1

SUCCESS STORIES

FROM ACROSS THE COUNTRY

NORTH CAROLINA EDITION 2019

PROGRAMS FOR VETERANS

funding, training, and federal 

contracting opportunities

PREPARE YOUR 

BUSINESS FOR 

EMERGENCIES

R&D OPPORTUNITIES 

FOR NEXT GEN 

ENTREPRENEURS

Small Business 

RESOURCE GUIDE
2
 3

CONTENTS

Funding 

Programs 

28 National Success Story

An SBA loan guarantee helps 

 Hawaii entrepreneurs hop 

 up their brewing operation.

31 Local Funding Programs

34 Need Financing?

35 Why Export?

36 Investment Capital

37 Federal Research 

 & Development

38 National Success Story

Ember Industries receives 

 SBA’s 2017 Phoenix Award 

 For Outstanding Disaster 

	 	 Recovery Efforts.

40 SBA Disaster Loans

41 How to Prepare Your 

 Business for an 

 Emergency

42 Surety Bonds

Contracting 

44 National Success Story

 This small business has made 

 it their business to provide quality 

	 	 staffing in the federal arena.

47 SBA Contracting Programs

48 Woman-Owned Small 

	 	 Business certification

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

18 10 Tips to Help You Build 

 and Grow Your Brand

20 Write Your Business Plan

23 Programs for Veterans

24 Programs for 

 Entrepreneurs

25 Programs for Native 

 Americans

 ON THE COVER Clockwise from top: Downtown Brevard, courtesy of Visit VisitNC.com; 

Hunter Cattle, Brooklet, Georgia, courtesy of the SBA; Uptown Charlotte, courtesy of 

VisitNC.com; Hometown Trolley, Wisconsin, courtesy of Hometown Trolley; 21 Short 

Stop, Georgia, courtesy of the SBA; courtesy of the SBA

North Carolina Edition 2019
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

Small 

businesses

power our 

economy.

The SBA

powers

small

 businesses.

Whether you dream of transforming your 

business idea into a thriving company, growing 

your customer base, or expanding into new 

markets or locations, the SBA is here for you. 

We offer programs, expertise, and access to 

capital that will empower you to take your 

small business to the next level of success.

Stop by your local SBA office or visit SBA.gov

to learn how you can move your business 

forward with confidence.
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

Hayley Richard, hayleyy@newsouthmediainc.com

OPERATIONS MANAGER

Holly Thubron, holly@newsouthmediainc.com

ADVERTISING SALES DIRECTOR 

Heather Mills, heather@newsouthmediainc.com

ADVERTISING SALES 

Sandy Burky, Kelley McGinnis, Bryson Taylor

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

The SBA North Carolina Small Business Resource Guide is a valuable resource 

that connects you to mentors, lenders, and organizations that are invested 

in your success. Whether you are taking the first step in starting a business or

expanding to the next level, our SBA team and resource partner network will work 

with you. Our SBA-funded partners are Small Business Technology Development 

Centers, Women’s Business Centers, the Veterans Business Outreach Center, and 

SCORE chapters. They all provide free or low-cost counseling and technical assistance. 

We encourage you to meet with our SBA-funded partners to evaluate your financing

options, review a proposed business acquisition, or help with a fixed asset purchase.

Working with the SBA, small business owners are empowered to secure financing to

develop business know-how.

As the nation’s largest single financial backer of small businesses, SBAguaranteed loans are made by SBA lending specialists located in many banks and 

certified development companies. If you need financing, ask your local bank about

SBA-guaranteed loans. See our list of SBA Lenders in this guide, and also check out 

the SBA’s Lender Match tool at sba.gov/lendermatch.

This guide also provides information on how government contracting could 

add value to your business. Learn how to best sell your product or service to the 

federal government. The SBA 8(a) Business Development Program creates an 

opportunity for socially and economically disadvantaged small business owners 

to learn about the procurement process. You will also find information on SBA’s

HubZone Program.

The SBA also plays a major role in the government’s disaster relief efforts. SBA

low-interest disaster recovery loans to homeowners, renters, and small businesses are key to a rebuilding effort. This resource guide provides further information on how to prepare for a disaster and how to apply for disaster assistance.

The SBA makes the American dream of business ownership a reality. 

Entrepreneurs with creative, resilient, and innovative spirits are leading North 

Carolina’s vital economy. Visit sba.gov/nc and follow us on Twitter @SBA_NC to 

stay up to date on small business events in your area.

The SBA is your partner in starting up, growing, and expanding your small business in North Carolina.

Sincerely,

Lynn Douthett

District Director

District Director

Lynn L. Douthett

(704) 344-6579

lynn.douthett@sba.gov

Deputy District Director

Mike Arriola

(704) 344-6578

michael.arriola@sba.gov

Lead Business Opportunity Specialist

Aregnaz Mooradian

(704) 344-6396

aregnaz.mooradian@sba.gov

Business Opportunity Specialist

Joe Ann Shaeffers

(704) 344-6577

joeann.shaeffers@sba.gov

Lead Lender Relations Specialist

Karen Hoskins

(704) 344-6381

karen.hoskins@sba.gov

Lead Economic Development Specialist

Eileen Joyce

(704) 344-6787

eileen.joyce@sba.gov

Economic Development Specialist 

& Public Affairs Specialist

Levi Kinnard

(704) 344-6585

timothy.kinnard@sba.gov

Program Support Assistant

Erin Connell

(704) 344-6590

erin.connell@sba.gov

Senior Area Managers

Raleigh

Patrick Rodriguez

(919) 532-5525

patrick.rodriguez@sba.gov

Wilmington 

Don Spry

(910) 398-0746

don.spry@sba.gov

District Director’s Message

SBA North Carolina District Office

6302 Fairview Road, suite 300

Charlotte, NC 28210

(704) 344-6585

sba.gov/nc

Raleigh Office

Wake Tech Community College

A-B Tech Enka Site

1465 Sand Hill Road, suite 2008

Chandler, NC 28715

(919) 532-5525

Wilmington Office

502 N. Front Street, suite 530

Wilmington, NC 28401

(910) 398-0746
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

The SBA’s Resource Partners are independent organizations, funded through SBA cooperative 

agreements or grants, extending our reach to small business owners and entrepreneurs.

