SBA, Gettysburg Pennsylvania discussed on The Takeout

The Takeout
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Automatic TRANSCRIPT

You got venture capital you got community and big banks really does what does this mall business ministry needed to be all this money out there sasha around right well i think the sba has to operate a zero subsidy so the risk that we take the fees that are charged for the lending programs are really fought handles the operation side you know vespas in the default rate is very low in the loans so it's we have to operate zero subsidy we are helping entrepreneurs take a risk that might not and boy i'll tell you this upcoming week small business national small business week is going to really showcase a lot of those businesses but for sba loans would never have had an opportunity give us a story oh gosh there the importance of a story the importance of the story well there's there was a leather goods company outside of gettysburg pennsylvania and it was veteran he finished he'd retired he wanted to have his own business and there was a small motor shop motorcycle shop not to sell motorcycles just to sell you know the leather vest jacket right i'm motorcycle gear and the sunglasses and the whole thing in in a buddy a his looking cool something i know nothing about where you're you're attempting to look cool or you are super cool and the clothes fit fit the man or the woman and so he really really wanted to do that but he had no collateral i didn't know how to go about starting his businesses first thing he did was to go to to be a if you go sba dot gov you'll see all the all the ways that you can be guided into starting up a business until he went to that he subsequently went to the district office he talked to people there and we have a veterans outreach program through spa so he got not only access to capital through a small bank but he also got the counseling that he needed nor to help him set up his business and i think that that is as as important but spa does is that counseling mentoring sometimes telling people hey this is not a good idea you're not going to be able to scale this business you don't have enough capital you're not gonna have capital to this one of the reasons small businesses fail so often is.

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