Showing posts with label underserved. Show all posts
Showing posts with label underserved. Show all posts

Thursday, May 12, 2011

SBA Announces 15 Appointments to Advisory Council on Underserved Communities

Fifteen individuals from across the country have been appointed to the U.S. Small Business Administration’s [SBA] Council on Underserved Communities [CUC].

Building on SBA’s core programs and Recovery initiatives, the CUC will provide input, advice and recommendations on strategies to help strengthen competitiveness and sustainability for small businesses in underserved communities. These strategies will be focused on increasing entrepreneurship and technical assistance; creating new, and strengthening existing, outreach and training; and raising awareness in underserved communities of SBA programs and services.

The CUC is chaired by Catherine Hughes [pictured], founder and chairperson of Radio One and TV One, and will have 20 members who represent a diverse range of backgrounds and geographic areas.

"One of SBA’s core missions is to support small businesses in traditionally underserved communities -- including minorities, women, veterans, people with disabilities, and in rural areas," said SBA Deputy Administrator Marie Johns. "The Council on Underserved Communities will provide valuable insight and advice into how we can ensure that small businesses in these communities throughout the country have access to the tools they need to grow, create jobs and win the future."

The CUC’s first meeting will be held in July, in Washington, DC. Before the first meeting, members of the CUC will hold listening sessions in their regions to hear from small-business owners and members of the community about what they need from the SBA.

"Thirty years ago, I grew my business with the help of an SBA loan," said Hughes. "Now, I’m so pleased to be chairing the Council on Underserved Communities, and help entrepreneurs in communities across the country take advantage of those same opportunities for success."

The CUC is part of the SBA’s ongoing efforts to expand its reach into underserved communities. While the nation’s economic recovery is moving forward, that recovery has been uneven --particularly for socially, economically and geographically disadvantaged small-business owners. To help SBA better address the challenges facing small-business owners, the CUC will meet regularly and advise SBA on ways to increase access to capital, and promote sustainability, growth, and job creation.

The 15 Newly Appointed Members of the SBA's New Council on Underserved Communities:
* Dr. Hassell McClellan is an associate professor and former associate dean of Boston College’s Carroll School of Management. He has previously worked in corporate banking with Harris Trust in Chicago and as a faculty member at the Harvard Business School. McClellan’s specialties include strategic management and global competitiveness. He is the author of several case studies, as well as a book on the banking industry, "Managing One-Bank Holding Companies."

* Dasil "Das" Elius Velez is currently serving as a senior executive in New York Governor Andrew M. Cuomo’s administration with the Empire State Development Corporation, as the executive director of Minority and Women Business Development. Prior to Velez’s appointment, he served as senior advisor to Gov. David A. Paterson. He has also held a number of executive positions in public service sector and was a founding partner of Carro, Velez, Carro and Mitchell LLP, which became New York City's largest Latino law firm.

* B. Doyle Mitchell Jr. serves as president and CEO of Industrial Bank in Washington, D.C. Mitchell is chairman of the National Bankers Association and the D.C. Chamber of Commerce Foundation. He serves as a board member for the Greater Prince George’s Business Roundtable, the Council for Court Excellence, the Minbanc Foundation and the Sewell Music Conservatory.

* Eric Collins, COO of Mobile Posse in McLean, Va., is a veteran of the mobile software industry. Prior to his work at Mobile Posse, Collins led the Tegic business unit for Nuance Communications. Eric also headed marketing for Nuance’s Mobile Division. Following law school, Eric worked as a strategy consultant for technology and entertainment companies before launching a career in mobile technology at AOL.

* Derek S. Hyra is an associate professor of Urban Affairs and Planning at Virginia Tech. His research focuses on inner-city economic development, with an emphasis on national housing policy, urban politics, affordable housing and small-business finance, poverty, and race. Hyra previously worked at the U.S. Department of the Treasury, assessing affordable housing and small-business lending programs; and at the U.S. Department of Housing and Urban Development, examining the community-level impact of national urban legislation. He currently serves as the vice chairman of the board of commissioners for the Alexandria Redevelopment and Housing Authority.

