SBA Massachusetts Newsletter | May 2017

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May 2017

National Military Appreciation Month

U.S. Small Business Administration - Massachusetts District Office

National Military Appreciation Month was designated by Congress in 1999 to remind Americans of the important role the U.S. Armed Forces serves in our country.  

Military Appreciation Month Banner

5 Ways to Honor the Military this Memorial Day

Did you know that May is Military Appreciation Month? And with Memorial Day coming up, it’s a perfect opportunity for your small business to honor the service of our veterans and military men and women. Here’s a look at some ideas to consider from that go beyond a traditional discount on products or services with inspiration from Kathryn Hawkins, who writes extensively on business and entrepreneurship.

  • Collections for troops – Host a collection for items deployed troops need. Let customers know via email newsletters and social media – in addition to in-store signage – that you’ll be gathering items to send overseas. Check out efforts like Operation Gratitude for specifics about how you can help and what our soldiers need.
  • Discounts and free offers – Customize a special offer for those who present military ID, such as 20 percent off your product or service. If you can afford it, toss in a little something extra with a purchase. Run a restaurant? Sweeten the deal with free dessert at the end of the meal.

> Read more

SBA LENDING STATUS - Leading the country in: total 7(a) approvals, under $150k and underserved, and under $50k

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Lender of the Quarter - Q2 FY17 / Crescent Credit Union

SBA is pleased to present the Lender of the Quarter Award to Crescent Credit Union for the 2nd Quarter in Fiscal Year 2017.

As of the end of March 2017, Crescent Credit Union made 9 loans in total this fiscal year, 5 in FY17 Q1 & 4 in FY 17 Q2 ranking them in the top 20 most active lenders in MA. Crescent Credit Union’s SBA Lending performance so far is three times that of their prior year. Congratulations to Crescent Credit Union!


InnovateHER 2017 Massachusetts Local Competition

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CWE Massachusetts is very excited to be hosting InnovateHER 2017: a cross-cutting prize competition to unearth innovative products and services that help impact and empower the lives of women and families. Through the competition, the U.S. Small Business Administration (SBA) is seeking to amplify products or services that fill a need in the marketplace and have the potential for commercialization. Contestants must develop a product or service that meets the following three Challenge criteria:

• Has a measurable impact on the lives of women and families (30%)

• Has the potential for commercialization (40%); and

• Fills a need in the marketplace (30%).

This Challenge is open only to (1) citizens or permanent residents of the United States who are at least 18 years of age and (2) private entities, such as corporations or other organizations, that are incorporated in and maintain a primary place of business in the United States.

The winner of this Massachusetts local competition will go on to compete in the final round. Cash prices totaling $70,000 will be awarded to the three highest-rated contestants in the final round of the Challenge in the following amounts:

• 1st Place - $40,000

• 2nd Place - $20,000

• 3rd Place - $10,000

When: Thursday, June 1 from 4:00pm to 8:00pm 

Where: CWE Eastern MA, 24 School St., 7th Floor, Boston, MA 02108


Please submit an application for the chance to be accepted into this challenge. 

Each application must contain:

1. A cover letter that includes:

  • Your personal/business background
  • An overview of your innovative product or service and how it satisfies the Challenge criteria identified above
  • Why you should be a part of this competition

2. A complete Business Plan for your product/service.

Submit your applications to Edwidge Lafleur at elafleur@cweonline.org by Monday, May 15


NSBW Kickoff Event in Washington D.C.

The National Small Business Week kickoff event on April 30th in Washington D.C. was well represented by Massachusetts with The Greater Boston SCORE Chapter being honored with the National SCORE Chapter of the Year; and the 2017 Small Business Person of the Year, Victoria Bondo of Gemini Industries. 

The Greater Boston SCORE Chapter 20 Accepting the National SCORE Chapter of the Year Award

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Howard Fineman, Past Chapter Chair; Linda McMahon, SBA Administrator; and Laura Colcord, Current Chapter Chair
(courtesy Boston SCORE)

2017 Massachusetts Small Business Person of the Year Victoria Bondoc, CEO/President of Gemini Industries

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Victoria Bondoc, CEO/President of Gemini Industries and Linda McMahon, SBA Administrator  (courtesy Victoria Bondoc)

SBA Events

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Wednesday, May 10 – the SBA Massachusetts District Office held the 2nd Annual Woostapreneurs Forum – a cosponsored event with the Worcester Regional Chamber of Commerce.  Over 100 participants joined for a half-day of networking and speaker programs in celebration of National Small Business Week.   Among the speakers, were two 2017 Small Business Week award winners from Central Massachusetts -- sharing remarks about how they built their business and advice for growing.  There was a panel featuring new American success stories and a panel featuring resource providers.  The keynote speaker was John Creedon, Jr., Owner of Creedon & Co. and the Worcester Bravehearts, a Futures Collegiate League baseball team.  (L-R) Bob Nelson, District Director; new American Success Stories speaker panel; Ili Spahiu, Lead Lender Relations; Worcester State University Blue Lounge; Tim Murray, President/CEO of Worcester Regional Chamber of Commerce.


