SBA Administrator Karen Mills Tours Small Manufacturer Label King
Left to Right - Max Parker, Robert's son; Karen Mills, SBA Adiministrator and Robert Parker, Owner, Label King
U.S. Small Business Administrator Karen Mills toured Label King, Wednesday, February 27th, a thriving San Diego manufacturer. While there, Administrator Mills discussed President Obama’s plan to make America a magnet for jobs and strengthen America’s small businesses by revitalizing our manufacturing sector.
Label King is a label manufacturing company started in June of 2002, by Robert Parker. It was started as a result of the difficulty that Mr. Parker had with custom labels when he worked for a packaging distribution company. He knew there had to be an easier way and started his business with only one printing machine and one production assistant in a modest 1,500 square foot facility. A $175,000 SBA guaranteed 7(a) revolving line of credit, through Wells Fargo Bank, helped Label King to grow into a beautiful 8,300 square foot facility, with four high quality printing machines, and 15 employees to help run them and the business. Label King recently hit a milestone of manufacturing over 1 billion labels.
Additionally, through their supply chain, Label King helps to support a number of jobs that are not direct hires. They are the largest customer of a (3 employee) small plate manufacturer in Costa Mesa, a large customer of a small local courier company; provide work for freelance artists, internet designers, even a video production company to produce promotional videos. The materials that they buy for their process come from all over the nation. Their tooling comes from Missouri, paper comes from Ohio, and inks come from North Carolina.
Sell Around the Globe? Tell the World
Enter SBA and Visa’s export video contest for a chance to win $10,000.
Do you sell bowling balls to Bangladesh? Or dish towels to Delhi? Maybe you send laser technology to Lisbon? If you export your goods or services around the world and have used a federal government program or assistance to get there, the U.S. Small Business Administration and Visa Inc. (NYSE: V) want to see your story. Enter the “2013 SBA-Visa Export Video Contest”, where participants will have a chance to win up to $10,000 in prize money. Eligible small business exporters are encouraged to submit a video to http://exportvideo.challenge.gov/ that will highlight how the small business became a successful exporter, the benefits of exporting and government programs available to help them export.
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SBA to Expand Access to Loan Programs
Fewer regulations will streamline applications and ensure program integrity through enhanced oversight
Borrowers and lenders of loans backed by the U.S. Small Business Administration will have greater access to capital and less paperwork as a result of a proposed regulation aimed at streamlining the SBA application process, while also strengthening oversight and the integrity of the agency’s loan programs.
“Streamlining and simplifying has been a key focus of our agency over the last few years. The changes are the latest steps to reduce paperwork burden, with our eye on the larger goal of expanding access to capital and giving entrepreneurs and small business owners the financial resources to grow and create jobs,” said SBA Administrator Karen Mills. “Specifically, these proposed regulations will provide greater access to capital through our two largest loan programs, while also reducing risk to taxpayer dollars.”
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