October 2016 Newsletter – Success in the County, upcoming events and more

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View our full October 2016 Newsletter (PDF download)

In this update: Aroostook County Success * Meet an Advisor * Meet a Partner 

Starting & Growing Businesses in Aroostook County
Highlighting recent business successes! News
Business Advisor Josh Nadeau has been busy helping to start and grow businesses in Aroostook County. Meet two recent successes:


Autotronics, Frenchville and Bangor

Autotronics, a family-owned business that specializes in the building and restoration of emergency vehicles, has been in business since 1958. Business Owner Lita Daigle approached Maine SBDC Business Advisor Josh Nadeau looking for help in restructuring some current loans as well as obtaining funds to help build a new state of the art paint facility at their headquarters in Frenchville, Maine. Read more…


Aroostook Driving School, Caribou

When Ryan Deprey and Todd Albert, well known teachers and coaches in the local school system, heard that one of the longstanding driving schools in Caribou was closing due to retirement, they saw an opportunity. The pair approached Josh Nadeau, Maine SBDC business advisor at Northern Maine Development Commission (NMDC), to take advantage of that opportunity – to start a driving school. Read more…

 

Meet a Business Advisor: Steve Lovejoy Advisor
Maine SBDC Business Advisor/Center Director since 2011
 
Territory: Cumberland and York Counties
 
Offices in: Portland
 
Steve manages the business advising centers located in Portland and Saco. He also works directly with small business owners and managers on matters relating to business startup, expansion and survival. He specializes in banking, financing and marketing.  
 
For more information on Steve including his bio, click here.

Or to connect with a business advisor closer to you, click here.

 

MEET OUR PARTNER: Small Business Administration Partner

At the Maine SBDC, we consider ourselves the hub of an entrepreneur or small business’ journey through self-employment. Part of our success is knowing the many resources available to you — to connect you to the resources that can help your business succeed. 
This month we introduce you to Small Business Administration (SBA).

 

What does SBA do? 
US Small Business AdministrationThe SBA is a program of the federal government and has four main functions: access to capital (business financing), entrepreneurial development (education, information and technical assistance/training), government contracting (federal procurement), and advocacy (voice for small business). 
The Maine District Office of the SBA is responsible for the delivery of the SBA’s programs and services, which include financial assistance for new and existing businesses through guaranteed loans made by area banks and non-bank lenders, and free counseling advice and information on starting, operating or expanding a small business through the Maine SBDC, SCORE and Women’s Business Center programs.
How can they help you/your business?  
1. Financing: SBA provides a number of financial assistance programs to small businesses that have been specifically designated to meet key financing needs, including loan programs, surety bonds and equity financing.  While the SBA itself does not make loans, it does guarantee loans made to small businesses by private and other institutions.
2. Business advising: SBA works with Maine SBDC, SCORE and WBC to provide no-cost small business advising to Maine entrepreneurs and small businesses. 
3. Information: SBA’s website is PACKED full of good information on starting and running a business. Check it out here.
4. Resource guideMaine Resource Guide for Small Business (PDF download), published each year, provides vital information for business owners in one location. 
 
We are lucky to have a great team at SBA District Office in Maine. They are available to answer your questions or to connect you to the resources you need. Contact them at 207-622-8551. Click here for more info on the Maine District Office.
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