1

SUCCESS STORIES

FROM ACROSS THE COUNTRY

VERMONT EDITION 2018

PROGRAMS FOR VETERANS

funding, training, and federal 

contracting opportunities

PREPARE YOUR 

BUSINESS FOR 

EMERGENCIES

8 TIPS FOR FINDING 

Government contracting 

Opportunities

Small Business 

RESOURCE GUIDE
2

ADVERTISING
 3

CONTENTS

Funding 

Programs 

28 National Success Story

An SBA loan guarantee helps 

Hawaii entrepreneurs hop 

up their brewing operation.

31 Local Funding Programs

32 Need Financing?

33 Federal Research & 

Development

34 Why Export?

35 Investment Capital

36 National Success Story

Ember Industries receives SBA’s 

2017 Phoenix Award For Outstanding 

	 DisasterRecovery Efforts.

38 SBA Disaster Loans

39 How to Prepare Your

Business for an Emergency

40 Surety Bonds

Contracting 

42 National Success Story

This small business has made 

it their business to provide quality 

	 staffing in the federal arena.

45 SBA Contracting Programs

47 Woman-Owned Small 

	 Business certification

48 8 Tips for Finding 

Government Contracting 

Opportunities

Local Business 

Assistance 

 8 National Success Story

Hometown Trolley has found 

success through determination, 

creativity, and a little help from 

friends at the U.S. Small Business 

Administration.

11 Local SBA Resource Partners

13 Your Advocates

14 How to Start a Business

20 Local Success Story

Mike Rainville, of Maple 

Landmark, turned a passion 

for woodworking into a booming 

company that manufactures 

a diverse array of children’s toys, 

educational aids, and novelty 

items used in product marketing..

22 Write your Business Plan

25 Programs for Veterans

26 Programs for Entrepreneurs

27 Programs for Native 

Americans

 ON THE COVER Clockwise from top: Bethel, Vermont, photo by Nikki Bowman; 

Hunter Cattle, Brooklet, Georgia, courtesy of the SBA; Burlington, Vermont, photo 

by Nikki Bowman; Mike Rainville of Maple Landmark, Inc., photo by TaddMyers.com; 

Hometown Trolley, Wisconsin, courtesy of Hometown Trolley; 21 Short Stop, Georgia, 

courtesy of the SBA

Vermont 2018
4

T his year the U.S. Small Business Administration

marks its 65th year helping small businesses start, 

grow and succeed. The Agency remains committed 

to its core missions: advocating for entrepreneurs 

and helping them access capital, government contracts, 

counseling and disaster assistance. As Administrator of the 

SBA, I am honored to serve as a member of President Trump’s 

cabinet and represent the interests of America’s 30 million 

small businesses.

Small businesses truly are the engines of our economy— 

and our communities. Over half of the U.S. workforce either 

owns or works for a small business, and small businesses 

create two out of every three net new jobs in the private 

sector. Small businesses may not put their names on stadiums 

and skyscrapers, but they likely put them on the uniforms of 

their local Little League and bowling teams. They are the delis 

and salons and retailers and manufacturers that make each 

community special. Across our great country, neighborhoods 

and families depend on the success of small business.

Since taking leadership of the SBA in February 2017, I have 

had the privilege of meeting with entrepreneurs all over the 

country. My goal is to visit small businesses in every one of the 

SBA’s 68 districts. So many of them tell me they simply would 

not exist without the help of the SBA—from the guaranteed 

loans that provided the capital they needed to realize their 

dreams of owning a small business, to the advice they got 

from our district offices and resource partners, to the disaster 

aid they received when it seemed all hope had been lost. 

Throughout this issue of our resource guide, you will read 

stories of successful entrepreneurs who received assistance 

from the SBA. These successes are the motivation for the work 

we do.

As SBA Administrator, I am proud to lead a team of 

professionals dedicated to helping entrepreneurs turn their 

visions into viable businesses. All of us share the joy of 

watching an entrepreneur go from having a simple idea and 

a business plan to living the American Dream—and often 

becoming an employer that empowers the dreams of others. 

It’s clear that the strength of America’s communities is often 

determined by the economic opportunities available to its 

citizens. Small businesses invigorate neighborhoods and 

cities, making them vibrant places to live, work and raise 

a family. And we at the SBA are working to ensure small 

businesses have the tools and resources they need to make 

that happen at every stage, whether they are launching, 

expanding or getting through a tough time.

Of course, we can’t do it alone. We are honored to have 

the expertise of our resource partners, including Small 

Business Development Centers, Women’s Business Centers, 

Veterans Business Outreach Centers and SCORE chapters in 

communities nationwide.

As the President noted at an event he hosted at the White 

House with more than a hundred entrepreneurs from all 

over the country, “America is on the verge of a golden age for 

small business.” The SBA is working to continue to revitalize 

a spirit of entrepreneurship in America and help America’s 

small businesses compete in a global economy. Entrepreneurs 

find that owning a business is one of the most effective ways 

to secure a financial future for themselves, provide for their 

families, exercise their commitments to their communities, 

and drive our country’s economic growth. I encourage all 

entrepreneurs to leverage the opportunities detailed in this 

resource guide to propel their businesses forward.

Regards,

Linda McMahon

SBA Administrator

THE U.S. SMALL BUSINESS ADMINISTRATION

A MESSAGE FROM THE ADMINISTRATOR
 5
6

published by

New South Media, Inc.

304.413.0104 | newsouthmediainc.com

PUBLISHER

Nikki Bowman, nikki@newsouthmediainc.com

ASSOCIATE EDITORS

Zack Harold, zack@newsouthmediainc.com 

Pam Kasey, pam@newsouthmediainc.com

DESIGNER

Becky Moore, becky@newsouthmediainc.com

OPERATIONS MANAGER

Allison Daugherty 

allison@newsouthmediainc.com

ADVERTISING SALES DIRECTOR 

Heather Mills

heather@newsouthmediainc.com

ADVERTISING SALES 

Kelley McGinnis, Bryson Taylor, Jeremiah Raines

Copyright: New South Media, Inc. Reproduction 

in part or whole is strictly prohibited without 

the express written permission of the publisher. 

© NEW SOUTH MEDIA , INC. 

ALL RIGHTS RESERVED

The U.S. Small Business Administration’s Office of

Marketing & Customer Service directs the publication of the Small Business Resource Guide under 

SBA Contract #SBAHQ–17–C–0018. SBA publication 

Spring 2018 National edition #mcs-0087.

WRITER/EDITOR

Becky Bosshart

(202) 205-6677

rebecca.bosshart@sba.gov

DIRECTOR OF MARKETING

Paula Panissidi Tavares

paula.tavares@sba.gov

PUBLIC AFFAIRS SPECIALIST

Kelley Daniels

kelley.daniels@sba.gov

The SBA’s participation in this publication is not an 

endorsement of the views, opinions, products or 

services of the contractor or any advertiser or other 

participant appearing here. All SBA programs and 

services are extended to the public on a nondiscriminatory basis. Printed in the United States of 

America. While every reasonable effort has been

made to ensure that the information contained here 

is accurate as of the date of publication, the information is subject to change without notice. The contractor that publishes this guide, the federal government, or agents thereof shall not be held liable for 

any damages arising from the use of or reliance on 

the information contained in this publication.

PUBLISHER'S LETTER

I

n 2008, after working in the 

magazine business in Chicago, 

Washington, D.C., and Mississippi 

for 10 years, I moved back to my 

home state of West Virginia to create 

my own media company, New South 

Media, Inc. It was the scariest thing I’ve 

ever done. I didn’t know the first thing 

about starting a business, and I funded 

it myself by ransacking my retirement 

funds. When I started, I had one unpaid 

employee—me.

I had never heard of the U.S. Small 

Business Administration. I had no role 

model or support system to walk me 

through the process. All I had was a 

stack of dog-eared how-to books and a 

bucketload of grit and determination. 

As an entrepreneur and a small 

business owner, I know firsthand the 

challenges small companies face. I 

live it everyday. I know what it is like 

to work 100-hour weeks, to pay your 

employees before yourself, and to 

need funding to grow your business, 

all while trying to raise educated and 

thoughtful children and still put dinner 

on the table. I know what it is like to be 

completely overwhelmed and to have 

doors slammed in your face, only to 

get up the next day and try, try again. 

I know what it feels like to fail. And I 

know what it feels like to succeed.

My goal when founding my company 

was to create publications that would be 

community builders, nurturing a culture 

that better encourages and supports 

small businesses by telling their stories. 

After all, small businesses outnumber 

corporations 1,162-to-one and are the 

lifeblood of our economy and culture. 

As I look back on the past 10 years of 

business ownership, the thing I most 

wish I had known is what a valuable 

resource the SBA is to small businesses 

like my own. I can think of hundreds 

of mistakes I wouldn’t have made and 

tons of tools I could have used in those 

early, difficult days. And I’m pretty sure 

I’d also have a few less grays in my hair.

When I first saw a copy of the SBA 

Resource Guide, I flipped through the 

pages eagerly. But as you can imagine, 

as an editor and publisher, I always 

read magazines with a critical eye, 

and I caught myself thinking what my 

company would do differently with the 

publication. 

It was four years ago when I 

decided to find out how to go about 

competing for the contract to become 

the publisher of the Small Business 

Resource Guide. I was introduced to the 

world of government contracting and 

the opportunities available for small 

businesses. And to be honest, it was 

a bit intimidating. As I navigated the 

process, there were many times when 

I almost stopped. Sometimes I thought 

there was no way a woman-owned 

small business in the rural state of 

West Virginia could compete and win 

a federal contract. But every time I 

had a question, someone from my SBA 

West Virginia district office was quick 

to answer it, and I kept persevering. 

That’s what we do as small business 

owners, right?

That’s why my team at New South 

Media and I are really excited to be 

the new publisher of the SBA’s Small 

Business Resource Guides. I’m inspired 

by the success stories we feature in 

each issue of this magazine, and it 

has been a pleasure to work with the 

SBA on redesigning and refocusing 

the content of these guides to better 

serve small businesses in all corners 

of the country. So, let's use this 

magazine to educate everyone so all 

small businesses can know about the 

resources available to them.

Wishing you much success,

Nikki Bowman

Publisher

New South Media Inc.
 7

message from the district director

Whether you’re starting or expanding a business, 

the SBA’s Vermont District Office and our 

Resource Partners can assist you with laying 

the foundation of your success. 

Last year, hundreds of Vermont’s 

entrepreneurs benefited from SBA resources. Most notably in 

fiscal year 2017, the SBA supported more than $40 million in 

guaranteed loans to Vermont small businesses.

Others received assistance from our SCORE offices, Vermont 

Small Business Development Centers, and the Vermont Women’s 

Business Center, which offers free, one-on-one business advisory 

services. Our SBA Resource Partners will assist you with writing 

your business plan, securing financing, developing marketing 

strategies, establishing an accounting system, and much more.

This guide will direct you to many resources located 

near you and your business. Whether you need to contact a 

regional development corporation, or speak with the Vermont 

Department of Taxes, all the information you need to make your 

business successful is located in this guide.

If there is anything I or my team can assist with, or if you have 

questions about the SBA, please call the Vermont District Office 

at (802) 828-4422, vermont_do@sba.gov, or visit sba.gov/vt.

Please let us know what we can do for you and your business.

Sincerely,

Darcy Carter

SBA Vermont District Director

SBA 

Vermont 

District 

Office

87 State St., suite 205

P.O. Box 605

Montpelier, VT 05601

(802) 828-4422

sba.gov/vt

District Director

Darcy Carter

(802) 828-4422 x203

darcy.carter@sba.gov

Economic Development Specialist 

& Veteran Business Officer

Chris Herriman

(802) 828-4422 x206

chris.herriman@sba.gov

Lender Relations Specialist

Susan Mazza

(802) 828-4422 x209

susan.mazza@sba.gov

Lender Relations Specialist

Kevin Morehouse

(802) 828-4422 x221

kevin.morehouse@sba.gov

Public Information Officer

Dan Monahan

(802) 828-4422 x215

daniel.monahan@sba.gov
8

Kristina Pence-Dunow did 

not intend to become a 

businesswoman, a cornerstone 

of her small town’s economy, 

and the nation’s only female owner of 

a transit vehicle manufacturer. In the 

beginning, she just wanted to keep the 

family business going.

Pence-Dunow was a dental assistant 

for the first several years of her adult 

life. Then, after giving birth to her son 

in 1988, she joined her husband’s family 

business. The company built fancy 

horse trailers as well as the occasional 

trackless trolley—a public transit 

vehicle designed to look like an oldtimey streetcar but set on a bus chassis. 

She started out doing bookkeeping and 

upholstery work. It was a small shop, so 

everyone wore several hats. 

Then, in the early 1990s, PenceDunow and her husband moved to 

Crandon, Wisconsin, so he could pursue 

a career in off-road racing. They took the 

trolley business with them. A few years 

later, her husband decided to devote his 

Hometown Trolley has found success through determination, creativity, 

and a little help from friends at the U.S. Small Business Administration.

full attention to racing. 

