Lt. Governor’s Dover Events for November 14: Small Business and School Breakfast

Statewide Small Business Advisory Committee Meets
Speaks at Delaware School Nutrition Meeting about School Breakfast 

DOVER – Lieutenant Governor Matt Denn’s Small Business Advisory Committee began meeting in January of this year about a variety of issues that impact small businesses.  Improvements to the state’s small business loan programs, providing better information to small businesses about requirements of the Affordable Care Act, controlling workers compensation premiums, and state and county regulations are just a few of the topics that have been discussed.  The Committee’s 17 members represent a variety of small businesses throughout the state.

During tomorrow’s meeting – the last of 2013 – the discussion of how to make credit available to more small businesses will continue with John Fleming and Michael Rossi of the state Small Business Administration’s office and a representative of a local lender.  The committee will likely decide on recommendations that can be made to increase access to credit for small businesses.

A further discussion of the Affordable Care Act and its impact on small business is also on the agenda.  The meetings rotate between Wilmington and Dover, are posted in advance and open to the public.

Tomorrow afternoon, the Lt. Governor will be talking at the business meeting of the Delaware School Nutrition House of Delegates about trying to expand school breakfast to every elementary school classroom in the state.

9:30am – 11:30am     Small Business Advisory Committee meeting

The Tatnall Building
150 Martin Luther King, Jr. Drive, South
2nd floor conference room
Dover

4:15pm – 5:15pm       Delaware School Nutrition House of Delegates Meeting
Modern Maturity Center
1121 Forrest Avenue
Dover


Governor’s Weekly Message: Helping Small Businesses Succeed


DOVER –  In his weekly message, Governor Markell focuses on helping Delaware small businesses grow.

“Dupont,  Perdue, and W-L Gore may be large employers now, but each began as the passionate project of some inspired entrepreneurs,” said Governor Jack Markell.  “Every day, new entrepreneurs step forward, launching themselves into the hard but critical work that comes from working for yourself.”

This week, the Governor joined business and academic leaders, as well as National Governors Association Chairman Governor Dave Heineman of Nebraska in Washington, D.C.  for the Kauffman Foundation’s 3rd Annual “State of Entrepreneurship Address.”   Each semester, the Delaware Economic Development Office and others  bring together dozens of existing and potential entrepreneurs to offer intensive training and guidance through the Kauffman Foundation’s FastTrac program.   The curriculum offers important insight in areas critical to building a business.

“It was clear from this collaborative discussion that some of the old debates and divides that mar economic policy discussions in other places just aren’t relevant at this point in history,” said Governor Markell.  “In the fight to help employers – particularly small businesses– grow, we need to stay focused on how states can enable,  rather than inhibit, growth.  We need to remain committed to making government more responsible, making our public schools stronger, and on creating a business environment that encourages growth and opportunity. Our state is full of so many active and budding entrepreneurs.  Whether as a government committed to creating a climate for success or as individual consumers committed to supporting small businesses with how and what we buy, we need to support small businesses and their entrepreneurial spirit  as we work together to keep Delaware moving forward.”

About the Governor’s Weekly Message:

At noon every Friday, the Governor’s office releases a new Weekly Message in video, audio, and transcript form.  The message is available on:

YouTube: http://youtu.be/0f5FoPUCGgs
Delaware.Gov: http://governor.delaware.gov/information/podcast_video.shtml
By email: Please contact our press team to subscribe to our press list
Facebook: www.facebook.com/governormarkell
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Transcript of the Governor’s Weekly Message: Helping Small Businesses Succeed


Additional Federal Assistance Available to Delaware Small Businesses Economically Impacted by Hurricane Irene

SBA offers Economic Injury Disaster Loans

Delaware State SealDOVER –  Governor Markell has received notification from the U. S. Small Business Association that Economic Injury Disaster Loans are now available to eligible Delaware small businesses in Kent and Sussex counties affected by Hurricane Irene on Aug. 27-28, 2011.  These low-interest disaster loans are also available to small agricultural cooperatives, small aquaculture businesses and private non-profit organizations.

“We are grateful to the U.S. Small Businesses Association for recognizing the assistance Sussex and Kent counties require,” said the Governor. “This SBA designation allows us to extend outreach efforts to businesses in lower Delaware economically impacted by the hurricane.  Economic effects of the hurricane can be just as challenging to a small business as property damage.”

