+0 5',)1$89': !"#$%#"&'$()*+,-**-*$ Acquire land; purchase Based on the use H$I.*+4$JD.E$4.,$(-$ Term loans with one Business can that can meet SBA’s -6+*'+,2$()+17+,28$4",9-#'0$ of proceeds and for as much as $5 =",'<13$%.3=-,'$"/$ "('.+,$&,.,4+,2$ size standards, -6%.,7$"#$#-,"9.'-$ ("##":-#>*$.(+1+'3$'"$ =+11+",5$KIH>*$1+=+'$ principal and interest not otherwise ,.')#-$"/$()*+,-**0$ ()+17+,2*8$4",*'#)4'$ #-%.35$?"'$(.*-7$",$ '"$.,3$",-$()*+,-**$ DNOPE5$I"##":-#$ .9.+1.(1-0$&6-7$ use of proceeds, ,-:$()+17+,2*8$.4;)+#-$ 4"11.'-#[email protected]+=)=$ +*$LM5JG$=+11+",$*"$ 4",'#+()'+",$#-;)+#-75$ =.')#+'30$.9.+1.(1-$ credit elsewhere, and .,7$+,*'.11$&6-7$.**-'*8$ =.')#+'3A$BC$3-.#*$ .$()*+,-**$4.,$ Interest rate depends when collateral other miscellaneous .4;)+#-$+,9-,'"#38$ for working capital <.9-$=)1'+%1-$1".,*$ upon how lender applies +*$1+=+'-75$Q.,$ -1+2+(+1+'3$/.4'"#*5 purchase supplies and D*-9-,$3-.#*$+*$ 2).#.,'--7$(3$KIH$ /"#$2).#.,'3$D*--$1-,7-#$ -*'.(1+*<$"#$#-R raw materials; purchase a 4"==",E0$BC$3-.#*$ ()'$'<-$2).#.,'--7$ %#"2#.=$4<.#'E5$Q.,,"'$ ./&#=$#-1.'+",*<+%$ ()*+,-**0$*'.#'$.$()*+,-**0$ /"#$&6-7$.**-'*0 %"#'+",$4"=(+,-7$ #-9"19-0$,"$(.11"",$"#$ :+'<$1-,7-#5 1-.*-<"17$+=%#"9-=-,'*0$ FG$3-.#*$/"#$#-.1$ cannot exceed 4.11$%#"9+*+",*5 term working capital; and, -*'.'-5 LM5JG$=+11+",5 under certain conditions,

'"$#-&,.,4-$4-#'.+,$ CAPITAL ")'*'.,7+,2$7-('*5 ;64+06'4)#6'($ Same as Basic H4;)+#-0$#-,"9.'-0$ K.=-$.*$I.*+4$JD.E5 Same as Basic K.=-$.*$I.*+4$JD.E5 Same as Basic <0'2+$=#'6$ JD.E0$%1)*0$()*+,-**$ modernize facilities or JD.E0$()'$:<-,$ JD.E5$N1)*0$1",2R 9;<=: =)*'$(-$-,2.2-7$"#$ equipment used in making ("##":-#$<.*$("'<$ '-#=$&,.,4+,2$ preparing to engage %#"7)4'*$"#$*-#9+4-*$'"$ international trade /"#$-6%"#'R#-1.'-7$ +,$-6%"#'+,2$"#$(-$ (-$-6%"#'-70$%1)*0$/"#$ and working capital &6-7$.**-'*$.,7$ .79-#*-13$.//-4'-7$ permanent working capital 1".,*$2).#.,'--7$(3$ :"#T+,2$4.%+'.15 (3$4"=%-'+'+",$/#"=$ .,7$'"$#-&,.,4-$()*+,-**$ the SBA, the limit to +=%"#'*5 7-('*$4)##-,'13$",$ .,3$",-$()*+,-**$+*$ ),#-.*",.(1-$'-#=*5 LS$=+11+",5 Export K.=-$.*$I.*+4$JD.E5$ K<"#'R'-#=$:"#T+,2$4.%+'.1$ Q.,$(-$)%$'"$.$ Gross loan amount Finance single or N#"9+7-*$Z5K5$ Working N1)*0$=)*'$(-$+,$ '"$4"9-#$'<-$4"*'*$"/$&11+,2$ maximum of 36 LG5C$=+11+",5$KIH$ =)1'+%1-$'#.,*.4'+",*5$ exporters with a Capital Loan ()*+,-**$",-$3-.#$ export orders, including =",'<*$()'$2-,-#.113$ guaranteed portion P,'-#-*'$%.+7$=",'<130$ line of credit that 9>!?/: and engaged or .(+1+'3$'"$*)%%"#'$.,$U6%"#'$ BF$=",'<*$"#$1-**5 LS5G$=+11+", principal paid as 4.,$(-$*-%.#.'-7$ preparing to engage K'.,7RI3$V-''-#$"/$Q#-7+'5 %.3=-,'*$/#"=$+'-=*$ from domestic +,$-6%"#'+,25 *<+%%-7$"9-#*-.*$ operations line of .#-$4"11-4'-75$Q.,$(-$ 4#-7+'5$ #-,-:-7$.,,).1135$U6'#.$ Q.,$(-$)*-7$'"$ /--*$.%%135$N-#4-,'.2-$ &,.,4-$BCCX$"/$ "/$2).#.,'3$)%$'"$WCX5$ '<-$4"*'$"/$&11+,2$ Y-,-#.113$#-9"19+,25 -6%"#'$"#7-#*5 3+',#6'($ K.=-$.*$I.*+4$JD.E5$ ["$&,.,4-$'<-$*-.*",.1$ BC$3-.#* K.=-$.*$I.*+4$JD.E5 K<"#'R'-#=$&,.,4+,2$/"#$ N#"9+7-*$ ?@/()6+, N1)*0$+,$()*+,-**$ increases of accounts *-.*",.1$.4'+9+'+-*$'"$(-$ "%%"#'),+'3$ /"#$.'$1-.*'$",-$3-.#$ #-4-+9.(1-0$+,9-,'"#3$.,7$ repaid at the end of the for seasonal and can demonstrate 1.("#5 *-.*",$:<-,$%.3=-,'$ ()*+,-**-*$'"$2-'$ *-.*",.1$&,.,4+,2$ /"#$'<-$*-.*",.1$.4'+9+'3$ *-.*",.1$&,.,4+,2$ ,--7*5 +*$=.7-$'"$()*+,-** not otherwise .9.+1.(1-5 ?#640'14$ K.=-$.*$I.*+4$JD.E5$ ["$&,.,4-$'<-$4"*'$"/$ BC$3-.#* K.=-$.*$I.*+4$JD.E5 K<"#'R'-#=$&,.,4+,2$ N#"9+7-*$ ?@/()6+, Plus, will perform on ",-$"#$="#-$*%-4+&4$ for performance of "%%"#'),+'3$/"#$ contract or purchase 4",'#.4'0$*)(R4",'#.4'0$"#$ .%%#"9-7$4",'#.4'0$*)(R contractors and "#7-#$/"#$*"=-$'<+#7R purchase order, including contract, or purchase *)(R4",'#.4'"#*$ %.#'3$()3-#5 "9-#<-.7$"#$2-,-#.1$.,7$ "#7-#$'"$(-$#-%.+7$:<-,$ '"$2-'$&,.,4+,2$ .7=+,+*'#.'+9-$-6%-,*-*0$ %.3=-,'$/"#$'<-$.4'+9+'3$ not otherwise .11"4.(1-$'"$'<-$*%-4+&4$ +*$=.7-$'"$()*+,-**5$ .9.+1.(1-5 4",'#.4'D*E5 Q.,$(-$#-9"19+,2$"#$,"'5 5&)(2+0,$ Same as Basic For the direct expenses @.6+=)=$"/$'<#--$ K.=-$.*$I.*+4$JD.E5 K<"#'R'-#=$&,.,4+,2$'"$ N#"9+7-*$ ?@/()6+, JD.E5$N1)*0$()+17+,2\ related to the construction 3-.#*$'"$7+*()#*-$.,7$ ()+17$"#$#-,"9.'-$<"=-$ "%%"#'),+'3$/"#$ #-,"9.'+,2$#-*+7-,'+.1$ .,7\"#$]*)(*'.,'+.1^$ ()+17$"#$#-,"9.'-5$ "#$()+17+,2$/"#$*.1-$'"$ residential and or commercial #-,"9.'+",$4"*'*$"/$*%-4+&4$ U6'-,*+",$%"**+(1-$'"$ ),T,":,$'<+#7$%.#'35$ commercial *'#)4')#-$/"#$#-R*.1-$ residential or commercial .44"=="7.'-$*.1-5 ]K)(*'.,'+.1^$=-.,*$ ()+17-#*$'"$ without knowing ()+17+,2*$/"#$#-*.1-0$ #-<.(+1+'.'+",$-6%-,*-*$ 2-'$&,.,4+,2$ ()3-#$.'$'+=-$"/$ +,41)7+,2$1.("#0$*)%%1+-*0$ "/$="#-$'<.,$",-R'<+#7$ not otherwise .%%#"9.15 materials, equipment of the purchase price or .9.+1.(1-5 #-,'.10$7+#-4'$/--*5$[<-$ /.+#$=.#T-'$9.1)-$.'$'<-$ 4"*'$"/$1.,7$+*$%"'-,'+.113$ '+=-$"/$.%%1+4.'+",5$Q.,$ -1+2+(1-5 (-$#-9"19+,2$"#$,"'5

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 45 Program !"#$%&'()*+, -,+$#.$/0#1++2, Maturity Maximum Loan 340&14&0+ 5+6+*4,$4#$ Amount 5#00#7+0 Working K.=-$.*$I.*+4$JD.E5 !"#$*<"#'R'-#=$:"#T+,2$ BC$3-.#* K.=-$.*$I.*+4$JD.E5 Structured with N#"9+7-*$ Capital Borrower should capital and operating requirements for "%%"#'),+'3$/"#$ ?@/()6+, sell on credit and/ ,--7*0$+,41)7+,2$'"$&,.,4-$ %.3=-,'$"/$%#+,4+%.1$ ()*+,-**-*$'<.'$ "#$<.9-$+,9-,'"#3$ -6%"#'$*.1-*5$N#"4--7*$ '+-7$'"$'<-$()*+,-**-*$ sell on credit to needing immediate =)*'$,"'$(-$)*-7$'"$%.3$ 4"11-4'+",$"/$%.3=-,'*$ 2-'$#-9"19+,2$ replacement after delinquent withholding from their clientele &,.,4+,2$,"'$ '<-$*.1-5 taxes or similar trust funds otherwise D*'.'-$*.1-*$'.6-*0$-'45E$"#$ .9.+1.(1-5 /"#$_""#$%1.,,+,25 35@$>AB0+,,$ Businesses needing Working capital P/$#-9"19+,20$*-9-,R $350,000 K'#)4')#-$+*$-*'.(1+*<-7$ `.*$.9.+1.(+1+'3$ =+62+0$ a line of credit to 3-.#$=.6+=)=0$ (3$+,7+9+7).1$1-,7-#5$ for a line of credit 340&14&0+2$ conduct credit in the including term out V-,7-#$=)*'$<.9-$KIH$ '"$<-1%$:+'<$*<"#'R =#'6,$#0$ ZKH5 %-#+"75 U6%#-**$7-*+2,.'+", term cash needs =)6+,$#.$ "/$'<-$()*+,-**5 ?0+2)4 Export Businesses needing Working capital 70 percent P/$#-9"19+,20$*-9-,R $500,000 K'#)4')#-$+*$-*'.(1+*<-7$ `.*$.9.+1.(+1+'3$ >AB0+,,$ a line of credit to "/$:<+4<$+*$'"$(-$)*-7$ 3-.#$=.6+=)=0$ (3$+,7+9+7).1$1-,7-#5$ for a line of credit =+62+0$ support exporting to support exporting including term out V-,7-#$=)*'$<.9-$ '"$<-1%$:+'<$*<"#'R

CAPITAL 340&14&0+2$ .4'+9+'35 .4'+9+'+-*5 %-#+"75 U6%"#'$U6%#-**$ term cash needs =#'6,$#0$ designation "/$'<-$()*+,-**5 =)6+,$#.$ ?0+2)4 C#6D89':$/0#E0'F,

504 Loan !"#R%#"&'$()*+,-**-*$ ?",RJD.E$N#"2#.=* Based on the use of The SBA portion of V".,*$%.4T.2-7$(3$ V",2R'-#=$ Program that can meet For the acquisition of %#"4--7*5$[:-,'3$ '<-$&,.,4+,2$4.,$ Q-#'+&-7$a-9-1"%=-,'$ [#-.*)#3$&6-7$ the SBA’s size 1",2R'-#=$&6-7$.**-'*0$ 3-.#*$/"#$#-.1$ 2-,-#.113$(-$)%$'"$ Q"=%.,+-*$DQaQE$.,7$ rates that are standards, nature equipment with a useful -*'.'-5$[-,$3-.#*$ LG5C$=+11+",$()'$=.3$ 7-*+2,-7$'"$&,.,4-$ (-1":$=.#T-'0$ "/$()*+,-**0$)*-$ 1+/-$"/$.'$1-.*'$BC$3-.#*8$ /"#$=.4<+,-#3$.,7$ (-$)%$'"$LG5G$=+11+",$ up to 40 percent of 1":$("##":-#$ of proceeds, credit #-&,.,4-$1".,R'-#=$&6-7$ -;)+%=-,'5 for manufacturing .$]%#"b-4'^1 secured 4",'#+()'+",$",13$ elsewhere, and .**-'$7-('$),7-#$4-#'.+,$ ()*+,-**-*$"#$-,-#23$ with a 2nd position 10 to 20 percent, other miscellaneous conditions; working capital *.9+,2$%)(1+4$%"1+43$ 1+-,5$H,"'<-#$1".,$/#"=$ full amortization /.4'"#*5 under certain conditions; 2".1*5 .$'<+#7$%.#'3$1-,7-#$ with no call or '"$#-7)4-$-,-#23$ &,.,4+,2$)%$'"$GC$ (.11"",$4",7+'+",*5 consumption; and to percent of the same )%2#.7-$#-,-:.(1-$-,-#23$ project secured in 1st #-*")#4-*5 %"*+'+",0$.,7$("##":-#$ 4",'#+()'+",$"/$.'$1-.*'$ BC$%-#4-,'5$U6'#.$ 4",'#+()'+",*$/"#$*%-4+.1R purpose properties and ,-:$()*+,-**-*5 G)10#(#'6$ K.=-$.*$I.*+4$JD.E5$ K+=+1.#$'"$I.*+4$JD.E5$N1)*0$ Shortest term $50,000 to the small [<-$KIH$%#"9+7-*$.$ a+#-4'$1".,$ Program N1)*0$,",%#"&'$4<+17R *'.#'R)%$,",%#"&'$4<+17R %"**+(1-0$,"'$'"$ ()*+,-**$.'$.,3$ 1".,$'"$.$,",%#"&'$ /#"=$,",%#"&'$ 4.#-$()*+,-**-*5 4.#-$()*+,-**-* -64--7$*+6$3-.#*5 2+9-,$'+=-5 =+4#"R1-,7-#$4.11-7$.,$ +,'-#=-7+.#3$ ]+,'-#=-7+.#3^$:<"$)*-*$ 1-,7-#0$&6-7R#.'-$ the proceeds to make &,.,4+,20$4.,$ microloans to small (-$9-#3$*=.11$ ()*+,-**-*5$[-4<,+4.1$ loan amounts, .**+*'.,4-$4.,$.1*"$(-$ and technical %#"9+7-75 assistance is .9.+1.(1-5

1$ ]N#"b-4'^$+*$'<-$%)#4<.*-$"#$1-.*-0$.,7\"#$+=%#"9-=-,'$"#$#-,"9.'+",$"/$1",2R'-#=$&6-7$.**-'*$(3$.$*=.11$()*+,-**0$:+'<$GCS$&,.,4+,20$/"#$)*-$+,$+'*$()*+,-** $ "%-#.'+",*5

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

46 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma Lender’s Programs Chart Ways lenders can request guarantees (Information current as of 03/03/2015)

Program !")1"$=+62+0,$ ()E)I)()4H$@6'(H,), ?0+2)4$@6'(H,), Maximum Loan /0#1+,,)6E %&'().H 1'6$I+$J&'0'64++2 ;64+0+,4$K'4+, Amount 34'62'02$ V-,7-#*$'<.'$ I.*+4$JD.E5$P,'-#,.'+",.1$ Base rate is Wall V-,7-#$4"=%1-'-*$ V-,7-#$'"$4"9-#$.11$ @.6+=)=$1".,$ /0#1+,,)6E <.9-$.,$-6-4)'-7$ [#.7-0$U6%"#'$c"#T+,2$ Street Journal prime, -1+2+(+1+'3$ aspects of prudent credit LG$=+11+",5$V".,*$ participation Q.%+'.10$.11$QHN1+,-*5 "#$VPIdef$",-$=",'<$ questionnaire .,.13*+*$:+'<$-=%<.*+*$ up to $150,000 agreement with the rate plus 3 percent, or .,7$KIH$#-9+-:*$ ",$.%%1+4.,'>*$.(+1+'3$ guaranteed up to KIH5 KIH$N-2$#.'-5$/(&,, an -1+2+(+1+'3$7)#+,2$1".,$ '"$#-%.3$1".,$/#"=$ 85 percent; loans .11":.(1-$*%#-.7$/#"=$ %#"4-**+,25 "%-#.'+",5$KIH$4",7)4'*$ "9-#$LBGC0CCC$ F5FG$'"$F5JG$%-#4-,'$ .,.13*+*$"/$1-,7-#>*$ guaranteed up (.*-7$",$'-#=5$V-,7-#$ .,.13*+*5 '"$JG$%-#4-,'5$ can add 2 percent if Business with loan is $25,000 or less, multiple SBA and 1 percent if loan is 1".,*$=.3$2-'$ LFG0CCB$'"$LGC0CCC5$Q.,$ *"=-$9.#+.'+",*5 (-$&6-7$"#$9.#+.(1-5

