Savannah, GA - January 12, 2011 - The SBAC’s Lenders League Networking group gathered for a special end of the year meeting at Meddin Studios - “Lights, Camera, Auction!” on December 15, 2010. The Community Health Mission and Greenbriar Children’s Center were the selected beneficiaries of this event. Read More
11.16.10
Innovative Healthcare
Ever wonder how a doctor’s office gets up and running so quickly? Where do they get staff, equipment and all the ‘little things’ - pens, paper, files - needed to get going? Then, the last and most complicated part - the billing. Who actually knows how to code, file, bill and follow-up with insurance companies, agencies, individuals? Gives the average person a headache just at a cursory glance, but Annie Harvey and Rita Murphy of Innovative Healthcare Management Solutions are far from average.
Since December 2003, Innovative Healthcare Management Solutions have assisted dozens of offices in the medical profession get started and remain efficient through variety. Three years of fast-paced growth brought Annie and Rita to a crossroads in 2006. They desperately needed to expand, hire more staff and find a permanent location that could give them the ability to continue to grow in the future. Knowing their long-term goals, Patrece Grant at Capitol City Bank & Trust directed Annie and Rita to the Small Business Assistance Corporation.
“We looked at the SBAC loan programs several times. We kept thinking, ‘This loan is going to be so much paperwork. We won’t have time to do it,’” says Annie Harvey. “Then, it came to the point where we decided to do it. It was so simple and the SBAC’s staff helped us each step of the way.”
The SBA 7(a) loan guaranty program gave them the capital they needed to acquire a larger building and the City of Savannah Martin Luther King, Jr. Revolving Loan Fund -EDA program for the operating expenses incurred by the business expansion.
Four years later and they have a lot of advice for small business owners. “Don’t lease any equipment - buy it,” Annie says laughingly. “But seriously, we got into several leases that upon reviewing what we paid out of pocket for versus what it was to buy them new - we could’ve had 4 of them!”
“Don’t be afraid of your business. It’s a living being that needs to be fed and will grow in the right environment. If you need a bigger place, new employees, equipment, get the capital you need and make the expansion,” adds Rita.
10.07.10
The Buzz about Savannah Bee
“Follow your passion.” Simple advice, but these three words catapulted Savannah Bee Company’s, Ted Dennard, from teaching beekeeping to village farmers in Central America to bottling honey for gifts and making lip balm as gifts to 2010 Inc. Magazine list of fastest growing companies for the second year in a row…accomplished in a mere twelve years.
Ted began the journey at the SBDC writing a business plan with the focus and assistance of Lynn Vos. “A small business is like a hive. Every person and item has a role to play and can influence and change their environment. I needed the funding to take those people and the product to the public.” He went “public” on Broughton Street with an EDA-MLK loan in conjunction with the City of Savannah. “Savannah Bee Company had a unique, high-quality product that was ahead of the curve,” says Stephen George, Vice President of the SBAC “Ted and his team were the first in their niche. We knew from his first visit that his passion and impeccable organization would make Savannah Bee a success.”
The EDA loan that created the signature storefront Savannah-ians and visitors still buzz about spurred an addition to the Savannah Bee Company hive. Ted revisited the SBAC needing to build a warehouse & second store on Wilmington Island. An SBA 504 loan with its flexible use, low interest rates (4.62% for Sept. 2010) and long-terms (up to 20-year fixed) fit the needs.
After so much success, what does the King Bee have to say to others venturing to build their own business hive? “Many people in business don’t realize how far-reaching their seemingly little product or service is for people in the community. The analogy of small business as a beehive - every person has a role and an impact. We all interrelate in so many ways that in the day-to-day gets overlooked. But that’s where the most important stuff happens.”
08.03.10
Teresa DeSimone joins the SBAC as Microbusiness Finance Associate
Teresa DeSimone has joined the Small Business Assistance Corporation (SBAC) as a new Microbusiness Finance Associate at their satellite office in Bluffton, South Carolina. Ms. DeSimone will be responsible for production of small business loans throughout the lending process including the Microloans and 6 loan programs available in Beaufort, Hampton and Jasper counties. She will also represent the SBAC in community outreach and participate in seminars to small business & banking institutions.
“Ms. DeSimone is a welcome addition to the SBAC team. She will be in our new South Carolina office and be able to better serve our future and existing customers in Beaufort, Hampton and Jasper counties,” stated SBAC President Tony O’Reilly.
Ms. DeSimone, originally from Tennessee, brings over 13 years experience in the commercial lending/financing sector. She was previously employed by Carolina First Bank as the Vice President, Commercial Lending officer.
