Fargo-Based Security Bank & Trust Gives $1,000 or $500 Holiday Checks to Employees, Says 'Pay It Forward'

In previous years, Fargo, N.D.-based Security Bank & Trust has taken five percent of its company earnings, then divided it up at holiday time among employees. This year, employees are receiving those year-end bonuses -- plus $1,000 checks for full-time staffers, and $500 each for part-time employees. There's just one caveat: Use the gifts for people in need.

State Bank & Trust COO Michael Solberg said the payments are part of the bank's $502,000 "Pay It Forward" initiative. "Over the past years, we have been so blessed at State Bank & Trust," he said. "We wanted to put this money in the hands of our employees, who know where the needs are in their communities. Giving back is one of our core values, and we hope this project will have huge impact in our communities in 2008."

The privately owned bank employs 500-plus people at 13 locations in North Dakota and northwestern Minnesota. Employees were told not to use the money for themselves, their families, or families of other bank employees. They could choose an individual cause, pool their money for a larger project, or collaborate with donors outside the bank.

Each employee also received a digital video camera, and was asked to document their project and its impact by June 30, 2008. Employees can then keep their cameras or give them to someone else as a gift.

This year's surprise announcement was made over the weekend, at the bank's annual holiday party -- with special guest Caroline Hodge, a dead-ringer Oprah Winfrey impersonator [see above]. Replete with a stage designed to appear exactly like Winfrey's set, "Oprah" interviewed Solberg about the innovative give-back initiative prior to the bank's distribution of employees' bonus and gift checks.

This morning, Harry Smith, co-host of CBS' "The Early Show," interviewed Solberg and Jill Staffner, the State Bank & Trust employee who coordinated the holiday event. Click here to see CBS News' "Bank Spreads Holiday Cheer" video clip, which includes Smith's interview with Solberg and Staffner, plus footage from last Saturday's holiday party.

GoodBiz113's take: Once again, a highly ingenious and generous initiative sprouts from the small-business sector. Just imagine the impact that such an endeavor could make if, say, a leading money center bank like Wells Fargo and/or an electronics behemoth such as Best Buy did the same thing in all the communities in which they do business. Certainly the latter -- who, by the way, just announced a 52 percent rise in third-quarter profit -- at least has a few extra camcorders to deploy for a larger-scale project of this sort...

SOURCES: CBS News, State Bank & Trust [photo]
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Senate Passes First Funding Increase for Small-Business Programs in Seven Years

Today, Sen. John Kerry [D-Mass.] applauded the Senate’s passage of the Consolidated Appropriations Act of 2008, which provides more than $40 million in additional funding for key Small Business Administration [SBA] programs over last year’s funding. Each of the SBA’s core programs -- including Small Business Development Centers, Women’s Business Centers, and the Microloan program -- will receive an increase.

"For the first time since President Bush took office, small business programs will receive a real funding increase thanks to the Democratic leadership of this Congress," said Kerry, chairman of the Committee on Small Business and Entrepreneurship.

"Small businesses are the economic engine of America and create two thirds of all jobs, but the Bush administration has merely used them as photo ops and backdrops to promote big-business policies," Kerry noted. "Democrats have made clear our commitment to fostering innovation and entrepreneurship, and to solidifying America’s future competitive edge by investing in small-business programs."

The 2008 Consolidated Appropriations Act provides almost $569 million in funding for SBA programs. When funding for the disaster loan program and non-agency spending is excluded because it fluctuates each year, the SBA’s funding is increased by more than $40 million over the 2007 funding levels.

Specifically, the SBA’s core programs will receive:

* Small Business Development Centers: Up 9 percent [from $89 million to $97.1 million]
* Women’s Business Centers: Up 4 percent [from $12.5 million to $13 million]
* Microloan Technical Assistance Grants: Up 15 percent [from $13 million to $15 million]
* Microloans: Up 53 percent [from $1.3 million to $2 million in funds to leverage almost $20 million in loans -- up from $12.7 million last year]
* Program for Investment in Microentrepreneurs: Up 50 percent [from $2 million to $3 million]
* 7[j] Management and Technical Assistance Program: Up 53 percent [from $1.5 million to $2.3 million]
* HUBZone Program: Up 5 percent [from $2 million to $2.1 million]
* Surety Bond Guarantee Program: Up 6 percent [from $2.8 million to $3 million]
* Loans and Venture Capital: The SBA will be able to leverage up to $28 billion in loans and venture capital deals through the 7[a], 504, and Small Business Investment Company [SBIC] programs.

SOURCE: U.S. Senate Committee on Small Business and Entrepreneurship
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Eco-Friendly Recycline Wins $100,000 Grand Prize in Forbes.com’s 'Boost Your Business' Contest for Entrepreneurs

GoodBiz113 profilee Recycline Inc. ["Recycline-Stonyfield Partnership Milks Resources to Benefit the Environment, Consumers and Each Other"], an eco-friendly consumer-products company, is the grand prize winner of the Forbes.com "Boost Your Business" contest. Recycline received the award – a grand prize of $100,000 – during a reception at The Forbes Galleries in New York City on Wednesday, Dec. 12, 2007.

Recycline, based in Waltham, Mass., makes a range of consumer products, such as toothbrushes, razors, tableware and kitchenware from recycled and environmentally preferred materials that are also recyclable. Its Preserve® brand line is currently sold at retailers, such as Whole Foods Market, Trader Joe's and Wal-Mart. The company encourages consumers to send their toothbrushes and razors back for recycling.

"This was a fantastic experience, and we greatly enjoyed getting to know the four other finalists," said Eric Hudson, Recycline's founder and president. "We’re grateful for the award and the support that our stakeholders and the Forbes.com community showed.

"We plan to use this award to forward our mission to satisfy people’s everyday needs with high-quality, stylish, and environmentally responsible products with our Preserve® brand line of personal-care products, tableware, and kitchenware. Recycline’s win is a testament to the growing tide of interest in products and services that respect and preserve the Earth’s precious resources."

Recycline Inc. persevered over nearly 1,000 other small businesses to win the contest, which was judged by Forbes editors, readers and business experts. Recycline was among the nearly 1,000 entrepreneurs from across the country that entered the contest when it launched in March 2007.

In the first phase of the contest, co-sponsored by HP, small-business owners submitted 500-word business plans; 20 semifinalists survived. In round two, Forbes.com users had the opportunity to review these plans and vote for their top five.

The five finalists who made it to the final stage were flown to New York City in October to give live presentations to an expert panel of judges. Their videotaped presentations were posted on Forbes.com for further reader voting. The runners-up are:
* H2bid.com [Detroit, Mich.] – Glenn Oliver
* Presidential Classroom [Alexandria, Va.] – Elizabeth Sherman
* Simply Divine Brownies, LLC [Brunswick, Maine] – Trina Beaulier
* Unicycle.com [Marietta, Ga.] – John Drummond

"All the finalists deserve a big round of applause,” said Brett Nelson, Forbes.com entrepreneurs editor. “This contest was downright grueling – especially, the final round. We wish all of them continued success, and look forward to next year's 'Boost Your Business' contest.”

SOURCES: Forbes.com, Recycline Inc.
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