10 Ohio companies are awarded small business loans

June 28 2013

Many people consider small business to be the backbone of the American economy and any way they can be helped is a positive step. A recent article from the News-Herald profiled a move by the Lake County Small Business Assistance Program, which recently finalized the loans for 10 Northeast Ohio businesses.

The piece features an interview with Martin Gareau, the public finance director at the Port Authority, which manages the loans. He said that this process has been going on for nearly 31 years and is part of a larger certified development program (SBA 504) which has provided $6 billion in financing to nearly 10,000 U.S. small businesses.

"These 10 businesses invested over $9.6 million with an initial commitment to create or retain 45 jobs," Gareau said. "The loans for these businesses had previously been approved and now their projects have come to fruition with several construction projects completed along with a few business acquisitions finalized."

He added that the employment number is just a starting point and is expected to grow as the economy straightens itself out.

U.S. Representative Dave Joyce was also quoted in the article expressing his delight over the increase in small business support. He said the economy is driven by these types of companies and it is a top priority of his to help Ohio small business owners hire more employees and increase the bottom line.

For these companies to remain successful they need to optimize every process like partnering with a local courier service to ensure all shipping needs are met and the customer experience is improved.