| Summit targets small-business owners
A free informational session on business financing for small-businesses owners will be held in Honolulu Dec. 5. Hawaii-based mortgage banking company Meridian Financial Network is sponsoring its first Small Business Summit, which it plans to hold annually. The company, a U.S. Small Business Administration-approved lending institution, said the half-day session will help familiarize small-business owners with both in-house and government loan programs, including SBA loan programs. The SBA offers loan programs to help small businesses obtain financing when they might not be eligible for conventional bank loans because of a lack of financial history. Speakers at the session will include Andrew Poepoe, director of the SBA's Hawaii District office; Jim Tollefson, president and CEO of the Chamber of Commerce of Hawaii; and Keith Ogata, director of S.C.O.R.E.
Small Business Calendar
MONDAY, NOV. 26Business training orientation. 6 to 7 p.m., Rondo Community Library, 461 Dale St., St. Paul. Free. Call Bonita Martin, 651-379-8429. Sponsor: Neighborhood Development Center.TUESDAY, NOV. 27Export/import counseling for metro small-business owner/operators. 9 a.m. to noon, Minnesota Trade Office, in the Minnesota Department of Employment and Economic Development, 1st National Bank Building, 332 Minnesota St., Suite E-200, St. Paul. Free. Call 651-297-4222. Sponsor: St. Paul SCORE.WEDNESDAY, NOV. 28Financial management of your business workshop. 8 a.m. to 12:30 p.m., Hiway Federal Credit Union, 840 Westminster St., St. Paul. $39. Call 651-632-8937. Sponsor: St. Paul SCORE. Topics: Small business alternatives, how to approach lenders, improving creditworthiness, understanding financial statements, the SBA loan guarantee program, and more.THURSDAY, NOV.
Bangladesh borrowers facing a debt mountain after cyclone
AMTOLA VILLAGE, Bangladesh: Nearly 20 years ago when small loans from the Nobel peace prize winning Grameen bank first became available in her village, Bilkis Begum wasted no time in signing up.
From 1985 she took out loans to start a small shop, buy a rice threshing machine and a betel leaf farm. Hard work and a shrewd business sense brought her success after success.
But like thousands of other borrowers, Bilkis, 40, is facing financial ruin after the devastating November 15 cyclone which has left her destitute and worried about her outstanding debts.
�My businesses were all very successful, but now I have lost everything,� she said, estimating the worth of her small enterprises at between 500,000 and 700,000 taka ($7,140 - 10,000).
�Everything is lost and all the improvements we made are gone,� she said, gesturing toward her ruined village which lies 200km south of Dhaka.
Local lender receives small business award
The U.S. Small Business Administration Thursday recognized the top lenders in the state for providing SBA-backed start-up and expansion loans to small businesses, as well as the government agencies that signed the most contracts with minority firms."These lenders help provide economic opportunities for those looking to go into business," said Michelle Johnston, the state SBA director.Glacier Bancorp, headquartered in Kalispell and the holding company for Valley Bank of Helena among other community banks around the state, was the top SBA lender in the year ended Sept. 30, making 76 loans totaling nearly $6.6 million. Vice President Don Chery said the company's practice of leaving the banks it acquires as stand-alone institutions helps generate SBA activity."When you own small community banks and leave them as small community banks, they have a tendency to be more community oriented," he said.
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