* Ron Busby Sr. is president of the United States Black Chamber of Commerce Inc. Prior to coming to Washington, D.C., he was the president of the Greater Phoenix Black Chamber of Commerce, and served as the president of the 100 Black Men of the Bay Area [Oakland, Cal.]. Recognized as one of the country’s best CEOs, Busby grew his first business, USA Super Clean, from $150,000 annual revenue to over $15 million per year. He has served as co-chair of the XLII Super Bowl Host Committee and on the board of directors of the Arizona Governor’s African American Leadership Council.

* Dr. Randy Blass is a faculty member of The Jim Moran Institute for Global Entrepreneurship, and the program director for the Entrepreneurship Bootcamp for Veterans with Disabilities [EBV] Program -- all within the College of Business at Florida State University. Before joining the faculty at Florida State, he served as a lieutenant colonel in the U.S. Air Force. Blass specializes in power and influence in organizations, organizational socialization, and human resource management, and has more than 25 years of practical experience in designing and implementing training and development programs.

* Ned Fawaz, the founder and CEO of Energy International Corporation, is responsible for the expansion in worldwide business, including tactical and strategic sales. Beginning his career over 32 years ago, Dr. Fawaz has an extensive background in international business, and in the mechanical and electrical engineering and equipment industry. He studied mechanical engineering at York Institute in York, Penn., and worked for 10 years for York International. He was awarded an honorary doctorate degree [LLD] from Davenport University of Michigan, served in the U.S. Army, and was stationed in Germany for two years.

* Eddie Reyes serves as the historically underutilized business coordinator for the University of North Texas. Reyes was selected by the SBA as the 2010 National Minority Small Business Champion the Year. Reyes also serves as the chairman of the board of directors, Greater Grand Prairie Hispanic Chamber of Commerce.

* LeeAnn Marker is a business advisor for Hutchinson Credit Union and a small-business owner. As a commercial lender in a Kansas community with a population of approximately 45,000, Hutchinson has experienced first-hand the challenges facing America’s small businesses in today’s uncertain economic environment.

* Roni K. Wisdom is CFO for the San Luis Valley Development Resources Group, a nonprofit regional economic development organization that provides funding and counseling to small businesses, nonprofits and local governments. Wisdom previously worked as a manager and owner of small businesses, a business banker, and a small-business counselor. She spent much of her past 30 years in the banking field, with most of those years in "nontraditional" financing in the rural counties of Colorado.

* Hilda Kennedy serves as founder/executive director, AmPac Tri State Certified Development Company in Grand Terrace, Cal. -- a certified lender for the SBA’s 504 loan program and the first faith-based CDC in the country. Kennedy previously worked in local government in the city of Inglewood for more than 12 years as chief of staff to the mayor and city administrator, public information officer, and economic development director.

* Rod Hsiao is director of strategic operations for BUILD, a nationally recognized nonprofit that uses entrepreneurship to excite and propel disengaged, low-income students through high school to college success. He worked in economic development research at Harvard and Yale, then served as a senior legislative advisor in the U.S. Congress on international development and domestic policies. He led two statewide studies for Maine and Massachusetts to assess the needs of their manufacturers, and recommended ways to spur innovation and economic competitiveness. Subsequently he worked in management consulting for SRI Consulting and A.T. Kearney before returning to the nonprofit sector as a COO to help lead nonprofits involved in teaching business and management skills.

* Hugh Short serves as president and CEO of Alaska Growth Capital. He is also the current chairman of the Alaska Industrial Development Authority [AIDEA], a one-billion-dollar, state-owned economic development agency based in Anchorage, Alaska. Additionally, Short serves as the current treasurer of the Alaska Humanities Forum and Pacific Northern Academy. Past leadership positions include roles as mayor and member of the city council for the city of Bethel; vice president of support services for Yukon Kuskokwim Health Corporation; and managing partner of the Subway of Bethel. Active in many community service roles, Short is a founding member of the Alaskan Native Leadership Network, and has served as director of Yuut Elinaurviat [People’s Learning Center], Big Brothers and Big Sisters, and the University of Alaska Fairbanks, Kuskokwim Campus.