SCORE

To schedule an appointment to start working on your business 

goals, contact your closest SCORE office.

Asheville Chapter #0137

151 Patton Ave., room 259

(828) 271-4786

asheville.score.org

Cape Fear Chapter #0283

4010 Oleander Drive, suite 6

Wilmington

(910) 452-5395

capefear.score.org

Chapel Hill Durham Chapter #0495

104 S. Estes Drive

Chapel Hill

(919) 240-7765

chapelhilldurham.score.org

Charlotte Chapter #0047

6302 Fairview Road, suite 300

(704) 344-6576

charlotte.score.org

Coastal Carolina Chapter #0660

3615 Arendell St.

Morehead City

(252) 222-6126

coastalcarolina.score.org

Greensboro Chapter #0246

1451 S. Elm Eugene St., suite 2306

(336) 333-5399

greensboro.score.org

Outer Banks Chapter #0497

101 Town Hall Drive

Kill Devil Hills

(252) 256-9717

outerbanks.score.org

Raleigh Chapter #0096

300 Fayetteville St., suite 440

(919) 869-4151

raleigh.score.org

Sandhills Area Chapter #0364

95 Cherokee Drive

Pinehurst

(910) 420-0121

sandhills.score.org

Western North Carolina Chapter #0242

140 W. Fourth Ave., room 108

Hendersonville

(828) 693-8702

westernnc.score.org

Arthur and Sandra Johnson, owners 

of 21 Short Stop in Georgia, received 

assistance from their local Small Business 

Development Center and SCORE chapter. 
12

LOCAL BUSINESS ASSISTANCE

Women’s 

Business Centers

Women’s Business 

Center of Fayetteville

230 Hay St.

(910) 323-3377 x28

wbcfay.org

Women’s Business Center 

of North Carolina

5800 Faringdon Place

Raleigh

(919) 956-2320

theinstitutenc.org/

programs/womensbusiness-center-of-northcarolina/

Western Women’s 

Business Center

1465 Sandhill Road #2006

Candler

(828) 633-5065 x103

carolinasmallbusiness.

org/wwbc

Women’s Business 

Center of Charlotte

9115 Harris Corners 

Parkway #440

(704) 509-5884

www.theinstitutenc.org/wbcc

Small Business 

& Technology 

Development Centers

SBTDC Statewide 

Administrative Office

5 W. Hargett St., suite 600

Raleigh

(800) 258-0862

sbtdc.org

Western Carolina 

University SBTDC

46 Haywood St., suite 212

Asheville

(828) 251-6025

Appalachian State 

University SBTDC

130 Poplar Grove Road Connector

Boone

(828) 262-2492

UNC-Chapel Hill SBTDC

1700 Martin Luther King Jr. Blvd., 

suite 115

Chapel Hill

(919) 962-0389

UNC Charlotte SBTDC

Portal Building, suite 252

9319 Robert D. Snyder Road

Charlotte

(704) 687-0440

Western Carolina 

University SBTDC

104 Forsyth Building, suite 226

Cullowhee

(828) 227-3504

North Carolina Central 

University SBTDC 

1801 Fayetteville St.

Willis Building, room 133

Durham

(919) 530-7889

Elizabeth City State 

University SBTDC

HL Trigg Building, room 102

1704 Weeksville Road

Elizabeth City

(252) 335-3247

Fayetteville State 

University SBTDC

1200 Murchison Road

Fayetteville

(910) 672-1727

NC A&T State University SBTDC 

Nussbaum Center

1451 S. Elm-Eugene St.

Greensboro

(336) 256-9300

East Carolina 

University SBTDC

300 E. First St., Willis Building

Greenville

(252) 737-1385

Appalachian State 

University SBTDC

1990 Main Ave. Southeast

Hickory

(828) 345-1110

UNC-Pembroke SBTDC

202 Main St.

Pembroke

(910) 775-4007

Elizabeth City State 

University SBTDC 

2522 S. Croatan Highway, 

unit 1-A

Nags Head

(252) 335-3334

NC State University SBTDC

1021 Main Campus Drive

Raleigh

(919) 513-1500

UNC Wilmington SBTDC 

803 S. College Road, suite A

Wilmington

(910) 962-3744

Winston-Salem State 

University SBTDC

112B R.J. Reynolds Center

601 S. Martin Luther 

King Jr. Drive

Winston-Salem

(336) 750-2030

North Carolina 

Veterans Business 

Outreach Center

Fayetteville State University

1200 Murchison Road

Fayetteville

(910) 672-1107

fsuvboc.edu
 13

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.

LOCAL BUSINESS ASSISTANCE
14

LOCAL BUSINESS ASSISTANCE

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.

Market Research

Need to do research on your clients and 

location? View consumer and business 

data for your area using the Census 

Business Builder: Small Business Edition, 

https://cbb.census.gov/sbe. Filter your 

search by business type and location to 

view data on your potential customers, 

including consumer spending, and 

a summary of existing businesses, 

available as a map and a report.

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.

» North Carolina Secretary of State

(919) 814-5400

sosnc.gov/online_services/search/

by_title/_business_registration

How to Start a Business in 

North Carolina

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

VISITNC.COM
 15

LOCAL BUSINESS ASSISTANCE

» Business Link North Carolina

(800) 228-8443

blnc.gov

» Economic Development Partnership 

of North Carolina

(800) 228-8443

edpnc.com/start-or-grow-a-business/

start-a-business/license-permits

Name Registration

Register your business name with the 

county clerk where your business is 

located. If you’re a corporation, also 

register with the state.

» North Carolina Government Directory

nc.gov search for business registration

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.