?+04)*+2$ Same as Standard Same as Standard 7(a) K.=-$.*$K'.,7.#7$JD.E5 Same as Standard Same as Standard 7(a) @.6+=)=$1"., CAPITAL =+62+0$ JD.E5$N1)*0$.,$ processing except no JD.E5 -64-%'$KIH$#-9+-:*$ LG$=+11+",5$ Program -6-4)'-7$QVN$ %"1+43$-64-%'+",*5 1-,7-#>*$.,.13*+*$:"#T0$ Y).#.,'3$ 9?=/:$ .2#--=-,'5 ,"'$.$#-R.,.13*+*5 percentage same /0#1+,,)6E .*$K'.,7.#7$JD.E5 /0+.+00+2$ Same as Standard Same as Standard K.=-$.*$K'.,7.#7$JD.E5 V-,7-#$4"=%1-'-*$ a-1-2.'-7$'"$1-,7-#5 @.6+=)=$1"., =+62+0$ JD.E5$N1)*0$.,$ processing except U1+2+(+1+'3$H,.13*+*5 LG$=+11+",5$ Program -6-4)'-7$NVN$ restrictions on loans Y).#.,'3$ 9/=/:$ .2#--=-,'5 +,9"19+,2$*"=-$'3%-*$"/$ percentage same /0#1+,,)6E 7-('$#-&,.,4+,25$ .*$K'.,7.#7$JD.E5 35@$>AB0+,,$ Same as Standard Basic 7(a) with If $50,000 or less, V-,7-#$4"=%1-'-*$ a-1-2.'-7$'"$1-,7-#5 @.6+=)=$1".,$ /0#1+,,)6E JD.E5$N1)*0$.,$ restrictions on cannot exceed prime SBA Form LMGC0CCC5$ executed SBA *"=-$'3%-*$"/$7-('$ g$h5G$%-#4-,'5$P/$"9-#$ BWFC$]U1+2+(+1+'3$ Y).#.,'3$ U6%#-**$.2#--=-,'5 #-&,.,4+,25$N1)*0$1-,7-#$ $50,000, cannot exceed P,/"#=.'+",5^ percentage structured term and %#+=-$g$S5G$%-#4-,'5$ GC$%-#4-,'5 #-9"19+,2$1".,*5 N#+=-$=.3$(-$1-,7-#$ %#+=-5 Export Same as Standard Similar to export If $50,000 or less, V-,7-#$4"=%1-'-*$ a-1-2.'-7$'"$1-,7-#5 @.6+=)=$1".,$ >AB0+,,$ JD.E5$N1)*0$.,$ working capital loan cannot exceed prime SBA Form LGCC0CCC5$ /0#1+,,)6E -6-4)'-7$U6%"#'$ and international trade g$h5G$%-#4-,'5$P/$"9-#$ BWFC$]U1+2+(+1+'3$ Y).#.,'3$ U6%#-**$.2#--=-,'5 loans which meet export $50,000, cannot exceed P,/"#=.'+",5^ percentage range #-1.'-7$-1+2+(+1+'3$4#+'-#+.5 %#+=-$g$S5G$%-#4-,'5$ (-':--,$JG$.,7$ N#+=-$=.3$(-$1-,7-#$ WC$%-#4-,'5 %#+=-5 Community V-,7-#*$'<.'$<.9-$.,$ Basic 7(a) except N#+=-$g$h$%-#4-,'5 V-,7-#*$4"=%1-'-$ Similar to Standard 7(a) @.6+=)=$1".,$ @2L'64'E+ -6-4)'-7$Q"==),+'3$ restrictions on some KIH$!"#=$BWFC except credit factors LFGC0CCC5$ H79.,'.2-$ '3%-*$"/$#-&,.,4+,25 ]U1+2+(+1+'3$ to consider are more Y).#.,'3$ .2#--=-,'5 P,/"#=.'+",5^ 7-&,-75 percentage same .*$K'.,7.#7$JD.E5 i$V",7",$P,'-#I.,T$d//-#-7$e.'-

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

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 47 CONTRACTING Applying for Government Contracts

The U.S. government is the largest works directly with individual Federal Types of Contracts single purchaser of goods and services !"2$%,'31*+&#'(%)'.(5,&'!"#$%&##' Fixed­price contracts place the full in the world, buying everything from government contractors to identify responsibility for the costs and risk of armored vehicles and cutting­edge contracting opportunities for small loss on the contractor, and generally #+$&%6$*+'5&#&(5+=7'63'-(-&5'+.$-#'(%)' businesses. do not permit any adjustment on the super computers. Every year, the basis of the contractor’s costs during the federal government awards more HOW GOVERNMENT performance of the contract. It provides than $500 billion in contracts, and a maximum incentive for the contractor #$,%$*+(%6'#=(5&'31'6=3#&'+3%65(+6#'(5&' CONTRACTING WORKS to control costs and perform effectively 8()&'#-&+$*+(..2'(Q($.(!.&'135'(>(5)'63' Sealed bidding vs. Negotiation and imposes a minimum administrative small businesses. There are two primary competitive burden upon the contracting parties. The Small Business Administration contracting methods the government This type of contract is used in all CONTRACTING works with agencies to award at least uses to purchase goods and services, sealed bid and some negotiated 23 percent of all prime government #&(.&)'!$))$%,'(%)'%&,36$(6$3%/':=&'*5#6' procurements. contracts to small businesses, including method, sealed bidding, involves the Cost reimbursement contracts #-&+$*+'#6(6"6352',3(.#'135'#8(..' issuance of an invitation for bid (IFB) provide for the payment of allowable disadvantaged businesses (SDB) – 5%, by a procuring agency. Under the sealed costs incurred by the contractor plus businesses that are women­owned bidding method, a contract is awarded ('5&(#3%(!.&'-53*67'63'6=&'&S6&%6' (WOSB) – 5% or service­disabled to the responsive and responsible bidder stated in the contract. The contract veteran­owned (SDVOSB) – 3%, whose bid, conforms to the requirements establishes a ceiling price, above which and businesses that are located in of a solicitation (IFB) that will be most a contractor may not exceed without the historically underutilized business zones advantageous to the government, (--53Q(.'31'6=&'+3%65(+6$%,'31*+&5/'I3#6' fklOm3%&'*58#c'n'DX/ considering only price and the price­ reimbursement contracts are commonly The agency ensures that small related factors included in the IFB. The used in research and development businesses have access to long­lasting second method, negotiation, involves contracts. development opportunities, which issuing a request for proposal (RFP) ' H38&'+3%65(+6#')3'%36'*6'%&(6.2'$%63' means working with small businesses or request for quotation (RFQ). The these two categories, such as time and to help them to become and remain business with the best proposal in terms material contracts (prices for hourly competitive, as well as encouraging of technical content, best value, price wages are established but the hours are federal agencies to award more and other factors generally is awarded estimated), and although rarely used, contracts to small businesses. The SBA the contract. letter contracts, which authorizes a performs an advocacy function for small contractor to begin work on an urgent businesses through outreach programs, requirement before all terms and matchmaking events, and online +3%)$6$3%#'(5&'*%(.$V&)/ training opportunities. The agency

48 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma Small Business Set-Asides product of any size concern regardless prime contractors. Experience gained A “set­aside” for small businesses of the place of manufacture (but from subcontracting with a federal reserves an acquisition exclusively other laws such as the Buy American prime contractor can better prepare for small business competition. This Act or Trade Agreements Act may businesses to bid for prime contracts. includes requirements competed among apply). For service and construction Current regulations stipulate that klOm3%&'I&56$*&)'H8(..'O"#$%&##' requirements, the small business must for contracts offering subcontracting HOR'@f(c'I&56$*&)'#8(..'!"#$%&##' perform set percentages of the work opportunities with values over Service­Disabled Veteran­Owned with its own employees (Limitations $700,000 for goods and services, or $1.5 small businesses, and Economically on Subcontracting), on set­aside million for construction must offer the Disadvantaged/Women­Owned small requirements. maximum practicable subcontracting !"#$%&##&#'$%'#-&+$*+'$%)"#65$&#/'' opportunities to small businesses. Generally, set asides are appropriate, Sole Source In addition, potential large business or in some cases required, if the Although competition is the preferred prime contractors must submit a +3%65(+6$%,'31*+&5'=(#'('5&(#3%(!.&' means of contracting, the SBA’s 8(a) subcontracting plan with their proposal expectation of receiving two or more Business Development Program (FAR describing how they will successfully offers from responsible concerns and subpart 19.8), HUBZone (subpart maximize subcontracting opportunities award can be made at fair market 19.13), Service Disabled Veteran­Owned to small businesses. prices. Some programs also have Business (subpart 19.14) and Woman­ ' :3'*%)'#"!+3%65(+6$%,'3--356"%$6$' authority for sole awards (awards Owned Small Business Programs a list of federal prime solicitations is with competition) depending on the (subpart 19.15) each have provisions listed under the U.S. Small Business circumstances. allowing for sole­source awards, when Administration Subcontracting Network There are two ways in which set­ (--.$+(!.&/'R'+3%65(+6$%,'31*+&5'8"#6' (SUBNET) web.sba.gov/subnet/search/ asides can be determined. First, if an ,$Q&'&N"(.'+3%#$)&5(6$3%'63'*58#'$%'&(+=' index.cfm and through the General acquisition of goods or services has of these Programs when considering an Services Administration (GSA) at an anticipated dollar value above award. www.gsa.gov/portal/content/101195. $3,500 (micropurchase threshold), but Research the list of prime contractors %36'&S+&&)$%,'gUGA7AAA'f#$8-.$*&)' Subcontracting and determine which are best suited acquisition threshold (SAT), it is Subcontracting opportunities are a to your business. Develop a marketing automatically reserved for small great opportunity for small businesses, strategy, and then contact the Small businesses. The acquisition will be especially for those not ready to bid as O"#$%&##'d$($#3%'J1*+&5'fHOdJc' set aside above the SAT only if the +3%65(+6$%,'31*+&5')&6&58$%&#'6=&5&' are two or more responsible small businesses that are competitive in terms of price, quality, and delivery, and an award can be made at a fair CONTRACTING market price. Reasonable expectations of small business competition are based on market research including an evaluation of past acquisition history for an item or similar items. As part of 8(59&6'5&#&(5+=7'+3%65(+6$%,'31*+&5#' may publish Sources Sought notices on the Federal Business Opportunities (FBO; www.fbo.gov) website seeking *58#'135'"-+38$%,'3--356"%$6$&#/'O&' sure to respond to these notices so you can be solicited for the requirements. There are several exceptions and "%$N"&'5".&#'135'#-&+$*+'9$%)#'31'#8(..' businesses and industries, so you should become familiar with the rules, which are contained in the Federal Acquisition Regulation (FAR). For small business set­asides for manufactured items, any business proposing to furnish a product that it did not manufacture must furnish the product of a small business manufacturer unless the SBA has granted either a waiver or exception to this requirement, referred to as the Non­manufacturer rule. In industries >=&5&'6=&'HOR'*%)#'6=(6'6=&5&'(5&'%3' small business manufacturers, it may issue a waiver to the non­manufacturer rule. Waivers permit small businesses dealers or distributors to provide the

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 49 listed for each prime to schedule an appointment. The SBA has a cadre of Commercial Market Representatives WHAT YOU SHOULD KNOW (CMRs) who work closely with large prime contractors to maximize use of ABOUT YOUR BUSINESS small businesses as subcontractors. They can also assist small businesses To be eligible to bid on a federal 3. Do you fall under a specific >$6='#"!+3%65(+6$%,'8(66&5#/':3'*%)'(' contract, you must know your certification? CMR, go to: https://www.sba.gov/content/ business. Answer the following three Under the umbrella of “small cmr-directory. questions: business,” SBA has outlined several #-&+$*+'+&56$*+(6$3%#'6=(6'!"#$%&##&#' 1. Are you a small business? 8(2'1(..'"%)&5/':=&#&'+&56$*+(6$3%#' SBA CONTRACTING Is your small business: are divided into two categories: ;'' J5,(%$V&)'135'-53*6o PROGRAMS • Located in the U.S.? SBA-Certified and Self-Certified. • Operated primarily within the ' :=&'HORBI&56$*&)'_53,5(8#'>&5&' HUBZONE l/H/'35'8(9$%,'('#$,%$*+(%6' +5&(6&)'63'(##$#6'#-&+$*+'!"#$%&##&#' contribution to the U.S. economy The Historically Underutilized in securing federal contracts and through payment of taxes or use of therefore can only be issued by SBA Business Zones (HUBZone) program American products, materials, or helps small businesses located in ()8$%$#65(635#/'[35'6=&'H&.1BI&56$*&)' labor? Programs, you can determine for distressed urban and rural communities • Independently owned and yourself if your business meets the gain access to federal set­aside contracts operated? requirements by referring to the and sole source contracts, as well as a ;'' Z36')38$%(%6'$%'6=&'*&.)'31' price evaluation preference in full and operation in which it is bidding for Federal Acquisition Regulation (FAR). open contract competitions. Federal government contracts? Just as Congress has given federal agencies have a goal of awarding 3 • A sole proprietorship, partnership, agencies a goal of procuring 23 percent of the total value of all prime corporation, or any other legal percent of federal contracts from contract and subcontract awards form? small businesses, so too must federal to small businesses that SBA has ' 01'6=&'*5#6'#$S'+5$6&5$('(--.2'63'23"5' (,&%+$&#'8&&6'#-&+$*+'+3%65(+6$%,' +&56$*&)'(#'klOm3%&/':=&'.$#6'31' business, ask yourself the second goals for other categories of small HUBZone small business can be located $8-356(%6'N"$3%'63'*%)'3"6'$1' *58#/':=&#&',3(.#'(5&h at http://dsbs.sba.gov/dsbs/search/ your business meets size standard • 23 percent of contracts for Small dsp_searchhubzone.cfm. To qualify for requirements. Businesses the program, a business (except those • 5 percent of contracts to Small that are tribally­owned) must meet the 2. What is the size standard for your Disadvantaged Businesses following criteria: business? • 5 percent to Women­Owned Small • Small Business by SBA size Size standards are used to Businesses standards determine whether a business is small • 3 percent to Service­Disabled • Owned and controlled at least or “other than small.” Size standards Veteran­Owned Small Businesses 51 percent by U.S. citizens, or vary depending upon the industry. • 3 percent to HUBZone Small a Community Development To determine the size standard for Businesses Corporation (CDC), an agricultural your business, you will need a North Federal agencies have a strong cooperative, or an Indian tribe R8&5$+(%'0%)"#652'I.(##$*+(6$3%'+3)&' $%+&%6$Q&'63'1".*..'6=&#&'+3%65(+6$%,' ;'' _5$%+$-(.'31*+&'8"#6'!&'.3+(6&)' (NAICS). Every federal agency uses goals. You should apply for those CONTRACTING within a “Historically Underutilized these codes when considering your HORBI&56$*&)'(%)')&6&58$%&'>=$+=' Business Zone,” which includes business. To determine your NAICS H&.1BI&56$*+(6$3%'-53,5(8#'135'>=$+=' lands considered “Indian Country” code, go to www.census.gov/eos/www/naics/. you qualify to take advantage of and military facilities closed by the Some SBA programs require their contracting opportunities. Base Realignment and Closure Act 3>%'"%$N"&'#$V&'#6(%)(5)#/':3'*%)'3"6' • At least 35 percent of its employees more about these requirements and must reside in a HUBZone. other size standard information, go to B(%"2 Different rules apply for www.sba.gov/size. Tribal Governments, Alaska Native Corporations, Community Development 180 days, or as a currently registered • Adjudicating protests and appeals Corporations and small agricultural voter, and with intent to live there of eligibility to receive HUBZone cooperatives. These are delineated $%)&*%$6&.2/' contracts. in Title 13 of the Code of Federal The SBA is responsible for: For additional information, visit Regulations, Part 126. • Determining whether or not www.sba.gov/hubzone. Existing businesses that choose to (--.$+(%6#'(5&'N"(.$*&)'klOm3%&' 83Q&'63'N"(.$*&)'(5&(#'(5&'&.$,$!.&'63' small business concerns; (--.2'135'+&56$*+(6$3%'-53Q$)&)'6=&2' ;'' <($%6($%$%,'('.$#6'31'N"(.$*&)' 8(a) BUSINESS DEVELOPMENT meet all the eligibility requirements. To HUBZone small business concerns PROGRAM 1".*..'6=&'5&N"$5&8&%6'6=(6'DG'-&5+&%6' for use by acquisition agencies The 8(a) program is an essential 31'('klOm3%&'*584#'&8-.32&&#'5&#$)&' in awarding contracts under the instrument for helping socially in a HUBZone, employees must live in a program; and economically disadvantaged primary residence at a place for at least entrepreneurs gain access to the