Congratulations to all of the 2017 SBA Massachusetts Small Business Week Award Honorees!

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Tuesday, May 2 - the MA SBA held is small business awards event at Granite Links Golf Club in Quincy, MA honoring 12 small businesses and champions who came from the Berkshires to the Cape and in between.    Just under 300 attendees gathered for the celebration including lenders, small business owners, economic development officials, partners and community organizations.    Top left: Sal Lupoli, Lupoli Companies, Bob Nelson, MA SBA District Director, Bob Rivers, CEO of Eastern Bank. Top Right- Winners of the 2017 Massachusetts Small Business Awards;  Bottom Left: Bob Nelson, SBA, Victoria Bondoc, Gemini Industries Inc.  MA Small Business of the Year and Joe DiStasio, SBA New England Regional Advocate. Bottom Right- Audrey Asistio, NBC Boston, emcee for the awards program and Bob Nelson.  Click HERE for complete list.


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Friday, April 28 - The Massachusetts SBA was with the North Suburban Chamber of Commerce in Woburn, MA today for a small business week kickoff event and presentation on SBA programs and services by District Director, Bob Nelson. In the picture from left to right: MA DD Bob Nelson;  Chamber President Jim Murphy; Region 1 Regional Advocate Joseph DiStasio and in-coming NE SCORE Chapter Chair Sumner Misenheimer.    


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Thursday, April 27 - SBA MA, RI and NH were at the Great New England Credit Union Show in Northborough talking about 504 and 7a with guest -- Johnathan Burns, Small Business Program Specialist of USDA Rural Development.

UPCOMING EVENTS

Is your Small Business Address located in a HUBZone

Tuesday, May 16
Roxbury Innovation Ctr, 2300 Washington St
2nd Floor, Boston
The HUBZone program is specifically designed to help increase employment opportunities, stimulate capital investment in those area and empower communities through economic leveraging and the multiplier effect. The federal government has a goal of awarding 3% of all dollars for federal prime contracts to HUBZone-certified small businesses.
(FREE)  Register


Connections That Work - Starting and Growing your own Business

Thursday, May 18
Tewksbury Town Hall
1009 Main Street
Tewksbury
This workshop will provide information on the various resources available for start-up and existing businesses.
(FREE) Register


Supporting Women in Business

Tuesday, May 23
600 Atlantic Avenue, Federal Reserve Plaza, Boston
Networking event for real estate brokers, property managers, bank officers, loan officers, mortgage brokers, appraisers, architects, engineers, landscape architects, designers, etc.
(FREE) To attend, RSVP by May 18, 2017 to Nicole Cohen at cohen@reba.net  (SBA participating)


New Business Information and Networking

Wednesday, May 24
Lakeville Library, 4 Precinct Street, Lakeville
This workshop is geared toward helping potential entrepreneurs evaluate and understand the fundamentals of owning one’s own business. 
(FREE) PLEASE RSVP TO: LAURIE DRISCOLL; ladriscoll@seedcorp.com OR 774-226-8070 BY 5/17/17


Starting and Growing Your Business

Thursday, May 25
Cape Ann Chamber of Commerce
33 Commercial Street, 1st Floor Conference Room, Gloucester
This workshop will provide information on the various resources available for start-up and existing businesses. Learn of programs and services which can assist you in starting and growing your business. 
(FREE) Register


Grow Your Business via 8(a) Business Development

Thursday, May 25
10 Causeway Street, Rm. 265, Boston
The 8(a) Business Development Program is intended to help socially and economically disadvantaged small business owners: • Gain federal contracts • Grow your businesses • Gain access to sole source contracts and get technical assistance. (FREE) Register


Government Contracting can Grow Your Business!

Wednesday, May 31
Scibelli Enterprise Center, 1 Federal St., Bldg 101R 3rd Floor Tele-Classroom, Springfield
This FREE workshop will help you gain a better understanding of Government Contracting processes and resources available to assist you.
(FREE) Register