The Virtual Small Business Tax 

Workshop is the first of a series of video

products designed exclusively for small 

business taxpayers. This workshop helps 

business owners understand federal 

tax obligations, irs.gov/businesses/

small-businesses-self-employed/

small-business-self-employed-virtualsmall-business-tax-workshop.For small 

business forms and publications, visit 

irs.gov/businesses/small-businessesself-employed/small-business-formsand-publications. 

» Taxpayer Advocate Service

Greensboro

(336) 574-6119

Outside Greensboro

(877) 777-4778

» IRS Tax Assistance Centers

Asheville

151 Patton Ave.

(844) 545-5640

Charlotte

Five Resource Square

10715 David Taylor Drive

(844) 545-5640

Durham Virtual Assistance

(844) 545-5640

Fayetteville

225 Green St.

(844) 545-5640

Greensboro

2835 S. Charles Blvd.

(844) 545-5640

Greenville

2835 S. Charles Blvd.

(844) 545-5640

Hickory

1930 Third Ave. Lane Southeast

(844) 545-5640

Raleigh

7751 Brier Creek Parkway

(844) 545-5640

Wilmington

3340 Jaeckle Drive

(844) 545-5640

Winston-Salem

3340 Jaeckle Drive

(844) 545-5640

» State Taxes

North Carolina Department of Revenue

(877) 252-3052

ncdor.gov

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 fileW-2s online or

verify job seekers through the Social Security 

Number Verification Service.

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 Service 

offers information and assistance

through uscis.gov/i-9-central. For 

forms, call (800) 870-3676, for the 

employer hotline, call (888) 464-4218 or 

e-mail I-9central@dhs.gov.

E-Verify, operated by the Department 

of Homeland Security in partnership 

with the Social Security Administration, 

electronically verifies the Social Security

number and employment eligibility 

information reported on Form I-9. It’s the 

quickest way for employers to determine 

the employment eligibility of new hires. 

Visit e-verify.gov, call (888) 464-4218 or 

email e-verify@dhs.gov.

Health & Safety

All businesses with employees are required 

to comply with state and federal regulations 

regarding the protection of employees, visit 

dol.gov for information. 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.

» U.S. Department of Labor 

Charlotte Office

Wage & Hour Division

3800 Arco Corporate Drive, suite 460

(704) 749-3360

dol.gov/whd/local

» Raleigh Office

Wage & Hour Division

Somerset Bank Building

4407 Bland Road, suite 260

(919) 790-2741

dol.gov/whd/local

» NC Department of Labor

(800) 625-2267

labor.nc.gov

Employee Insurance

For health insurance options, visit 

healthcare.gov. If a business employs 

a certain number of people, workers’ 

compensation insurance must be carried. 

If you hire employees you may be required 

to provide unemployment insurance.

» North Carolina Department 

of Insurance

(919) 807-6750

ncdoi.com
16

LOCAL BUSINESS ASSISTANCE

Environmental 

Regulations

State assistance is available for small 

businesses that must comply with 

environmental regulations under the Clean 

Air Act. State Small Business Environmental 

Assistance programs provide free, 

confidential assistance to help small

business owners understand and comply 

with complex environmental regulations 

and permitting requirements. These state 

programs can help businesses reduce 

emissions at the source, often reducing

regulatory burden and saving you money. 

To learn more about these free services, 

visit nationalsbeap.org/states/list.

Disability 

Compliance

For assistance with the Americans with 

Disabilities Act call (800) 669-3362 or visit 

ada.gov.

Child Support 

Program

Employers are essential to the success of the 

child support program and are responsible 

for collecting 75 percent of support 

nationwide through payroll deductions. 

The office ofChild Support Enforcement

atHealth andHuman Services offers

employers step-by-step instructions for 

processing income withholding orders for 

child support. “A Guide to an Employer’s Role 

in the Child Support Program” is available 

atthe office ofChild Support Enforcement’s

website at acf.hhs.gov/programs/css/

resource/a-guide-to-an-employers-rolein-the-child-support-program. You can 

also find information about other employer

responsibilities and tools that can make 

meeting those responsibilities easier, such 

as electronic income withholding orders 

and the Child Support Portal, at acf.hhs.

gov/css/employers. Send questions to 

employerservices@acf.hhs.gov.

Intellectual Property

Patents, trademarks, and copyrights are 

types of intellectual property that serve 

to protect creations and innovations. 

Intellectual property may be valuable assets 

for small businesses and entrepreneurs, 

and are important to consider in the 

development of any business plan.

Patents and 

Trademarks

For information and resources about 

U.S. patents and federally registered 

trademarks: Visit uspto.gov or call the 

U.S. Patent and Trademark office Help

Center at (800)786-9199.

A patent for an invention is the grant 

of a property right to an inventor, issued 

by the patent office. The right conferred

by the patent grant is the right to exclude 

others from making, using, offering for

sale, or selling the invention in the United 

States or importing the invention.

There are three types of patents:

• Utility patents may be granted to 

anyone who invents or discovers any 

new and useful process, machine, 

manufacture, or composition of matter, 

or any new and useful improvement.

• Design patents may be granted to 

anyone who invents a new, original, 

and ornamental design for an article 

of manufacture.

• Plant patents may be granted to 

anyone who invents or discovers and 

asexually reproduces any distinct and 

new variety of plant, other than a tuber 

propagated plant or a plant found in 

an uncultivated state. For information 

visit uspto.gov/inventors.

A trademark or service mark includes 

any word, name, symbol, device, or any

combination used or intended to be used 

to identify and distinguish the goods/

services of one seller or provider from 

those of others, and to indicate the source 

of the goods/services.

Trademarks and service marks may be 

registered at both the state and federal 

level with the latter at the U.S. Patent and 

Trademark office. Federally registered

trademarks may conflict with and

supersede those registered only at the 

state level. For information visit uspto.

gov/trademarks.

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 are expressed. 