The couple eventually divorced and 

Pence-Dunow became sole owner of 

the business.

“I kept the trolleys going and raised 

my two children,” she says. The company 

made a few dozen vehicles each year, 

selling them through a distributor 

in Florida. Things were going well. 

At the time, all the nation’s trolley 

manufacturers were small, familyowned businesses. “We all just had 

our same customers and everybody 

stayed small.”

But then competition arrived. A 

large bus manufacturer began making 

trolleys, too. “They flooded the market. 

They had the capital behind them,” 

Pence-Dunow says. “I was being starved 

for sales.”

Other trolley companies shut their 

doors, but Pence-Dunow didn’t have 

a backup plan. She still had two kids 

to raise. So she did the only thing she 

could—she kept going.

LOCAL BUSINESS 

ASSISTANCE

written by Zack Harold

A Streetcar Named 

Persistence
 

9

 CLOCKWISE FROM TOP 

During the company's 

rebuilding period, Kristina 

Pence-Dunow had to lay off 

all her employees. Hometown 

Trolley now has more than 50 

full-time employees and plans 

to add more soon. 

Pence-Dunow poses with 

husband Joey, left, and SBDC 

President C.E. "Tee" Rowe after 

a ceremony in Washington, 

D.C., where she was named 

Wisconsin Small Business 

Person of the Year 2017. 

Hometown Trolley's factory 

floor has expanded from 6,000 

to 32,000 square feet—and the 

company is in the process of 

expanding again. 

Pence-Dunow says riders enjoy 

trolleys for their old-timey 

craftsmanship.

Still rolling

Since she knew her company could not 

compete with the bus manufacturer on 

volume, Pence-Dunow knew she would 

have to out-innovate them. She rebuilt the 

business from the ground up. She cut ties 

with her Florida distributor and created her 

own network of dealerships. She rebranded 

the company as Hometown Trolley. 

These changes came at a cost. PenceDunow had to lay off all her employees. She 

racked up debt. “I went six months with no 

work,” she says. But she was able to weather 

the storm, thanks to assistance from the 

U.S. Small Business Administration. 

About the time she was rebuilding and 

rebranding her company, Pence-Dunow 

met Chuck Brys of the Small Business 

Development Center at the University of 

Wisconsin–Green Bay. Brys connected her to 

a local bank with an in-house SBA specialist, 

who guided her through getting an SBAguaranteed loan to help cover her debt.

Brys also helped Pence-Dunow develop 

a business plan and put together threeyear projections for Hometown Trolley’s 

growth. He encouraged her to be aggressive 

with those projections. To Pence-Dunow’s 

surprise, her company did not just meet 

those projections—they exceeded them. 

Slowly, Hometown Trolley’s emphasis on 

innovation began to take hold. The company 

developed a handicap-accessible, low-floor 

trolley. The city of Virginia Beach, Virginia, 

ordered 15. The big bus manufacturer didn’t 

have a comparable model. 

Pence-Dunow began landing similar 

contracts around the country, slowly taking 

a lead in the trolley market. Then, in 2016, 

she was able to purchase the bus company’s 

trolley division. 

“I just kept sending the CEO an email,” 

Pence-Dunow says. It took a year and a half 

but, finally, the company agreed to sell. As 

luck would have it, the company wanted out 

of the trolley business so it could focus on its 

commercial truck line. 

It was a big expenditure for a small 

company, but Pence-Dunow knew from 

experience how to make it work. She took 

out another SBA-guaranteed loan.

Picking up speed

Hometown Trolleys can now be found 

everywhere from Roanoke, Virginia,to 

Miami, Florida, and Laguna Beach, 

California. The vehicles are also found on 

the campuses of universities, themeparks, 

and retirement villages. 
10

SBA Resource Partners

To help your business flourish, the SBA’s Resource Partners are here to help

guide you through every phase of the business cycle. They provide counseling 

and training, for free or low cost, nationwide. These independent organizations, 

funded through SBA cooperative agreements or grants, extend our reach.

Join the ranks of other business owners who have experienced higher revenues and 

increased growth thanks to mentoring they received from SCORE. The nation’s largest 

network of volunteer business mentors harnesses the passion and knowledge of realworld business executives to provide invaluable mentorship. SCORE mentors are available as often as you need, in person, via email or over video chat. Visit sba.gov/score to 

start working on your business goals.

SCORE

Small Business Development Center counselors can help entrepreneurs realize their 

dream of business ownership. SBDC counselors help your business remain competitive 

in an ever-changing global economy. You have access to free one-on-one counseling 

and low-cost training. Some of the counseling and training topics available: marketing, 

regulatory compliance, technology development and international trade. Find your local 

Small Business Development Center at sba.gov/sbdc.

SMALL BUSINESS DEVELOPMENT CENTERS

Women interested in starting their small businesses can tap into a national network 

of community-based Women’s Business Centers. The centers offer training and counseling to those looking to make their entrepreneurial mark. If you’re interested in starting 

or expanding your business, your local Women’s Business Center is a good place to start. 

Each center tailors services to its community, offering a variety of programs in finance,

management and marketing. For your nearest Women’s Business Center, visit 

sba.gov/women.

WOMEN’S BUSINESS CENTERS

Veteran entrepreneurs or small business owners can receive business training, counseling and mentoring, and referrals to other SBA Resource Partners at a Veterans Business 

Outreach Center, sba.gov/vboc. This is also the place to receive procurement guidance, 

which can help your business better compete for government contracts.

VETERANS BUSINESS OUTREACH CENTERS

There are more than 

300 SCORE chapters

980 Small Business Development Centers

100 Women’s Business Centers

20 Veterans Business Outreach Centers

“It’s an iconic American form of 

transportation,” Pence-Denow says. 

“A trolley is an experience. People 

will let a city bus go by and wait for 

a trolley.”

The company is still innovating. 

Pence-Dunow hopes to expand 

her line of electric and liquefied 

petroleum gas–powered trolleys. 

Hometown Trolleys also has 

designed bus bodies for its existing 

chassis and drivetrains. It’s a way 

of tapping a small but profitable 

market. Small municipalities 

often wait years for buses from 

large manufacturers, since major 

cities snatch up most of the supply. 

Hometown Trolley can fill those 

small orders in much less time.

 By 2020, Hometown Trolleys 

plans to be making more than 200 

buses and trolleys a year—far more 

than the dozen or so it was making 

when Pence-Dunow took over. 

“I can’t believe how much we’ve 

grown,” she says.

In the past four years alone, 

the company has gone from $2 

million in gross sales to $15 million. 

It moved from a 6,000-squarefoot shop to a 32,000-squarefoot factory, which is now being 

expanded. And, best of all, the 

company has grown its workforce 

from a dozen people to 54 fulltime employees and a few parttimers, with plans to add six more 

employees soon.

And it’s still a family business. 

Pence-Dunow’s daughter Jessica 

does marketing and graphic design 

for the company. Her son Dustin 

helps run the production floor. 

Without help from the SBA, 

“I would have never stepped out 

and known what to do,” PenceDunow says. “All of that, it was 

great learning experience that I 

still use today. I’m doing a lot more 

on my own, because I have more 

resources, but I can refer back to 

that.”

But she says the most important 

resource was the moral support. 

“Someone saying, ‘You can do 

this.’”

LOCAL BUSINESS ASSISTANCE
 11

LOCAL BUSINESS ASSISTANCE

Our Local 

SBA Resource 

Partners

SBA’s Resource Partners are independent organizations that are funded 

through SBA cooperative agreements or grants.

Arthur and Sandra Johnson, owners of 21 Short Stop in Georgia, 

received assistance from their local Small Business Development 

Center and SCORE chapter. 

SCORE

Visit sba.gov/score to start working on your 

business goals.

Champlain Valley SCORE

11 Lincoln St.

Essex Junction, VT 05452

(802) 951-6762

champlain.valley@scorevolunteer.org

champlainvalley.score.org

Upper Valley SCORE

20 West Park St.

Lebanon, NH 03766

(603) 448-3491

score@valley.net

uppervalleyscore.org

Small Business 

Development 

Center

Vermont Small Business 

Development Center 

P.O. Box 500

Randolph Center, VT 05061

(802) 728-9101 or 800-464-7232

vtsbdc.org
12

LOCAL BUSINESS ASSISTANCE

O'Connor Belting, a 

Delaware family-owned 

business, expanded 

with the help of an SBAguaranteed 7(a) loan.

Veterans Business 

Outreach Center

Veteran entrepreneurs or small business 

owners can receive business training, 

counseling and mentoring, and referrals to 

other SBA Resource Partners at a Veterans 

Business Outreach Center, sba.gov/vboc. 

This is also the place to receive procurement 

guidance, which can help your business 

better compete for government contracts.

Veterans Business Outreach 

Center of New England

132 George M. Cohan Blvd.

Providence, RI 02903

(844) 404-2171

info.vboc@cweonline.org

cweonline.org/vermont/vboc

Women’s 

Business Centers

For your nearest Women’s Business 

Center, visit sba.gov/women.

Center for Women 

and Enterprise

431 Pine St., suite 101

Burlington, VT 05401

(802) 391-4870

cweonline.org
 13

LOCAL BUSINESS ASSISTANCE

Advocacy

When you need a voice within the federal government for your interests as a small business 

owner, the SBA’s regional advocates are here 

to assist. The advocates analyze the effects of

proposed regulations and consider alternatives that minimize the economic burden on 

small businesses, governmental jurisdictions 

and nonprofits. Find yourregional advocate

at sba.gov/advocacy.

• Your advocate helps with these small 

business issues:

• If your business could be negatively 

affected by regulations proposed by the

government

• If you have contracting issues with a 

federal agency

• When you need economic and small business statistics

The SBA’s Office of Advocacy also independently represents small business and 

advances its concerns before Congress, the 

White House, federal agencies, the federal 

courts and state policy makers. 

Ombudsman

Entrepreneurs who have an issue with an 

existing federal regulation or policy can 

receive assistance from the SBA’s national 

ombudsman.

• The ombudsman’s office helps you:

• Resolve regulatory disputes with federal 

agencies

Your 

Advocates

• Reduce unfair penalties and fines

• Seek remedies when rules are inconsistently applied

• Recover payment for services done 

by government contractors

Make your voice heard by participating 

in a Regional Regulatory Enforcement 

Fairness Roundtable or a public hearing 

hosted by the SBA’s national ombudsman. 

These events are posted periodically on 

the ombudsman website.

To submit a comment or compliant 

through the online form, visit sba.gov/

ombudsman/comments. Your concerns will 

be directed to the appropriate federal agency 

for review. The SBA will collaborate with you 

and the agency to help resolve the issue.

To report how a proposed federal 

regulation could unfairly affect you, 

find your regional SBA advocate at 

sba.gov/advocacy.

To submit a comment about how your 

business has been hurt by an existing 

regulation, visit sba.gov/ombudsman/

The SBA’s offices of advocacy and ombudsman are comments.

independent voices for small business within the 

federal government.
14

LOCAL BUSINESS ASSISTANCE

How to Start a Business 

in Vermont

Thinking of starting a business? Here are the nuts and bolts.

NIKKI BOWMAN

The Startup Logistics

Even if you’re running a home-based business, you will have to comply 

with many local, state, and federal regulations. Do not ignore regulatory 

details. You may avoid some red tape in the beginning, but your lack 

of compliance could become an obstacle as your business grows. 

Taking the time to research the applicable regulations is as important 

as knowing your market. Carefully investigate the laws affecting your 

industry. Being out of compliance could leave you unprotected legally, 

lead to expensive penalties, and jeopardize your business.

Business License & Zoning

Licenses are typically administered by a variety of state 

and local departments. It is important to consider zoning 

regulations when choosing a site for your business. Contact 

the local business license office where you plan to locate 

your business. You may not be permitted to conduct 

business out of your home or engage in industrial activity 

in a retail district.
 15

LOCAL BUSINESS ASSISTANCE

Del Ferguson, owner of Hunter Cattle, is a familyowned farm in Brooklet, Georgia, and was assisted 

by his local Small Business Development Center.

Name Registration

Register your business name with the county clerk where 

your business is located. If you’re a corporation, also 

register with the Vermont Secretary of State.

» Vermont Secretary of State

128 State St., Montpelier, VT 05633

(802) 653-6814

sec.state.vt.us

Taxes

Any business with employees must register with the IRS 

and acquire an Employer Identification Number, also 

known as the Federal Tax ID Number, and pay federal 

withholding tax at least quarterly. The IRS Small Business/

Self-Employed Tax Center: irs.gov/businesses. Here you 

can find the online tax calendar, forms and publication, 

and online learning.