SBA Administrator Karen Mills made the loans available at Governor Jack Markell’s request for a disaster declaration by the SBA.  The declaration covers Kent and Sussex County small businesses; however, this loan program is especially relevant to businesses in Sussex County because Sussex did not meet the eligibility requirements for previous property damage disaster declarations. Thus, the Governor requested a special declaration based on the economic losses these businesses faced.

“The SBA can help affected small businesses and non-profit organizations overcome their economic losses by offering working capital loans, but the help cannot start until they submit an SBA Disaster Loan application to us,” said Jayne Armstrong, SBA’s Delaware district director.

“The Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to help small businesses and non-profits in Delaware with their federal disaster loans,” said Mills.  “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

Eligible entities may qualify for loans up to $2 million.  The SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  The rates on these loans are three-percent for non-profit organizations and four-percent for businesses with terms up to 30 years.  The SBA determines eligibility for the loans based on the size and type of business and its financial resources.  Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Small businesses in Kent and Sussex counties who suffered economic injury from the hurricane are encouraged to review the SBA’s applications and program information.  Contact the SBA’s Customer Service Center 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) Monday through Friday from 8 a.m. to 8 p.m., and Saturday and Sunday from 9 a.m. to 5:30 p.m. ET or via e-mail to disastercustomerservice@sba.gov.

Loan applications available for downloaded at www.sba.gov. Completed applications should be returned to the Center or mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Those impacted may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.

The filing deadline to return physical property damage applications is November 28, 2011.

The deadline to return economic injury applications is July 20, 2012.


WSFS Announces Small Business Loan Program

WSFS Financial Corporation (NASDAQ:WSFS), the parent company of WSFS Bank, today announced that it has created the WSFS Small Business Loans-for-Job Creation Program. Under this new program, through the end of 2011, WSFS Bank will make available a special pool of $25 million to qualified small businesses located throughout the marketplaces it serves.

“In supporting our mission to strengthen our communities, the WSFS Small Business Loans-for-Job Creation Program will provide loans to help small businesses grow immediately and help fuel the broader economy,” said Mark A. Turner, WSFS President and Chief Executive Officer. “WSFS has been lending to businesses throughout this extended downturn,” continued Mr. Turner. “We also know small businesses are the engine of job creation and they have been hit especially hard over the last several years. Creating this program allows us to do our part to support small businesses right here, right now.”

“WSFS has a long record of helping Delawareans access the credit they need to start and grow a business,” said Sen. Carper. “It’s been tough out there the past several years for small business owners to find affordable access to capital, and I’m proud that a Delaware community bank is helping to extend this much needed credit to Delaware small businesses. I applaud WSFS’s Small Business Loans-for-Job Creation Program, which is another step in the right direction to get our economy moving and help put Delawareans back to work.”

“This announcement from WSFS is exciting news for Delaware’s business community,” Sen. Coons said. “The WSFS Small Business Loans-for-Job-Creation Program is a model for the type of institutional support that businesses need to grow and create jobs, and I’m optimistic that it will give Delaware’s economy a much-needed shot in the arm. This is how communities help get people back to work – by working together to help small businesses grow and create jobs. This program is win-win for Delaware.”

“Helping small businesses succeed is critical to creating jobs and strengthening the economy,” said Congressman Carney. “I applaud WSFS Bank for developing the Small Business Loans-for-Job Creation Program and making resources available that will directly benefit small businesses in our community. This is exactly the type of support needed to grow the economy and help get Delawareans back to work.”

Creditworthy businesses with annual revenues up to $10 million that commit to using the funds for immediate investment (equipment investment, hiring of employees, etc.) will be eligible for loans up to $500,000 with no closing costs or other bank fees and at an attractive fixed rate. Business owners interested in the WSFS Small Business Loans-for-Job Creation Program can call Cheryl Rodriquez at 1-877-WSFSBIZ to learn more about this program.

About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest, locally-managed bank and trust company headquartered in Delaware with $4.2 billion in assets on its balance sheet and $9.3 billion in fiduciary assets, including approximately $1.0 billion in assets under management. WSFS has 48 offices located in Delaware (38), Pennsylvania (8), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking and trust and wealth management. Other subsidiaries or divisions include Christiana Trust, WSFS Investment Group, Inc., Cypress Capital Management, LLC and Cash Connect. Serving the Delaware Valley since 1832, WSFS is the seventh oldest bank in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.