SBA Forum Offers Tips To Small Businesses In Croton

From SBA: The U.S. Small Business Administration (SBA) was in Croton-on-Hudson on September 26, 2018, informing small business owners of its variety of resources available throughout the Hudson Valley.

SBA, which has been around since 1953, is the only economic development organization in the nation backed by the full faith of the United States government. SBA offers a loan guarantee to small business lenders which encourages these organizations to make loans they might otherwise not make. The federal agency also provides grant money to not-for profit small business centers that employ professional business advisors that help small business owners make their entrepreneurial dreams a reality.

Beth Goldberg, Director of the New York SBA Office, said SBA helps small business “start, grow and expand.”

“Last year,” Goldberg said, “SBA guaranteed more than $1 billion in small business loans to businesses throughout New York City, Long Island and the lower Hudson Valley. SBA supports several small business resource centers like those that are here with us today – the Small Business Development Center (SBDC) at Rockland Community College, the Women’s Business Center (WBC) in Westchester Country, SCORE mentors throughout the Hudson Valley and the Procurement Technical Assistance Center (PTAC) in Rockland County.”

The goal of the day, Goldberg added, was to get the word out that SBA is “here to help.”

A dozen small business owners attended the Croton-on-Hudson event. Community Capital New York, Webster Bank, New York Business Development Corporation (NYBDC) and Trustco Bank were also in attendance. These organizations utilize SBA’s loan guarantee to make small business loans that don’t conform to their typical underwriting criteria.

The event was held at the Croton Yacht Club.

At one point during the day, Goldberg called on Leo Wiegman, Executive Vice President of Croton Energy Group, to hypothetically “pitch” his business “shark tank style” to the panel of small business lenders. Wiegman told about his need for more storage space and vehicles for his company.

“It was really helpful to hear the lenders’ feedback to my financing needs. It actually helped me clarify what it is I’m looking for and how I would spend that money,” Wiegman said.

Croton-on-Hudson Mayor, Brian Pugh, was also in attendance. He welcomed SBA and the variety of resources that were in the room for the day.

"A rising tide lifts all boats,” Mayor Pugh said. “Small business creates jobs, builds local wealth and grows our tax base. That's why I am glad that the SBA is offering our local businesses and entrepreneurs the tools they need to succeed. "

Images via SBA