Internal Revenue Service Tax Assistance Centers

» Brattleboro 

1222 Putney Road, Brattleboro, VT 05301

» Burlington

128 Lakeside Ave., Burlington, VT 05401

» Montpelier

87 State St., room 204, Montpelier, VT 05601

» Rutland 

1085 U.S. Route 4 East, Rutland, VT 05701

Vermont Department of Taxes

133 State St., Montpelier, VT 05633

(802) 828-2505, tax.vermont.gov

Business Tax Section

(802) 828-2551, tax.business@vermont.gov

Corporate Income Tax Section

(802) 828-5723, tax.corporate@vermont.gov
16

LOCAL BUSINESS ASSISTANCE

Jusak Bernhard and Jeff Manley, 

owners of TailsSpin, grew their 

business in Savannah, Georgia, 

with the help of an SBA microloan.

for profitable employment; assuring work-related benefits and 

rights, dol.gov.

Wage and Hour Division

1155 Elm St., suite 501 

Manchester, NH 03101 

(603) 666-7716, dol.gov

Vermont Department of Labor 

The Vermont Department of Labor’s promotes economic strength 

by assisting employers with job creation, retention and recruitment 

» Vermont Department of Labor

5 Green Mountain Drive

Montpelier, VT 05601

(802) 828-4000

labor.vermont.gov

Health & Safety

All businesses with employees are required to comply with state 

and federal regulations regarding the protection of employees. 

The Occupational Safety and Health Administration provides 

information on the specific health and safety standards used by 

the U.S. Department of Labor, (800) 321-6742 or visit osha.gov.

» Vermont Department of Labor

Project WorkSAFE

P.O. Box 488, Montpelier, VT 05601

(888) 723-3937

labor.vermont.gov/project-worksafe

Social Security

If you have any employees, including officers of a corporation 

but not the sole proprietor or partners, you must make periodic 

payments, and/or file quarterly reports about payroll taxes and 

other mandatory deductions. You can contact the IRS or the Social 

Security Administration for information, assistance and forms, 

socialsecurity.gov/employer or (800) 772-1213. You can file W-2s 

online or verify job seekers through the Social Security Number 

Verification Service.

E-Verify: Employment Eligibility 

Verification

The Federal Immigration Reform and Control Act of 1986 requires 

employers to verify employment eligibility of new employees. 

The law obligates an employer to process Employment Eligibility 

Verification Form I-9. The U.S. Citizenship and Immigration Services 

Office of Business Liaison offers a selection of information bulletins 

and live assistance through the Employer Hotline. For forms call 

(800) 870-3676, for the employer hotline call (800) 357-2099.

E-Verify is operated by the Department of Homeland Security 

in partnership with the Social Security Administration. It’s the 

quickest way for employers to determine the employment eligibility 

of new hires. It is a secure system that electronically verifies the 

Social Security number and employment eligibility information 

reported on Form I-9. Visit dhs.gov/e-verify or call (888) 464-4218 or 

e-mail e-verify@dhs.gov.

Department of Labor

The U.S. Department of Labor promotes and develops the welfare 

of the wage earners, job seekers, and retirees of the United 

States; improving working conditions; advancing opportunities 
 17

LOCAL BUSINESS ASSISTANCE

» VT Department of Labor Compliance Assistance

P.O. Box 488, Montpelier, VT 05601

(802) 334-4367

labor.vermont.gov/vosha/compliance-assistance

» Vermont Occupational Safety & Health Administration

Workers Compensation Board, (802) 828-0408

labor.vermont.gov/vosha

Unemployment Compensation

A business is required to pay state unemployment tax if it employs at 

least one worker for some part of a day in each of 20 different weeks in a 

calendar year or it pays wages of at least $1,500 during a calendar quarter.

Disability Compliance

For assistance with the Americans with Disabilities Act call (800) 669-

3362 or visit ada.gov.

Patents & Trademarks

A patent is the grant of a property right to the inventor by the U.S. 

Patent and Trademark Office, (800) 786-9199, or visit uspto.gov. It 

provides the owner with the right to exclude others from making, 

using, offering for sale or selling the patented item in the United States.

Trademarks or service marks are words, phrases, symbols, designs 

or combinations that identify and distinguish the source of goods. 

Trademarks may be registered at both the state and federal level. 

Trademarks and service marks may be registered in a state, but 

federally registered trademarks may conflict with and supersede 

state registered business and product names.

State registration of a trademark

Articles of incorporation, trademark registration with the Vermont 

Secretary of State

128 State St., Montpelier, Vermont 05633, (802) 828-2363

sec.state.vt.us/corporationsbusiness-services/trademarks.aspx

Copyrights

Copyrights protect original works of authorship including literary, 

dramatic, musical and artistic, and certain other intellectual works. 

Copyrights do not protect facts, ideas and systems, although it may 

protect the way these things are expressed. Contact the U.S. Copyright 

Office at (202) 707-3000 or toll free (877) 476-0778, copyright.gov.

Vermont Regional Development 

Corporations

Every area in the state is served by a Regional Development 

Corporation staffed by a full time professional who is responsible 

for encouraging economic development. A wide range of help is 

available from financial packaging to permit assistance, to locating 

space and making contacts.

Addison County Economic Development Corp.

1590 U.S. Route 7 South, suite 8, Middlebury, VT 05753

(802) 388-7953, addisoncountyedc.org

Bennington County Industrial Corp.

111 South St., suite 203, Bennington, VT 05201

(802) 442-0713

bcic.org

Brattleboro Development Credit Corp.

76 Cotton Mill Hill, Brattleboro, VT 05301

(802) 257-7731

brattleborodevelopment.com 

Central Vermont Economic Development Corp.

1 National Life Drive, Montpelier, VT 05604

(802) 223-4654

cvedc.org

Franklin County Industrial Development Industrial Corp.

2 North Main St., St. Albans, VT 05478

(802) 524-2194

fcidc.com

Greater Burlington Industrial Corp.

60 Main St., suite 101, Burlington, VT 05401

(802) 862-5726

gbicvt.org

Green Mountain Economic Development Corp.

35 Railroad Row, suite 101, White River Junction, VT 05001

(802) 295-3710

gmedc.com

Lake Champlain Islands Economic Development Corp.

3501 U.S. Route 2North Hero, VT 05474

(802) 372-8400

champlainislands.com

Lamoille Economic Development Corp.

582 Laporte Road, Morrisville, VT 05661

(802) 888-5640

lamoilleeconomy.org

Northeastern Vermont Development Association

36 Eastern Ave., St. Johnsbury, VT 05819

(802) 748-5181

nvda.net

Rutland Economic Development Corp.

67 Merchants Row

City Center, suite 6

Rutland, VT 05701

(802) 773-9147

rutlandeconomy.com

Springfield Regional Development Corp.

14 Clinton St., suite 7

Springfield, VT 05156

(802) 885-3061

springfielddevelopment.org
18

Vermont Chamber

P.O. Box 37

Montpelier, VT 05601

(802) 223-3443

vtchamber.com

Addison County 

93 Court St.

Middlebury, VT 05753

(802) 388-7951

addisoncounty.com

Barton Area

P.O. Box 776

Barton, VT 05822

(802) 239-4147 

centerofthekingdom.com

Bennington Area

100 Veterans Memorial Drive

Bennington, VT 05201

(802) 447-3311

bennington.com

Brandon Area

P.O. Box 267

Brandon, VT 05733

(802) 247-6401

brandon.org

Brattleboro Area

180 Main St.

Brattleboro, VT 05301

(802) 254-4565

brattleborochamber.org

Burke Area

P.O. Box 347

East Burke, VT 05832

(802) 626-4124

burkevermont.com

Central Vermont

33 Stewart Road

P.O. Box 336

Barre, VT 05641

(802) 229-5711

central-vt.com

Danville

P.O. Box 253

Danville, VT 05828

danvillevtchamber.org

Dorset

P.O. Box 121

Dorset, VT 05251

(802) 440-0455

dorsetvt.com

Vermont Lakes Region

P.O. Box 206

Fair Haven, VT 05743

(802) 265-8600

vtlakesregionchamber.org

Franklin County Regional

2 North Main St., suite 101

St. Albans, VT 05478

(802) 524-2444

visitfranklincountyvt.com

Great Falls Regional

17 Depot St.

Bellows Falls, VT 05101

(802) 463-4280

gfrcc.org

Hardwick Area

P.O. Box 111

Hardwick, VT 05843

(802) 472-5906

heartofvt.com

Hartford Area 

P.O. Box 823

5966 Woodstock Road

Quechee, VT 05059

(802) 295-7900

hartfordvtchamber.com

Island Pond Area

P.O. Box 255

Island Pond, VT 05846

(802) 673-1854

islandpondchamber.org

Top of Vermont

P.O. Box 218, Troy, VT 05868

(802) 988-4120

topofvt.com

Killington

2319 U.S. Route 4

Killington, VT 05751

(802) 773-4181

killingtonpico.org

Lake Champlain Regional

60 Main St.

Burlington, VT 05401

877-686-5253

vermont.org

Lamoille Region 

92 Lower Main St.

P.O. Box 1459

Morrisville, VT 05661

(802) 888-7607

lamoillevalleychamber.com

Lyndon Area

P.O. Box 886

Lyndonville, VT 05851

(802) 626-9696

lyndonvermont.com

Mad River Valley

General Wait House – 

Route 100

P.O. Box 173

Waitsfield, VT 05673

(802) 496-3409

madrivervalley.com

Southern Vermont Deerfield 

Valley

21 West Main St.

Wilmington, VT 05363

(802) 464-8092

visitvermont.com

North Country

246 The Causeway

Newport, VT 05855

(802) 334-7782

vtnorthcountry.org

Northeast Kingdom

2000 Memorial Drive, suite 11

St. Johnsbury, VT 05819

(802) 748-3678

nekchamber.com

Okemo Valley Regional 

57 Pond St.

Ludlow, VT 05149

(802) 228-5830

yourplaceinvermont.com

Poultney Area

66 Beaman St.

Poultney, VT 05764

(802) 287-2010

poultneyvt.com

Rutland Region

50 Merchants Row

Rutland, VT 05701

(802) 773-2747

rutlandvermont.com

Smuggler’s North Area

P.O. Box 364

Jeffersonville, VT 05464

(802) 242-0426

smugnotch.com

Springfield

56 Main St., suite 2

Springfield, VT 05156

(802) 885-2779

springfieldvt.com

Stowe 

P.O. Box 1320

Stowe, VT 05672

(802) 253-7321

gostowe.com

Swanton

P.O. Box 237

Swanton, VT 05488

(802) 868-7200

swantonchamber.com

Upper Valley Bi-State 

Regional

P.O. Box 697

White River Junction, VT 05001

(802) 295-6200

uppervalleychamber.com

Waterbury Tourism Council

P.O. Box 468

Waterbury, VT 05676

discoverwaterbury.com

White River Valley

31 VT Route 66, suite 1

Randolph, VT 05060

(802) 728-9027

whiterivervalleychamber.com

Woodstock Area

P.O. Box 486

Woodstock, VT 05091

(802) 457-3555 

woodstockvt.com

Chambers of 

Commerce

LOCAL BUSINESS ASSISTANCE
 19

1 Conduct market research.

Market research will tell you if there’s an opportunity to turn 

your idea into a successful business. It’s a way to gather information about potential customers and businesses already operating 

in your area. Use that information to find a competitive advantage

for your business.

2 Write your business plan.

Your business plan is the foundation of your business. 

It’s a roadmap for how to structure, run, and grow your new 

business. You’ll use it to convince people that working with you— or 

investing in your company—is a smart choice.

3 Fund your business.

Your business planwill help you figure out how much money

you’ll need to start your business. If you don’t have that amount 

on hand, you’ll need to either raise or borrow the capital. Fortunately, 

there are moreways than everto find the capital you need.

10 STEPS 

to Start Your 

Business

Starting a business involves planning, making 

key financial decisions, and completing a series 

of legal requirements.

4 Pick your business location.

Your business location is one of the most important decisions you’ll make. Whether you’re setting up a brick-and 

mortar business or launching an online store, the choices you 

make could affect your taxes, legal requirements, and revenue.

5Choose a business structure.

The legal structure you choose for your business will

impact your business registration requirements, how

much you pay in taxes, and your personal liability.

6 Choose your business name.

It’s not easy to pick the perfect name. You’ll want one

that reflects your brand and captures your spirit. You’ll

also want to make sure your business name isn’t already being

used by someone else.

7 Register your business.

Once you’ve picked the perfect business name, it’s time

to make it legal and protect your brand. If you’re doing

business under a name different than your own, you’ll need to

register with the federal government, and maybe your state

government, too.

8Get federal and state tax IDs.

You’ll use your Employer Identification Number (EIN)

for important steps to start and grow your business, 

like opening a bank account and paying taxes. It’s like a social

security number for your business. Some—but not all—states

require you to get a tax ID as well.

9Apply for licenses and permits.

Keep your business running smoothly by staying legally

compliant. The licenses and permits you need for your

business will vary by industry, state, location, and other factors.

