LIVE FROM NATIONAL SMALL BUSINESS WEEK – Interview with 7(a) Lender of the Year

This week we’re live-blogging from National Small Business Week, a public-private partnership event to honor and empower America’s small business community.

Today’s events kicked off with a breakfast honoring SBA’s resource partners and lenders, who  provide education, training and capital to entrepreneurs and business owners in their communities.  The event featured remarks from SBA Associate Administrator of Entrepreneurial Development Michael Chodos, SBA Administrator Karen Mills, and NASA Administrator Charles Bolden, among others.  In keynote remarks, Administrator Bolden spoke about the importance of small businesses in the growing space exploration industry, and his agency’s commitment to meeting small business contracting targets and supporting research and development through the SBIR/STTR programs. 

SBA Officials with Awardees

After the breakfast, we chatted with two award winners for 7(a) lender of the year, Mike Toth and John Moshier of Key Bank. 

Congratulations on your award. Can you tell us a little bit about Key Bank's business lending portfolio?

As a large lender, we work with businesses throughout their life cycles -- from startups to large businesses. For the small business portion of our small business portfolio we work with the SBA. 

What are you hoping to get out of National Small Business Week?

Learning small business best practices and helping to begin nominating next year's award winners. 

Do you have any advice for entrepreneurs seeking funding? 

Work with organizations and resources that provide technical assistance so that you are prepared when you approach a lender. Crafting a solid business plan is also important before you apply for a loan.  

For more information about the event, you can read the full press release. 

Be sure to stay tuned for more updates from throughout the week on the SBA blog, Facebook, and Twitter (use hashtag #SBW2012). 

About the Author

My name is Nico and I'm serving as a moderator for the Community.