* Marilyn Strickland was sworn-in as mayor of Tacoma, Wash., on Jan. 5, 2010, and previously served as a city council member for two years. Born in Seoul, Korea, Strickland grew up in South Tacoma and has been a downtown resident for over a decade. She is a graduate of the University of Washington and holds a master’s degree in business administration from Clark-Atlanta University. Strickland has professional experience in both the private and public sectors. She served as development officer for the Tacoma Public Library, and has held management positions with the American Cancer Society, Starbucks Coffee Company and JayRay Communications, where she worked with Tacoma Public Utilities to help launch Click!Network. Strickland has been appointed to the U.S. Conference of Mayors Public Education Task Force. Active in the local community, she is a member of the Black Collective and previously served on the boards of KBTC Public TV Association, the Grand Cinema, and Safe Streets.

GoodBiz113's Take
SBA's formation of its CUC marks a significant step forward in sharing the wealth of small-business opportunities across diverse demographics.

Kudos to this highly impressive cadre of advisors for their willingness to serve for the greater entrepreneurial good.

SOURCE: U.S. Small Business Administration
____________________

Get 20% Off QuickBooks Pro Small Business Accounting Software + Free Shipping + Free Learning CD ^AF

Wednesday, December 15, 2010

SBA Announces Two New Initiatives to Boost Lending to Underserved Markets

While small-business owners and entrepreneurs in traditionally underserved communities continue to face challenges accessing capital, the U.S. Small Business Administration today announced two new initiatives aimed at increasing SBA-backed loans to small businesses in these markets.

SBA Administrator Karen Mills also today named Catherine L. Hughes [pictured], chairperson and founder of Radio One Inc. [NASDAQ: RAIO] -- and, in fact, a former SBA borrower -- to chair the agency’s new Advisory Council on Underserved Communities.

SBA and U.S. Department of Commerce studies have shown the importance of lower-dollar loans to small-business formation and growth in underserved communities.

With that in mind, the two new loan initiatives -- Small Loan Advantage, and Community Advantage -– are aimed at increasing the number of lower-dollar SBA 7[a] loans going to small businesses and entrepreneurs in underserved communities. The agency’s most popular loan product, 7[a] government-guaranteed loans, can be used for a variety of general business purposes -- including working capital, and purchases of equipment and real estate.

In conjunction with the implementation of these two new Advantage loan initiatives by March 15, the agency will end its existing Community Express pilot loan program on April 30.

"Over the last two years, we’ve seen lending to all small businesses tighten up, and that tightening has been even greater in traditionally underserved communities -- including among minorities, women and in rural areas," said Mills. "These new Advantage initiatives are aimed directly at getting more loans into these markets, so these small-business owners can get the capital they need to start or grow their business and create good-paying jobs in local communities across the country."

Built on what the agency refers to as its "Advantage" platform, both Small Loan Advantage and Community Advantage will offer a streamlined application process for SBA-guaranteed 7[a] loans up to $250,000. These loans will come with the regular 7[a] government guarantee; i.e., 85 percent for loans up to $150,000 and 75 percent for those greater than $150,000.

Small Loan Advantage will be available to the 630 financial institutions across the country in the agency’s Preferred Lenders Program [PLP]. Under PLP, which includes most of the agency’s highest-volume lenders, SBA delegates the final credit decisions to lenders.

With Community Advantage, the agency will expand the points of access that small-business owners have for getting loans by opening SBA’s 7[a] loan program to "mission-focused" financial institutions -- including Community Development Financial Institutions, Certified Development Companies and nonprofit microlending intermediaries.