10 Open a business bank account.

A small business checking account can help you

handle legal, tax, and day-to-day issues. The good

news is it’s easy to set one up if you have the right registrations

and paperwork ready.

LOCAL BUSINESS ASSISTANCE
20

local success story

Mike Rainville

PRESIDENT, MAPLE LANDMARK, INC.

Middlebury, Vermont

Maple Landmark began in the late 1970s, when 

high school student Mike Rainville started creating 

wood toys in his parents’ basement in Lincoln, 

Vermont. In 1979, at age 16, Mike started selling 

his woodwork wholesale. After Mike graduated 

from college in 1984, he and his grandfather built a 

three-story, 3,500-square-foot workshop in Lincoln 

to expand Maple Landmark and make it a full-time 

operation.

After acquiring a local toy company in 1987, 

Mike started producing a line of wooden toy trains, 

which were a holdover product from the company 

he bought. The NameTrains—two-inch-high 

magnetic, brightly colored wooden train cars in the 

shape of letters—launched in 1994 and became the 

company’s signature product. The success of the 

NameTrains led to a 75 percent increase in sales. By 

the mid-1990s, the company was manufacturing a 

diverse array of children’s toys, educational aids, 

and novelty items used in product marketing. It had 

outgrown its workshop, so in 1996 Maple Landmark 

moved into a new 6,400-square-foot facility and 

showroom. Three years later, Mike used an SBA 

loan to cover the cost of an 8,500-square-foot 

expansion.

Maple Landmark faced a five-year downturn in 

sales beginning in 2002. One of several factors that 

caused the decline was Chinese imports. Failure 

not being an option, Mike made shrewd financial 

decisions. The company never missed a payroll, 

refinanced some debt, always made its tax and bank 

payments, and paid themselves last. A 2007 lead 

paint recall of Chinese toys led to the turnaround. By 

years end, sales were back to 2001 levels.

• How has the SBA helped you grow your business? Primarily, 

we have had SBA guarantees to get expansion loans for past 

construction. We have also consulted a bit with the Vermont Small 

Business Development Center, which is an SBA Resource Partner.

• What are the biggest challenges you face as a small business 

owner? As a manufacturer, our biggest challenge is competing 

against Asian imports. Our customers tell us our prices are fair, 

considering our great service and quality, but that doesn't change the 

fact that many people seek the lowest possible price for the minimum 

acceptable quality. We succeed by carving out numerous small 

niches, which makes the business rather complex to operate.

• What advice do you have for other small businesses? My advice 

to small business owners is to be as knowledgeable about all the 

relevant disciplines in your business as possible, especially when you 

are starting out. That helps you to make good decisions on the fly

when every decision can be critical. Even an established business has 

trouble finding and affording all of the expertise it needs to cover all

the complexities that exist today. Learning to cover your own bases 

can be very beneficial.

• What are your future plans for expansion, if any? We made a 

major facility expansion in 2015, and that will cover us for a while. 

Now, we are working on keeping our technology up to date. That is a 

never-ending challenge.

• What do you find are the satisfactions of small business

ownership? I like all the different hats I wear—it keeps life interesting.

I can be very technical one minute and very creative the next. I think 

every business owner quickly learns that you don’t have the freedom 

with your time that everyone else thinks you have. However, the 

opportunity to pursue a passion, in at least a somewhat self-directed 

way, can be rewarding.
 21

My advice to small business owners is to be as 

knowledgeable about all the relevant disciplines in 

your business as possible, especially when you are 

starting out. That helps you to make good decisions 

on the fly when every decision can be critical.”

Mike Rainville

President, Maple Landmark, Inc.
22

Write your 

Business Plan

Traditional Business Plan

• This type of plan is very detailed, takes more time 

to write, and is comprehensive. 

• Lenders and investors commonly request this 

plan.

Lean Startup Plan

• This type of plan is high-level focus, fast to write, 

and contains key elements only. 

• Some lenders and investors may ask for more 

information.

Which business 

plan format is 

right for you?

Business plans help you run your business

A good business plan guides you through each stage of starting and managing 

your business. You’ll use your business plan as a roadmap for how to structure, 

run, and grow your new business. It’s a way to think through the key elements of 

your business.

Business plans can help you get funding or bring on new business partners. 

Investors want to feel confident they’ll see a return on their investment. Your

business plan is the tool you’ll use to convince people that working with you— 

or investing in your company—is a smart choice.

Pick a business plan format that works for you

• There’s no right or wrong way to write a business plan. What’s important is 

that your plan meets your needs.

• Most business plans fall into one of two common categories: traditional or lean 

startup.

• Traditional business plans are more common, use a standard structure, and 

encourage you to go into detail in each section. They tend to require more 

work upfront and can be dozens of pages long.

• Lean startup business plans are less common but still use a standard structure. They focus on summarizing only the most important points of 

the key elements of your plan. They can take as little as one hour to make 

and are typically only one page.

Your business plan is the foundation of your business. Learn how to write a 

business plan quickly and efficiently with a business plan template.

LOCAL BUSINESS ASSISTANCE
 23

You might prefer a traditional business plan format if you’re very 

detail oriented, want a comprehensive plan, or plan to request 

financing from traditional sources.

When you write your business plan, you don’t have to stick to the 

exact business plan outline. Instead, use the sections that make the 

most sense for your business and your needs. Traditional business 

plans use some combination of these nine sections.

Executive Summary

Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and 

basic information about your company’s leadership team, employees, and location. You should also include financial information and

high-level growth plans if you plan to ask for financing.

Company Description

Use your company description to provide detailed information about 

your company. Go into detail about the problems your business 

solves. Be specific, and list out the consumers, organization, or businesses your company plans to serve.

Explain the competitive advantages that will make your business 

a success. Are there experts on your team? Have you found the perfect location for your store? Your company description is the place to 

boast about your strengths.

Market Analysis

You'll need a good understanding of your industry outlook and target 

market. Competitive research will show you what other businesses are 

doing and what their strengths are. In your market research, look for 

trends and themes. What do successful competitors do? Why does it 

work? Can you do it better? Now's the time to answer these questions.

Organization and Management

Tell your reader how your company will be structured and who 

will run it.

Describe the legal structure of your business. State whether 

you have or intend to incorporate your business as a C or an 

S corporation, form a general or limited partnership, or if you're 

a sole proprietor or LLC.

Use an organizational chart to lay out who's in charge of what in 

your company. Show how each person's unique experience will contribute to the success of your venture. Consider including resumes or 

CVs of key members of your team.

Service or Product Line

Describe what you sell or what service you offer. Explain how it benefits your customers and what the product lifecycle looks like. Share

your plans for intellectual property, like copyright or patent filings. If

you're doing research and development for your service or product, 

explain it in detail.

Marketing and Sales

There's no single way to approach a marketing strategy. Your strategy should evolve and change to fit your unique needs.

Your goal in this section is to describe how you'll attract and retain 

customers. You'll also describe how a sale will actually happen. 

You'll refer to this section later when you make financial projections,

so make sure to thoroughly describe your complete marketing and 

sales strategies.

Funding Request

If you're asking for funding, this is where you'll outline your funding 

requirements. Your goal is to clearly explain how much funding you’ll 

need over the next five years and what you'll use it for.

Specify whether you want debt or equity, the terms you'd like 

applied, and the length of time your request will cover. Give a 

detailed description of how you'll use your funds. Specify if you need 

funds to buy equipment or materials, pay salaries, or cover specific

bills until revenue increases. Always include a description of your 

future strategic financial plans, like paying off debt or selling your

business.

Financial Projections

Supplement your funding request with financial projections. Your

goal is to convince the reader that your business is stable and will be 

a financial success.

If your business is already established, include income statements, balance sheets, and cash flow statements for the last three

to five years. If you have other collateral you could put against a loan,

make sure to list it now.

Provide a prospective financial outlook for the next five years.

Include forecasted income statements, balance sheets, cash flow

statements, and capital expenditure budgets. For the first year, be

even more specific and use quarterly—or even monthly —projections. Make sure to clearly explain your projections, and match them 

to your funding requests.

This is a great place to use graphs and charts to tell the financial

story of your business. 

Appendix

Use your appendix to provide supporting documents or other materials 

that were specially requested. Common items to include are credit histories, resumes, product pictures, letters of reference, licenses, permits, 

patents, legal documents, and other contracts.

• Executive summary

• Company description

• Market analysis

• Organization and 

management

• Service or product line

• Marketing and sales

• Funding request

• Financial projections

• Appendix

TRADITIONAL 

BUSINESS PLAN FORMAT

TRADITIONAL BUSINESS PLAN CHECKLIST 

LOCAL BUSINESS ASSISTANCE
24

Want to see 

an example 

of a business 

plan? 

View examples of both 

business plan formats at 

sba.gov/business-guide/

plan/write-your-businessplan-template

If you fail to plan, you 

are planning to fail.”

Benjamin Franklin

• Key partnerships

• Key activities

• Key resources

• Value proposition

• Customer relationships

• Customer segments

• Channels

• Cost structure

• Revenue streams

You might prefer a lean startup format if you want to explain or start your business quickly, 

your business is relatively simple, or you plan to regularly change and refine your business plan.

Lean startup formats are charts that use only a handful of elements to describe your 

company’s value proposition, infrastructure, customers, and finances. They’re useful for

visualizing tradeoffs and fundamental facts about your company.

There are many versions of lean startup templates, but one of the oldest and most well known 

is theBusinessModelCanvas, developed by AlexOsterwalder. You can search theweb to find free

templates of the Business Model Canvas, or other versions, to build your business plan.

We’ll discuss the nine components of the Business Model Canvas version here.

Key Partnerships

Note the other businesses or services you’ll work with to run your business. Think about 

suppliers, manufacturers, subcontractors and similar strategic partners.

Key Activities

List the ways your business will gain a competitive advantage. Highlight things like selling 

direct to consumers or using technology to tap into the sharing economy.

Key Resources

List any resource you’ll leverage to create value for your customer. Your most important 

assets could include staff, capital, or intellectual property. Don’t forget to leverage business

resources that might be available to women, veterans, Native Americans, 

and HUBZone–certified businesses.

Value Proposition

Make a clear and compelling statement about the unique value your company brings 

to the market.

Customer Relationships

Describe how customers will interact with your business. Is it automated or personal? 

In person or online? Think through the customer experience from start to finish.

Customer Segments

Be specific when you name your target market. Your business won’t be for everybody,

so it’s important to have a clear sense of who your business will serve.

Channels

List the most important ways you’ll talk to your customers. Most businesses use a mix 

of channels and optimize them over time.

Cost Structure

Will your company focus on reducing cost or maximizing value? Define your strategy,

then list the most significant costs you’ll face pursuing it.

Revenue Streams

Explain how your company will actually make money. Some examples are direct sales, memberships fees, and selling advertising space. If your company has multiple revenue streams, 

list them all.

LEAN STARTUP PLAN FORMAT

LEAN STARTUP PLAN 

CHECKLIST 

LOCAL BUSINESS ASSISTANCE
 25

Entrepreneurship training is available through the SBA’s programs 

for veterans, sba.gov/veterans. This includes active duty service 

members, those transitioning out of service, National Guard and 

Reserve members, and military spouses in the United States and at 

military installations around the world. Connect to other entrepreneurs and your local network of SBA Resource Partners through 

these services and programs. Veterans Business Outreach Centers, 

sba.gov/vboc, provide business training and counseling to those 

interested in starting or growing a small business.

Entrepreneurship Training Programs

Boots to Business is an entrepreneurial training program offered

by the SBA as a training track within the Department of Defense’s 

Transition Assistance Program. The curriculum provides valuable 

assistance to those transitioning out of service and their spouses. You 

explore business ownership and other self-employment opportunities 

while learning key business concepts. Participants learn how to access 

start-up capital using SBA resources. This program provides the 

foundational knowledge required to develop a business plan.

Boots to Business: Reboot delivers the Boots to Business curriculum to veterans of all eras, members of the National Guard and 

Reserve, and military spouses in their local communities.

Programs 

for Veterans

Veteran-owned and service-disabled veteran-owned businesses 

nationwide interested in federal contracting can receive entrepreneurship guidance from the Veteran Federal Procurement Entrepreneurship 

Training Program. This program is administered by the Veteran Institute 

for Procurement, which has three training programs to assist veterans, 

VIP START, VIP GROW, and VIP INTERNATIONAL.

The Women Veteran Entrepreneurship Training Program

serves women who are veterans, service members, and spouses of 

service members and veterans as they start or grow their business.

Loan Fee Relief

To encourage lending to veterans who want to start or grow their 

businesses, the SBA reduces upfront guarantee fees on select loans. 

That means the cost savings will be passed down to you, 

the eligible veteran. To learn about this loan fee relief, contact 

your local SBA district office or ask your SBA Lender about the

Veterans Advantage program.

Interested in doing 

business with the 

government? 

