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] Introduction 6 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 Gary Shellehamer 50 SBA Contracting Programs [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 endorsement of the views, opinions, products or 18 SBA Resource Partners Knowing the Types of Assistance 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 liable for any damages arising from the use of Choosing your Structure 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