Kentucky: Here We Grow Business

  • By creekmoremarketing
  • 29 Jul, 2015
Series of free seminars designed to help small businesses, entrepreneurs utilize resources

FRANKFORT, Ky. (Jan. 30, 2013) – The Kentucky Cabinet for Economic Development is partnering with a number of local, state and federal organizations to host a series of free seminars designed to educate small business owners and entrepreneurs on resources available to help them start, grow and sustain their businesses.

The series, Kentucky: Here We Grow Business, will begin in February and run through June, stopping in all 15 of Kentucky’s Area Development Districts.

These seminars provide a great opportunity for business owners to get their arms around the wealth of programs that can help grow their businesses, whether startups or existing operations. The Cabinet and its partners are able to assist small businesses with everything from exporting, to accessing loans, tax credits and government procurement to almost everything in between.

– Cabinet for Economic Development Secretary Larry Hayes

Numerous businesses have already taken advantage of programs such as the Kentucky Small Business Credit Initiative. The program, which is designed to help an approved lender make a loan to a small business that it normally may not have been able to lend to, has helped to fund over $20 million in loans by providing a little over $2 million in support. Every Kentucky county has at least three lenders who are participating in the program and many have more than five participating lenders servicing it.

Attendees will also learn how to access funding that can help them investigate and break into new foreign markets. Through the Kentucky Export Initiative, approved companies can receive STEP grant money to increase export activities. Small businesses can also obtain assistance with government procurement and applying for valuable tax credits. There are also programs available for innovative, technology-based businesses.

We are extremely excited to begin the tour and help small business owners and entrepreneurs across the Commonwealth. About nine out of 10 businesses in Kentucky are small businesses, so this is something that can provide tremendous support to a large portion of our economy.

– Mark Johnson, Assistant Director, Small Business Services Division

Small businesses represent more than 96 percent of all employers and employ 48 percent of the private-sector workforce. By definition, small businesses have fewer than 500 employees, but more than 90 percent of the businesses in Kentucky have fewer than 50 employees.

The Kentucky Council of Area Development Districts, the   Kentucky Small Business Development Center, Kentucky World Trade Center and the Kentucky Innovation Network are partnering with the Cabinet for the series, which begins with two seminars on Feb. 19, 2013. The seminars are free and registration is at the door. For more information call 800-626-2930.

Kentucky: Here We Grow Business Tour Stops:

Kentuckiana Regional Planning & Development Agency
Feb. 19: 9 a.m. – noon ET
11520 Commonwealth Drive, Louisville

Northern Kentucky Area Development District
Feb. 19: 1:30 p.m. – 4:30 p.m. ET
22 Spiral Drive, Florence

Bluegrass Area Development District
Feb. 26: 9 a.m. – noon ET
699 Perimeter Drive, Lexington

Buffalo Trace Area Development District
March 21: 9 a.m. – noon ET
201 Government St., Suite 300, Maysville

FIVCO Area Development District
March 21: 1 p.m. – 4 p.m. ET
32 FIVCO Court, Grayson

Gateway Area Development District
April 18: 9 a.m. – noon ET
110 Lake Park Drive, Morehead

Kentucky River Area Development District
April 18: 2 p.m. – 5 p.m. ET
917 Perry Park Road, Hazard

Cumberland Valley Area Development District
May 1: 9 a.m. – noon ET
342 Old Whitley Road, London

Lake Cumberland Area Development District
May 1: 1 p.m. – 4 p.m. CT
2384 Lakeway Drive, Russell Springs

Barren River Area Development District
May 7: 9 a.m. – noon CT
177 Graham Ave., Bowling Green

Lincoln Trail Area Development District
May 7: 2 p.m. – 5 p.m. ET
613 College Street Road, Elizabethtown

Green River Area Development District
May 21: 9 a.m. – noon ET
300 GRADD Way, Owensboro

Big Sandy Area Development District
June 4: 1 p.m. – 4 p.m. ET
110 Resource Court, Prestonsburg

Purchase Area Development District
June 18: 9 a.m. – noon CT
1002 Medical Drive, Mayfield

Pennyrile Area Development District
June 18: 1:30 p.m. – 4:30 p.m. CT
300 Hammond Drive, Hopkinsville

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By Robbi Meisel 21 Mar, 2017
WASHINGTON – Kentucky businesses and residents affected by severe thunderstorms, tornadoes, winds and hail from Feb. 28 through March 1, 2017 can apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Linda E. McMahon announced today.

McMahon made the loans available in response to a letter on March 16 from Michael E. Dossett, Authorized Representative of Gov. Matthew Bevin, requesting a disaster declaration by the SBA. The declaration covers Estill County and the adjacent counties of Clark, Jackson, Lee, Madison and Powell in Kentucky.