Learn about the Service-Disabled 

Veteran-Owned Small Business Concern 

contracting program on page 46.

Have an employee 

who was called to active duty?

Ask your SBA Lender about the Military Reservist 

Economic Injury Disaster Loan Program. It provides 

loans up to $2 million to small businesses for working 

capital caused by the loss of an essential employee 

called to active duty in the National Guard or Reserve.

Jack Goodison, a veteran, grew his business 

in Rhode Island, J. Goodison Co., with the 

help of an SBA-guaranteed 504 loan. 

If you are a veteran or a service-disabled veteran, 

there are many opportunities for you and your 

small business.

LOCAL BUSINESS ASSISTANCE
26

The SBA’s free Online Learning Center

courses help you start and grow your 

small business. The Learning Center 

is a great resource for every entrepreneur, especially rural business owners 

looking for easy access to vital business 

training. Courses available include:

• Writing your business plan

• Legal requirements for your small 

business

• Small business financing options

• Digital and traditional marketing to 

win customers

• Your options during a disaster

• Access the SBA’s Learning Center at 

sba.gov/learning.

Aspiring entrepreneurs can learn how 

to launch a business with the Business 

Smart Toolkit. This online workshop 

lays the groundwork, teaching you how 

to build a business that is ready to take 

on credit.

• The three parts of the toolkit:

• Basics of business startup

• Building business credit

• How to find additional small business

support and educational resources

The toolkit can be presented as a class, 

like within a community organization, 

or for small group or individual at-home 

use. The toolkit and instructor guide are 

written so that a community volunteer 

can feel comfortable presenting the 

information. Find the free download at 

sba.gov/businesssmart.

Online Resources 

for Entrepreneurs

Find short courses 

and learning tools 

to start and grow 

your small business 

at the sba.gov 

Learning Center.

Business executives looking for their next 

challenge and the opportunity to take their 

business to the next level will find it with the

SBA’s Emerging Leaders program, 

sba.gov/emergingleaders.

Graduates of Emerging Leaders, an 

intense seven-month entrepreneurship 

program, reported that they have been able 

to grow their businesses and drive economic 

development within their communities. 

Emerging Leaders executives are chosen 

through a competitive selection process. 

The program fosters a learning environment 

that accelerates the growth of high-potential 

small businesses, while providing training 

and peer networking sessions.

Emerging Leaders graduates join a 

network of 5,000 alumni nationwide. Since 

the start of the program, graduates have 

reported gaining more than $300 million 

total in new financing and securing over

$2.16 billion in government contracts.

Entrepreneurs receive business 

counseling and assistance at the 

Philadelphia SBA district office in 

King of Prussia.

Programs for 

Entrepreneurs

SBA’s Emerging Leaders program helps grow businesses.

LOCAL BUSINESS ASSISTANCE
 27

American Indians, Alaska Natives, and Native Hawaiians seeking 

entreprenurial development training can start and grow their business with the help of these SBA-supported programs. The 

SBA, sba.gov/naa, also consults with tribal governments prior 

to finalizing SBA policies affecting tribes.

The Cherokee Nation

Tahlequah, Oklahoma

Receive executive coaching in financial management, sales, marketing

and product management. Visit cherokee.org/contact.aspx.

Oregon Native American Business and 

Entrepreneurial Network

Portland, Oregon & Tulsa, Oklahoma

Develop your business on native lands and find peer mentoring that

focuses on building native microenterprise throughout Oregon, 

Oklahoma, Texas and New Mexico. Visit onaben.org.

Rural Enterprises of Oklahoma, Inc. (REI Oklahoma)

Durant, Oklahoma

Do you need business counseling, 8(a) certification assistance and

Programs for 

Native Americans

other training? The organization has two Native American business 

resource centers in Oklahoma. Visit reiok.org.

The Native American Development Corporation 

North Billings, Montana

Receive counseling in government contracting through the SBA’s 8(a) 

program and other federal and state programs. Register to attend 

networking events, conferences and workshops at 

nadc.ecenterdirect.com/signup.

Hi'ilei Aloha LLC

Honolulu, Hawaii

Do you have an idea and want to see if it could become a successful 

business? For the next entrepreneurship course for Native Hawaiians, 

visit hiilei.org.

Indian Dispute Resolution Services, Inc. 

Plymouth, California

Tribal members in California, Nevada, and Oregon can receive computer accounting and business training through the microenterprise 

initiatives at idrsinc.org.

The SBA helps American Indians, Alaska Natives, and Native Hawaiians 

start and grow their businesses. iStock.com/ LaraBelova

LOCAL BUSINESS ASSISTANCE
28

When Garrett Marrero 

and Melanie Oxley 

applied for loans to buy 

a brewpub in Maui in 

2004, it didn’t go well.

“We got laughed out of every bank in 

the state,” Marrero likes to say. 

As it turns out, they would have 

been a good risk. Over the past 14 

years, Marrero and Oxley have built 

an operation that employs hundreds, 

sells internationally, and enriches its 

community. They were recognized by the 

U.S. Small Business Administration in 

2017 as National Small Business Persons 

of the Year.

A California native, Marrero grew up 

in a family that appreciates craft beer. He 

A Good Risk

An SBA loan guarantee helps Hawaii entrepreneurs Garrett Marrero 

and Melanie Oxley hop up their brewing operation.

tried homebrewing in high school and had 

friends who brewed. “When I traveled, 

experiencing the local beer was always 

important to me,” he says. “So when I 

came to Hawaii, I thought the local beer 

was ridiculous. I knew I could put people 

together to make great beer.”

He and Oxley were living and 

working in California and, in 2004, 

decided to move to Hawaii and brew 

beer. They learned that the Fish and 

Game Brewing Company on Maui was 

for sale. Since banks wouldn’t finance 

the inexperienced entrepreneurs, 

they sold and mortgaged everything 

they could, plundered retirement 

funds, and borrowed from parents and 

grandparents in order to buy the sevenbarrel brewpub and restaurant. 

FUNDING PROGRAMS

Financing Your Small Business

written by Pam Kasey
 29

FUNDING PROGRAMS

bryan berkowitz

Maui Brewing Company's 

Kihei brewery “I had that typical young 

male can’t-go-wrong kind of 

attitude, but I think Melanie 

was more nervous.” Marrero 

recalls. “It was a little scary. 

But we both took it as extra 

motivation to succeed—we 

couldn’t fail our family and 

our friends.”

The couple were new to 

entrepreneurship, but they 

applied a strong work ethic 

and good business sense to 

the task. They quickly set 

up a 25-barrel brewhouse 

and, in 2007, were among 

the earliest small breweries 

to distribute in cans—a 

move that craft breweries 

have since embraced 

as both financially and 

environmentally sound. And 

having savvily gotten a right 

of first refusal on adjacent 

units, they expanded. By 

2012, they’d grown from 

5,000 to 13,000 square feet. 

“We flat-out needed more 

space,” Marrero says. 

This time, they 

approached the SBA for help. 

“The way it works is, you 

have to have the financing 

through an SBA lending 

partner—a local bank—and 

then the SBA guarantees 

part of the loan,” Marrero 

says. Maui Brewing took out 

a multimillion-dollar loan to 

buy land and build a building 

for 25- and 50-barrel 

brewhouses down the road 

in Kihei. “We would not have 

been approved for such a loan 

without the SBA.”

Maui Brewing Company’s 

six year-round beers include 

its signature Pineapple Mana 

Wheat and Coconut Hiwa 

Porter which, like many of its 

seasonal brews, use locally 

grown ingredients. “They 

always say small business is 

the backbone of America; I 

think farmers even more so,” 

Marrero says. 
30

SBA 

Guaranteed 

Loans

For small business entrepreneurs who 

cannot get traditional forms of credit, an 

SBA-guaranteed loan can fill that need.

The SBA guarantees loans made by lending 

institutions to small businesses that would 

not otherwise be able to obtain financing.

The lender works with applicants to determine the best option for the small business. 

For those who are eligible and cannot obtain 

conventional financing with reasonable rates

and terms, the guarantee reduces a lender’s 

risk of loss in the event of a default on the 

loan. The SBA guarantee is conditional on the 

lender following SBA program requirements. 

Just like with any other loan, you make your 

loan payments directly to your SBA Lender in 

accordance with your terms.

Visit your local SBA office for a 

lender referral, or use Lender Match, 

sba.gov/lendermatch.

The SBA's online tool connects 

entrepreneurs with SBA Lenders 

interested in making small business 

loans in your area.

Melanie Oxley and 

Garrett Marrero

“We brew our seasonal POG IPA with passionfruit, orange, and 

guava juice, locally grown. Integrating that into a style that dates 

back to the 1600s, an IPA, makes it unique.”

Today the operation consists of the Kihei brewery and three 

restaurants: the original location, one established on the island 

of Oahu in 2017, and one opened at the brewery in early 2018. The 

company distributes in 23 states and internationally. By yearend, Marrero expects to have a fourth restaurant, employ 700 or 

more, and top $20 million in revenue. Later ambitions include 

distilled spirits and craft cocktails in cans.

In addition to supporting Hawaii growers, Maui Brewing offers 

a share of sales to local nonprofits. It also plays an integral role in 

the Maui Brewers Festival, which draws visitors and raises money 

for the Maui Arts and Cultural Center. 

And Marrero shares his hard-won expertise with aspiring 

entrepreneurs. His advice? “Work with several local lenders, but 

definitely involve the Small Business Development Center in your 

area. They’ll help with feasibility studies, putting together a good 

loan package,” he says. “Be clear and concise with your vision, 

and don’t rely on others to sell your story—you are your best 

advocate.”

FUNDING PROGRAMS
 31

FUNDING PROGRAMS

Local Funding 

Programs

For a complete listing of our participating SBA Lenders, visit sba.gov/vt.

Top 

Participating 

SBA Lenders 

Bank of Bennington

thebankofbennington.com

Bar Harbor Bank and Trust

bhbt.com

Berkshire Bank

berkshirebank.com

Brattleboro S&L Association

brattbank.com

Citizens Bank

citizensbank.com

Community National Bank

communitynationalbank.com

Heritage Family Credit Union

hfcuvt.com

Keybank

key.com

Ledyard National Bank

ledyardbank.com

Mascoma Savings Bank

mascomabank.com

Merchants Bank

mbvt.com

NBT Bank

nbtbank.com

National Bank of Middlebury

nbmvt.com

North Country Federal Credit Union

northcountry.org

Northfield Savings Bank

nsbvt.com

Opportunities Credit Union

oppsvt.org

Passumpsic Savings Bank

passumpsicbank.com

Peoples Trust Co.

ptcvt.com

People’s United Bank

peoples.com

Td Bank

tdbank.com

Union Bank

unionbankvt.com

Vermont Economic Development 

Authority

veda.org

Vermont Federal Credit Union

vermontfederal.org

VSECU

vsecu.com

Wells River Savings Bank

wellsriversavings.com

Participating 

Certified 

Development 

Companies

Bay Colony Development Corp.

230 3rd Ave., Waltham, MA 02451

(781) 891-3594

baycolony.org

Granite State Development Corp.

Vermont statewide

3 Main St., Suite 108

Burlington, VT 05401

(802) 865-8094 

granitestatedev.com

New England Certified Development Corp.

Serving Bennington, Windham, Windsor, 

Rutland, Addison and Chittenden counties

500 Edgewater Drive, Suite 555

Wakefield, MA 01880

(207) 749-0322

bdcnewengland.com 

Vermont 504 Corp.

Vermont statewide

58 East State St., suite 5

Montpelier, VT 05602

(802) 598-4044

veda.org

Participating 

Nonprofit 

Community 

Lenders, 

Microlenders

Community Capital of Vermont

105 North Main St., suite 305

P.O. Box 342 

Barre, VT 05641

(802) 479-0167

communitycapitalvt.org

Vermont Community Loan Fund

15 State St.

P.O. Box 827

Montpelier, VT 05601

(802) 223-1448

vclf.org
32

for a few years. The program can provide access to free business 

counseling at the same time you are putting together your financing.

INTEREST RATE: prime + 6 percent

TERMS: up to 25 years for real estate, and 10 years for equipment 

and working capital

GUARANTEE: 75 to 90 percent

SBA Microlenders

Entrepreneurs can borrow from $500 to $50,000 and access free 

business counseling from SBA microlenders. If you need working 

capital or funds for supplies, equipment, fixtures and furniture, a

microloan can help eligible businesses start up and grow.

INTEREST RATE: loans less than $10,000, lender cost + 8.5 percent; 

loans $10,000 and greater, lender cost + 7.75 percent

TERMS: lender negotiated, no early payoff penalty

504 Certified Development Company 

Loan Program

If you do not qualify for traditional financing, but you would like to

purchase land or heavy equipment, or buy/renovate real estate for 

your business, ask about the 504 Certified Development Company

Loan Program. It provides competitive fixed-rate mortgage financing

through an SBA Lender and a Certified Development Company.

