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SBA provides another “tool in the toolbox” to a WV Veteran-Owned Company
Jeannette King is a veteran - she is also a West Virginian, a single mother, and a small business owner. In 2007, King took the unique skills, drive, and passion that she developed while serving in the Navy to open her own small business, Strategic Resolution Experts, Inc. (SRE).
SRE, located in Martinsburg West Virginia, is a technology and management consulting firm that helps customers implement business processes and tools to find efficiencies. King utilizes a large toolbox to achieve success in small business.
The U.S. Small Business Administration is one of the vital tools that King depends upon. SRE is a certified small disadvantaged 8(a) business. The SBA 8(a) small business development program is a nine-year platform created to assist eligible socially and economically disadvantaged individuals in developing and growing their businesses.
King entered the program in 2010 and has received contracts from Department of Homeland Security, Transportation Safety Administration, Defense Threat Reduction Agency, the Department of Treasury, and the Internal Revenue Service with the help of the certification. King states that the 8(a) certification is a great tool to have, however it is not a magic bullet. “You still have to be out in the community developing relationships – you still have to market and do business development,” she states.
In addition to the 8(a) certification, King obtained a loan with an SBA guarantee. As a veteran, King qualifies for the SBA Patriot Express loan guarantee program. The Patriot Express program is offered by SBA lenders to increase turnaround time on loan approvals. The loan can be used for most business purposes including start-up, expansion, equipment purchases, inventory, business occupied real-estate purchases and as how King intends to use it – working capital.
While King has not yet used the line of credit, it gives her peace of mind to bid on large contracts and feel confident that she can fund payroll until she gets paid by the government. “It’s just another tool in my toolbox,” states King. “It shows that financially I can handle the large contracts that I am bidding on.”
“My experience working with the West Virginia District Office of the SBA has been has been very positive, most importantly the employees are dedicated to helping small businesses in West Virginia succeed.”
Due to the success that King has accomplished with her business, she is now able to give back to all of those communities that she belongs to. As a West Virginian she is proud that half of her staff lives in West Virginia and that she is making a positive impact to the economic development of the state. As a mother, King dedicates her time and money to promoting education at local, national, and international educational institutions. And, as a Veteran King supports many organizations for Veteran, with the most prominent being Final Salute, Inc. organization which provides transitional housing for homeless female veterans and their children.
The SBA knows that veterans, like King, are essential to the success of the small business community. U.S. military veterans own nearly one in 10 of all businesses nationwide, they generate $1.2 trillion dollars in receipts, and employ nearly 5.8 million people.
If you are a veteran and would like to learn more about services offered by the SBA, visit www.sba.gov/content/veterans.