U.S. SMALL BUSINESS ADMINISTRATION PHILADELPHIA DISTRICT OFFICE
SBA, Women’s Opportunities Resource Center Celebrate Women’s History Month at Woman-Owned Small Business
WORC is Philadelphia’s newest SBA-Backed Micro-Lender Helping Local Woman-Owned Small Businesses Like Emerald Cutz Salon
PHILADELPHIA, PA – The U.S. Small Business Administration and the Women’s Opportunities Resource Center (WORC) will present a check to Drimaine Mills, owner and creator of Emerald Cutz Hair Salon on Thursday, March 28 at 11 a.m.
At Emerald Cutz, U.S. Small Business Regional Administrator Natalia Olson-Urtecho and WORC President Lynne Cutler will highlight how local women-owned small business owners like Drimaine Mills can benefit from SBA programs to start, grow and succeed.
WHO: Natalia Olson-Urtecho, SBA Mid-Atlantic Regional Administrator
David Dickson, SBA Philadelphia District Director
Lynne Cutler, President, WORC
Patrick J. Kelly, Bank of America Senior Vice President
Drimaine Mills, Owner, Emerald Cutz Hair Salon
WHAT: Tour of Emerald Cutz Hair Salon, check presentation ceremony, media availability.
WHERE: Emerald Cutz Hair Salon, 2036 Fairmount Avenue, Philadelphia, PA 19130 www.emeraldcutz.net
WHEN: Thursday, March 28 at 11 a.m.
OF NOTE: For one-on-one interviews contact Robert Goza 610-382-3084.
Mills has leveraged counseling and lending program assistance from WORC, which has disbursed more than 420 loans totaling more than $1.5 million in microloans and credit builder loans, for advice on business planning, growth strategy and financing.
“WORC and SBA know that business ownership is one path for women to find greater economic independence. That is why we are proud to announce that WORC has become an SBA micro-lender, extending our efforts to help women start and grow businesses. We also thank Bank of America and PNC Bank for their additional support for our SBA lending.” WORC President Lynn Cutler said. “WORC was approved for a $350,000 loan and we received $50,000 to provide technical assistance for SBA borrowers, which is such a valuable service to our businesses and will allow us to expand our lending in the five-county area of Philadelphia, Delaware, Montgomery, Bucks and Chester.”
WORC promotes social and economic self-sufficiency for disadvantaged individuals primarily women and their families, through self-employment training, financial resources and their family savings account program. For more information on WORC, visit www.worc-pa.com.
According to the National Women's Business Council, women-owned firms grew 44% from 1997 to 2007, twice as fast as male-owned firms. There are 7.8 million women-owned businesses in the US and 88% of these are small businesses.
“At SBA, celebrating Women’s History Month includes reflecting on the important role women business owners play in our economy and why support for women-owned small business ownership, like our resource partner WORC’s mission, is so important here in the Mid-Atlantic region,” said Olson-Urtecho. “In fact, women-owned businesses like Drimaine Mills’ hair salon represent one of the fastest-growing segments of the economy.”
SBA’s district offices serve every state and territory in the United States and SBA works with its local resource partners – SCORE, Small Business Development Centers, and Women’s Business Centers – to provide technical business counseling to entrepreneurs at every stage of small business development. Assistance is available on a broad spectrum of business-related topics, including: writing a formal business plan, locating sources of financial assistance, managing and expanding a business, government contracting, exporting, and disaster recovery. Visit www.sba.gov for more information.
Emerald Cutz Hair Salon is located in the beautiful Art Museum area. Mills says her salon offers customers a relaxing atmosphere to escape to: “We offer a variety of unique hair care services and carry salon-exclusive brands to make you look and feel like celebrity.”