50 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma economic mainstream of American in the free­enterprise system has been society. The 9­year program helps impaired due to diminished capital thousands of aspiring entrepreneurs and credit opportunities as compared gain a foothold in government to others in the same or similar contracting. The program offers line of business who are not socially business development assistance that disadvantaged. Such individuals have includes one­on­one training and a net worth of less than $250,000 counseling, training workshops, match­ (excluding primary residence and other exclusions). making opportunities with federal Firms owned by Alaska Native buyers and other management and Corporations, Indian tribes, Native technical guidance. 8(a) participants Hawaiian organizations, and can receive sole­source contracts, up Community Development Corporations to a ceiling of $4 million for goods can also apply to the SBA for 8(a) and services and $6.5 million for business development assistance. manufacturing. While we help 8(a) L%6$62'3>%&)'*58#'8(2'5&+&$Q&' participants build their competitive sole source contracts without dollar and institutional know­how, we also limitation. encourage them to participate in ' L(+='@f(c'*58'$#'(##$,%&)'('O"#$%&##' competitive acquisitions to become Opportunity Specialist at the nearest Q$(!.&'*58#'6=(6'+3%6$%"&'63',53>'(16&5' HOR'P$#65$+6'J1*+&',&3,5(-=$+(..2'%&(5' graduating from the program. There 6=&'!"#$%&##'63'+335)$%(6&'6=&'*584#' is a statutory requirement that small business development assistance. disadvantaged business concerns be In addition, 8(a) participants may awarded not less than 5 percent of the take advantage of specialized business total value of all prime contract awards. training, counseling, marketing assistance, and high­level executive R..'@f(c'*58#''(5&'+3%#$)&5&)'#8(..' development provided by the SBA and disadvantaged business concerns for the our resource partners. 8(a) participants purpose of federal contracting. can also be eligible for assistance in To be eligible for the 8(a) Business obtaining access to surplus government Development program, a business must property and supplies, SBA­guaranteed meet the following criteria: loans, and bonding assistance. • Small Business in the Primary For additional information about NAICS; applying for the SBA’s 8(a) Program, • Owned (at least 51 percent) by one visit www.sba.gov/8a. or more individuals who qualify CONTRACTING as socially and economically disadvantaged, and who are U.S. SMALL DISADVANTAGED citizens of good character; BUSINESS • Controlled, managed, and operated A Small Disadvantaged Business full­time by one or more individuals fHPOc'$#')&*%&)'(#'('#8(..'!"#$%&##' who qualify as disadvantaged, and; that is at least 51 percent owned and • Must demonstrate potential for controlled by one or more individuals success (generally by being in who are socially and economically business for at least two full years) disadvantaged. and have the capacity to perform on government and non­government There is a federal government­wide contracts before applying. goal of awarding at least 5 percent of Socially disadvantaged individuals prime contracting dollars to SDBs each are those who have been subjected to year. Large prime contractors must also racial or ethnic prejudice or cultural establish a 5 percent subcontracting bias because of their identity as a goal for SDBs in their subcontracting member of a group without regard -.(%#'>=$+='$%+.")&#'HOR'@f(c'+&56$*&)' to their individual capabilities. The small businesses. following individuals are automatically Firms self­certify as SDB in the presumed to be socially disadvantaged: federal data base called the System for Black Americans, Native Americans, Award Management (SAM) without Alaska Natives or Native Hawaiians, submitting any application to the SBA; k$#-(%$+'R8&5$+(%#7'R#$(%'_(+$*+' =3>&Q&57'*58#'(--53Q&)'!2'6=&'HOR' Americans, and Subcontinent Asian into the 8(a) Business Development Americans. An individual who is not _53,5(8'(5&'("638(6$+(..2'+&56$*&)'(#' a member of one of these groups must (%'HPO/':3'#&.1B+&56$127'*58#'#=3".)' establish individual social disadvantage by a preponderance of evidence. access the website: www.sba.gov/sdb. Economically disadvantaged By reading the information contained individuals are socially disadvantaged therein you will be given guidance as to individuals whose ability to compete what steps are required.

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 51 SERVICE­DISABLED VETERAN­ An SDVO SBC must be owned and controlled by one or more individuals OWNED SMALL BUSINESS with a service connected disability. To The Service­Disabled Veteran­ determine your eligibility, contact your Owned Small Business (SDVOSB) local veterans’ business development program has a federal government­wide 31*+&57'Q$#$6'6=&'Q(5$3"#'-53,5(8' goal of awarding at least 3 percent >&!#$6'35'+3%6(+6'HOR4#'J1*+&'31' of prime and subcontracting dollars Veterans Business Development at to Service­Disabled Veteran­Owned www.sba.gov/about-offices-content/1/2985. Small Businesses each year. Large prime contractors must also establish a subcontracting goal for SDVOSBs WOMEN­OWNED in their subcontracting plans. These SMALL BUSINESS subcontracting goals are reviewed at time of proposal by both the contracting FEDERAL CONTRACT PROGRAM 31*+&5'(%)'6=&'HOR'-5$35'63'6=&'(>(5)' On October 7, 2010, the SBA of a contract. -"!.$#=&)'('*%(.'5".&'&11&+6$Q&' While the SBA does not certify February 4, 2011, aimed at expanding companies as SDVOSBs, SDVOSB federal contracting opportunities protest process is administered by for women­owned small businesses. SBA to ensure that only businesses The Women­Owned Small Business owned by service­disabled veterans (WOSB) Federal Contract Program receive contracts reserved exclusively ("6=35$V&#'+3%65(+6$%,'31*+&5#'63'#&6' for them. When a business’s SDVOSB aside certain federal contracts for #&.1B+&56$*+(6$3%'$#'+=(..&%,&)7'6=&' eligible women­owned businesses and SBA determines if the business meets economically disadvantaged women­ the status, ownership and control owned small businesses (EDWOSB) requirements. $%'#-&+$*&)'$%)"#65$&#'>=&5&'$6'=(#'!&' determined WOSBs and EDWOSBs are underrepresented. Commencing October 14, 2015, certain contract requirements can be awarded on a sole­source basis to WOSB and EDWOSB concerns in those #-&+$*&)'$%)"#652'+(6&,35$&#/''' ' :3'!&'&.$,$!.&7'('*58'8"#6'!&'(6'.&(#6' 51 percent owned or controlled by one or more women. The women must be U.S. citizens and the WOSB or EDWOSB must be “small” under its primary industry in accordance with SBA’s size standards established for under the Z356='R8&5$+(%'0%)"#652'I.(##$*+(6$3%'

CONTRACTING code assigned to that industry. To be deemed “economically disadvantaged” its owners must demonstrate economic disadvantage in accordance with the 5&N"$5&8&%6#'#&6'1356='$%'6=&'*%(.' rule. For additional information, visit www.sba.gov/wosb. Protests under the WOSB Federal Contract Program are also adjudicated by the SBA. When a company’s WOSB or economically disadvantaged WOSB #&.1B+&56$*+(6$3%'$#'+=(..&%,&)7'6=&' SBA determines if the business meets ownership and control requirements. Large prime contractors must also establish a subcontracting goal for Woman­Owned Small Businesses in their Subcontracting Plans. These subcontracting goals are reviewed at time of proposal by both the contracting 31*+&5'(%)'6=&'HOR'-5$35'63'6=&'(>(5)' of a contract.

52 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma GETTING STARTED IN CONTRACTING ''J%+&'23"'=(Q&'$)&%6$*&)'6=&'$8-356(%6' • You should identify the PSC (Product information regarding your business, it is Services Code) and/or a FSC (Federal time to start the process of procuring a H"--.2'I.(##$*+(6$3%c7'>=$+=')&#+5$!&#' government contract. your business. These codes provide 1. Identify your DUNS (Data Universal additional information about the Numbering System) Number services and products your business To register your business, obtain a offers. DUNS number used to identify and 9. Procurement Technical Assistance track millions of businesses. You can Centers (PTACs) obtain your free DUNS number when Doing business with the government is a registering with the System for Award big step to growing your business. Management. Log on to www.sam.com for Procurement Technical Assistance Centers more information or by contacting (PTACs) provide local, in­person Dun & Bradstreet at http://fedgov.dnb.com/ counseling and training services for you, webform . the small business owner. They are 2. Identify your EIN designed to provide technical assistance (Employer Identification Number) to businesses that want to sell products An EIN, otherwise known as a federal and services to federal, state, and/or 6(S'$)&%6$*+(6$3%'%"8!&57'$#',&%&5(..2' local governments. PTAC services are required of all businesses. For more available either free of charge, or at a information, go to www.irs.gov. nominal cost. PTACs are part of the 3. Identify your NAICS (North American Procurement Technical Assistance Industry Classification) codes Program, which is administered by the The NAICS codes are used to classify the Defense Logistics Agency. industry a particular business occupies. What can a PTAC do for you? You will need at least one NAICS code • Determine if your business is ready for to complete your registration, but be sure government contracting. to list as many as apply. You may also add • Pursuing government contracts is or change NAICS codes at any time. Visit a challenge, and can be burden for www.census.gov/eos/www/naics/'63'*%)' your company if you do not have the NAICS codes. resources or maturity to handle a 4. Register with the System for Award contract. A PTAC representative can Management (SAM), formerly the Central opportunity for contracts across all levels sit with you one­on­one and determine Contractor Registration (CCR) - of government. Businesses interested in if your company is ready, and how to www.sam.gov becoming GSA schedule contractors position yourself for success. The SAM is an online federal government should review the information available at • Help you register in the proper places. maintained database of companies www.gsa.gov/schedules. There are numerous databases to wanting to do business with the federal register with to get involved with the 6. Make Sure Your Business is Financially CONTRACTING government. Agencies search the database government marketplace, including for prospective vendors. You must be Sound This critical step is absolutely necessary the Department of Defense’s System registered in SAM in order to do business for Award Management (SAM), GSA as a Federal contractor. to make sure that your business is *%(%+$(..2'-5&-(5&)'135'6=&'M3"5%&2' Schedules, and other government Register at www.SAM.gov. After vendor sites. completing registration, you will be ahead. Even if you are able to obtain a government contract, you will not be • See if you are eligible in any small asked to enter your small business !"#$%&##'+&56$*+(6$3%#/'H38&' -53*.&'$%1358(6$3%'6=53",='6=&'HOR' receiving all of the money at once. It helps to have a clear plan of how your government contracts are set aside for Supplemental Page. The information will certain businesses that have special be displayed in the Dynamic Small !"#$%&##'>$..'#6(,&'6=&'!&%&*6#'31'6=&' contract. +&56$*+(6$3%#7'#"+='(#'>38(%B3>%&)7' O"#$%&##'H&(5+=/'I5&(6$%,'('-53*.&'$%' minority­owned, and HUBZone. A SAM and keeping it current ensures your 7. Search Federal Business Opportunities (FedBizOpps) for Contracting PTAC representative can help you *58'=(#'(++&##'63'1&)&5(.'+3%65(+6$%,' 3!6($%'6=&#&'+&56$*+(6$3%#7'$1'23"'(5&' opportunities. Opportunities eligible, allowing for more government L%6&5$%,'23"5'#8(..'!"#$%&##'-53*.&7' FedBizOpps, is an online service contract opportunities. including your business information and operated by the federal government • Research past contract opportunities. key word description, allows contracting that announces available business 31*+&5#7'-5$8&'+3%65(+635#7'(%)'!"2&5#' opportunities. FedBizOpps helps identify A PTAC representative can look into from state and local governments to learn the needs of federal agencies and available past contracts, to see what types about your company. contracting opportunities. To begin of contracts have been awarded to businesses like yours. 5. Submit an offer for a GSA Schedule searching for contracting opportunities, go In addition, a PTAC can help you identify Contract to www.fbo.gov. The GSA (General Services Administration) 8. Marketing Your Business and bid on a contract, and if you are Multiple Award Schedule (aka Federal Registering your business is not enough awarded the contract, continue to provide Supply Schedule) is used by GSA to to obtain a federal contract; you will need you support through measuring your establish long­term, government­wide to market your business to attract federal performance and helping with your +3%65(+6#'>$6='+388&5+$(.'*58#/''R.6=3",=' agencies. Tips for good marketing are: +3%65(+6'(")$6#/'P3%46'=&#$6(6&'63'*%)'6=&' their use is not generally mandatory, • Determine which federal agencies PTAC near you today to get started in 8(%2'R,&%+$&#'(%)'!"2$%,'31*+&#'"#&']HR' buy your product or service, and government contracting or to improve schedules for their contracting needs. get to know them; your success. Once these contracts are established, • Identify the contracting government agencies can order the procedures of those agencies; supplies and services they need directly • Focus on opportunities in your 1538'6=&'*58#'6=53",='6=&'"#&'31'(%' niche and prioritize them. online shopping tool. Becoming a GSA schedule contractor increases your

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 53 ADDITIONAL PROCUREMENT AND FEDERAL RESOURCES

The following federal procurement ­ Forestry (ISF) located in Atlanta, GA; and help with travel, accommodations, resources may also be of assistance: Denver, CO; and Portland, OR. The ISF’s interpreter service, and clerical support • The Certificates of Competency (CoC) monitor the 148 market areas that make­up Trade Missions program allows SBA to review a contracting the national parks, forests, and Federally­ o Participate in overseas trips with U.S. 31*+&54#'%3%B5&#-3%#$!$.$62')&6&58$%(6$3%' owned lands. Timber is regularly sold from government personnel to meet with potential 6=(6'$6'$#'"%(!.&'63'1".*..'6=&'5&N"$5&8&%6#' Federal forests and other federally managed business partners and explore potential 31'('#-&+$*+',3Q&5%8&%6'+3%65(+6/':=&' lands. SBA works with the Forest Service market opportunities SBA will conduct a detailed review of the and other agencies to ensure opportunities Foreign Buyer Delegations *584#'6&+=%$+(.'(%)'*%(%+$(.'+(-(!$.$6$&#' exist for small businesses to bid on these o Exhibit your products to vetted potential to perform on the contract. If the business Federal timber sales. foreign buyers at trade shows in the United demonstrates the capability to perform, the States HOR'$##"&#'('I&56$*+(6&'31'I38-&6&%+2'63' Major Foreign Trade Shows 6=&'+3%65(+6$%,'31*+&57'5&N"$5$%,'(>(5)'31' U.S. EXPORT RESOURCES o Showcase your products and services in U.S. that contract to the small business. AVAILABLE FOR BUSINESSES pavilions at overseas trade shows • Procurement Center Representatives (PCR) Reverse Trade Missions and Commercial Marketing Representatives MARKET RESEARCH o Meet foreign delegates coming to see U.S. (CMR): PCRs work to increase the small Trade Statistics products and technologies. business share of federal procurement o Trade Stats Express | tse.export.gov o The U.S. Trade and Development Agency awards. CMRs offer many services to small o State and Metro Export Reports connects international buyers with U.S. businesses, including counseling on how to www.trade.gov/mas/ian/statereports manufacturers and service providers in 3!6($%'#"!+3%65(+6#/':3'*%)'('_IK'35'I5$66&%'!2'3"5'I388&5+$(.'H&5Q$+&'31*+&5#' o The Advocacy Center coordinates U.S. Centers: Like PTACs, SBDCs are important in country government efforts to advocate on behalf SBA Resource Partners which provide www.export.gov/mrktresearch of U.S. exporters bidding on public­sector “hands­on” assistance to small businesses. FTA Tariff Tool contracts with foreign governments and :3'*%)'(%'HOPI'#&5Q$+$%,'23"5'(5&(7',3'63h' o Find out the tariffs with our trading government agencies http://americassbdc.org/home/find-your-sbdc/. -(56%&5#'3%'#-&+$*+'-53)"+6#'(%)'+5&(6&' www.export.gov/advocacy • Department of Defense (The DoD is the reports and charts of trends under different Agricultural products largest purchaser of goods from small agreements o The U.S. Department of Agriculture provides businesses): www.export.gov/ftatarrifftool several of the aforementioned services www.acq.osd.mil/osbp/ A Basic Guide to Exporting through the Foreign Agricultural Service • Office of Federal Procurement Policy: :::5 o The nuts­and­bolts information a company and partner State­Regional Trade Groups | :<+'-<")*-52"9\"=(\%#"4)#-=-,'j7-/.)1' needs to meet the challenges of the global www.fas.usda.gov/getting-started and • Acquisition Forecast: economy. Includes real­life principles of www.fas.usda.gov/programs/market-access- :::5.4;)+*+'+",52"9\4"=%\%#"4)#-=-,' exporting program-map/state-regional-trade-groups $$j/"#-4.*'*\+,7-65<'=1 www.export.gov/basicguide • Federal Supply Schedule (FSS): FEDERAL EXPORT FINANCING AND :::52*.52"9 OPPORTUNITIES: FINDING BUYERS INSURANCE OPTIONS • Federal Procurement Data System (FPDS): AND MAKING CONTACTS Export Financing and Insurance <''%*A\\:::5/%7*52"9\/%7*,2j4=*\+,7-65%<%\-,\ 3''[&)&5(.'&S-356'*%(%+$%,'3-6$3%#'+(%'8(9&' • :::5 U.S. Export Assistance Centers GSA Center for Acquisition Excellence: o Located in over 100 cities , specializing the your company more competitive by helping 2*.52"9\%"#'.1\4",'-,'\BCMSkJ below services to help small businesses you offer a potential buyer more attractive • The U. Natural Resources Sales Assistance export payment terms S. Small Business Administration (SBA) www.export.gov/eac/index.asp The Small Business Administration (SBA)