For general information contact:

» U.S. Copyright office

U.S. Library of Congress

James Madison Memorial Building

101 Independence Ave. Southeast 

Washington, DC

(202) 707-3000 or toll free 

(877) 476-0778

copyright.gov

Economic 

Development

North Carolina Department of Commerce

(919) 814-4600

nccommerce.com

North Carolina Economic 

Development Partnership

(919) 447-7777

edpnc.com

North Carolina Community College 

Small Business Centers

You can access entrepreneurial training, 

counseling, and resources at one of these 

NC Community College Small Business 

Centers, www.ncsbc.net.

Alamance

(336) 506-4312

A-B Tech

(828) 398-7950

Beaufort County

(252) 940-6306

Bladen

(910) 879-5572

Blue Ridge

(828) 694-1751

Brunswick

(910) 755-7306

Caldwell

(828) 726-2615

Cape Fear

(919) 362-7469

Carteret

(252) 222-6127

Catawba Valley

(828) 327-7000 x4102

Central Carolina-Dunn

(910) 892-2884
 17

Central Carolina-Pittsboro

(919) 545-8013

Central Carolina-Sanford

(919) 718-7544

Central Piedmont

(704) 330-6736

Cleveland

(704) 669-4146

Coastal Carolina

(910) 938-6319

College of the Albemarle

(252) 335-0821 x2370

Craven

(252) 638-1088

Davidson County

(336) 224-4557

Durham Technical

(919) 536-7241 x4501

Edgecombe

(252) 823-5166 x164

Fayetteville Tech

(910) 678-8496

Forsyth Technical

(336) 757-3810

Gaston College

(704) 922-6449

Guilford Tech

(336) 334-4822 x62003

Halifax

(252) 536-7274

Haywood

(828) 627-4512

Isothermal

(828) 395-1667

James Sprunt

(910) 275-6202

Johnston

(919) 209-2015

Lenoir

(252) 522-8021

Martin

(252) 789-0202

Jusak Bernhard and Jeff Manley, owners of 

TailsSpin, grew their business in Savannah, 

Georgia, with the help of an SBA microloan.

Mayland

(828) 766-1295

McDowell Tech

(828) 652-0634

Mitchell

(704) 873-3227

Montgomery

(910) 898-9682

Nash

(252) 451-8233

Pamlico

(252) 745-7348

Piedmont-Yanceyville

(336) 694-4013

Piedmont-Person

(336) 599-0032 x206

Pitt

(252) 493-7541

Randolph

(336) 633-0240

Richmond

(910) 410-1687

Roanoke-Chowan

(252) 862-1279

Robeson

(910) 272-3631

Rockingham

(336) 342-4261

Rowan-Cabarrus

(704) 216-3534

Sampson

(910) 900-4025

Sandhills

(910) 695-3938

South Piedmont

(704) 993-2424

Southeastern

(910) 788-6419

Southwestern

(828) 339-4211

Stanly

(704) 991-0182

Surry

(336) 386-3602

Tri-County

(828) 835-9564 x203

Vance-Granville

(252) 738-3240

Wake Tech

(919) 335-1007

Wayne

(919) 739-6941

Western Piedmont

(828) 448-6719

Wilkes

(336) 838-6166

Wilson

(252) 246-1232

LOCAL BUSINESS ASSISTANCE
18

10 Tips 

to Help You Build and Grow a 

Stand-Out Small Business Brand

Build a better business with these time-tested tips.

The United States loves small businesses—it’s official! That’s

according to a survey by the Pew Foundation reported by Small 

Business Trends, smallbiztrends.com, which found that 71 percent 

of Americans view small business more favorably than any other 

institutions, including religious organizations.

Why is this? Well, small businesses are seen as a positive influence

“on the way things are going in this country.” But it’s more than that.

Small businesses are in a unique position to create valuable 

customer experiences. Their products and services are often niche;

the target customer is very defined; and business operations

are agile and unconstrained by corporate rules and processes. 

Small businesses are also trusted for their integrity, community 

engagement, and customer service. When was the last time you 

called a small business and got put through to an automated call 

center? These seemingly small things come together to create a 

hugely competitive value proposition—and are the lynchpin of 

your brand.

But what can you do to leverage these experiences and grow 

the appeal of your brand—without breaking the bank? Here are 10 

tips that can help.

1

What is Your Brand?

First, it’s important to understand that your brand is much 

more than your logo, merchandising, or products. As I 

mentioned above, it is about the sum total of the experiences 

customers have with your business. This includes the visual elements 

of your business, but it also includes what you do, how you do it, what 

your customer interactions are like, and the type of information you 

share in your marketing and on social media. All of these elements help 

establish the trust and credibility of your business.

Elliot Henry, an 8(a) 

program graduate, 

runs Unlimited Water 

Processing in St. Louis, 

Missouri.

LOCAL BUSINESS ASSISTANCE
 19

LOCAL BUSINESS ASSISTANCE

2

Stand Out

Standing out means being different. If your brand is

going to be strong, you need to be able to pinpoint 

what it is that makes what you do unique. What 

differentiates you from others in your industry? A SCORE mentor,

sba.gov/score, can help you use competitive differentiators

to build your business brand. Don’t forget to weave your 

differentiators into your company’s messaging and marketing.

3 Have Great Products and Services

Word of mouth is often a small business’s greatest lead

generator, so having great products and services that 

people talk about is a critical part of your brand and 

why you are in business. Even the most outgoing and charming 

small business owner is not going to succeed in bringing 

customers back unless the product or service they provide 

delivers and exceeds expectations. Don’t lose sight of your 

product—keep refining it, testing new offerings, and making sure

you always put product first, not the money it brings in.

4 Make Sure Your Customers Know 

the Face Behind the Product

One of the biggest reasons that small businesses fail 

is because of the persistent absence of the business 

owner. You only need to look at a few episodes of business 

makeover TV shows to witness what can go wrong when a 

business is left to run itself. Without an actively engaged owner,

employees lose motivation and structure, which can quickly lead 

to sloppy service, a poor product, and customer churn. Yes, your 

business needs to be able to function without your constant 

presence, but it’s important to strike a balance. Find ways to 

make sure your customers know you and connect with the face 

behind the business. Businesses really thrive when the energy of 

the owner is present.