MAX LOAN AMOUNT (UP TO 40 PERCENT OF THE TOTAL 

PROJECT): up to $5 million; $5.5 million for manufacturing or 

energy public policy projects

INTEREST RATE: below market fixed rates for 10 or 20 year terms

TERMS: 20 years for real estate or long term equipment; 10 years for 

general machinery and equipment

GUARANTEE: the SBA Lender provides a senior loan for 50 percent of 

the project cost (with no SBA guarantee); the CDC finances up to 40

percent in a junior lien position (supported by the SBA guarantee)

SPECIAL CONDITION: a minimum borrower contribution or down 

payment is required; amounts vary by project but are usually 10 

percent

Need 

Financing?

The 7(a) Loan 

The 7(a) loan is the SBA’s largest financing program because it can

be used for almost any business purpose, and it offers reasonable

rates and terms. If you’re unable to get conventional financing and

you meet the eligibility requirements, you could use a 7(a) loan to 

purchase real estate, equipment, working capital, or inventory for 

your small business. Loan proceeds may also be used to refinance

business debt or purchase a small business.

MAX LOAN AMOUNT: $5 million

INTEREST RATE: generally prime + a reasonable rate capped at 2.75 

percent

TERMS: loan term varies according to the purpose of the loan, generally up to 25 years for real estate, 10 years for other fixed assets and

working capital

GUARANTEE: 50 to 90 percent

Caplines

Caplines meet your revolving capital needs with lines of credit. 

Caplines can be used for contract financing, seasonal lines of credit,

builders line of credit, or for general working capital lines.

SBAExpress Loan

An SBAExpress loan is a small loan delivered by experienced lenders 

who are authorized to make the credit decision for the SBA. These 

can be term loans or revolving lines of credit.

MAX LOAN AMOUNT: $350,000

INTEREST RATE: for loans less than $50,000, prime + 6.5 percent; for 

loans of $50,000 and greater, prime + 4.75 percent

TERMS: loan term varies according to the purpose of the loan, generally up to 25 years for real estate, and 10 years for other fixed assets

and working capital 

GUARANTEE: 50 percent

Community Advantage Program

Community Advantage lenders are community-based financial institutions focused on financing for women, veterans, low-income borrowers, and minority entrepreneurs just starting up or in business 

Visit your local SBA office or lender to learn about 

these SBA loan programs.

FUNDING PROGRAMS
 33

If your product has a potential for commercialization, look into the Small Business 

Innovation Research program. Many small businesses enter the nation’s research and 

development arena because of this program. The United States gains your entrepreneurial 

vision while meeting specific research and development needs.

Each year, federal agencies with large research and development budgets are required to 

allocate 3.2 percent of it to this program. You could receive funding from one of these 

11 participating federal agencies:

Interested in 

Federal Research 

& Development?

• Department of Agriculture

• Department of Commerce - National 

Institute of Standards and Technology or 

the National Oceanic and Atmospheric 

Administration

• Department of Defense

• Department of Education

• Department of Energy

• Department of Health and Human 

Services

• Department of Homeland Security

• Department of Transportation

• Environmental Protection Agency

• NASA

• National Science Foundation

The Small Business 

Technology 

Transfer Program

The Small Business Technology 

Transfer program is for entrepreneurs

interested in collaborating with one 

of these agencies for research & 

development:

• Department of Defense

• Department of Energy

• Department of Health & Human 

Services

• NASA

• National Science Foundation

If your small business is engaged in next gen research and development, you can compete 

for funding under the Small Business Innovation Research and the Small Business Technology 

Transfer programs. 

Both programs have 

three phases:

Phase I is to establish the technical merit, 

feasibility and commercial potential of the 

proposed project. Awards are often up to

$150,000 for one year.

Phase II funding is based on the results 

achieved in phase I and the

scientific, technical merit and commercial potential of the project. Awards are 

often up to $1 million for two years.

Phase III is for the small business to 

pursue commercialization. It may

involve U.S. government contracts.

Learn about these competitive awardsbased programs at sbir.gov.

ALEX WILSON

FUNDING PROGRAMS
34

Small businesses can enter and excel in the international marketplace using State Trade 

Expansion Program grants and training. To find out if your state is participating visit

sba.gov/internationaltrade. You can:

• Learn how to export

• Participate in foreign trade missions and trade shows

• Obtain services to support foreign market entry

• Translate websites to attract foreign buyers

• Design international marketing products or campaigns

Financing for International Growth

Ask your SBA Lender about the Export Express Loan for enhancing your export development.

Max loan amount: $500,000

Interest rate: negotiated between lender and business, fixed or variable rate, typically not to

exceed prime + 6.5 percent

Terms based on use of loan: for real estate, up to 25 years; for equipment, up to 10 years; for 

lines of credit, up to seven years

Guarantee: up to 90 percent

The International Trade Loan can position you to enter or expand into international markets. It can also help you better compete if your business has been adversely affected by

unfair trade practices.

Max loan amount: $5 million

Interest rate: negotiated between lender and business, fixed or variable, not to exceed prime

+ 2.75 percent

Terms based on use of loan: for real estate, up to 25 years; for equipment, up to 10 years

Guarantee: up to 90 percent

Exporters looking to meet their short-term capital needs can use the Export Working Capital 

Program.Use this loan to purchase inventory to make the products you export orto finance

receivables. You can apply forlines of credit priorto finalizing an export sale or contract.

Max loan amount: $5 million

Interest rate: negotiated between lender and business, fixed or variable rate

Terms: typically one year, cannot exceed three years

Guarantee: up to 90 percent

Benefits of 

Exporting

Nearly 96 percent of consumers 

live outside the U.S., and twothirds of the world’s purchasing 

power is in foreign countries. If 

you’re a small business owner, 

here’s how to work with the SBA 

for your trade needs.

STEP 1 GET COUNSELING

STEP 3 GET FUNDING One-Stop Exporting Shops

Find an SBA professional in one of these 21 U.S. Export Assistance Centers located 

in major metro areas, sba.gov/tools/local-assistance/eac. The centers are also 

staffed by the U.S. Department of Commerce and, in some locations, the ExportImport Bank of the United States and other public and private organizations.

Visit your local Small Business Development Center (see page 8) for free exporting 

assistance from professional business counselors.

If you need assistance with international trade regulations, the SBA can be your 

advocate in foreign markets. Call toll free (855) 722-4877 or email international@sba.

gov. Include your name, company name, mailing address, 

and phone number, as well as a brief description of the trade problem or challenge 

you are encountering.

STEP 2 FIND BUYERS

Why Export?

You want to increase revenue. Exporting would make you less 

dependent on any one market. It’s also a smart option for stabilizing 

sales if your product is seasonal. 

FUNDING PROGRAMS
 35

Investment 

Capital

If you own a U.S. small 

business, you could 

receive capital from 

a Small Business 

Investment Company

that is regulated by the 

SBA. The agency provides 

guarantees to investment 

companies with financing expertise in certain 

sectors or industries. 

These investment companies then use private 

funds, along with SBAguaranteed capital, to 

invest in qualifying small 

businesses. The small 

business then receives a 

loan, equity, or a combination of both. Equity is 

a share of ownership an 

investment company gets 

in a business.

Mature, profitable businesses with sufficient cash

flow to pay interest are

more likely to receive capital from a Small Business 

Investment Company. 

Each one has its own 

investment profile in terms

of targeted industry, geography, company maturity, 

the types and size of 

financing they provide. To

search the SBIC directory, 

visit Investment Capital 

under Funding Programs 

at sba.gov.

Looking for investors? Consider a Small Business Investment Company.

FUNDING PROGRAMS
36

What is the American 

dream? To many, it is the 

ideal that every United 

States citizen has an 

equal opportunity to achieve success 

and prosperity through hard work, 

determination, and initiative. Ember 

Industries, Inc., a family-owned company 

in San Marcos, Texas, exemplifies that 

national ethos. Established in 1986 as 

a small contract design firm, Ember 

Industries has grown into a full-service 

contract manufacturing business that 

builds, tests, and calibrates electronic 

devices and wire and cable assemblies. 

The company’s products are used to build 

things like above-ground tank monitors 

for oil fields and Lockheed military 

drones. In 2015, the company was on 

track to have one of its most profitable 

years, and then disaster struck.

 “Things were going great. Honestly, 

the factory was going wonderfully. In 

June we were on pace for a record month, 

but instead the Blanco River decided to 

come over its banks,” says President Rob 

Leonardis.

In May 2015, the Blanco River flooded 

disastrously, overflowing its banks 

to record levels and destroying more 

than 1,000 homes. Ember Industries 

suffered catastrophic damages. “We 

had 32 inches of water in the entire 

building. Basically, it ruined all of our 

manufacturing equipment,” says Vice 

President of Finance and Administration 

Frank Leonardis. “It shut us down. It was 

pretty devastating.” 

The flood destroyed about one-third 

of Ember’s raw-material inventory and 

all of the work in progress as well as 

office furniture, computers and servers, 

and all of the company’s high-tech 

production equipment. “A week into it, 

our dad came to us and asked, should we 

be trying to do this? Should we even be 

trying to rebuild this?” Rob Leonardis 

recalls. But instead of shutting the 

doors, the company was approved for a 

$2 million SBA disaster loan, and just six 

weeks after the flood, Ember Industries 

was back to full production. 

In 2017, Ember Industries received the 

SBA Phoenix Award for Outstanding Small 

Business Disaster Recovery. “Without the 

SBA loan, we would not have been able to 

survive as a company,” Rob Leonardis says. 

“The Office of Disaster Assistance at 

the SBA looks at businesses that have 

suffered through a disaster, recovered, 

and put their employees back to work. 

And Rob’s story about how SBA’s disaster 

loan helped the business recover is one 

of preserving the American dream,” 

explains Bill Koontz, public information 

officer for the Disaster Field Operations 

Center–West.

After the flood, Ember continued to 

Rising Tide

Brothers Frank, Greg, 

and Rob Leonardis 

rebuilt their company 

with an SBA loan after 

a devastating flood.

Ember Industries receives SBA’s 2017 Phoenix Award for its recovery 

after a disaster.

written by Nikki Bowman

FUNDING PROGRAMS DISASTER ASSISTANCE
 37

The SBA, the Federal Emergency Management Agency and other 

organizations work together to provide assistance to those affected by 

a disaster. Once immediate safety and security needs are met, the SBA 

helps get you and your community back to where you were before the 

disaster. The SBA provides loans to businesses of all sizes, nonprofits, 

homeowners and renters to cover rebuilding costs not covered by 

insurance or other forms of assistance.

Small businesses and nonprofits are also eligible to apply for economic 

injury losses, even if they suffered no physical damages. These direct loans 

come with low-interest rates and long terms. Property owners can also 

secure additional SBA funds to help protect their business or home against 

a disaster. Visit sba.gov/disaster.

pay all its employees even though they were not able to resume operation 

immediately. “It is remarkable that Ember Industries has come back. It is 

remarkable they’ve been as successful in the wake of this as they have been,” 

says Koontz. “They haven't just rebuilt, they’ve grown bigger and better.” 

“I honestly believe we couldn’t have been able to rebuild without the 

SBA loan,” Rob Leonardis says. “It allowed us to continue to live the 

American dream.”

The President & the 

SBA Administrator 

Can Declare a Disaster

Contact the SBA directly to apply for a disaster 

loan. Businesses of all sizes, nonprofits, homeowners and renters are eligible to apply:

• Online at https://disasterloan.sba.gov/ela/

• Visit a federal/state Disaster Recovery Center 

in your area

• Call our customer service center at 

(800) 659-2955 (TTY: 800-877-8339) and 

ask for an application package to be 

mailed to you 

FEMA grant assistance for homeowners or renters 

is not available under an SBA declaration.

Information needed to get started:

• Address of damaged residence or business and 

contact info

• Insurance information, including type of insurance, policy numbers, amount received

• Household and/or business income

• Routing and bank account numbers

• Description of disaster-caused damage 

and losses

Who to contact after a 

disaster is declared by 

the President

Register with FEMA at disasterassistance.gov, or 

call (800) 621-3362 (TTY: 800-462- 7585), or visit a 

Disaster Recovery Center. Locations can be found 

at fema.gov/drc.

Businesses are automatically referred to 

the SBA. Most homeowners and renters will be 

referred by FEMA to the SBA to apply for disaster 

loan assistance. You must complete the SBA 

application to be considered for assistance. If the 

agency cannot help you with a loan for all your 

needs, the SBA will, in most cases, refer you back 

to FEMA.

Who to contact after a 

disaster is declared by 

the SBA

DISASTER ASSISTANCE FUNDING PROGRAMS
38

Keep in mind

An SBA disaster loan is a 

direct loan from the government. Other organizations may reduce or not 

award you a grant if you 

have received an SBA loan 

or other assistance. Be sure 

to check with other organizations to see how an 

SBA loan might affect your

eligibility for their program.