CONTRACTING administers a Property Sales Assistance Trade Counseling 3'':(9&'()Q(%6(,&'31'('>$)&'5(%,&'31'*%(%+$%,' _53,5(8'6=53",='$6#'J1*+&'31']3Q&5%8&%6' 3''P&Q&.3-'('8(59&6'&%652'#65(6&,27'*%)'6=&' options for small businesses, including the Contracting. The Program includes; Royalty !'&S-356'*%(%+&'3-6$3%#7'%(Q$,(6&'&S-356' Export Express Program, Export Working Oil, Strategic Materials from the National controls and complete the required trade Capital Program, and International Trade Stockpile, Leases involving rights to documentation Loan | www.sba.gov minerals; coal, oil and gas, Surplus Real & Business Matchmaking Personal Property Sales, and the U.S. Small o Get connected with pre­screened foreign COMPLIANCE WITH FEDERAL LAWS Business Administration’s Timber Sale buyers, participate in trade events, and set Program. AND REGULATIONS "-'8&&6$%,#'>$6=',3Q&5%8&%6'31*+$(.#'$%' Export Licenses (BIS) The SBA oversees timber sales by working your target markets o Obtain information on exports requiring a in conjunction with the following agencies Market Intelligence license before shipping via Memorandums of Understanding (MOU): o Conduct analysis of market potential and www.bis.doc.gov Department of Agriculture, Department of foreign competition, complete background Economic and Trade Sanctions (Treasury) the Interior, Bureau of Land Management checks on companies, and get help from o Find out the countries, entities, and and Fish & Wildlife Service, Department USEAC staff on navigating any cultural $%)$Q$)"(.#'>$6='>=38'l/H/'*58#'+(%%36')3' for Defense, Department of Energy, and differences business | treas.gov/ofac the Tennessee Valley Authority. There are “Gold Key” Services Electronic Export Information (Census) also directives governing the program in the o The Department’s “Gold Key” suite of service o Upon exporting any good value at over Forest Service Handbook 2409.18, and 13 includes: customized matchmaking meetings $2500, information must be submitted to the CFR (Code of Federal Regulations) section #+=&)".&)'3Q&5#&(#'63'*%)'!"#$%&##'-(56%&5#' R"638(6&)'LS-356'H2#6&8/']&6'=&.-'3%'*.$%,' 121.501­512. Timber sales are not governed and customers, pre­screened appointments AES, classifying merchandise, regulations by the Federal Acquisition Regulation. arranged before travelling, market and and trade data SBA’s Timber Program is administered via $%)"#652'!5$&*%,#'>$6='65()&'#-&+$(.$#6#7' 1­800­549­0595 a Senior Representative located in SBA -3#6B8&&6$%,')&!5$&*%,#'(%)'(##$#6(%+&'$%' Headquarters, and 3 Industrial Specialists developing appropriate follow­up strategies,

54 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma SBA DISASTER ASSISTANCE Knowing the Types of Assistance Available for Recovery DISASTER ASSISTANCE

he disaster program is or replace real property, machinery, ordinary and necessary operating SBA’s largest direct loan &N"$-8&%67'*S6"5'$%Q&%6352'(%)' expenses as they recover from a disaster. program, and the only SBA leasehold improvements. A homeowner The limit for physical and EIDL loans program for entities other may apply for a loan of up to $200,000 combined is $2 million. than small businesses. SBA to repair or replace the primary The Military Reservists Economic Tis responsible for providing affordable, residence to its pre­disaster condition. Injury Disaster Loan is a working 6$8&.2'(%)'(++&##$!.&'*%(%+$(.' Homeowners or renters may apply capital loan for small businesses facing assistance to non­farm businesses of all for a loan up to $40,000 to help repair *%(%+$(.'.3##'>=&%'6=&'3>%&5'35'(%' #$V'-5$Q(6&7'%3%-53*6'35,(%$V(6$3%#7' or replace personal property, such as essential employee is called up to active homeowners and renters following clothing, furniture or automobiles, lost duty in their role as a military reservist. declared disasters. in the disaster. The loan limit is $2 million and the The SBA is authorized by the Small The SBA may increase a loan up to 20 business can use the funds to cover Business Act to make two types of percent of the total amount of physical operating expenses until the essential disaster loans: )(8(,&#'(#'Q&5$*&)'!2'HOR'63'8(9&' employee or business owner is released improvements that protect the property from active duty. Physical Disaster Loans from similar future disasters. The SBA can only approve disaster Physical Disaster Loans are loans to applicants having an acceptable the primary source of funding for Economic Injury Disaster Loans credit history and repayment ability. permanent rebuilding and replacement Economic Injury Disaster Loans The terms of each loan are established of uninsured or underinsured disaster­ provide the necessary working capital in accordance with each borrower’s caused damages to privately­owned after a declared disaster until normal ability to repay. The law gives SBA real and/or personal property. SBA’s operations resume. Small businesses, several powerful tools to make disaster physical disaster loans are available to small agricultural cooperatives, small loans affordable: low­interest rates !"#$%&##&#'31'(..'#$V'-5$Q(6&'%3%-53*6' businesses engaged in aquaculture (around 4 percent), long­terms (up to organizations of all sizes, homeowners f*#=&5$'135'&S(8-.&c'(%)'83#6'-5$Q(6&' DA'2&(5#c7'(%)'5&*%(%+$%,'31'-5$35'.$&%#' and renters. Businesses and private, %3%-53*6'35,(%$V(6$3%#'31'(..'#$V&#'(5&' (in some cases). As required by law, the %3%-53*6'35,(%$V(6$3%#'31'(%2'#$V&'8(2' eligible for EIDL assistance, regardless interest rate for each loan is based on apply for a loan up to $2 million (actual of whether there was any physical SBA’s determination of whether the loan amounts are based on the amount damage. The loan limit is $2 million. applicant has credit available elsewhere of uncompensated damage) to repair The EIDL helps small businesses meet — the ability to borrow or use their own

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 55 (##&##8&%67'&Q(+"(6$3%'-.(%#'(%)'?33)' preparedness, that will help you develop a solid business continuity plan. Meanwhile, here are a few preparedness tips to consider: • Review Your Insurance Coverage. Contact your insurance agent to *%)'3"6'$1'23"5'+3Q&5(,&'$#'5$,=6'135' your business and make sure you understand the policy limits. Ask about Business Interruption Insurance, which compensates you for lost income and covers operating expenses if your company has to temporarily shut down after a disaster. • Establish a solid supply chain. If all your vital external vendors and suppliers are local and if the )$#(#6&5'$#'#$,%$*+(%6.2'>$)&#-5&()7' you’ll all be in the same boat, struggling to recover. It’s a good idea to diversify your list of vendors for key supplies to companies outside your area or internationally, if possible. Create a contact list for important contractors and vendors you plan to use in an emergency (%)'*%)'3"6'$1'6=3#&'#"--.$&5#'=(Q&' a recovery plan in place. Keep this .$#6'>$6='36=&5')3+"8&%6#'*.&)'$%'(' place that’s accessible, and also at a protected off­site location. resources to recover from the disaster possibly without taking on new debt. • Plan for an alternate location. Do without causing undue hardship. Assessing your risks and needs are some research well in advance of More information on all of SBA’s (%'$8-356(%6'*5#6'#6&-'$%')&Q&.3-$%,' the disaster for several alternative disaster assistance programs, including your business continuity strategy. The places to relocate your company in the event a disaster forces you information for military reservists, American Red Cross’ Ready Rating™ 63'#="6')3>%'$%)&*%$6&.2/'H38&' program (www.readyrating.org) is a is available at www.sba.gov/disaster. options include contacting a local Apply online using the Electronic Loan free online tool that helps businesses real estate agent to get a list of Application (ELA) via SBA’s secure get prepared for disaster and other (Q($.(!.&'Q(+(%6'31*+&'#-(+&/'<(9&' Website at: https://disasterloan.sba.gov/ela. emergencies. With Ready Rating you an agreement with a neighboring can evaluate your level of disaster !"#$%&##'63'#=(5&'31*+&'#-(+&'$1' Disaster Preparedness readiness, and you’ll get customized disaster strikes. If possible, make Recovering from a disaster doesn’t feedback on how to establish or expand plans for employees to telecommute begin with clearing the debris and your disaster plan. "%6$.'6=&'31*+&'=(#'!&&%'5&!"$.6/'' returning to work. Imagine stepping into Another useful site provided by FEMA ' :=&'*%(%+$(.'(%)'&836$3%(.'+3#6'31' 23"5'#635&7'35'5("5(%67'35'6=&'31*+&' — Ready.gov (www.ready.gov) — provides rebuilding a business after a disaster where you run your business, a day or practical disaster preparedness tips and can be overwhelming. However, with a 6>3'(16&5'6=&'*5&'=(#'!&&%'+3%6($%&)7' checklists for businesses, homeowners business continuity plan in place, you’ll 6=&'635%()3'=(#'-(##&)7'35'?33)>(6&5#' and renters. SBA has teamed up with be able to rebound and reopen quickly, have receded. First come the questions: Agility Recovery Solutions to offer and in a better position to contribute “How much will it cost to rebuild? Will business continuity strategies through to the economic recovery of your my insurance cover all this? How will the “PrepareMyBusiness” website community. DISASTER ASSISTANCEI pay my employees and vendors and (www.preparemybusiness.org) and As small businesses are leading cover the bills during the recovery monthly disaster planning webinars. America’s economic recovery, many of phase?” Before a disaster strikes is a Previous topics — presented by them are investing time and money good time to start, or update and test &S-&56#'$%'6=&$5'*&.)#'^'=(Q&'$%+.")&)' into their plans to grow and create your business continuity plan. crisis communications, testing the jobs. Developing a strong disaster And while SBA disaster loans preparedness plan, and using social preparedness plan should be a critical go a long way toward revitalizing media to enhance small business and integral piece of those efforts. communities devastated by the economic recovery. At the website you can Planning for a disaster is the best way of fallout that follows disasters, with a sign up for future webinars, view limiting its effects. solid preparedness plan in place, your previous webinars, and download business will be able to recover sooner, checklists that give you tips on risk

56 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma ADVOCACY AND OMBUDSMAN Watching Out for the Interests of Small Businesses

support the interests of small entities. sba.gov/ombudsman, in­person, OFFICE OF ADVOCACY The regional advocates help identify or through a national network of ' :=&'HOR4#'J1*+&'31'R)Q3+(+27'6=&' regulatory concerns of small business Regulatory Fairness Board Members. “small business watchdog” of the by monitoring the impact of federal and The National Ombudsman meets government, examines the role and state policies at the grassroots level. with small business owners around status of small business in the economy ' d&(5%'835&'(!3"6'6=&'J1*+&'31' the country at listening sessions and and independently represents the views Advocacy at www.sba.gov/advocacy. regulatory fairness dialogues in all ten of small business to federal agencies, SBA Regions. These outreach events Congress, the president and federal provide critical, real­time input from +3"56#/':=&'()Q3+(+2'31*+&'+38-$.&#'(%)' OFFICE OF THE NATIONAL the small business community on REF interprets statistics on small business issues impacting small business growth OMBUDSMAN: ADVOCACY AND OMBUDSMAN and is the primary entity within the and help federal regulators better federal government to disseminate Bringing Fair Regulatory Enforcement understand how government can best to America’s Small Businesses small business data. support small business success. The National Ombudsman has helped Headed by the chief counsel for Regional Regulatory Fairness Boards thousands of small businesses save ()Q3+(+27'6=&'31*+&'(.#3'1"%)#'3"6#$)&' in each of SBA’s 10 regions promote 6$8&'(%)'83%&2'!2'5.Q$%,')$1*+".6' research of small business issues regulatory fairness by alerting federal regulatory compliance and enforcement and produces numerous publications regulators to important REF issues such issues. As part of President Obama’s to inform policy makers about the as unintended consequences of a new 8(%)(6&'63'-53836&'('.&Q&.'-.(2$%,'*&.)' important role of small businesses rule or regulation. These Boards, each for small business, we work directly in the economy and the impact 8()&'"-'31'*Q&'#8(..'!"#$%&##'3>%&5#7' with federal regulators to facilitate of government policies on small also help raise awareness in their practical and timely resolutions of !"#$%&##&#/'0%'())$6$3%7'6=&'31*+&' communities about resources available Regulatory Enforcement Fairness (REF) monitors federal agency compliance to small businesses through the SBA matters impacting small businesses. with the Regulatory Flexibility Act and the National Ombudsman. The National Ombudsman oversees – the law that requires agencies to Every year, the National Ombudsman fair enforcement of small business analyze the impact of their proposed 5&-356#'63'I3%,5&##'$6#'*%)$%,#'3%'6=&' regulation by: regulations on small entities (including impact of the policies and practices of • Providing small business owners small businesses, small governmental every federal agency that touches small M"5$#)$+6$3%#'(%)'#8(..'%3%-53*6' ('+3%*)&%6$(.'>(2'63'5&-356'(%)' resolve federal REF problems, like business. organizations), and consider regulatory To learn more about how the National alternatives that minimize the economic excessive enforcement action or )$#-53-356$3%(6&'*%&#' Ombudsman can help your small burden on small entities. • Escalating small business concerns !"#$%&##7'35'63'+3%*)&%6$(..2'5&-356' Advocacy’s mission is enhanced by to federal agencies for fairness a REF issue, call 888­REG­FAIR a team of regional advocates, located review & resolution (888­734­3247) or complete the simple in the SBA’s 10 regions. They are • Grading federal agencies on their one­page form at sba.gov/ombudsman/ Advocacy’s direct link to small business small business policies and practices comment. owners, state and local government Small businesses can connect with the entities, and organizations that National Ombudsman online at

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 57 ADDITIONAL RESOURCES Taking Care of Startup Logistics

incurred when a customer suffers harm from using the product. There are many other types of liability, >=$+='(5&'15&N"&%6.2'5&.(6&)'63'#-&+$*+' industries. Liability law is constantly changing. An analysis of your liability insurance needs by a competent professional is vital in determining an adequate and appropriate level of protection for your business. Property – There are many different types of property insurance and levels of coverage available. It is important to determine the property insurance you need to ensure the continuation of your business and the level of insurance you need to replace or rebuild. You should also understand the terms of the insurance, including any limitations or waivers of coverage. Business Interruption – While ven if you are running a Commonwealth of Massachusetts property insurance may pay enough small home­based business, Division of Registration to replace damaged or destroyed you will have to comply 100 Washington St., Ste. 710 equipment or buildings, how will you with many local, state and Boston, MA 02118 pay costs such as taxes, utilities and federal regulations. Avoid 617-727-3074 www.mass.gov/dpl other continuing expenses during the Ethe temptation to ignore regulatory period between when the damage details. Doing so may avert some red occurs and when the property is tape in the short term, but could be FICTITIOUS BUSINESS NAME replaced? Business Interruption (or an obstacle as your business grows. Search to determine if the name “business income”) insurance can Taking the time to research the of your proposed business is already -53Q$)&'#"1*+$&%6'1"%)#'63'-(2'23"5' applicable regulations is as important in use. If it is not used, register the *S&)'&S-&%#&#')"5$%,'('-&5$3)'31'6$8&' as knowing your market. Bear in mind name to protect your business. For when your business is not operational. that regulations vary by industry. If more information, contact the county “Key Man” – If you (and/or any you’re in the food­service business, +.&594#'31*+&'$%'6=&'+3"%62'>=&5&' other individual) are so critical to for example, you will have to deal your business is based. If you are a the operation of your business that it with the health department. If you corporation, you’ll need to check with cannot continue in the event of your use chemical solvents, you will have the state. illness or death, you should consider environmental compliances to meet. “key man” insurance. This type of Carefully investigate the regulations BUSINESS INSURANCE policy is frequently required by banks that affect your industry. Being Like home insurance, business or government loan programs. It also out of compliance could leave you insurance protects your business can be used to provide continuity unprotected legally, lead to expensive (,($%#6'*5&7'6=&16'(%)'36=&5'.3##&#/' of operations during a period of penalties and jeopardize your Contact your insurance agent or ownership transition caused by the business. broker. It is prudent for any business death, incapacitation or absence due to purchase a number of basic types to a Title 10 military activation of an BUSINESS LICENSES of insurance. Some types of coverage owner or other “key” employee. Automobile – It is obvious that There are many types of licenses, are required by law, others simply a vehicle owned by your business both state and local as well as make good business sense. The types of should be insured for both liability professional. Depending on what you insurance listed below are among the and replacement purposes. What is do and where you plan to operate, most commonly used and are merely a less obvious is that you may need your business may be required to starting point for evaluating the needs special insurance (called “non­owned have various state and/or municipal of your business. automobile coverage”) if you use your .$+&%#'+&56$*+(6&#'35'-&58$6#/' Liability Insurance – Businesses personal vehicle on company business. Licenses are typically administered may incur various forms of liability This policy covers the business’ by a variety of state and local in conducting their normal activities.

