Thursday, April 03, 2008
Another indication of the pressing needs for local veterans coming home from Iraq and Afghanistan: dozens have already registered for a one-day workshop next week, aimed at helping this new generation of vets start, or expand, their own business.
If you’re interested in registering for the course at Onondaga Community College, scroll down to the bottom of the story for details. Here’s a success story from Oswego County:
The heavy equipment that Guy King works with these days is a new roll-off truck for his rubbish removal business. But for 15 years, King ran the heavy equipment, as a boom operator for KC 135 Air to Air refueling tankers. When he retired from the Air Force, King needed some help getting back into his dad's business.
“It's a family business. My father started it, got it up and running again in 1968. My grandfather began it in 1958, but kind of let it go. So, it's been 40 years, we try to keep it going and keep our customers happy.”
To do that, he needed a new truck and other financing. He got it, with a loan called the Patriot Express from the Small Business Administration.
“I was also working on a consolidation loan to wrap everything up into one. It consolidates payments, helps the business expand, which again would be great for veterans, especially for start up.”
Guy secured his loan at the local Pathfinder Bank. A $275,000 loan, with a 7 year term and an interest rate that's hard to beat: 2% above prime.
Will O'Brien is with Pathfinder. “We underwrite the loan. We approve it. We get the SBA involved. They have their paperwork. They have to fill out their paperwork, it was only about 4 or 5 pieces of paper to be honest with you. We fax it over, they get back to us pretty quickly on it.”
For Guy King, it meant hiring two new employees, bringing his workforce to five.
Any veteran who wants to start or expand a business is invited to the free workshop next week at Onondaga Community College.
It's called "Operation: Start Up and Grow," run by the Small Business Administration at the Gordon Student Center, on Thursday, April 10th from 8:30am to 1pm. Banks and government agencies will explain the low-interest, quick-approval loans and other help that's available.
Source: http://www.9wsyr.com/news/
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