5 Get Your Name and Logo Right

This is essential to brand recognition and it’s important 

to get it right the first time (changing your name and

logo can be costly down the road). Your logo and name 

should be easily recognizable and reflect the nature and tone of

your business as well as appeal to your target market. I’m a dog 

owner, and two of my absolute favorite small businesses cater 

to pet owners: my local provider of dog walking services and 

a healthful pet food store. The names and logos of both these 

businesses reflect the personality of their brands, what they

stand for, the products they offer, their market (people and their

pets), and the overall tone of their businesses. When I see their 

logos, it makes me feel good; I feel an affinity with them, and

that’s what you need to shoot for.

6

Have a Distinct Voice

A great way to ensure your distinct brand message 

is delivered consistently across your business is to 

focus on how you and your employees interact and 

communicate with customers in-person, on the phone, and on 

social media. Not sure what your “voice” should be? Look to 

other brands. What do they do that you’d like to emulate? How 

do they greet and interact with you? What is it that they do that 

makes you feel good about doing business with them?

7

Build Community Around What you Do

A successful brand is one that is trusted and respected 

by customers,building a strong community online 

and off can help you achieve this. You don’t have to

spend a lot of money to do this. In fact, many successful brands 

concentrate almost exclusively in online and offline community

building as opposed to traditional advertising. Facebook 

and Twitter are great outlets for this, as is your blog. Offline

participation in community activities, such as local events, 

fundraisers, and charities, as well as hosting your own events, 

such as workshops or loyal customer events, can all help you 

build community and extend the trust your brand has earned.

8

Be an Advocate for Your Business— 

Not Just a Salesman

You don't have to be the greatest salesman to succeed 

in business. Selling takes many forms, and being a 

brand advocate gels them all together. For example, many small 

business owners strive to be the number one salesman, the 

number one cheerleader, and the number one fan of their own 

business (you’ve got to be excited about it if you want others to 

be excited too). If you are passionate about your business, be an 

advocate for it. Use many of the tips here to make sure people 

understand what you do, the story behind your products, what 

your products have done for people, your methods and mission. 

Invite people in!

9 Be Reliable

Letting your customers down by failing to live up 

to your own promises and brand standards can be 

particularly harmful for small businesses that depend 

heavily on referrals. The foundation of brand loyalty lies in great 

service; a happy customer is a loyal customer. So make sure you 

aren’t making promises that you can’t keep,whether you run a 

pizza business and pledge to deliver within 30 minutes, or you’re 

a painting contractor who promises to start a job on a Monday at 

9 a.m. sharp. Stand by your promises. 

10 Have a Value Proposition

Value, not to be mistaken with price, can help 

define your brand and differentiate you from

the competition. This goes back to my second 

point about standing out. What niche do you serve? What do you 

do well in that niche that makes you different from everyone

else? What are the emotional benefits of what you do? The

answers to these questions will help define what your value is to

your customers. It could be your great customer service, product 

quality, innovation, or any combination of these.

written by Caron Beesley, contributor
20

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
 21

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
22

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
 23

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 49.

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
24

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
 25

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
26

FACEBOOK BLUEPRINT

We’re Builders

at Heart

Building a successful business is no easy feat. You’re responsible for managing financing, cashflow, 

hiring, payroll, taxes—all of which are areas that are challenging enough on their own before you take 

into account the efforts required to find and retain profitable customers.

Whether your business is creating products or offering services,

you’ll need to build your brand and find a way to reach your most

valuable customers and prospects. 

Like you, we’re builders at heart. At Facebook, we’ve built a 

company that connects billions of people around the world. Our 

teams are constantly iterating, solving problems and working 

together to empower people to build community and connect to 

one another in meaningful ways. 

We’ve also built powerful tools that help millions of small 

businesses to expand their reach, find new customers, and

subsequently drive transactions and build lasting

relationships with them. 

For example, Lloyd Taco, a food truck and restaurant company 

based in Buffalo, New York, built their business from scratch

using a Facebook Business Page (and Page tools) as their go-to 

platform for engaging with the community. The actions they took 

on their page included announcing the truck’s whereabouts, 

managing promotions and communicating directly with 

customers. As of mid-2018, the company reported:

• 37% of new customers learned about Lloyd Taco from Facebook

• 42,000 people reached per week, on average

• 15 hours saved per week by prescheduling Facebook

post publishing

While it’s easier than ever before to make your small business 

brand big by leveraging mobile technology and social media, we 

know it can be daunting for entrepreneurs and owners who are 

not experienced digital marketers. 

That is why we created Facebook Blueprint—a global education 

program that offers free, self-paced courses (online and video).

It will help you master the tools and create effective marketing

on Facebook and Instagram. From Creating a Facebook Business 

Page to Audience Targeting to Campaign Measurement, there’s a 

course for everyone whether you’re a beginner or advanced.

ADVERTISEMENT
 27

ADVERTISEMENT FACEBOOK BLUEPRINT

3 Tips

for Building Your

Brand Online

Create a place for people to “meet your business” online

You can create your Facebook Business Page in minutes. It’s 

simple, free, and looks great on both desktop and mobile. 

Be sure to select the Page template and action buttons (e.g. Shop 

Now, Send a Message, Write a Recommendation) that make the 

most sense for your business.

Build an active and engaged audience for your business

Grow your audience by inviting people who may be 

interested in what you have to offer to like your Business

Page. Your audience will likely consist of a wide variety of 

people — friends or family who are fans of your product/

content, potential customers, current customers and former 

customers. Posting on your Business Page is a great way to let 

your customers and fans know what your business is up to. 

Keep customers interested and engaged with product or service 

updates, special promotions, event notifications and more.