In general, recovery 

expenses covered by 

insurance, FEMA or other 

forms of assistance may 

reduce the amount provided by your SBA disaster loan.

Verification & Processing

An SBA loss verifier will estimate the total loss to your property damaged by

the disaster.

A loan officer determines your creditworthiness and eligibility after reviewing

any insurance or other recovery funds. The SBA can approve and disburse a loan 

while your insurance recovery is pending. You will be advised in writing of all loan 

decisions.

Terms may go up to 30 years. The SBA sets terms based on each borrower’s 

ability to repay, no early payoff fees or penalties.

Rates are low, based on the type of loan and if you have credit available 

elsewhere.

For Physical Damages

A business of any size and any nonprofit may borrow up to $2 million to repair or

replace damaged or destroyed real estate, machinery and equipment, inventory, 

and other business assets.

A homeowner may borrow up to $200,000 to repair/replace primary residence 

damage.

A homeowner or renter may borrow up to $40,000 to repair/replace damage 

to personal property, including vehicle losses.

For Economic Injury

The SBA also offers Economic Injury Disaster Loans for up to $2 million to help

meet working capital needs caused by a disaster.

Who are eligible: small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most nonprofits.

Economic injury assistance is available regardless of whether the business suffered any property damage.

Closing & Funds Disbursement

Approval decision and disbursement of loan funds is dependent on receipt of 

your documentation.

Be sure to sign your closing documents. This can be done by mail or with an 

SBA representative at a closing center if one is open in your area.

The SBA disburses loan funds as recovery work is completed, items are replaced, 

and/or as funds are needed. The SBA will typically make an initial disbursement of up 

to $25,000, if all requirements are met, within five days of receiving your signed loan

closing documents. Your case manager will schedule subsequent disbursements 

of the full loan amount. Your case manager will work with you to help you meet all 

loan conditions. Your loan may be adjusted after closing according to your changing

circumstances, such as unexpected repair costs or additional insurance proceeds.

How an SBA 

Disaster Loan Works

The SBA provides loans to businesses of all sizes, nonprofits, homeowners and renters 

to cover rebuilding costs not covered by insurance or other forms of assistance.

FUNDING PROGRAMS
 39

How to Prepare 

Your Business 

for an Emergency

The financial cost of rebuilding a business after a disaster can be overwhelming.

However, with a business continuity plan in place, you will be able to rebound 

and reopen quickly. You’ll be in a better position to contribute to the economic 

recovery of your community. First steps include:

Establish a protocol to communicate with employees outside of the office to

ensure they and their families are safe. Test the procedures regularly.

Keep your plan and all related documents in a digital format or in an accessible, protected, off-site location.

Review your insurance coverage

• Contact your insurance agent to find out if your coverage is right for your business; make sure you understand the policy limits and deductibles.

• Ask about business interruption insurance, which compensates you for lost 

income and covers operating expenses if your company has to temporarily 

shut down after a disaster.

Establish a solid supply chain 

If your vital vendors and suppliers are local and the disaster is widespread, you 

will all be in the same situation—struggling to recover. 

• Set yourself up to be able to get key supplies from companies outside your 

area, if possible.

• Create a contact list for important contractors and vendors you plan to use in 

an emergency

• Make sure you know your suppliers’ recovery plans.

Plan for an alternate location

• Do some research in advance of the disaster for several alternative places to 

relocate your company in case a disaster forces you to close your business for 

an extended time. 

• Contact a local real estate agent to get a list of available office space. You

could make an agreement with a neighboring business to share office space.

You could also make plans for employees to telecommute until your office

reopens.

The Ready Business program, 

ready.gov/business, gives 

step-by-step guidance on how 

to prepare your business for 

a disaster. The series includes 

preparedness toolkits for 

earthquakes, hurricanes, 

inland flooding, power 

outages, and severe winds/

tornadoes. Spanish materials 

are available.

FUNDING PROGRAMS
40

Surety Bonds

Surety bonds help small 

businesses win construction, 

supply and service contracts 

by providing the customer with 

a guarantee the work will be 

completed. Many contracts 

require surety bonds, which are 

offered by surety companies.

The SBA guarantee provides an 

incentive for surety companies 

to work with small businesses 

that would normally not be 

able to obtain the bond. Eligible 

small businesses can receive 

the bonding assistance necessary to compete for contracting 

and subcontracting jobs using 

the Surety Bond Guarantee 

Program. This program is aimed 

at small businesses that lack the 

financial resources or performance track record necessary to 

secure bonding through regular 

commercial channels.

Small businesses that often 

come to the SBA for surety 

bonds:

• Startups and firms in business less than three years

• Businesses with credit issues

or internally prepared financial

statements

• Subcontract trades with a 

desire to establish their own 

bonding as a prime contractor

• Those wishing to increase

their current bonding limits

Surety bonds help small businesses win construction, supply, and service contracts.

FUNDING PROGRAMS
 41

For Public and Private Prime 

Contracts and all Subcontracts

For Federal Contracts

The SBA guarantees: bid, payment, performance, and 

ancillary bonds issued by surety companies

Cost of contract: up to $6.5 million

SBA reimburses surety companies in case of default 

90 percent of losses sustained for veteran and service-disabled veteran, minority, 8(a), and HUBZonecertified small businesses; all projects up to $100,000

80 percent for all other small businesses.

The SBA guarantees: bid, payment, performance, 

and ancillary bonds issued by surety companies—

if a guarantee would be in the best interest of the 

government

Cost of contract: up to $10 million

SBA reimburses surety companies in case of default 

90 percent of losses sustained for veteran and service-disabled veteran, minority, 8(a), and HUBZonecertified small businesses; all projects up to $100,000

80 percent for all other small businesses.

Typically, small businesses provide financial statements and other documentation when

applying for surety bond guarantees. This process is streamlined under the SBA’s QuickApp 

program, which is for contracts below $400,000. The streamlined application reduces the normal paperwork to a simple two-page application, and the small business does not need to file

any financials with the SBA.

The SBA partners with 31 surety companies and hundreds of bonding agents. Online applications submitted through SBA authorized agents are approved in less than two days for regular 

applications and within hours for QuickApps. Find authorized agents at sba.gov/osg.

SBA’s QuickApp Program

Questions? 

Do you want to discuss the advantages of the SBA’s Surety Bond Guarantee Program 

or need to locate an SBA authorized agent? Contact a bonding specialist:

Tamara E. Murray

Denver, Colo.

(303) 927-3479

Linda M. Laws

Seattle, Wash.

(206) 553-7317

Jennifer C. Bledsoe

Washington, DC

(202) 205-6153

FUNDING PROGRAMS
42

My Next 

Career Path

Renee Boyce, president and 

CEO of My Next Career 

Path Staffing, LLC, knows 

firsthand the challenges of 

small business ownership. 

“Some of the biggest challenges are 

getting capital and financing to allow 

us to grow,” he says. “Sometimes it is 

hard to get a seat at the table. As a small 

business, we just need a fair opportunity 

CONTRACTING

Doing Business with the Government

to bid on contracts.”

Founded in 2014 in Las Vegas, Nevada, 

My Next Career Path Staffing (MNCP 

Staffing) is a consulting and staffing 

firm that provides resources to private 

businesses, public sector firms, and 

local, state, and federal government 

agencies nationwide. The company offers 

temporary and permanent recruitment 

or recruitment by project in the fields of 

information technology; engineering; 

medical, clinical, and professional 

services; and sales and marketing, 

and it is known for its IT solutions. The 

company is a certified 8(a), Minority 

Business Enterprise, Disadvantaged 

Business Enterprise (DBE), and Emerging 

Small Business in Nevada as well as a 

certified DBE in Arizona, California, 

Maryland, Oregon, Texas, and Utah.

“My Next Career Path saves 

companies time and money,” Boyce says. 

“Companies often receive hundreds of 

resumes in response to job ads, and it's 

time-consuming to go through them. 

Reviewing resumes to locate the best 

candidates is another full-time job. 

We save time by honing in on the best 

matches for the firm.”

All business owners know that 

making a bad hire is expensive. Not only 

do you spend time and money training 

someone who isn't a fit for the job, but 

then you have to start another candidate 

search, My Next Career Path prides itself 

in locating the candidates who are a 

great match from the start. 

In 2017, Boyce was chosen as the 

SBA Nevada District Office Minorityowned Business of the Year. “The SBA 

has helped me grow my business by 

being a useful resource and providing 

guidance on working in the federal 

space,” says Boyce. My Next Career 

Path became a government contractor in 

2016 and now reports more than 

60 percent of the company's business 

is in the federal arena. 

The SBA is a resource for small 

businesses that are interested in working 

with the government. Boyce says, “It 

takes time and patience to work in the 

federal space. It’s certainly not for every 

business. But by establishing and 

written by Nikki Bowman

This small business has made it their business to provide quality 

staffing in the federal arena. 
 43
44

1. Identify your product or service number at naics.com.

2. Search the FedBizOpps database (fbo.gov) or web.sba.gov/

subnet to see if any federal agencies are looking for your product or service.

3. Attend an SBA district office workshop on contracting. Visit

sba.gov/localassistance, or see pages 16-19, to find your local

office.

4. Talk to a local Small Business Development Center counselor 

(page 8) or visit a Procurement Technical Assistance Program 

adviser for free counseling. Find your closest center at 

aptac-us.org.

5. Obtain a free DUNS number at https://fedgov.dnb.com/

webform.

6. See if you’re eligible for a contracting program and start 

the certification process. All required documents must be

uploaded to certify.sba.gov before submitting an offer on a

contract set aside for a specific program.

7. Register with the System for Award Management 

(sam.gov) to start doing business with the government.

How to 

do business 

with the 

government

The SBA has 

helped me 

grow my 

business 

by being 

a useful 

resource and 

providing 

guidance on 

working in 

the federal 

space.”

Renee Boyce, 

MNCP Staffing president and CEO

building relationships and teaming with 

partners, we’ve learned how to navigate 

the federal arena.” 

Running a small business can be 

challenging but it is also very rewarding. 

Boyce advises other small businesses to 

use the resources available like PTAC, 

SBA, and local business chambers. “It 

is important to build a strong network 

of relationships,” he points out. “Do not 

rule out opportunities to subcontract. It 

will allow you to understand the process 

and gain experience.”

Boyce has big plans for the future. 

“My goal is to continue to grow and 

expand the company globally with even 

more locations nationwide, while still 

delivering value-added services to the 

government and private businesses.”

CONTRACTING
 45

SBA Contracting 

Programs

Your business could earn profit and gain valuable work experience 

by providing goods or services to the government.

The federal government sets aside contracts 

for small business, and these contracting 

programs are designed to help you compete 

for and win federal contracts. Visit SBA.gov/

contracting to learn more about set-asides 

and whether one or more of these government contracting programs is right for your 

business.

All Small Mentor-Protege 

Program 

Looking for an opportunity to partner with 

a more experienced firm for mentorship?

You may find that effort rewarded in the

All Small Mentor-Protege Program, sba.

gov/allsmallmpp. At the same time you’re 

gaining invaluable direction and experience, 

you and your mentor can compete for 

government contracts, further growing your 

business.

To qualify for this program:

• Proteges must have a mentor prior to 

applying for the program. Visit your 

local SBA office for guidance. Ask about

the SBA’s Resource Partners and the 

Procurement Technical Assistance 

Program for help in connecting you with a 

mentor business.

• You must be certified as a small business

within your NAICS industry classification

and have experience in that field.

• Mentors and proteges must be organized 

for profit or as an agricultural cooperative.

• Mentors cannot own more than 40 percent 

equity in the protege’s business.

• An SBA determination of affiliation must

not exist between the mentor and the 

protege. All Small-approved partnerships 

receive an exclusion of affiliation for contracting purposes.

8(a) Business Development 

Program

If you’re an entrepreneur who is socially and 

economically disadvantaged, you could get 

business training and government contracting assistance through the 8(a) Business 

Development Program, sba.gov/8a. The 

program includes free business development education, training workshops, and 

match-making opportunities with federal 

buyers. Firms owned by Alaska Native 

Corporations, American Indian tribes, Native 

Hawaiian organizations, and Community 

Development Corporations are also eligible 

for 8(a) business development assistance. 

To be eligible for the 8(a) program, your 

small business must meet the following 

criteria:

• Qualify as a small business which is unconditionally owned and controlled by one or 

more socially and economically 

disadvantaged people of good character

Glenn Davis, an 8(a) program graduate, 

operates BranCore, a consulting 

business, out of Richmond, Virginia.

CONTRACTING
46

• Be controlled by a U.S. citizen who lives in 

the United States

• Demonstrate current capacity and potential for success

Socially disadvantaged: those who have 

been subjected to racial or ethnic prejudice or cultural bias without regard to their 

individual qualities because of their identity 

as members of certain groups. The following 

groups of people are assumed to be socially 

disadvantaged: Black Americans, Native 

Americans, Alaska Natives, Native Hawaiians, 

Hispanic Americans, Asian Pacific Americans,

and Subcontinent Asian Americans. A person 

who is not a member of one of these groups 

must establish that it is more likely than not 

thatthey have suffered disadvantage.