07.22.10
Brady Cannon joins the SBAC as Microfinance Business Associate
Brady Cannon has joined the Small Business Assistance Corporation (SBAC) as a new Microbusiness Finance Associate. Mr. Cannon will be responsible for production of small business loans throughout the lending process concentrating on the rural county areas of Evans, Tattnall, Toombs, Montgomery, Telfair, Jeff Davis and Coffee counties. He will also represent the SBAC in community outreach and participate in seminars to small business, banking institutions, Chambers of Commerce and technical collegiate institutions.
“We are thrilled to have Brady join the team. The SBAC’s goal is to reach and serve the rural counties in our district to the best of our ability. Brady is just the man to help us accomplish that goal,” stated SBAC President Tony O’Reilly.
A native Savannahian, Mr. Cannon completed two years as the Agricultural and Rural Business Development Consultant for the Peace Corps in Chisnau, Moldova. He holds a degree in economics from the University of Georgia, Terry College of Business.
07.22.10
Jessica Byck joins the SBAC as Microfinance Business Associate
Jessica Byck has joined the Small Business Assistance Corporation (SBAC) as a new Microbusiness Finance Associate. Ms. Byck will be responsible for production of small business loans throughout the lending process concentrating on the rural county areas of Bryan, Bulloch, Effingham and Liberty counties. She will also represent the SBAC in community outreach and participate in seminars to small business, banking institutions, Chambers of Commerce and technical collegiate institutions.
“Ms. Byck is a welcome addition to the SBAC team. Small business owners throughout our 53 counties will now be able to benefit from the face-to-face time with an SBAC representative,” stated SBAC President Tony O’Reilly.
Ms. Byck, a native Savannahian, is a recent graduate of the University of Georgia’s Terry College of Business. She continues to be active in the community and was a teaching volunteer for “Early Learning First”.
06.08.10
Mitul Patel joins the SBAC as Commercial Loan Processor & Packager
Mitul Patel has joined the Small Business Assistance Corporation (SBAC) as a new Commercial Loan Processor & Packager. Mr. Patel will be responsible for the review of financial packages and financial statement spreading for various loan programs. In addition, he will analyze the information and documents for presentation.
“Mitul is a welcome asset to the SBAC. His background and experience in the finance and management sectors will strengthen the SBAC team,” stated SBAC President Tony O’Reilly.
Mr. Patel, originally from Boston, has a background in finance and management. He was previously employed as an analyst for Jamsan Hotel Management, Inc. He and his wife now reside in Richmond Hill.
05.20.10
Cara Garland joins the SBAC as Loan Closing & Servicing Assistant
Cara Garland has joined the Small Business Assistance Corporation (SBAC) as a new Loan Closing & Servicing Assistant. Cara will be responsible for providing customer support for SBAC and SBA loan closing and post closing administration.
“We are excited to have Ms. Garland join the SBAC team. The SBAC is confident she will provide our customers with the five-star service the community expects from our organization,” stated SBAC President Tony O’Reilly.
Ms. Garland, originally from New York, brings over 6 years of experience in the finance sector. She and her family moved to Savannah 3 years ago and comes to the SBAC from First National Bank, Pooler where she worked in Loan Operations.
05.20.10
Mousourakis joins the SBAC as Communications/PR Associate
Mary Catherine Mousourakis has joined the Small Business Assistance Corporation (SBAC) as their new Communications/PR Associate. Mary Catherine will be responsible for implementing communications or marketing related projects, assist in coordinating events and will help to market the various programs offered by the SBAC.
“We are pleased to have Mary Catherine on board. Her extensive background and expertise in marketing will strengthen our presence in the business community,” stated SBAC President Tony O’Reilly.
Mary Catherine has over 12 years experience in marketing and communications. She was previously employed as Director of Marketing for The Landings Company on Skidaway Island and spent 6 years prior to that marketing for several developers across the southeast United States.
12.15.09
Area Lenders Help “Stuff the Stocking” for the Holidays
SBAC Loan Officers Stephen George, Wendy Jeffers and Debra Simmons present Natalie Leggette, Safe Shelter, Inc., with three stockings of donated items from the “Stuff the Stocking” Holiday Drive during the December Lenders League Networking Hour.
“We had a tremendous turn out for the drive,” stated Laura Blake, SBAC’s Loan Packager and founder of the Lenders League. “I want to thank all of the area businesses and members of Lenders League that made contributions to this worthwhile cause.”
Lenders League is organized by the SBAC and is a free networking group of local bankers and professionals who are looking to expand their business and make connections. The next Lenders League Networking Hour is slated for Wednesday, January 20th from 4:30pm to 6:00pm at B Matthews, 325 E. Bay Street, Savannah.