ADDITIONAL RESOURCES liability for any damage which may departments. Consult your state or One of the most common types is result from such usage. local government for assistance. product liability, which may be

58 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma !"#$%&'()*'+,&%$-.& – Under most FEDERAL Resale Certificate #6(6&'.(>#7'31*+&5#'(%)')$5&+635#'31'(' ' Y3"'>$..'%&&)'('5&#(.&'+&56$*+(6&'$1' corporation may become personally SELF­EMPLOYMENT TAX you plan to sell products. The permit liable for their actions on behalf of the Every employee must pay Social allows you to purchase inventory from company. This type of policy covers Security and Medicare taxes. If you suppliers without paying taxes. To this liability. are self­employed, your contributions 3!6($%'('+&56$*+(6&7'+3%6(+6'6=&'#'23"'63'-"5+=(#&' very knowledgeable, but there are still forms and general information from: many facets of tax law that you should inventory, or materials, which will become part of the product you sell, know. The Internal Revenue Service is Massachusetts State Taxes from suppliers without paying taxes. a great source for tax information. Department of Revenue Small Business/Self­Employed Tax Customer Service Bureau It requires you to charge sales tax Center: www.irs.gov/Businesses/Small- 200 Arlington St. to your customers, which you are Businesses-&-Self-Employed. Chelsea, MA 02150 responsible for remitting to the 617-887-6367 or 800-392-6089 state. You will have to pay penalties When you are running a business, www.mass.gov/dor you don’t need to be a tax expert. if it is found that you should have However, you do need to know some tax basics. The IRS Small Business/ Self­Employed Tax Center gives you the information you need to stay tax compliant so your business can thrive. For Small Business Forms and Publications visit: www.irs.gov/ Businesses/Small-Businesses-&-Self- Employed/Small-Business-Forms-and- Publications. FEDERAL PAYROLL TAX (EIN NUMBERS) ' R%'L8-.32&5'0)&%6$*+(6$3%'Z"8!&5' (EIN), also known as a Federal L8-.32&5'0)&%6$*+(6$3%'Z"8!&5' (FEIN), is used to identify a business entity. Generally, businesses need an ADDITIONAL RESOURCES EIN to pay federal withholding tax. You may apply for an EIN in various ways, one of which is to apply online at www.irs.gov/Businesses/Small- Businesses-&-Self-Employed/Employer- ID-Numbers-EINs. This is a free service offered by the Internal Revenue Service. Call 800­829­1040 if you have questions. You should check with your state to determine if you need a state number or charter.

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 59 been taxing your products and now owe back taxes to the state. For information on sales tax issues, contact your state government. FEDERAL INCOME TAX Like the state income tax, the method of paying federal income taxes depends upon your legal form of business. Sole Proprietorship:'Y3"'8"#6'*.&' IRS Federal Form Schedule C along with your personal Federal Income Tax return (Form 1040) and any other applicable forms pertaining to gains or losses in your business activity. Partnership:'Y3"'8"#6'*.&'('[&)&5(.' Partnership return (Form 1065). This is merely informational to show gross (%)'%&6'&(5%$%,#'31'-53*6'(%)'.3##/'R.#37' each partner must report his share of partnership earnings on his individual Form 1040 based on the information Business Workshop is available on (##$#6(%+&7'&.&+653%$+'*.$%,'(%)'-(2$%,' 1538'6=&'pBU'*.&)'>$6='6=&'[358'UACG/ CD at www.irs.gov/businesses/small/ options, retirement plans, business Corporation:'Y3"'8"#6'*.&'(' article/0,,id=101169,00.html if you publications and forms, common tax Federal Corporation Income Tax are unable to attend a workshop in *.$%,')(6'(%)'1&)&5(.'.&,(.'=3.$)(2#/ return (Form 1120). You will also be person. Small business workshops are required to report your earnings from designed to help the small business the corporation including salary and 3>%&5'"%)&5#6(%)'(%)'1".*..'6=&$5' SOCIAL SECURITY CARDS other income such as dividends on your federal tax responsibilities. Workshops All employees must have a Social personal federal income tax return are sponsored and presented by Security number and card. It must be (Form 1040). IRS partners who are federal tax signed by its owner, and you should specialists. always ask to see and personally record FEDERAL PAYROLL TAX Workshop topics vary from a the Social Security number. Failure to do so may cause your employee to lose 1%*%&(2'3,-44.2*,)5'6(78 Any general overview of taxes to more !&%&*6#'(%)'+3%#$)&5(!.&'653"!.&'135' business employing a person must #-&+$*+'63-$+#'#"+='(#'5&+35)9&&-$%,' yourself in back tracking to uncover the register with the IRS and acquire an and retirement plans. Although error. EIN and pay federal withholding tax at most are free, some workshops have Each payday, your employees must least quarterly. File Form SS­4 with the fees associated with them. Fees receive a statement from you telling IRS to obtain your number and required for a workshop are charged by the them what deductions were made tax forms. Call 800­829­3676 or sponsoring organization, not the IRS. and how many dollars were taken out 800­829­1040 if you have questions. The IRS’s Virtual Small Business for each legal purpose. This can be Tax Workshop is an interactive presented in a variety of ways, including resource to help small business owners on the check as a detachable portion IRS WEB PRODUCTS learn about their federal tax rights or in the form of an envelope with the FOR SMALL BUSINESSES and responsibilities. This educational items printed and spaces for dollar product, available online and on CD For the most timely and up­to­date )&)"+6$3%#'63'!&'*..&)'$%/ consists of nine stand­alone lessons tax information, go to www.irs.gov. that can be selected and viewed in any sequence. A bookmark feature EMPLOYEE CONSIDERATIONS VIRTUAL SMALL BUSINESS makes it possible to leave and return Taxes WORKSHOP 63'('#-&+$*+'-3$%6'>$6=$%'6=&'.&##3%/' If you have any employees, including www.irs.gov/Businesses/Small-Businesses- Users also have access to a list of 31*+&5#'31'('+35-35(6$3%'!"6'%36'6=&'#3.&' &-Self-Employed/Small-Business-Self- useful online references that enhance proprietor or partners, you must make Employed-Virtual-Small-Business-Tax- the learning experience by allowing -&5$3)$+'-(28&%6#'63>(5)#7'(%)a35'*.&' Workshop them to view references and the video quarterly reports about payroll taxes The Virtual Small Business Tax lessons simultaneously. and other mandatory deductions. You T359#=3-'$#'6=&'*5#6'31'('#&5$&#'31' The Tax Calendar for may contact these government agencies video products designed exclusively Small Businesses and Self­ for information, assistance and forms. Employed (Publication 1518) for small business taxpayers. Social Security Administration This workshop helps business www.irs.gov/businesses/small/ 800-772-1213 article/0,,id=101169,00.html contains

ADDITIONAL RESOURCES owners understand federal tax www.ssa.gov obligations. The Virtual Small useful information on general business taxes, IRS and SSA customer

60 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma WORKPLACE DISABILITY eligibility of new hires. It is a safe, simple, and secure Internet­based PROGRAMS #2#6&8'6=(6'&.&+653%$+(..2'Q&5$*&#' Americans with Disabilities Act the Social Security number and (ADA): For assistance with the ADA, employment eligibility information call 800­669­3362 or visit www.ada.gov. reported on Form I­9. E­Verify is voluntary in most states and there is no charge to use it. U.S. CITIZENSHIP AND If you are an employer or employee IMMIGRATION SERVICES and would like more information about The Federal Immigration Reform and the E­Verify program, please visit Control Act of 1986 requires employers www.dhs.gov/E-Verify or contact to verify employment eligibility of Customer Support staff: 1­888­464­4218 new employees. The law obligates Monday – Friday 8 a.m. – 5 p.m. an employer to process Employment E­mail: e­[email protected] L.$,$!$.$62'\&5$*+(6$3%'[358'0BW/':=&' U.S. Citizenship and Immigration SAFETY AND HEALTH H&5Q$+&#'J1*+&'31'O"#$%&##'d$($#3%' offers a selection of information REGULATIONS bulletins and live assistance through All businesses with employees the Employer Hotline. For forms call are required to comply with state 800­870­3676, for the Employer Hotline and federal regulations regarding call 800­357­2099. the protection of employees. The Occupational Safety and Health E-Verify: Employment Eligibility Administration provides information on Verification 6=&'#-&+$*+'=&(.6='(%)'#(1&62'#6(%)(5)#' E­Verify, operated by the Department adopted by the U.S. Department of of Homeland Security in partnership Labor. Call 1­800­321­6742 or visit with the Social Security Administration, www.osha.gov. is the best — and quickest — way for employers to determine the employment

Social Security’s Business Services Online The Social Security Administration now provides free electronic services online at www.socialsecurity.gov/ employer/. Once registered for Business Services Online, business owners or their authorized representative can: ;''*.&'TBF#'3%.$%&`'(%) • verify Social Security numbers through the Social Security Number

\&5$*+(6$3%'H&5Q$+&7'"#&)'135'(..' ADDITIONAL RESOURCES employees prior to preparing and submitting Forms W­2. Federal Withholding U.S. Internal Revenue Service 800-829-1040 www.irs.gov Health Insurance Compare plans in your area at www.healthcare.gov. Employee Insurance If you hire employees you may be required to provide unemployment or workers’ compensation insurance.

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 61 BUILDING CODES, PERMITS AND ZONING BUSINESS ORGANIZATION: It is important to consider zoning Choosing Your Business Structure regulations when choosing a site for your business. You may not be permitted to conduct business out of There are many forms of legal task; what, if any, consultation is your home or engage in industrial structure you may choose for your needed between partners before activity in a retail district. Contact the business. Each legal structure offers major decisions, and what happens !"#$%&##'.$+&%#&'31*+&'$%'6=&'+$62'35' organizational options with different when a partner dies. Under a general town where the business is located. tax and liability issues. We suggest partnership each partner is liable for you research each legal structure (..')&!6#'31'6=&'!"#$%&##/'_53*6#'(5&' BAR CODING thoroughly and consult a tax taxed as income to the partners based accountant and/or attorney prior to on their ownership percentage. Many stores require bar coding on making your decision. packaged products. Many industrial The most common organizational and manufacturing companies use bar Limited Partnership structures are sole proprietorships, coding to identify items they receive and Like a general partnership, a general and limited partnerships and ship. There are several companies that limited partnership is established by limited liability companies. can assist businesses with bar­coding an agreement between two or more Each structure offers unique tax and needs. You may want to talk with an persons. However, there are two types .$(!$.$62'!&%&*6#/'01'23"45&'"%+&56($%' SBDC, SCORE or WBC counselor for of partners. which business format is right for you, more information. • A general partner has greater you may want to discuss options with a control in some aspects of the Federal Registration of Trademarks business counselor or attorney. partnership. For example, only a general partner can decide to and Copyrights Sole Proprietorship dissolve the partnership. General Trademarks or service marks are One person operating a business as partners have no limits on the words, phrases, symbols, designs or an individual is a sole proprietorship. dividends they can receive from combinations thereof that identify It’s the most common form of business -53*6'#3'6=&2'$%+"5'"%.$8$6&)' and distinguish the source of goods. 35,(%$V(6$3%/'_53*6#'(5&'6(S&)'(#' liability. Trademarks may be registered at both income to the owner personally. The • Limited partners can only the state and federal level. To register a personal tax rate is usually lower than 5&+&$Q&'('#=(5&'31'-53*6#'!(#&)' federal trademark, contact: the corporate tax rate. The owner on the proportional amount of U.S. Patent and Trademark Office has complete control of the business, their investment, and liability is P.O. Box 1450 but faces unlimited liability for its similarly limited in proportion to Alexandria, VA 22313-1450 debts. There is very little government their investment. 800-786-9199 regulation or reporting required with www.uspto.gov/ this business structure. LLCs and LLPs The limited liability company Trademark Information Hotline or partnership is a relatively 703-308-9000 General Partnership new business form. It combines A partnership exists when two selected corporate and partnership STATE REGISTRATION or more persons join together in characteristics while still maintaining the operation and management status as a legal entity distinct from OF A TRADEMARK of a business. Partnerships are its owners. As a separate entity it can Trademarks and service marks may subject to relatively little regulation acquire assets, incur liabilities and be registered in a state. and are fairly easy to establish. A conduct business. It limits liability Caution: Federally registered formal partnership agreement is for the owners. The limited liability 65()&8(59#'8(2'+3%?$+6'>$6='(%)' recommended to address potential partnership is similar to the LLC, but supersede state registered business and +3%?$+6#'#"+='(#h'>=3'>$..'!&' it is for professional organizations. product names. responsible for performing each Patents A patent is the grant of a property U.S. Patent and Trademark Office U.S. Copyright Office right to the inventor by the U.S. Patent 800-786-9199 • www.uspto.gov U.S. Library of Congress (%)':5()&8(59'J1*+&/'06'-53Q$)&#'6=&' James Madison Memorial Building owner with the right to exclude others Copyrights Washington, DC 20559 from making, using, offering for sale or Copyrights protect original works of 202-707-9100 - Order Line selling the patented item in the United authorship including literary, dramatic, 202-707-3000 - Information Line States. musical and artistic, and certain other www.copyright.gov Additional information is provided in intellectual works. Copyrights do the publications, General Information not protect facts, ideas and systems, Concerning Patents and other although it may protect the way these publications distributed through the things are expressed. For general ADDITIONAL RESOURCES l/H/'_(6&%6'(%)':5()&8(59'J1*+&/'[35' information contact: more information, contact the:

62 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma OTHER ASSISTANCE

BERKSHIRE ENTERPRISES CIMIT GENERAL INFORMATION: Supervises and provides services to 33 OTHER SOURCES OF BUSINESS INFORMATION CENTER [email protected] occupational regulatory boards that are ASSISTANCE 1350 West St. 617-643-3800 • 617-643-3840 Fax responsible for establishing minimum Pittsfield, MA 01201 standards of competence and conduct Small Business Resources 413-236-2140 • 413-443-5166 Fax BOSTON OFFICE (PRIMARY): representing 46 professions in the AARP MASSACHUSETTS www.berkshireenterprises.com/index.htm 165 Cambridge St., Ste. 702 Commonwealth of Massachusetts. One Beacon St., Ste. 2301 Boston, MA 02114 Boston, MA 02108 BOSTON REDEVELOPMENT AUTHORITY CITY OF BOSTON COMMONWEALTH OF MASSACHUSETTS 617-305-0515 One City Hall, 9th Fl. DEPARTMENT OF NEIGHBORHOOD DEV. STATE OFFICE OF SUPPLIER DIVERSITY (SDO) www.aarp.org/ma One City Hall Square OFFICE OF BUSINESS DEVELOPMENT (FORMERLY SOMWBA) Boston, MA 02201 26 Court St., 9th Fl. 1 Ashburton Place, 13th Fl., Ste. 1313 ART MORPHEUS 617-722-4300 Boston, MA 02108 Boston, MA 02108 BOSTON CENTER FOR THE ARTS www.bostonredevelopmentauthority.org 617-635-3880 617-502-8831 539 Tremont St. http://dnd.cityofboston.gov/ www.mass.gov/sdo Boston, MA 02116 BRANECC – BRAZIL NEW ENGLAND The Office of Business Development Provides services in certification, 617-456-1131 CHAMBER OF COMMERCE provides entrepreneurs and existing enforcement and business assistance to www.artmorpheus.org Endereço: businesses with access to financial and minority and women-owned businesses. Non-profit organization that promotes a Entrepreneur Innovation Center at the technical resources. OBD also supports vibrant artistic community and economic Maynard Building at Framingham State the nationally recognized Boston Main COMMONWEALTH KITCHEN revitalization for working artists. University Streets program, designed to promote Quincy St. 14 Vernon St., Rm. 215, 2nd Fl. the continued revitalization of the City’s Boston, MA 02121 ASCENTRIA CARE ALLIANCE Framingham, MA 01701 neighborhood commercial districts through 617-522-7900 14 E. Worcester St., Ste. 300 857-246-9122 public/private partnerships. http://www.commonwealthkitchen.org/ Worcester, MA 01604 [email protected] CommonWealth Kitchen is a collaborative 774-243-3900 CITY OF SOMERVILLE * community working to strengthen the www.ascentria.org THE BUSINESS COALITION City Hall local economy, particularly for people In Massachusetts we offer; the micro- One Boston Place, Ste. 2600 93 Highland Ave. who have been impacted by racial, enterprise development program to train Boston, MA 02108 Somerville, MA 02143 social, and economic inequality. We offer and assist refugees and asylees to start or 781-935-9580 617-663-3311 shared kitchens with integrated business strengthen their own business and attain [email protected] www.somervillema.gov assistance, creating and growing dynamic economic self sufficiency through self- The Business Coalition (TBC) is a non- food-based businesses and careers. employment. profit organization whose members are CITY OF WORCESTER comprised of companies, agencies and Executive Office of Economic Development CONSUMER AFFAIRS AND BUSINESS ASSOCIATED INDUSTRIES OF institutions experienced in international Worcester City Hall REGULATIONS MASSACHUSETTS - AIM trade & development. Our members believe 455 Main St. www.mass.gov/ocabr OTHER ASSISTANCE One Beacon St., the private sector can help stimulate the Worcester, MA 01608 Boston, MA 02108 U.S. economy and create jobs by actively 508-799-1400 CONSUMER HOTLINE 617-262-1180 supporting international trade initiatives. [email protected] 888-283-3757 Toll Free in MA only www.aimnet.org Office Hours: Mon.-Fri. 8:30 am to 5:00 pm. or 617-973-8787 locally CAMBODIAN MUTUAL ASSISTANCE ASSOCIATED SUBCONTRACTORS OF ASSOCIATION OF GREATER LOWELL, INC. COLLABORATIVE FOR ENTREPRENEURSHIP COOPERATIVE FUND OF NEW ENGLAND MASSACHUSETTS, INC. 465 School St. & INNOVATION 800-818-7833 31 State St., Lowell, MA 01851 Worcester Polytechnic Institute [email protected] Boston, MA 02109 978-454-6200 50 Prescott St., Rms. 1319-1320 www.cooperativefund.org 617-742-3412 http://www.cmaalowell.org/wp/ Worcester, MA 01605 The Cooperative Fund of New England www.associatedsubs.com Our mission is to improve the quality of 508-831-5761 (CFNE) provides financing and facilitates ASM is the state’s leading association life for Cambodian Americans and other [email protected] technical assistance to worker-owned for specialty contractors. Our business is minorities and economically disadvantaged cooperatives, including the sale of helping you do yours! persons in Lowell through educational, COMMONWEALTH OF MASSACHUSETTS traditionally-owned businesses to its cultural, economic and social programs. COMMBUYS NEW E-PROCUREMENT employees. BENTLEY MICROFINANCE GROUP SYSTEM Bentley Microfinance Group CAMBRIDGE INNOVATION CENTER (CIC), www.commbuys.com COOPERATIVE CREDIT UNION 175 Forest St. CAMBRIDGE, MA Whether you are a supplier or a buyer, ASSOCIATION Lindsay Hall 30A Cic.us COMMBUYS will ensure you get the best 845 Donald Lynch Blvd. Waltham, MA 02452 CIC has been helping great entrepreneurs deals in a fair, transparent, open and Marlborough, MA 01752 http://bentleylends.org/bentley-micro- leading fast-growing companies succeed competitive process. Connecting business 508-481-6755 finance/ since 1999. with government. ccuassociation.org The Bentley Microfinance Group is a The Cooperative Credit Union Association is principally student run organization that CIMIT: CENTER FOR INTEGRATION OF COMMONWEALTH OF MASSACHUSETTS a credit union trade group with a heritage falls under Bentley’s 501(c)3 non-profit MEDICINE AND INNOVATIVE ... DIVISION OF REGISTRATION distinguishing it as the oldest continually classification. Charged with managing its www.cimit.org 1000 Washington St., Ste. 710 operating trade group in the United loan fund, BMG targets lending to local A non-profit consortium of Boston’s Boston, MA 02118-6100239 States. While proud of this heritage, the entrepreneurs and small business owners leading teaching hospitals and universities, 617-727-3074 Association serves its member credit unions in the Greater Boston area who have found CIMIT fosters interdisciplinary collaboration www.mass.gov/dpl throughout Massachusetts, New Hampshire the traditional means of accessing capital among world-class experts in translational The Division of Professional Licensure (DPL) and Rhode Island as their legislative and closed to them. research, medicine, science and engineering, is an agency within the Office of Consumer regulatory advocate, as a liasion to vendors in concert with industry, foundations and Affairs and Business Regulation. DPL and business partners, and as a resource for government, to rapidly improve patient oversees 28 boards of registration, which training and education, and industry news. care. license and regulate more than 370,000 individuals and businesses to practice some 50 trades and professions in Massachusetts.