Manage many aspects of your business from your Page

In addition to posting, there are many more ways for you 

to use your Page to manage your business:

• Encourage customers to take specific actions - Drive 

more transactions with Page features tailored for 

your business type. For example, you can schedule 

appointments or take reservations, drive people to your 

website’s shop or donate page, or provide a link for your 

app or game to encourage people to download.

• Offer great customer service - People can communicate 

with your business through Messenger—it’s a familiar 

and convenient way to answer questions or help out a 

customer. You can even create and save responses to 

common inquiries to cut down on response time. 

• Post an open job - Reach qualified job candidates

where they’re already spending their time—on 

Facebook. You can post job opportunities on your 

Business Page for free.

• Share on offer - Create coupons and discounts right 

from your Page to let people know about specials and 

deals—it can help you re-engage existing customers and 

attract new ones.

• Promote an event - If you’re hosting an event for your 

business, you can use Facebook Events to spread the 

word. Share key details (time, location, etc.), increase 

attendance and sell tickets.

• Sell things on Marketplace - Connect your products 

and services to your local community by listing things to 

Facebook Marketplace. You can target buyers on the go 

with mobile-friendly listings.

https://fb.me/start-your-learning-here

Download and print your free ‘Grow 

Your Business’ digital infographic which 

provides a list of recommended online 

courses for 6 marketing challenges 

commonly faced by businesses.

Want to grow your

business but don’t

know where to start?

You’re building a business, which means you’re also building your brand. These days, the first place 

people look when learning more about a business is online, and having a Facebook Business Page

gives you a chance to make important information about your business easily accessible.

Here are 3 tips to set up your Facebook Business Page (and to make the most of Page tools) so you can be 

on your way to reaching your business goals.

This is a paid advertisement. The inclusion of this paid 

advertisement in the SBA Small Business Resource Guide does 

not indicate SBA’s endorsement of the company, its owner, or its 

advertised products or services.
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

SBA 

Lenders

These participating SBA Lenders serve all of North 

Carolina unless otherwise noted.

ARDEN

HomeTrust Bank

140 Airport Road, suite P

(828) 684-3156

htb.com

ALBEMARLE

Uwharrie Bank

uwharrie.com

167 N. Second St. 

(704) 983-6181

800 NC 24-27 Highway 

(704) 983-6181

710 N. First St. (704) 983-6181

132 N. First St. (704) 983-5959

APEX

HomeTrust Bank

10 Woodfin St.

(828) 254-8144

htb.com

North State Bank

56 Hunter St., suite 210

(919) 855-9925

northstatebank.com

ASHEBORO

Uwharrie Bank

222 Sunset Ave.

(704) 991-1228

uwharrie.com

ASHEVILLE

HomeTrust Bank

10 Woodfin St.

(828) 254-8144

htb.com

Mountain Bizcapital Inc.

