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SBA Loan Helps York, Penn.’s Goddard School Open
SBA-Backed Woman-Owned Small Business Expected To Create 20-25 Jobs With Help From SBA-Guaranteed Loan
Natalia Olson-Urtecho, SBA Mid-Atlantic Regional Administrator and Leena Patel, Owner, York Goddard School at the grand opening event with John Banks, Lead Business Development Specialist, SBA Philadelphia District Office, Joe Schumacher, CEO of the Goddard Systems, Inc., Dzana Homan, COO of the Goddard Systems, Inc. and Thomas Blackburne, VP of SBA lending at TD Bank
U.S. Small Business Administration Mid-Atlantic Regional Administrator Natalia Olson-Urtecho celebrated Women's History Month by attending the groundbreaking ceremony for a Goddard School in York, Pennsylvania expected to create 20-25 jobs Thursday, March 14, 2013.
"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 is so important here in the Mid-Atlantic region. In fact, women-owned businesses like Lena Patel's Goddard school here in York represent one of the fastest-growing segments of the economy," Olson-Urtecho said.
At the site of the future Goddard School, Olson-Urtecho highlighted how local women-owned small businesses like Patel's – who leveraged SBA lending program assistance for the construction financing, permanent mortgage and working capital through SBA lending partner TD Bank – may be able to benefit from SBA programs.
"For small businesses looking for a way to finance growth, an SBA loan may be able to help. While SBA doesn't make loans directly, it guarantees a percentage of each loan made by lenders who partner with SBA," said John Banks, Lead Business Development Specialist for SBA's Philadelphia District Office. "SBA's guarantee reduces the risk, which means SBA lending partners are more likely to help small businesses obtain a loan to help them start and grow the business."
"SBA knows that business ownership is one path for women to find greater economic independence. 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," said Olson-Urtecho.
According to Patel, Goddard Schools use the most current, academically endorsed methods to ensure that children have fun while learning the skills they need for long-term success in school and in life, learning with talented teachers who collaborate with parents to nurture children into respectful, confident and joyful learners.
"I cannot thank enough the SBA loan program, without whose support my dreams of being an entrepreneur would have never been fulfilled. I am proud to be opening a Goddard School in our neighborhood. While our school is under construction, I am committed to providing the highest quality preschool experience for the children in our community," Patel said.
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.