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 63 OTHER ASSISTANCE

COWORK SPRINGFIELD FAIRMOUNT INNOVATION LAB, HISPANIC AMERICAN CHAMBER OF KIRSTEIN BUSINESS LIBRARY 1 Federal St. DORCHESTER, MA COMMERCE BOSTON PUBLIC LIBRARY Springfield, MA 01105 http://www.lab584.org/ 225 Franklin St., Ste. 2600 Copley Square www.coworkspringfield.com The Fairmount Innovation Lab is a unique, Boston, MA 02110 700 Boylston St. coworkspringfi[email protected] cross-sector lab, incubator, and accelerator www.hacc.com Boston, MA 02116 CoWork Springfield’s mission is to for elevating, launching and growing 617-859-2142 build a diverse peer support network of creative enterprises along the Fairmount INCITEHEALTH Business reference books, magazines, entrepreneurs in the Pioneer Valley and Commuter Rail Line. Boston business databases and librarians to help our vision is to offer access to professional incitehealth.hms.harvard.edu/about/ you use them! Statistics for business plans, and modern coworking spaces where FDIC Mission: InciteHealth is a year-long, sample plans, books on starting small entrepreneurs can Connect, Create, and 15 Braintree Hill Park part-time program aimed at transforming businesses. Take a look at the library’s Collaborate. Braintree, MA 02184 primary care through the creation of new business databases 781-794-5500 ventures www.bpl.org/electronic/business.asp CPA REFERRAL SERVICEPAS www.fdic.gov Most databases are usable outside from [email protected] INITIATIVE FOR A COMPETITIVE INNER Kirstein with a free library card or ecard FRAUHOFER TECHBRIDGE [email protected] CITY www.bpl.org Boston, MA MASSACHUSETTS SOCIETY OF CPA’S 56 Warren St #300 http://www.cse.fraunhofer.org/techbridge 105 Chauncy St., 10th Fl. Roxbury, MA 02119 LAWYER REFERRAL SERVICE Energy entrepreneurs are burdened with Boston, MA 02111 617-238-1740 www.masslawhelp.com a nearly impossible task: with scant 800-392-6145 http://www.icic.org/ resources, they must navigate the expensive Founded in 1994 by Harvard Business LYNN BUSINESS RESOURCE CENTER and nuanced process of validating their DISTRICT HALL, BOSTON, MA School Professor Michael Porter, the LYNN AREA CHAMBER OF COMMERCE revolutionary solutions for investors and http://www.districthallboston.org/ Initiative for a Competitive Inner City 583 Chestnut St., Unit #8 customers. District Hall’s unique character is defined is a nonprofit research and strategy Lynn, MA 01904 To address this pervasive challenge, by its civic nature and public purpose. Our organization and the leading authority 781-592-2900 • 781-592-2903 Fax Fraunhofer TechBridge performs customized mission is to build, strengthen, and connect on U.S. inner city economies and the [email protected] technical validation work informed individuals and communities of innovators businesses that thrive there. www.lynnchamber.com directly by industry, paving the way for while expanding the reach, visibility, and groundbreaking energy startups to attract benefits of Greater Boston’s innovation INTERISE MASSACHUSETTS ASSOCIATION OF funding and partnerships. economy. 197 Portland St., #200 COMMUNITY DEVELOPMENT Boston, MA 02114 CORPORATIONS (MACDC) GREATER NEW ENGLAND MINORITY DOD NORTHEAST REGIONAL COUNCIL 617-350-6300 15 Court Sq., SUPPLIER DEVELOPMENT COUNCIL The Council promotes Federal Small www.interise.org Boston, MA 02108 101 Huntington Ave., 17th Fl. Business Programs. For Small Businesses, Interise (formerly InnerCity Entrepreneurs) 617-426-0303 Boston, MA 02199 the council can help you find Government is the premier organization for established www.macdc.org 617-578-8900 Prime Contracting and Subcontracting small businesses interested in growth. Our mission is to support and advance the www.gnemsdc.org opportunities through Matchmakers, other Interise seeks to fill a gap in small business affordable housing, economic development The Greater New England Minority Supplier events and by putting you in touch with economic development by using practice and community building strategies of our Development Council works to increase your local Procurement Technical Assistance and applied research to promote job members, and to build the power of low the procurement opportunities between Center (PTAC) and other on-line sources. creation, wealth generation, and community and moderate income people to achieve corporate members and certified minority http://dodneregional.org/index.html building. greater economic, social and racial justice. owned businesses. E FOR ALL INTERNATIONAL INSTITUTE MASSACHUSETTS BANKERS ASSOCIATION GREENTOWN LABS http://eforall.org/ OF NEW ENGLAND One Washington Mall, 8th Fl. Somerville, MA EforAll started in December 2010 as 1 Milk St., 4th Fl. Boston, MA 02203 http://greentownlabs.org/ the Merrimack Valley Sandbox, a non- Boston, MA 02109 617-523-7595 Greentown Labs provides prototyping profit with initial funding from the 617-695-9990 www.massbankers.org space, shared machine shop tools, office Deshpande Foundation. The Deshpande www.iine.us The Massachusetts Bankers Association space and an event space. We leverage our Foundation at that time had two other represents commercial, savings and OTHER ASSISTANCE facility, partners, and sponsors to provide successful programs up and going at the IRS SMALL BUSINESS & SELF-EMPLOYED co-operative banks and savings and loan our entrepreneurs access to the equipment, Massachusetts Institute of Technology TAX CENTER SMALL BUSINESS AND SELF- institutions located in Massachusetts and services, education, and network they need (MIT) and the Hubli Sandbox in Hubli, EMPLOYED “FILING SEASON CENTRAL” elsewhere in New England. to launch their companies quickly. India. Both the MIT and Hubli programs Filing Season Central is your one stop encouraged entrepreneurship as a means assistance center for filing your business MASSACHUSETTS BAR ASSOCIATION HARVARD INNOVATION LAB to improve communities, and building on returns. This includes Highlights of Tax Law 20 West St. Batten Hall that success, the Deshpande Foundation Changes, Tax Tips, and more. Boston, MA 02111 125 Western Ave. decided to try to use entrepreneurship to www.irs.gov/businesses/small/index.html 617-338-0500 Boston, MA 02134 help the cities of Lowell and Lawrence MA, 617-495-6600 both of which were struggling with high IXL CENTER, CAMBRIDGE, MA MASSACHUSETTS GAMING COMMISSION: [email protected] unemployment in the shadow of the very IXL Center helps corporations and HOME www.i-lab.harvard.edu visible entrepreneurial activity 30 miles individuals develop breakthrough strategic massgaming.com/ away in Boston solutions and world-class innovation The mission of the Massachusetts Gaming HISPANIC-AMERICAN CHAMBER management capabilities in order to drive Commission is to create a fair, transparent, INSTITUTE EPA SMALL BUSINESS COMPLIANCE significant, sustainable business impact. and participatory process for implementing 406 S. Huntington Ave. ASSISTANCE http://www.ixl-center.com/ the expanded gaming law. Boston, MA 02130 https://www.epa.gov/compliance/small- 617-637-6403 business-compliance MASSACHUSETTS GAMING COMMISSION www.hainst.org 101 Federal St., 12th Fl. The Institute promotes economic, social, Boston, MA 02110 and educational development in Hispanic 617-979-8400 • 617-725-0258 Fax communities in the United States and Latin www.massgaming.com America.

64 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma OTHER ASSISTANCE

MASSHOUSING DIVERSITY AND MASSACHUSETTS MANUFACTURING MASSCHALLENGE, INC. NATIONAL ASSOCIATION OF ASIAN INCLUSION DIVISION EXTENSION PARTNERSHIP * 21 Drydock Ave., 6th Fl. AMERICAN PROFESSIONALS - BOSTON One Beacon St., 7th Fl. 100 Grove St., Ste. 108 Boston, MA 02210 CHAPTER * Boston, MA p2108 Worcester, MA 01605 888-782-7820 P.O. Box 51922 617-854-1097 508-831-7020 www.masschallenge.org Boston, MA 02205 www.masshousing.com www.massmep.org 617-506-3641 The Massachusetts Manufacturing MASS DEVELOPMENT www.naaapboston.org MASSACHUSETTS OFFICE OF BUSINESS Extension Partnership (MassMEP) helps Keystone Building NAAAP Boston is the local chapter of DEVELOPMENT organizations transform to a Next 99 High St. National Association of Asian American 10 Park Plaza, Ste. 3730 Generation Manufacturer that is better able Boston, MA 02110 Professionals (NAAAP), a 501(c)(3) nonprofit Boston, MA 02116 to compete in a global economy. 800-445-8030 organization that is dedicated to cultivate, 617-973-8600 www.massdevelopment.com support and promote Asian American http://www.mass.gov/mobd MASSACHUSETTS MINORITY MassDevelopment works with businesses, leaders through professional development One-stop business assistance which CONTRACTORS ASSOCIATION nonprofits, and local, state, and federal programs, community services engagements helps businesses identify and access state 1452 Dorchester Ave. officials and agencies to strengthen the and diverse industry connections. programs and resources. Dorchester, MA 02124 Massachusetts economy. Through these 617-287-2400 collaborations we help create jobs, increase NATIONAL FEDERATION OF INDEPENDENT MASSACHUSETTS CLEAN ENERGY CENTER [email protected] the number of housing units, eliminate BUSINESSES – MA (NFIB-MA) 63 Franklin St. blight, and address factors limiting www.nfib.com/massachusetts Boston, MA 02110 MASSACHUSETTS OFFICE OF economic growth including transportation, 617-315-9355 INTERNATIONAL TRADE & INVESTMENT energy, and infrastructure deficiencies. NEW ENGLAND BUSINESS ASSOCIATES www.masscec.com 10 Park Plaza Scibelli Enterprise Center Suite 4510 MASS VENTURES One Federal St. MASSACHUSETTS COMMUNITY & Boston, MA 021116 308 Congress St., 5th Fl. Springfield, MA 01105 BANKING COUNCIL (MCBC) 617-973-8650 Boston, MA 02210 413-821-9200 ext. 132 P.O. Box 45578 www.mass.gov/moiti 617-723-4920 www.nebaworks.com Somerville, MA 02145 www.mass-ventures.com 800-982-8268 MASSACHUSETTS OILHEAT COUNCIL MassVentures is a venture capital firm NORTHEASTERN UNIVERSITY CENTER FOR 1 Van de Graaff Dr. focused on fueling the Massachusetts FAMILY BUSINESS MASSACHUSETTS DIVISION OF Burlington, MA 01803 innovation economy by funding early- 209 Hayden Hall OCCUPATIONAL SAFETY ON-SITE 781-365-0844 stage, high-growth Massachusetts Boston, MA 02115 CONSULTATION PROGRAM The Massachusetts Oilheat Council (MOC) is startups as they move from concept to 617-373-7031 http://www.mass.gov/lwd/labor-standards/ a business association for heating commercialization. http://www.fambiz.neu.edu on-site-consultation-program/ Oil and petroleum products companies. While MOC’s primary mission is to promote MERRIMACK VALLEY SMALL BUSINESS PROCUREMENT TECHNICAL ASSISTANCE MASSACHUSETTS EXPORT CENTER and protect Oilheat, the MOC has become CENTER CENTER OTHER ASSISTANCE SMALL BUSINESS DEVELOPMENT CENTER an important resource for consumers, 88 Middle St., Ste. 202 Peter Cokotis, Program Manager State Transportation Bldg. businesses, government officials and the Lowell, MA 01852 Business Growth Center 10 Park Plaza, Ste. 3730 media who seek information about Oilheat 978-322-8400 Scibelli Enterprise Center, Bldg. 101 Boston, MA 02116 and its important role in the energy mix of www.commteam.org/small-business 1 Federal St. 617-973-8664 Massachusetts Springfield, MA 01105 www.mass.gov/export/ METRO SOUTH BUSINESS 413-545-6307 • 413-737-2312 Fax Provides export assistance to small MASSACHUSETTS RESTAURANT ASSISTANCE CENTER www.msbdc.org/ptac/ businesses and special export loan program. ASSOCIATION (MRA) METRO SOUTH CHAMBER OF COMMERCE [email protected] 333 Turnpike Rd., #102 60 School St. Guides you through the government MASSACHUSETTS GROWTH CAPITAL Southborough, MA 01772 Brockton, MA 02301-4087 procurement process and provides you CORPORATION 508-303-9905 508-586-0500 • 508-586-1340 Fax with information on how to become more 529 Main St., Schrafft Center, Ste. 1M10 www.metrosouthchamber.com competitive in the government marketplace. Charlestown, MA 02129 MASSACHUSETTS SOCIETY OF 617-523-6262 CERTIFIED PUBLIC ACCOUNTANTS MLK JR. BUSINESS EMPOWERMENT RETAILERS ASSOCIATION OF www.massgcc.com 105 Chauncy St., 10th Fl. CENTER MASSACHUSETTS Boston, MA 02111 237 Chandler St. 18 Tremont St., Ste. 810 MASSACHUSETTS HEALTH CONNECTOR 617-556-4000 Worcester, MA 01609 Boston, MA 02108 133 Portland St. 508-756-6330 617-523-1900 Boston, MA 02114 MASSACHUSETTS TECHNOLOGY www.smoc.org www.retailersma.org 877-623-7773 COLLABORATIVE A statewide trade association dedicated www.betterhealthconnector.com 75 North Dr. NATIONAL ASSOCIATION OF MINORITY to promoting and protecting the retail Westborough, MA 01581 CONTRACTORS - NEW ENGLAND industry through government relations and MASSACHUSETTS LIFE SCIENCES CENTER 617-371-3999 CHAPTER * money-saving benefits for members. 1000 Winter St. www.masstech.org Michael Jefferson, Executive Director Waltham, MA 02451 An innovative public economic development One Federal St. ROXBURY INNOVATIVE CENTER, ROXBURY, 781-373-7777 agency working to support a vibrant, Springfield, MA 01105 MA www.masslifesciences.com growing economy across Massachusetts. 860-278-7850 http://roxburyinnovationcenter.org/ Our strength stems from partnerships and [email protected] The Roxbury Innovation Center is a MASSACHUSETTS LATINO CHAMBER OF industry insights. We develop meaningful The National Association of Minority landmark project for the city of Boston. COMMERCE collaborations across industry, academia Contractors - NE Chapter works to increase this project supports local economic Corporate Office and government which serve as powerful the economic footprint of minority owned development by encouraging innovation 1655 Main St., Ste 201 catalysts, turning good ideas into economic constructions firms through training & and entrepreneurship Springfield, MA 01103 opportunity. development, collaborative strategies and 413-746-1989 political advocacy. www.malcc.com