152 S. Lexington Ave.

(855) 296-0048

mountainbizworks.org

BREVARD

Entegra Bank

2260 Asheville Highway

(828) 883-8700

entegrabank.com

CARY

HomeTrust Bank

1315 Bradford View Drive

(919) 334-5280

htb.com

CASHIERS

Entegra Bank

500 Highway 64 East

(828) 743-7000

entegrabank.com

CHARLOTTE

Aquesta Bank

4519 Sharon Road

(704) 804-7930

aquestabank.com

HomeTrust Bank

100 Queens Road, suite 100

(704) 971-7000

htb.com

Uwharrie Bank

uwharrie.com

141 Providence Road 

(704) 991-2828

5231 Piper Station Drive, 

suite 100 (980) 960-5600

CHERRYVILLE

HomeTrust Bank

100 W. Main St.

(704) 435-3737

htb.com

CLAYTON

North State Bank

1540 E. Front St., suite 2

(919) 855-9925

northstatebank.com

CLYDE

HomeTrust Bank

8583 Carolina Blvd.

(828) 627-9621

htb.com

COLUMBUS

Entegra Bank

160 W. Mills St.

(828) 894-2550

entegrabank.com

HomeTrust Bank

685 W. Mills St.

(828) 894-3021

htb.com

CONCORD

Uwharrie Bank

uwharrie.com

25 Palaside Drive Northeast 

(704) 262-3855

700 Church St. North 

(704) 262-3855

CORNELIUS

Aquesta Bank

19510 Jetton Road 

(704) 439-4343

aquestabank.com

DAVIDSON

Aquesta Bank

568 Jetton St., suite 100

(704) 439-4350

aquestabank.com

EDEN

HomeTrust Bank

106 S. Van Buren Road

(336) 623-8427

htb.com

ELKIN

Surrey Bank & Trust

393 CC Camp Road

(336) 526-1803

surreybank.com

FOREST CITY

HomeTrust Bank

351 Butler Road

(828) 248-4199

htb.com

FRANKLIN

Entegra Bank

50 W. Main St. (828) 524-7000

30 Hyatt Road (828) 524-1000

entegrabank.com

GARNER

North State Bank

835 Highway 70 West

(919) 661-2265

northstatebank.com

GREENSBORO

Bank of Oak Ridge

bankofoakridge.com

1597 New Garden Road 

(336) 315-2400

400 Pisgah Church Road 

(336) 286-1900

HomeTrust Bank

324 W Wendover Ave., suite 111

(800) 627-1632

htb.com

HENDERSONVILLE

Entegra Bank

640 N. Main St.

(828) 692-3000

1617 Spartanburg Highway

(828) 692-9000

HomeTrust Bank

228 Sixth Ave. East

(828) 693-0264

htb.com

HIGHLANDS

Entegra Bank

473 Carolina Way

(828) 526-3000

entegrabank.com

HUNTERSVILLE

Aquesta Bank

9906 Knockando Lane

(704) 439-1430

aquestabank.com
32

FUNDING PROGRAMS

LEXINGTON

HomeTrust Bank

107 W. Center St.

(336) 243-2766

htb.com

LOCUST

Uwharrie Bank

416 W. Main St.

(704) 888-8897

uwharrie.com

MOORESVILLE

Aquesta Bank

aquestabank.com 

837 Williamson Road 

(704) 439-1440

1078 Brawley School Road 

(704) 439-1450

MOUNT AIRY

Surrey Bank & Trust

145 N. Renfro St.

(336) 783-3900

surreybank.com

MT. PLEASANT

Uwharrie Bank

1490 S. Main St.

(704) 436-2300

uwharrie.com

MURPHY

Entegra Bank

12 Peachtree St.

(828) 837-8000

entegrabank.com

NORTH WILKESBORO

Surrey Bank & Trust

1096 Main St.

(336) 818-1299

surreybank.com

NORWOOD

Uwharrie Bank

107 S. Main St.

(704) 474-3103

uwharrie.com

OAK RIDGE

Bank of Oak Ridge

2211 Oak Ridge Road

(336) 662-4900

bankofoakridge.com

OAKBORO

Uwharrie Bank

624 N. Main St.

(704) 485-3435

uwharrie.com

PILOT MOUNTAIN

Surrey Bank & Trust

653 S. Key St.

(336) 368-1122

surreybank.com

RALEIGH

HomeTrust Bank

4140 ParkLake Ave., suite 610

(919) 334-5680

htb.com

North State Bank

6200 Falls of Neuse Road

(919) 719-9400

northstatebank.com

REIDSVILLE

HomeTrust Bank

2805 Reid School Road

(336) 349-6969

htb.com

SALUDA

Entegra Bank

108 E. Main St.

(828) 749-2550

entegrabank.com

SHELBY

HomeTrust Bank

224 E. Warren St.

(704) 487-4387

htb.com

SUMMERFIELD

Bank of Oak Ridge

4423 Highway 220 North

(336) 644-7310

bankofoakridge.com

SYLVA

Entegra Bank

498 E. Main St.

(828) 586-1000

entegrabank.com

TRYON

HomeTrust Bank

341 N. Trade St.

(828) 859-9141

htb.com

WADESBORO

Uwharrie Bank

211 S. Greene St.

(704) 694-2122

uwharrie.com

WAYNESVILLE

Entegra Bank

2045 S. Main St.

(828) 456-3006

entegrabank.com

HomeTrust Bank

800 Russ Ave.

(828) 456-7330

htb.com

WEAVERVILLE

HomeTrust Bank

5 Northridge Commons 

Parkway

(828) 645-4277

htb.com

WILMINGTON

Aquesta Bank

901 Military Cutoff Road

(910) 782-3830

aquestabank.com

WINSTON-SALEM

HomeTrust Bank

11564 Old US Highway 52

(336) 764-3626

htb.com

District Wide 

Lenders

Ameris Bank

(229) 985-1111

amerisbank.com

Atlantic Capital Bank

(855) 693-7422

atlanticcapitalbank.com

Bancorp Bank

(800) 545-0289

thebancorpbank.com

Bank of America

(980) 335-3561

bankofamerica.com

Bank of George

(702) 851-4200

bankofgeorge.com

BankUnited

(877) 779-2265

bankunited.com

Branch Banking and Trust Co.

(888) 228-6654

bbandt.com

Byline Bank

(773) 244-7000

bylinebank.com

Carolina Small Business 

Development Fund

(919) 803-1437

carolinasmallbusiness.org

Celtic Bank Corp.

(800) 509-6191

celticbank.com

Citizens Bank

(866) 882-2264

citizensbank24.com

Coastal FCU

(800) 868-4262

coastal24.com

Commonwealth 

Business Bank

(323) 988-3000

cbb-bank.com

Compass Bank

(800) 266-7277

bbvacompass.com

CresCom Bank

(855) 273-7266

haveanicebank.com

Customers Bank

(610) 415-9090

customersbank.com

Fidelity Bank

(800) 248-5466

lionbank.com

Fifth Third Bank

(877) 534-2264

53.com

FinWise Bank

(801) 545-6000

finwisebank.com

First Bank

(866) 792-4357

localfirstbank.com
 33

FUNDING PROGRAMS

First Bank Financial Centre

(888) 569-9909

https://www.fbfcwi.com

First Financial Bank

(800) 562-6896

ffb1.com

First Home Bank

(727) 685-2083

firsthomebank.com

First Landmark Bank

(770) 792-8870

firstlandmark.com

First National Bank 

of Pennsylvania

(800) 555-5455

fnbcorporation.com

First Savings Bank

(877) 418-2669

fsbbank.net

First Tennessee Bank

(800) 382-5465

firsttennessee.com

First-Citizens Bank & Trust Co.

(888) 323-4732

firstcitizens.com

Five Star Bank

(916) 626-5000

firststarbank.com

Florida Capital Bank

(800) 318-3159

floridacapitalbank.com

Georgia Banking Co.

(770) 627-9570

geobanking.com

Harvest Small 

Business Finance

(949) 534-0240

harvestsbf.com

Independence Bank

(877) 621-1776

independence-bank.com

Live Oak Banking Co.

(910) 790-5867

liveoakbank.com

Metro City Bank

(888) 852-9602

metrocitybank.com

Natural Capital 

Investment Fund Inc.

(304) 870-2238

ncifund.org

Newtek Small Business 

Finance Inc.

(855) 763-9835

newtekone.com

NOA Bank

(678) 385-0800

noabank.com

Paragon Bank

(901) 273-2900

bankparagon.com

Pinnacle Bank

(800) 264-3613

pnfp.com

Platinum Bank

(651) 332-5200

platinumbankmn.com

PNC Bank 

National Association

(888) 762-2265

pncbank.com

Radius Bank

(800) 242-0272

radiusbank.com

ReadyCap Lending

(800) 713-4984

rclending.com

Regions Bank

(800) 734-4667

www.regionsbank.com

Seacoast National Bank

(800) 706-9991

seacoastbank.com

Select Bank & Trust Co.

(877) 610-7315

selectbank.com

Southern Bank and Trust Co.