Community Advantage will leverage the experience these institutions already have in lending to minority, women-owned and start-up companies in economically challenged markets -- along with their management and technical assistance expertise -- to help make their borrowers successful.

"These two new loan initiatives tackle a couple of factors we know exist when it comes to the challenges small-business owners face,” Mills noted. "First, to add more incentive for lower-dollar loans in these communities, we are providing a streamlined process for lenders along with the regular 7[a] government guarantee.

"Second, we are taking steps that will increase the number of places small-business owners in underserved communities can go to get loans. And also, with Community Advantage, we are making sure that the additional assistance some borrowers may need through counseling and technical assistance will be available."

Mills added that the new loan initiatives are in line with the agency’s core mission of supporting small-business growth and job creation, and goals of the new Advisory Council on Underserved Communities, announced today. The Council will provide input, advice and recommendations on how SBA, through its programs, can help strengthen competitiveness and sustainability for small businesses in underserved communities.

"Many entrepreneurs and small-business owners across the country have enormous potential to drive economic growth and create good-paying jobs in their local communities, but too often they face barriers in fulfilling that potential," said Hughes, who will chair the council.

A Nebraska native, Hughes began a career in radio in 1969 at KOWH, a small black-owned radio station in Omaha. She came to Washington, D.C., as a lecturer at Howard University’s School of Communications, and worked at several local radio stations before she and then her husband purchased a small D.C. station and turned it into Radio One. Later, Hughes bought out her husband and became sole owner -- at one point, moving into the station to make ends meet.

In January of 2004, Hughes launched TV One, a cable television channel targeted at the African American community. Today, Radio One owns 52 radio stations in major markets across the country, making the company the largest black-owned radio chain in the nation.

"I’m excited to be a part of this effort to strengthen the link between these entrepreneurs and the SBA’s wide variety of resources," Hughes said. "SBA assistance played a critical role in my success, and I’m eager to do all I can to help make sure others have access to these same opportunities."

The agency’s new Advisory Council on Underserved Communities will consist of 20 members from across the country. Over the next few weeks, the SBA will accept nominations for members to serve on the CUC.

Members will provide a critical link between SBA and small businesses in traditionally underserved communities. It is anticipated that members will reflect a variety of key sectors -- including business owners, banking and finance, community development, nonprofit and academia. Member nominations can be emailed to underservedcouncil@sba.gov.

Senator Landrieu Praises New SBA Programs
Sen. Mary L. Landrieu [D-La.], chair of the U.S. Senate Committee on Small Business and Entrepreneurship, today issued the following statement after the SBA announced its two new lending initiatives for underserved communities:

"Since the start of the financial crisis, we have seen credit lines completely shut off," said Landrieu. "As a result, small businesses in underserved areas of the country have had the hardest time obtaining adequate credit.

"The two new loan initiatives announced today have the potential to open up the credit lines to these struggling small businesses by streamlining the application process and increasing the number of lenders that entrepreneurs can choose from when obtaining a loan. By improving the access to credit in these areas, we would give these businesses in underserved communities the opportunity to boost our economy and create jobs.

"Furthering their commitment to increasing loans in underserved areas, the SBA’s Advisory Counsel on Underserved Communities provides the added support these businesses need to access SBA resources and take advantage of these lending programs.

"I look forward to working with the Council once they are assembled to energize small businesses in the most underserved areas of America."

GoodBiz113's Take
SBA's Karen Mills and her colleagues are clearly in touch with the plight of promising small-business owners whose dreams have been hamstrung for far too long by far too many cash-hoarding banks. The two programs announced today should prove to be a boon for small businesses, as well as for those banks that have have been reticent to lend money to them.

Further, the appointment of Catherine L. Hughes to chair SBA’s new Advisory Council on Underserved Communities is a welcome move to help spread the far-reaching wealth of entrepreneurship. Her solid business experience, success and leadership will likely benefit legions of current and would-be small-business owners.

SOURCES: U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration
____________________

Leverage the Power of Google AdSense to Start Monetizing Your Website Now. [affiliate link]