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 65 OTHER ASSISTANCE

SECRETARY OF THE COMMONWEALTH THE NATHAN HALE VETERANS OUTREACH U.S. INTERNAL REVENUE SERVICE MASSACHUSETTS BIOMEDICAL 800-392-6090 CENTERS FK Federal Bldg. INITIATIVES 763 State Rd. 15 New Sudbury St. 60 Prescott St. SMALL BUSINESS SERVICE BUREAU, INC. Plymouth, MA 02360 Boston, MA 02203 Worcester, MA 01605 NATIONAL OPERATIONS CENTER 508-224-0100 617-316-2850 508-797-4200 554 Main St. www.thenathanhaleveteransoutreachcenter. www.irs.gov MBI is a private, independent economic Worcester, MA 01608 com Provides federal tax questions, tax forms development organization that serves as 800-343-0939 and publications. a catalyst for life science and healthcare The Small Business Service Bureau improves THE VENTURE FORUM innovation. We help start biomedical the business climate for small businesses 306 Main St. #400 VENTURE DEVELOPMENT CENTER companies and create jobs within the through its programs, services and active Worcester, MA 01605 3 University of Massachusetts – Boston Biotechnology, Medical Device, Informatics, Legislative Advocacy program. SBSB www.theventureforum.org 100 Morrissey Blvd. and Biomanufacturing industry by offers members high-quality business Boston, MA 02125 providing secure, clean bench and sink and financial products and services at U.S. DEPARTMENT OF AGRICULTURE 617-287-6070 surface, staff trained and fully licensed competitive prices, serving as the small (USDA) http://www.umb.edu/vdc laboratory space for usage by “seed stage” business owner’s single source for all his or Massachusetts/Rhode Island/Connecticut Technology and life science startups companies. Building and maintaining her small business needs. 451 West St. launching at the Venture Development collaborative affiliations and partnerships Amherst, MA 01002-2999 Center have an 86% success rate, raising an are essential to our success. SMALLER BUSINESS ASSOCIATION OF 800-352-8015 Toll Free or 413-253-4300 average of $3,022,429! NEW ENGLAND 413-253-4347 Fax WCTI - WORCESTER CLEANTECH 1601 Trapelo Rd., Ste. 212 www.rurdev.usda.gov/ma/ VETERAN BUSINESS OWNERS INITIATIVE INCUBATOR Waltham, MA 02451 Michael Fitzgerald, President 44 Portland St. 781-890-9070 U.S. DEPARTMENT OF COMMERCE 200 Springs Rd., Rm. 116B Worcester, MA 01608 www.sbane.org INTERNATIONAL TRADE ADMINISTRATION Bedford, MA 01730 508-344-1608 JFK Federal Bldg. 781-983-3728 Worcester CleanTech Incubator’s mission SMARTER IN THE CITY 55 New Sudbury St., Ste. 1826A [email protected] is to foster the growth of new enterprises Roxbury, MA Boston, MA 02203 www.veteranbusinessowners.org to address the most pressing issues of our http://www.smarterinthecity.com/ 617-565-4301 time. We believe that entrepreneurship is At our exciting co-work space located in a http://www.export.gov/Massachusetts/ VETERAN ENTREPRENEURSHIP TRAINING the lifeblood of innovation and the key to converted triple-decker in Dudley Square, Promotes international trade; provides AND RESOURCE NETWORK society’s transition towards sustainability. we support local entrepreneurs from market research, trade leads and counseling. www.vetrn.org/ WCTI provides both the physical and underrepresented communities as they VETRN provides, free of charge, enrollment network resources companies need to develop and grow their tech businesses. U.S. DEPARTMENT OF LABOR STATISTICS in a veteran specific intensive business propel their ideas to market. BOSTON REGIONAL OFFICE training program, the national award Founded and operated by the Institute SOUTH COAST BUSINESS JFK Federal Bldg., Rm. E-310 winning StreetWise ‘MBA’ program. for Energy and Sustainability, we are INFORMATION CENTER Boston, MA 02203 a community in the heart of central C/O SMALL BUSINESS DEVELOPMENT 617-565-2327 WORCESTER BUSINESS RESOURCE Massachusetts dedicated to building CENTER www.dol.gov ALLIANCE change. The WCTI facility, located in the 200 Pocasset St. Information on wage & hour laws; health Worcester City Hall Printers Building at 44 Portland Street in Fall River, MA 02721-1585 and safety regulations. 455 Main St., 4th Fl. Worcester, provides over 10,000 square 508-673-9783 • 508-674-1929 Fax Worcester, MA 01608 feet that offers private offices, co-working U.S. FISH AND WILDLIFE SERVICE 508-929-1300 space, conference rooms, event space, and SPARK NORTHEAST REGIONAL OFFICE http://www.worcesterma.gov/development/ prototyping labs. 177 High St. 300 Westgate Center Dr. business-assistance/business-resource- Holyoke, MA 01040 Hadley, MA 01035-9587 alliance THE WORCESTER IDEALAB 413-534-3376 413-253-8200 20 Franklin St. www.sparkholyoke.com www.fws.gov/ Other Business Assistance Worcester, MA 01608 SPARK helps people turn their business The U.S. Fish and Wildlife Service is a 774-239-7782 concepts into reality, by linking them to the bureau within the Department of the in Worcester The Worcester Idea Lab is an event space OTHER ASSISTANCE right local resources to get on the path to Interior. This bureau works with others to in Worcester’s developing downtown RUNNING START success. Whether its access to live events, conserve, protect and enhance fish, wildlife that seeks to become a center known for 95 Prescott St. classes, connection to resources, or our and plants and their habitats for the collaboration and innovation. Operated Worcester, MA 01605 accelerator program our goal is to create an continuing benefit of the American people. by local nonprofit Action! Worcester, the 774-312-7569 entrepreneurial community that supports Idea Lab seeks to provide/rent the space to [email protected] the growth and creation of ideas U.S. GENERAL SERVICES ADMINISTRATION companies, organizations, and individuals Housed in a reclaimed mill building REGIONAL SERVICE CENTER for a variety of events and uses. in the Gateway Park neighborhood of TECHSANDBOX INC. Thomas P. O’Neill Federal Bldg. Worcester, Running Start is a co-working 105B South St. 10 Causeway St., Rm. 1087 incubator space conveniently located Hopkinton, MA 01748 Boston, MA 02222 near Union Station, Downtown and a 508-485-7263 617-565-8100 growing population of retail and dining Hub for science and technology startups www.gsa.gov establishments. The workspace is constantly in the I495, I90, Rt. 9 MetroWest Corridors Front door to contracting opportunities evolving to deliver the amenities and of MA. Programs, panels and networking, with GSA. Call to make an appointment. environment that its co-working members start-up incubator want.

66 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma SBA PARTICIPATING LENDERS

ADAMS COMMUNITY BANK BAYCOAST BANK (EXP,EX) CAPE ANN SAVINGS BANK (EXP) COMMERCE BANK & TRUST CO. ENTERPRISE BANK (EXP,EX) (EXP) P.O. Box 1311 109 Main St. (PLP,EXP,EX) 237 Littleton Rd. 2 Center St. Fall River, MA 02722 Gloucester, MA 01930 386 Main St. Westford, MA 01886 SBA PARTICIPATING LENDERS Adams, MA 01220 508-675-4377 978-283-0246 Worcester, MA 01608 978-656-5630 413-749-1125 508-797-6807 BERKSHIRE BANK (PLP,EXP,EX) CAPE COD FIVE CENTS SAVINGS EQUITABLE COOPERATIVE BANK ALIGN CU (EXP) 24 North St. BANK (EXP,EX) COUNTRY BANK FOR SAVINGS 400 Broadway 40 Market St. Pittsfield, MA 01202 171 Falmouth Rd. (EXP) Lynn, MA 01904 Lowell, MA 01852 413-236-3288 Hyannis, MA 02610 75 Main St. 781-599-5600 978-275-2701 508-247-2389 Ware, MA 01082 BEVERLY BANK (PLP,EXP) 413-277-2066 EVERETT CO-OPERATIVE BANK ATHOL SAVINGS BANK (PLP,EXP) 73 Lafayette St. CATHAY BANK (PLP,EXP,EX) (EXP) 196 Timpany Blvd. Salem, MA 01970 621 Washington St. CRESCENT CREDIT UNION (EXP) 419 Broadway Gardner, MA 01440 978-921-2397 Boston, MA 02111 P.O. Box 4290 Everett, MA 02149 978-632-7903 617-338-4700 Brockton, MA 02303 617-387-1110 BLUE HILLS BANK (EXP,EX) 508-408-6305 AVIDIA BANK (EXP,EX) 1920 Centre St. CEI 7(A) FINANCING. LLC FARM CREDIT EAST 100 East Main St. West Roxbury, MA 02062 30 Federal St., Ste. 300 DEAN BANK (EXP) P.O. Box 720 Westborough, MA 01581 617-360-6599 Brunswick, ME 04011 21 Main St. Middleboro, MA 02346 978-567-3669 207-209-0294 Franklin, MA 02038 508-946-4455 BOSTON PRIVATE BANK & 508-528-0088 BANK OF AMERICA (PLP,EXP,EX) TRUST CO. (PLP,EXP,EX) CENTRAL ONE FEDERAL CREDIT FIDELITY BANK (PLP,EXP,EX) 10 Mall Rd. Ten Post Office Square UNION (EXP,EX) DEDHAM INSTITUTION FOR 9 Leominster Connector Burlington, MA 01803 Boston, MA 02109 714 Main St. SAVINGS (EXP) Leominster, MA 01453 800-263-2055 617-912-4252 Shrewsbury, MA 01545 55 Elm St. 978-870-1436 508-841-0698 Dedham, MA 02026 BANK OF CANTON (PLP,EXP) BRAINTREE CO-OPERATIVE 781-329-6700 ext. 835 FIRST CITIZENS FEDERAL CREDIT 490 Turnpike St. BANK CENTURY BANK (PLP,EXP,EX) UNION (EXP) Canton, MA 02021 1010 Washington St. 400 Mystic Ave. DIGITAL FEDERAL CREDIT UNION 200 Mill Rd., Ste. 100 781-830-6220 South Braintree, MA 02184 Medford, MA 02155 (PLP,EXP,EX) Fairhaven, MA 02719 781-843-1370 781-393-6058 220 Donald Lynch Blvd. 774-628-7817 BANK OF CAPE COD (EXP,EX) Marlboro, MA 01752 1582 Iyannough Rd. BRIDGEWATER CREDIT UNION CHARLES RIVER BANK (EXP,EX) 508-804-9512 FIRST COMMONS BANK Hyannis, MA 02601 (EXP) 70 Main St. (EXP,EX) 508-568-2303 75 Main St. Medway, MA 02053 EAGLE BANK (EXP) 161 Linden St. Bridgewater, MA 02324 508-533-8661 350 Broadway Wellesley, MA 02482 BANK OF NEW ENGLAND 508-279-2406 Everett, MA 02149 617-243-4415 3 Pelham Rd. CHICOPEE SAVINGS BANK 617-394-3631 Salem, MA 03079 BRIDGEWATER SAVINGS (PLP,EXP) FIRST IPSWICH BANK 603-894-5700 (PLP,EXP,EX) 70 Center St. EAST BOSTON SAVINGS BANK 31 Market St. 756 Orchard St. Chicopee, MA 01013 (PLP,EXP,EX) Ipswich, MA 01938 BANK RHODE ISLAND (PLP,EXP) Raynham, MA 02767 413-598-3157 10 Elm St. 978-356-8153 One Turks Head Pl., 16th Fl. 508-884-3348 Salem, MA 01923 Providence, RI 02903 CITIZENS BANK (PLP,EXP,EX) 978-977-6006 FIRST NIAGARA BANK 401-456-5000 BRISTOL COUNTY SAVINGS 480 Jefferson Blvd. (PLP,EXP,EX) BANK (PLP,EXP) Warwick, RI 02886 EAST CAMBRIDGE SAVINGS 225 Park Ave. BANKFIVE (PLP,EXP,EX) 215 Pleasant St. 401-468-6127 BANK (EXP,EX) West Springfield, MA 01089 79 Main St. Fall River, MA 02721 344 Cambridge St. 413-747-1295 Fall River, MA 02720 508-678-1862 CLINTON SAVINGS BANK Cambridge, MA 02141 774-888-6129 200 Church St. 617-551-2420 FIRST PRIORITY CREDIT UNION BROOKLINE BANK (EXP) Clinton, MA 01510 (EXP) BANKGLOUCESTER (PLP,EXP) 131 Clarendon St. 978-365-3475 EAST WEST BANK (PLP,EXP,EX) 100 Swift St. 160 Main St. Boston, MA 02117 2223 Washington St. East Boston, MA 02128 Gloucester, MA 01930 617-927-7961 COASTAL HERITAGE BANK Newton, MA 02462 800-949-7628 ext. 1228 978-675-9929 195 Washington St. 617-340-8313 BUSINESS LENDERS, LLC (PLP) Weymouth, MA 02188 FLORENCE SAVINGS BANK BANKNEWPORT (EXP,EX) 50 State House Sq. 781-682-4487 EASTERN BANK (PLP,EXP,EX) (PLP,EXP,EX) 500 W. Main Rd. Hartford, CT 06119 265 Franklin St. 85 Main St. Middletown, RI 02840 860-244-9202 COASTWAY COMMUNITY BANK Boston, MA 02110 Florence, MA 01062 401-845-8731 (PLP,EXP,EX) 617-897-1091 413-587-1724 CAMBRIDGE SAVINGS BANK One Coastway Plaza BARRE SAVINGS BANK (EXP) (PLP,EXP) Cranston, RI 02903 EASTHAMPTON SAVINGS BANK FREEDOM CREDIT UNION (EXP) P.O. Box 940 626 Massachusetts Ave. 401-455-3200 (EXP) 1985 Main St., Ste. 7 Barre, MA 01005 Arlington, MA 02138 241 Northampton St. Springfield, MA 01103 978-355-4135 617-575-8563 COLONIAL COOPERATIVE Easthampton, MA 01027 413-505-5735 6 City Hall Ave. 413-527-4111

BAY STATE SAVINGS BANK CAMBRIDGE TRUST COMPANY Gardner, MA 01440 GEORGETOWN BANK (EXP) EDGARTOWN NATIONAL BANK (PLP,EXP,EX) (PLP,EXP,EX) 978-632-0171 2 E. Main St. 28 Franklin St. 1336 Massachusetts Ave. (EXP) Georgetown, MA 01833 P.O. Box 96 Worcester, MA 01608 Cambridge, MA 02138 978-352-8600 Edgartown, MA 02539 508-890-9043 617-441-1451 508-627-4162

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 67 SBA PARTICIPATING LENDERS

GFA FEDERAL CREDIT UNION INDEPENDENCE BANK MECHANICS CO-OPERATIVE MILFORD FEDERAL SAVINGS MONSON SAVINGS BANK (PLP,EXP) (PLP,EXP,EX) BANK (PLP,EXP,EX) BANK AND LOAN ASSOCIATION (PLP,EXP,EX) P.O. Box 468 1370 S. County Tr. 15 W. Britannia St. 246 Main St. 197 Main St. Gardner, MA 01440 East Greenwich, RI 02818 Taunton, MA 02780 Milford, MA 01757 Monson, MA 01057 978-632-2542 ext. 1183 401-471-6300 508-884-2151 508-381-5228 413-267-1205

GREENFIELD COOPERATIVE INSTITUTION FOR SAVINGS MERRIMACK VALLEY FEDERAL MILFORD NATIONAL BANK AND MOUNTAINONE BANK BANK (PLP,EXP) (EXP,EX) CREDIT UNION (EXP) TRUST COMPANY (PLP,EXP,EX) (PLP,EXP,EX) 62 Federal St. 312 Haverhill Rd. 500 Merrimack St. P.O. Box 228 93 Main St. Greenfield, MA 01301 Rowley, MA 01969 Lawrence, MA 01843 Milford, MA 01757 North Adams, MA 02147 413-772-5000 978-225-1387 978-975-4095 508-244-5137 413-663-2189

MILLBURY FEDERAL CREDIT MUTUAL BANK (PLP,EXP,EX) GREENFIELD SAVINGS BANK JEANNE D’ARC CREDIT UNION METRO CREDIT UNION (EXP) UNION (EXP) 570 Washington St. (PLP,EXP) (EXP,EX) 200 Revere Beach Pkwy. 50 Main St. Whitman, MA 02382 400 Main St. 581 Merrimack St. Chelsea, MA 02150 Millbury, MA 01527 781-524-5044 Greenfield, MA 01032 Lowell, MA 01854 617-889-7736 508-865-7614 413-775-8153 978-323-4714 MUTUALONE BANK (PLP,EXP,EX) MIDDLESEX SAVINGS BANK MILLBURY NATIONAL BANK 160 Cochituate Rd. GREYLOCK FEDERAL CREDIT LEADER BANK (PLP,EXP) (PLP,EXP,EX) 18 Main St. Framingham, MA 01701 UNION (PLP,EXP,EX) 180 Massachusetts Ave. 6 Main St. Millbury, MA 01527 508-532-8353 150 West St. Arlington, MA 02474 Natick, MA 01760 508-865-9521 Pittsfield, MA 01201 781-646-3900 ext. 183 508-315-5424 NATIONAL GRAND BANK OF