Economically disadvantaged:

those whose ability to compete in the 

marketplace has been impaired because 

the person has not had as much capital and 

credit opportunities compared to others in 

the same or similar line of business who are 

not socially disadvantaged. 

The benefits:

• 8(a) businesses are assigned an SBA professional to help coordinate your business 

development assistance.

• You could be awarded an 8(a) sole-source 

contract up to $4 million for goods and 

services; $7 million for manufacturing, 

exceptions apply.

What is an 8(a) sole-source contract?

A direct awarding of a contract to an 8(a) 

small business that can provide the needed 

services.

HUBZone 

Businesses located in Historically 

Underutilized Business Zones, also called 

HUBZones, sba.gov/hubzone, must be 

certified to gain special access to federal

contracts. To qualify for the program, 

a small business must:

• Be at least 51 percent owned and controlled by a U.S. citizen(s), a Community 

Development Corporation, an agricultural 

cooperative, or an Indian tribe.

• Be located within a HUBZone, which 

includes Indian reservations and military 

facilities closed by the Base Realignment 

and Closure Act. Enter your address in our 

interactive map to see if your business 

is located in a HUBZone, https://maps.

certify.sba.gov/hubzone/map.

• Have at least 35 percent of your employees 

residing in a HUBZone.

For Service-Disabled 

Veterans:

If you’re a service-disabled veteran looking 

to enter the federal marketplace, you may be 

eligible for this small business certification.

CONTRACTING

• To determine your eligibility, contact a 

veterans’ business development officer

at your local SBA office, or the SBA’s

Office of Veterans Business Development

at sba.gov/ovbd. 

• After you have set up to do business with

the government in sam.gov, update 

your status as a service-disabled veteran 

business.

Keep in mind

The SBA does not officially certify this

designation, so when a contract awarded 

based on this eligibility is protested, the 

SBA will determine if your business meets 

the eligibility status, ownership and control 

requirements.

Hops and Scotch owners 

David Ng and Darren Tow 

grew their business in 

Brookline, Massachusetts 

with the help of an SBAguaranteed loan.
 47

Women-Owned Small Business 

Certification

If you're a woman proprietor looking to sell to the federal 

government, you may be eligible for the Women-Owned Small 

Business certification, sba.gov/wosb. 

Here’s how to get certified:

• Your business must be at least 51 percent owned and controlled by one or more 

women who are U.S. citizens. The ownership must be direct and unconditional.

• A woman must hold the highest officer position and have managerial experience

required to run the business.

• One or more women must manage the daily business operations on a full-time 

basis and conduct long-term decision making and planning.

To qualify as an economically disadvantaged woman-owned small business, your 

company must meet these criteria and the business owner and/or manager must 

meet certain income and asset requirements.

• Register with the System for Award Management (sam.gov) to start doing business with the government.

• Update your status as a woman-owned small business in sam.gov.

• Search the FedBizOpps database (fbo.gov) for your new business opportunity.

Self-certify as a woman-owned small business or an economically disadvantaged 

woman-owned small business for free, or obtain certification from one of the SBA’s

approved third-party certifiers (which costs a fee):

• El Paso Hispanic Chamber of Commerce

• National Women Business Owners Corporation

• U.S. Women’s Chamber of Commerce

• Women’s Business Enterprise National Council

All required documents must be uploaded to certify.sba.gov prior to submitting 

an offer on a contract set aside for the program.

1. Make sure you’re eligible

2. Register

4. Update your status

5. Search the database

3. Certify

CONTRACTING

Procurement Technical 

Assistance Centers

Businesses that want to sell products or 

services to federal, state, or local governments receive one-on-one counseling 

and training at Procurement Technical 

Assistance Centers, free or low cost.

How can a procurement assistance 

center help you?

» A center adviser can help you 

determine if your business is ready 

for government contracting.

» An adviser can help you register in 

the System for Award Management 

(sam.gov).

» Your adviser will help you see if you 

are eligible for any small business 

certifications and programs.

PTAC Locations

The Vermont Procurement Technical 

Assistance Center provides businesses with 

an understanding of the requirements of 

government contracting/subcontracting 

and the know-how to obtain and successfully perform federal, state, and local 

contracts.

Director Joanne Spaulding

Serving Orange, Washington and Lamoille 

counties

(802) 522-9135

joanne.spaulding@vermont.gov 

Procurement Counselor Edward 

Williams

Serving Windsor and Windham counties

(802) 885-3061

ed.williams@vermont.gov

Procurement Counselor Babette 

Lizotte

Chittenden, Grand Isle and Franklin 

counties

(802) 652-2134

babette.lizotte@vermont.gov

VT PTAC Advisor Brenda Plastridge

Essex, Orleans and Caledonia counties

(802) 334-9377

bplastridge@vtsbdc.org

Procurement Counselor Elizabeth 

Adams

Serving Rutland and Bennington counties

(802) 272-1587

elizabeth.adams@vermont.gov
48

CONTRACTING

Despite recent budget cuts, the U.S. 

federal marketplace remains a lucrative 

opportunity for small businesses. The 

federal government typically spends 

approximately $500 billion in contracts 

every year and the law requires that 23 

percent of these dollars be awarded to 

small businesses.

But doing business with the largest 

purchaser of goods and services in the 

world isn’t easy. One of the biggest 

challenges that small businesses face 

is uncovering the right opportunities— 

ones that match their capabilities and 

growth plans.

Here are eight tips and resources 

to help you find government contract

opportunities that make sense for your 

small business.

1Familiarize yourself with the 

rules. Before a contract opportunity comes along that excites 

you, be prepared. Familiarize yourself 

with what’s involved with selling to the 

federal government. It’s quite different

to the private sector with much longer 

lead times and strict bidding and product requirements.

2Understand what the government is 

buying. Now it’s time to get strategic. 

Every agency and department has 

unique goals. Identifying these can help you 

target a niche or opportunity for your products or services.

The good news is that the government 

offers potential contractors something that

no other sector does—an insight into its 

budgetary priorities.

What the government intends to buy 

and how much it has to spend is all in the 

public domain. These budgets (actually 

they read more like mission strategy papers 

Small businesses can benefit from government contracting opportunities.

8 Tips for Finding 

Government Contracting 

Opportunities

than budgets) offer sufficient context for

savvy small businesses to identify opportunities and focus their contracting sales and 

marketing strategy. Each federal agency or 

department budget is listed on the Office of

Management and Budget (OMB) website.

3Zero in on agencies that aren’t 

meeting their small business goals. 

Each year the SBA negotiates formal 

goals with individual agencies to ensure that 

small businesses get their fair share of federal 

contracts. For several consecutive years, 

many agencies have fallen short of their targets. So who made the grade and who didn’t? 

The Federal Procurement Data System posts 

scorecards for each agency.

Government contracting has 

led to new opportunities for 

Michael Mills, principal of 

Mills Group in Morgantown, 

West Virginia.

Could there be an opportunity here for 

your small business to lend its services and 

goods to help these agencies hit their targets 

next year?

4Research existing and upcoming 

opportunities. Once you’ve identified

agency initiatives that align with what 

your business has to offer, starttracking contract opportunities and solicitations that align 

with these on sites such as USAspending.

gov and FedBizOpps.gov. Market intelligence 

firms likeONVIA orImmixGroup can also do

the work for you (ImmixGroup also has a useful blog that highlights upcoming opportunities as well as contracting tips).
 49

5 Put boots on the ground. Make a point of attending agencyor industry-specific government events. These are hosted bythe private sector but attract the procurement community, 

influencers and industry experts. Useful sites to explore for upcoming

events include GovWin, GovEvents, and if you’re interested in the 

lucrative IT government market Digital Government Institute, ACT-IAC 

and GovMark Council are worth checking out. 6Find a partner and advocate in the OSDBU. Another excel

-

lent way of getting in front of government buyers is to take 

advantage of the Office of Small and Disadvantaged Business

Utilization (OSDBU) outreach events 

and expos. These serve to connect business owners to government 

buyers. You can view the upcoming event calendar here.

These events also offer guidance on how small businesses

can break into the contracting market and take advantage 

of programs like the 8(a) Business Development Program—

a business development tool, which helps thousands of 

aspiring entrepreneurs gaina foothold in contracting with financial

assistance and teaming opportunities. 7Get help from SBA procurement reps. Another vital government 

resource are SBA’s local Procurement Center Representatives 

(PCRs). PCRs provide services that include training, counseling 

and business matchmaking events. Find the PCR in your area. 8 Don’t go it alone – partner with a government mentor.

Anyone embarking on new ventures can benefit froma men-

tor. The SBA operates a notable mentor-protege program that 

can help you get access to contracts. The All Small Mentor-Protege 

Program (page 45) rewards protege small businesses and experienced 

mentor firms with government contracting opportunities. The pro-

gram’s objective is to motivate larger companies to lend their knowl-

edge to smaller, less experienced businesses so they can together 

compete for government contracts.

written by Caron Beesley, contributor

Additional Resources

For more tips and insights on breaking into and 

growing your business in the government con-

tracting marketplace, check out these resources: • SBA Contracting Guide: A deep dive into getting started, 

available resources and more. 

sba.gov/contracting

• Contracting Blogs: Learn about the latest resources and 

programs, and get tips on how to succeed. sba.gov/blogs/

contracting

• SBA Government Contracting Classroom: Self-paced 

online courses on all aspects of the contracting process. 

sba.gov/contracting/resources-small-businesses/

government-contracting-classroom
50

To further the mission of helping small 

businesses succeed, the SBA has regional 

offices across the country. Here are some 

fun facts about each region from sba.gov

Reasons to Love 

Your Region

Region 1 (Connecticut, 

Massachusetts, Maine, New Hampshire, 

Rhode Island, Vermont) New Hampshire 

was home to the first ski club in the

United States. As of 2014, Region 1 had 

the highest number of small business 

skiing facilities per square mile in the 

country, and all six region 1 states had 

skiing facilities.

Region 2 (New York, New Jersey, 

Puerto Rico, Virgin Islands) Small businesses are of key importance to Puerto 

Rico’s economy. Four out of five Puerto 

Rican workers are employed at small 

businesses, as compared to 48% for the 

United States as a whole.

Region 3 (District of Columbia, 

Delaware, Maryland, Pennsylvania, 

Virginia, West Virginia) Washington D.C., 

Maryland and Virginia are some of the 

best states for women-owned businesses. 

Washington, D.C., and Maryland rank 

1 and 3 respectively for the number of 

businesses owned by women. These two 

states and the district are in the top 10 for 

the amount of sales and employment from 

women-owned businesses.

Region 4 (Alabama, Florida, Georgia, 

Kentucky, Mississippi, North Carolina, South 

Carolina, Tennessee) Region 4 is a center 

of minority-owned businesses. 23% of all 

minority-owned businesses are located in 

region 4, making it the second in the nation. 

This includes over 35% of all African Americanowned businesses, the highest compared to 

any other region.

Region 5 (Illinois, Indiana, Michigan, 

Minnesota, Ohio, Wisconsin) Region 5 has 

an active veteran business community. It 

ranks second in terms of the number of 

veteran-owned businesses, with Ohio and 

Illinois in the top 10 states.

Region 6 (Arkansas, Louisiana, New 

Mexico, Oklahoma, Texas) Region 6 leads 

the nation in long-term GDP growth

(2009–2016) with 22% over the seven-year 

period. Texas and Oklahoma experienced 

the largest growth in the region with 28% 

and 22% respectively.

Region 7 (Iowa, Kansas, Missouri, 

Nebraska) Region 7 has a booming small 

health care industry. The region has the 

most hospitals, general health care, and 

social assistance small businesses per 

capita than any other region.

Region 8 (Colorado, Montana, North 

Dakota, South Dakota, Utah, Wyoming)

Region 8 is a great place for crafty entrepreneurs.

Montana ranks first in the nation in the number of small breweries per capita; Colorado is 

third, and the region as a whole ranks second.

Region 9 (Arizona, California, Hawaii, 

Nevada, Guam) Region 9 is a diversity hub. Its 1.9 

million minority-owned businesses amount 

to 24% of all U.S. minority owned businesses, 

placing it first in the United States in this category. Hawaii tops the country in diversity: 64% of 

Hawaiian businesses are minority-owned.

Region 10 (Alaska, Idaho, Oregon, 

Washington) Region 10 leads the country in 

coastline, fishing, and seafood exports. The 

region’s maritime endowment is led by Alaska, 

whose 6,640-mile-long coast is longer than 

those of the other 49 states combined. The 

region has the most small fishing operations

of any region, and three of its ports—Portland, 

Seattle, and Anchorage—account for 67% 

of America’s fish exports.

LOVE YOUR REGION
 51
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