“The SBA is strongly committed to providing the people of Kentucky with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”

SBA’s customer service representatives will be available at the Disaster Loan Outreach Center to answer questions about the disaster loan program and help individuals complete their applications.

The Center is located in the following community and is open as indicated:
Estill County
Estill Development Alliance
177 Broadway Street
Irvine, Kentucky 40336

Opening: Thursday, March 23
Hours: 10 a.m. to 5 p.m.

Days: Monday – Friday, 9 a.m. to 5 p.m.
Saturday, March 25, 10 a.m. to 2 p.m.
Closed: Sunday, March 26
Closing: Thursday, March 30, 9 a.m. to 3 p.m.

Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.

Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may now include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.

Interest rates are as low as 3.15 percent for businesses, 2.5 percent for nonprofit organizations, and 1.875 percent for homeowners and renters with terms up to 30 years. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela .

Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov. Loan applications can also be downloaded at www.sba.gov/disaster . Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to submit applications for physical property damage is May 19, 2017 . The deadline for economic injury applications is Dec. 20, 2017.

For more information about the SBA’s Disaster Loan Program, visit their website at www.sba.gov/disaster .
By Robbi Meisel 27 Feb, 2017

LEXINGTON, Ky., (Feb. 14, 2017) – Kentucky Small Business Development Center is seeking nominations for the 2017 Pacesetter Awards. The recognition program was created to honor high performing, second-stage businesses that are changing Kentucky’s economic landscape. The deadline to submit nominations is March 15.

KSBDC encourages small businesses that meet the following minimum qualifications to apply:

         ·  Privately held

         · In business for three or more years

         · Employ six or more full-time employees, including the owner

         ·  Annual sales meet or exceed $500,000

         · Located and headquartered in Kentucky

         ·Demonstrate the intent and capacity to grow evidenced by the judging criteria.

Pacesetters will be selected based on two or more of the following criteria:

         · Growth in the number of employees

         ·Increase in sales and/or unit volume

         · Innovativeness of the product or service

         ·Response to adversity

         ·Employee engagement and commitment

         ·Contributions by the nominee to aid community-oriented projects

Pacesetters will be recognized at the Kentucky Celebrates Small Business event held at the Capitol rotunda in Frankfort during the first week of May. Each honoree will receive an award inscribed with the business’s name and a promotional video for their own use that highlights the business. In addition, KSBDC will send a customized press release announcing the award to local media and trade associations. Honorees are given the rights to use the Kentucky Pacesetter logo and event photographs in promoting their business.

Anyone may submit nominations, including third parties associated with an eligible second-stage business. A business may self-nominate by completing the required form. Winners will be notified by March 27. Full nomination requirements and the application are online at https://www.ksbdc.org/kentucky-pacesetters1 .

The Kentucky Small Business Development Center, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 12 offices located throughout the state. The center helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. KSBDC is a partner program with the U.S. Small Business Administration. More information on KSBDC services can be found on their website, http://www.ksbdc.org/ .

 

Writer: Roberta Meisel, 859-257-0104

 

UK College of Agriculture, Food and Environment, through its land-grant mission, reaches across the commonwealth with teaching, research and extension to enhance the lives of Kentuckians.

 

 

 

By Robbi Meisel 20 Feb, 2017
MURRAY, Ky., (Feb. 2017) — Chris Wooldridge, Kentucky Small Business Development Center district director for the Murray State University SBDC and Arthur J. Bauernfeind College of Business, has joined the board of directors of the Foundation for Kentucky Industry.

FKI is a statewide, not-for-profit, with the goal of strengthening manufacturing in Kentucky, a very important economic driver in the commonwealth. FKI’s Board of Directors is comprised of manufacturing, education, economic development and public policy leaders.
Project and program partners currently include LIFT (Lightweight Innovations For Tomorrow), JPMorgan Chase, KY FAME (Federation of Advanced Manufacturing Education), business and public partners.

“We are pleased to announce Chris Wooldridge, District Director of the Kentucky Small Business Development Center at the Murray State University Bauernfeind College of Business, will be joining the Board of Directors of the Foundation for Kentucky Industry. Mr. Wooldridge’s experience and expertise regarding business and economic development will be a great asset to the Foundation’s work of maximizing career opportunities for both Kentuckians and industry in 21st century manufacturing,” according to Mary C. Breeding, President and CEO, Foundation for Kentucky Industry (FKI).

About Murray State University SBDC: Murray State University hosts the West Kentucky Region of the Kentucky Small Business Development Center program.  KSBDC is a network of 12 offices located throughout the state that helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. The KSBDC is a partner program with the U.S. Small Business Administration.
For more information on KSBDC services, visit their website, http://www.ksbdc.org/ .
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