SBA PARTICIPATING LENDERS 413-236-4810 MILLBURY SAVINGS BANK (EXP) MARBLEHEAD (EXP) LEE BANK (PLP,EXP) 109 Elm St. 91 Pleasant St. HAMPDEN BANK (EXP,EX) 75 Park St. Millbury, MA 01527 Marblehead, MA 01945 19 Harrison Ave. Lee, MA 01238 508-581-6257 781-631-6000 Springfield, MA 01103 413-243-9295 413-452-5148 LEOMINSTER CREDIT UNION AWARD Massachusetts Small Business Week HANSCOM FEDERAL CREDIT (EXP,EX) WINNERS UNION (EXP) 20 Adams St. 2015 Award Winners 1610 Eglin St. Leominster, MA 01453 & Hanscom AFB, MA 01731 978-466-7215 Small Business Person Massachusetts New England SBA 781-698-2186 of the Year Award Small Business Exporter of the Year LIBERTY BAY CU (PLP,EXP,EX) Todd Snopkowski Lester Hensley & Bashar HARBORONE BANK (PLP,EXP) 350 Granite St. Snapchef Moussallieh 770 Oak St. Braintree, MA 02184 Boston, MA EMSEAL Joint Systems Ltd. Brockton, MA 02303 617-439-6575 Westborough, MA 508-895-1292 Jeffrey Butland Family-Owned Small LOWELL FIVE CENT SAVINGS Business of the Year Massachusetts & New England SBA HAVERHILL BANK (EXP) BANK (EXP) Elaine J. Boone Financial Services Champion P.O. Box 1656 34 John St. Haverhill, MA 01830 Lowell, MA 01852 PTS Truck-Trailer-Construction Mary Katherine Mansfield 978-374-0161 978-441-6434 Equipment Supply Bay Colony Development Palmer, MA Corporation HOLBROOK COOP (PLP) MANSFIELD BANK (EXP) Waltham, MA 95 N. Franklin 80 N. Main St. Minority-Owned Small Business of the Holbrook, MA 02343 Mansfield, MA 02048 Year Massachusetts & New England SBA 781-767-1888 508-851-3653 Michael Chege & Raphael Bibiu Small Business Development Center Ace Medical Services, Inc. Excellence and Innovation Award HOLYOKE CREDIT UNION (EXP) MARBLEHEAD BANK (EXP,EX) 490 Westfield Rd. 21 Atlantic Ave. Worcester, MA Keith Girouard Holyoke, MA 01040 Marblehead, MA 01945 Massachusetts Small Business 413-532-7007 ext. 1125 781-631-5500 Woman-Owned Small Business of the Development Center Year Berkshire Regional Office HOME LOAN AND INVESTMENT MARLBOROUGH SAVINGS BANK Debra Heims Pittsfield, MA BANK, FSB (PLP,EXP,EX) (EXP) H&S Environmental, Inc. One Home Loan Plaza, Ste. 3 178 Main St. Marlborough, MA 01752 Westborough, MA Massachusetts & New England SBA Warwick, RI 02886 8(a) Graduate of the Year 800-722-5671 508-460-4154 Microenterprise Business of the Year Hector Sanchez HOMEFIELD CREDIT UNION (EXP) MARTHA’S VINEYARD SAVINGS Matthew & Tina Phaneuf P&S Construction, Inc. 86 Worcester St. BANK (EXP) BioSurfaces, Inc. Chelmsford, MA North Grafton, MA 01536 P.O. Box 1069 Ashland, MA 508-839-5493 Edgartown, MA 02539 Massachusetts SBA District Director 508-627-1346 Region 1 Prime Contractor of the Year Award HOMETOWN BANK (PLP,EXP) Robert J. Viamari 31 Sutton Ave. MASS. BUSINESS DEVELOPMENT Arthur Mabbett Oxford, MA 01540 (PLP) Mabbett & Associates, Inc. Cape & Plymouth Business 500 Edgewater Dr., Ste. 555 508-499-1886 Bedford, MA Magazine Wakefield, MA 01880 Yarmouth Port, MA 781-928-1133

68 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma SBA PARTICIPATING LENDERS

NBT (PLP,EXP,EX) NUVO BANK & TRUST (EXP) ROCKPORT NATIONAL BANK SPENCERBANK (PLP,EXP,EX) WALPOLE CO-OPERATIVE BANK 54 North St. 1500 Main St. (EXP) 176 Main St. (EXP) Pittsfield, MA 02101 Springfield, MA 01115 16 Main St. Spencer, MA 01562 982 Main St. SBA PARTICIPATING LENDERS 413-448-6162 ext. 101 413-787-2724 Rockport, MA 01966 508-885-5313 Walpole, MA 02081 978-309-1261 508-660-6549 NEEDHAM BANK PATRIOT COMMUNITY BANK ST. ANNE’S CREDIT UNION OF 1063 Great Plain Ave. 237 Lexington St. ROLLSTONE BANK & TRUST FALL RIVER (EXP) WASHINGTON SAVINGS BANK Needham, MA 02492 Woburn, MA 01801 (PLP,EXP) 286 Oliver St. 100 Broadway 781-474-5438 781-404-1207 780 Main St. Fall River, MA 02724 Dracut, MA 01826 Fitchburg, MA 01420 508-991-4446 978-275-6000

NEWBURYPORT FIVE CENTS PENTUCKET BANK (PLP,EXP,EX) 978-353-2805 WASHINGTON TRUST COMPANY SAVINGS BANK One Merrimack St. ST JEAN’S CREDIT UNION (EXP) (PLP,EXP,EX) 63 State St. Haverhill, MA 01830 RTN FEDERAL CREDIT UNION 370 Highland Ave. 23 Broad St. Newburyport, MA 01950 978-556-5447 (EXP) Salem, MA 01970 Westerly, RI 02891 978-462-3136 600 Main St. 978-219-1029 401-348-1396 PEOPLE’S FEDERAL SAVINGS Waltham, MA 02452 NEWTEK SMALL BUSINESS BANK 781-736-9975 ST. MARY’S CREDIT UNION WEBSTER BANK (PLP,EXP,EX) FINANCE, INC. (PLP,EXP,EX) P.O. Box 35036 (PLP,EXP) 609 West Johnson Ave. 462 Seventh Ave., 14th Fl. Brighton, MA 02135 SAGE BANK 46 Lizotte Dr. Cheshire, CT 06410 New York, NY 10018 617-254-0707 15 Hurd St. Marlborough, MA 01752 203-271-7344 212-356-9510 Lowell, MA 01852 508-490-6747 PEOPLE’S UNITED BANK 978-322-7043 WEBSTER FIRST FEDERAL NORTH BROOKFIELD SAVINGS (PLP,EXP,EX) STCU CREDIT UNION CREDIT UNION (EXP) BANK (PLP,EXP) 491 Shrewsbury St. SALEM FIVE CENTS SAVINGS 145 Industry Ave. 271 Greenwood 35 Summer St. Worcester, MA 01604 BANK (PLP,EXP,EX) Springfield, MA 01104 Worcester, MA 01607 North Brookfield, MA 01535 508-890-5173 210 Essex St. 413-732-9812 508-671-5122 508-867-0732 Salem, MA 01970 PEOPLESBANK (EXP) 978-720-5260 TD BANK (PLP,EXP,EX) WEBSTER FIVE CENTS SAVINGS NORTH EASTON SAVINGS BANK 330 Whitney 17 New England Executive Park BANK (EXP) (EXP) Holyoke, MA 01040 SALISBURY BANK & TRUST Burlington, MA 01803 100 Front St., Ste 1900 20 Eastman St. 413-493-8697 (EXP) 978-989-2407 Worcester, MA 01608 South Easton, MA 02375 210 Main St. 508-438-4725 508-297-8012 PILGRIM BANK (EXP) Great Barrington, MA 01230 THE COOPERATIVE BANK (EXP) 40 S. Main St. 860-596-2470 40 Belgrade Ave. WELLESLEY COOPERATIVE BANK NORTH MIDDLESEX SAVINGS Cohasset, MA 02025 Roslindale, MA 02131 (EXP,EX) BANK (EXP) 781-236-0908 SANTANDER BANK (PLP,EXP,EX) 857-203-9509 40 Central St. P.O. Box 469 19 Pleasant St. Wellesley, MA 02482 Ayer, MA 01432 PITTSFIELD COOPERATIVE BANK Woburn, MA 01801 THE COOPERATIVE BANK OF 781-237-7221 978-772-8502 ext. 1121 (EXP) 617-953-9135 CAPE COD (EXP) 70 South St. 695 Attucks Ln. WELLS FARGO & COMPANY NORTH SHORE BANK (EXP,EX) Pittsfield, MA 02101 SAVERS BANK Hyannis, MA 02601 (PLP,EXP,EX) 248 Andover St. 413-629-1630 P.O. Box 250 508-568-1217 200 Berkeley St., 23rd Fl. Peabody, MA 01960 Southbridge, MA 01550 Boston, MA 02116 978-538-7052 RADIUS BANK (PLP,EXP,EX) 508-765-7389 THE SAVINGS BANK (EXP,EX) 857-260-1954 One Harbor St., Ste. 201 357 Main St. Northeast Bank (PLP,EXP) Boston, MA 02210 SEAMEN’S BANK (EXP) Wakefield, MA 01880 WESTFIELD BANK (PLP,EXP,EX) 200 Berkeley St. 617-728-7320 P.O. Box 659 781-486-5309 141 Elm St. Boston, MA 02116 Provincetown, MA 02657 Westfield, MA 01085 207-786-3245 ext. 3267 RANDOLPH SAVINGS BANK 508-487-8424 UNIBANK FOR SAVINGS 413-568-1911 (EXP,EX) (PLP,EXP) NORTHEAST COMMUNITY BANK 10 Cabot Place SHARON CREDIT UNION 24 Gold Star Blvd. WEYMOUTH BANK (EXP) 66 Elm St. Stoughton, MA 02072 30 Pond St. Worcester, MA 01605 744 Broad St. Danvers, MA 01923 781-573-1356 Sharon, MA 02067 508-849-4340 East Weymouth, MA 02189 978-716-3225 781-793-2778 781-337-8000 READING CO-OPERATIVE BANK UNITED BANK (EXP,EX) NORTHERN BANK & TRUST (EX) SOUTH SHORE BANK 95 Elm St. WINTER HILL BANK COMPANY (EXP) 180 Haven St. (PLP,EXP,EX) West Springfield, MA 01090 342 Broadway 275 Mishawum Rd. Reading, MA 01867 1530 Main St. 413-726-2328 Somerville, MA 02145 Woburn, MA 01801 781-670-1579 South Weymouth, MA 02190 617-666-8600 781-937-5400 781-682-3283 UPS CAPITAL (PLP,EXP,EX) ROCKLAND FEDERAL CREDIT 425 Day Hill Rd. WORKERS’ CREDIT UNION SOUTHBRIDGE CREDIT UNION NORTHMARK BANK (EXP) UNION Windsor, CT 06095 (PLP,EXP,EX) 89 Turnpike St./P.O. Box 825 241 Union St. (EXP) 860-687-2718 815 Main St. 155 Main St. North Andover, MA 01845 Rockland, MA 02370 Fitchburg, MA 01420 Southbridge, MA 01550 978-686-9100 800-562-7328 VILLAGE BANK (EXP) 978-353-7176 508-909-7194 319 Auburn St.

NORWOOD BANK ROCKLAND TRUST (PLP,EXP,EX) Auburndale, MA 02466 Preferred Lender = PLP SOUTHBRIDGE SAVINGS BANK 11 Central St. 2036 Washington St. 617-340-1211 Express Lender = EXP (PLP,EXP,EX) Norwood, MA 02062 Hanover, MA 02339 7-11 Elm St. Export Lender = EX 781-440-4272 781-982-6546 Southbridge, MA 01550 508-764-0079

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 69 70 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 71 BUSINESS DIRECTORY

72 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma BUSINESS DIRECTORY

Visit us online: www.sba.gov/ma Massachusetts Small Business Resource — 73 BUSINESS DIRECTORY

74 — Massachusetts Small Business Resource Visit us online: www.sba.gov/ma On the Cover: Success is the Spice of Life for Owner of Greek Goddess Products IZ!!HVd0$?l$m$V+T-$=.,3$/""7%#-),-)#*$(-/"#-$<-#0$U9.,2-1+,-$Q",1-3$1+T-7$=.T+,2$<-#$<"=-=.7-$*.1.7$7#-**+,2$.,7$=.#+,.7-$/"#$ <-#$/#+-,7*$.,7$/.=+13$/"#$*%-4+.1$2.'<-#+,2*$.,7$"44.*+",*5$[<-+#$%"*+'+9-$#-.4'+",$'"$'<-$#-4+%-$2.9-$<-#$'<-$="'+9.'+",$.,7$+7-.$'"$*'.#'$ <-#$":,$()*+,-**5$ c<-,$Q",1-3$/"),7-7$Y#--T$Y"77-**$N#"7)4'*0$P,45$+,$FCCk0$*<-$#-.4<-7$")'$-.#13$/"#$2)+7.,4-$",$<":$'"$2-'$*'.#'-75$K<-$1-.#,-7$ .(")'$'<-$K=.11$I)*+,-**$a-9-1"%=-,'$Q-,'-#$DKIaQE$.'$I)//.1"$K'.'-$Q"11-2-$/#"=$.$/#+-,7$:<"$*)22-*'-7$*<-$*'.#'$'<-#-5$][<-$&#*'$ '<+,2$P$7+7$:.*$'.T-$.$4")#*-$'<#")2<$'<-$KIaQ5$P'$:.*$.$*'.#'R)%$:"#T*<"%$.11":+,2$=-$'<-$"%%"#'),+'3$'"$1-.#,$.(")'$(.1.,4-$*<--'*0$ %#"&'*$.,7$1"**0$.,7$:.3*$'"$=.#T-'$=3$()*+,-**0^$*.3*$Q",1-35$]H*$.$()*+,-**$":,-#0$+'>*$*"$+=%"#'.,'$'"$1-.#,$.(")'$=.,.2+,2$3")#$ &,.,4-*$.,7$<":$'"$.%%#".4<$1-2.1$/--*$.,7$'#.7-=.#T$1.:*5^$ H*$.$#-*)1'$"/$'<-$.**+*'.,4-$'<.'$Q",1-3$#-4-+9-7$/#"=$'<-$I)//.1"$K'.'-$KIaQ0$*<-$:.*$.(1-$'"$(-2+,$("''1+,2$Y#--T$Y"77-**$K.1.7$ a#-**+,2$.,7$@.#+,.7-$4"==-#4+.1135$["7.30$'<-$7#-**+,2$+*$*'"4T+,2$'<-$*<-19-*$"/$1"4.1$*'"#-*0$7-1+*$.,7$=.#T-'*$+,$.,7$.#"),7$ c-*'-#,$?-:$l"#T5$]P'>*$.$),+;)-$(1-,7$"/$"1+9-$"+10$9+,-2.#$.,7$*%+4-*0$.11$,.')#.1$+,2#-7+-,'*0^$*.+7$Q",1-35$]d)#$4)*'"=-#*$1"9-$)*+,2$+'$ .*$*.1.7$7#-**+,20$=-.'\%")1'#3\9-2-'.(1-$=.#+,.7-0$.,7$*+=%13$7+%%+,2$(#-.75^$ Q",1-30$.,$-,4"#-$-,'#-%#-,-)#0$<.*$:"#T-7$:+'<$'<-$4-,'-#$*+,4-$<-#$*'.#'R)%0$*--T+,2$.79+4-$.,7$4+'+,2$ +'$.*$.$9+'.1$*'-%$'"$2#":+,2$<-#$()*+,-**5$K<-$4#-7+'*$<-#$/"#=-#$()*+,-**$.79+*"#$n"<,$@4T-",-$"/$'<-$ I)/.1"$K'.'-$Q"11-2-$KIaQ$/"#$'<-$*)44-**$*<-$-,b"3*$'"7.35$ ]c-$.#-$*--+,2$="#-$.,7$="#-$-,4"#-$-,'#-%#-,-)#*$*'-%$+,'"$()*+,-**0^$*.3*$KIH$I)//.1"$a+*'#+4'$ a+#-4'"#$!#.,T1+,$K4+"#'+,"5$]d,-$+,$/")#$+,7+9+7).1*$.2-*$SS$'"$JC$+*$+,'-#-*'-7$+,$(-4"=+,2$.,$-,'#-%#-,-)#$ .,7$hM$%-#4-,'$"/$H=-#+4.,*$%1.,$'"$:"#T$7)#+,2$#-'+#-=-,'5$KIH$.,7$HHeN$b"+,-7$/"#4-*$+,$FCBF$'"$ #-.4<$")'$'"$(.(3$(""=-#*$.,7$%#"9+7-$'<-=$:+'<$'<-$,-4-**.#3$'#.+,+,2$.,7$=-,'"#+,2$*-#9+4-*$/"#$"17-#$ -,'#-%#-,-)#*$'"$*'.#'$"#$2#":$'<-+#$*=.11$()*+,-**-*$.,7$4#-.'-$b"(*0$b)*'$1+T-$U9.,2-1+,-$Q",1-3$7+75^ $Q",1-3$+*$-6'#-=-13$%#")7$"/$[<-$Y#--T$Y"77-**$N#"7)4'*$*)44-**-*0$.,7$*<-$+*$*-#+")*$:<-,$*<-$)#2-*$ "'<-#$()*+,-**-*$'"$*--T$")'$#-*")#4-*$/"#$2#":'<5$]a",>'$(-$./#.+7$"/$#-b-4'+",0^$*<-$*.+75$]@.T-$*)#-$3")#$ ()*+,-**$+*$*"=-'<+,2$3")$1"9-0$*--T$")'$<-1%$.,7$/--1$2""7$.(")'$:<.'$3")$7"5^$ www.SBA.gov • connect with us @ facebook.com/SBAgov twitter.com/sbagov youtube.com/sba