(855) 275-7226

southernbank.com

Spirit of Texas Bank

(877) 366-1836

sotb.com

Stearns Bank 

National Association

(800) 320-7262

stearnsbank.com

SunTrust Bank

(800) 786-8787

suntrust.com

TD Bank 

National Association

(888) 751-9000

tdbank.com

Truliant FCU

(800) 822-0382

truliantfcu.org

United Community Bank

(800) 822-2651

ucbi.com

United FCU

(888) 982-1400

unitedfcu.com

United Midwest Savings Bank

(800) 686-2052

umwsb.com

Wells Fargo Bank 

National Association

(800) 869-3557

wellsfargo.com

West Town Bank & Trust

(855) 693-8290

westtownbank.com

Participating 

Certified

Development 

Companies

BEFCOR

befcor.com

Charlotte

5970 Fairview Road, suite 218

(704) 414-3001

Raleigh

5 W. Hargett St., suite 310

(919) 295-5122

New Bern

233 Middle St., suite 206

(252) 638-6724

Carolina Business Capital

1307 W. Morehead St., suite 201

Charlotte

(704) 373-1233

cbc504.com

Self-Help

selfhelp504.org

Durham

Triangle Regional 504 

Lending Office

301 W. Main St.

(919) 794 6789

Greensboro

Serving Piedmont Triad, 

Charlotte, and western NC

3400 Battleground Ave.

(336) 217-1215

Wilmington

Serving eastern NC

272 N. Front St., suite 311

(919) 956-4678

Community 

Advantage 

Lenders

Carolina Small Business 

Development Fund

3120 Highwoods Blvd.

Raleigh

(919) 803-1437

carolinasmallbusiness.org

Mountain BizWorks

153 S. Lexington Ave.

Asheville

(828) 253-2834

mountainbizworks.org

Carolina Business Capital

1307 W. Morehead St. suite 201

Charlotte

(704) 373-1233

cbc504.com

Participating 

Microlenders

Mountain BizCapital

153 S Lexington Ave.

Asheville

(828) 253-2834

mountainbizworks.org

Accion East

(866) 245-0783

accioneast.org

Intermediary 

Lending Pilot 

Program

NC CEED

230 Hay St.

Fayetteville

(910) 323-3377

ncceed.org

Carolina Small Business 

Development Fund

3128 Highwoods Blvd., suite 170

Raleigh

(919) 803-1437

carolinasmallbusiness.org
34

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
 35

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
36

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
 37

R&D Opportunities for 

Next Gen Entrepreneurs

Do you work in one of these areas?

» Advanced materials

» AgTech

» Artificial intelligence

» Biomedical

» Cybersecurity

» Energy

» First response

» National security

» Space exploration

The Small Business Innovation Research and the Small Business 

Technology Transfer programs, also called America’s Seed Fund, 

provide more than $2.5 billion in early stage capital through more 

than 4,000 new awards annually.

How it works

Every year, 11 participating federal agencies announce topical areas 

that address their R&D needs. Eligible businesses submit proposals 

through a competitive process, and if successful, enter a three phase 

awards program.

» Phase I, the proof-of-concept stage, typically lasts from 6-12 

months, often providing $100,000-$225,000

» Phase II, the full R&D period, lasts about 24 months and typically 

provides $600,000-$1.5 million.

» Phase III, the commercialization stage, where you seek public 

or private funds for your venture

How else does your startup benefit? The funding agency does not

take an equity position or ownership of your business. The federal 

government also has a protection period in which it does not 

disclose your reports and data.

Visit sbir.gov to find funding opportunities and helpful program

tutorials, as well as past award winners, such as Qualcomm, iRobot, 

Illumina, and Symantec.

Participating agencies:

» Department of Agriculture

» Department of Commerce

» National Institute of Standards and Technology

» 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

If you are engaged in high-risk research and development, your small business may be eligible 

to compete for funding to develop your tech and get it to market. OUSA CHEA/UNSPLASH

ALEXANDRE DEBIÈVE/UNSPLASH

FUNDING PROGRAMS
38

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
 39

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
40

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 DISASTER ASSISTANCE
 41

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.

DISASTER ASSISTANCE FUNDING PROGRAMS
42

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
 43

FUNDING PROGRAMS

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 servicedisabled veteran, minority, 8(a), and HUBZone-certified

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 servicedisabled veteran, minority, 8(a), and HUBZone-certified

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

Kevin Valdes

Seattle, Wash.

(206) 553-7277

Jennifer C. Bledsoe

Washington, DC

(202) 205-6153
44

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. 
 45
46

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
 47

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
48

• 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 

itis more likely than notthatthey 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.

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
 49

CONTRACTING

Regional/State 

Contracting Programs

North Carolina Department of 

Administration Vendor Portal

ncadmin.nc.gov/businesses/vendorresources

North Carolina State 

Construction Office

(919) 807-4100

sco@doa.nc.gov

ncadmin.nc.gov/businesses/

construction

North Carolina Office of Historically 

Underutilized Businesses

(919) 807-2330

huboffice.doa@doa.nc.gov

ncadmin.nc.gov/businesses/hub

North Carolina Department of 

Information Technology

(919) 754-6000

it.nc.gov/resources/it-strategicsourcing/statewide-it-contracts

North Carolina Department of 

Environmental Quality

(877) 623-6748

deq.nc.gov

North Carolina 

Procurement Technical 

Assistance Centers

sbtdc.org/ptac

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.

NC State University PTAC

1021 Main Campus Drive

Raleigh

(919) 513-1500

Western Carolina University PTAC

46 Haywood St., suite 212

Asheville

(828) 251-6025

NC A&T State University PTAC

Nussbaum Center

1451 S. Elm-Eugene St.

Greensboro

(336) 256-9300

UNC Charlotte PTAC

Portal Building, suite 252

9319 Robert D. Snyder Road

Charlotte

(704) 687-0440

Fayetteville State University PTAC

1200 Murchison Road

Fayetteville

(910) 672-1727

East Carolina University PTAC

Willis Building

300 E. First St.

Greenville

(252) 737-1385

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.

• 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.
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
52