Small business development center recognized as leader in Tennessee
Knoxville, Tenn. – March 20, 2014 – The U.S. Small Business Administration’s Tennessee District has recognized Pellissippi State Community College’s excellence to facilitate working capital through its Small Business Development Center. The federal agency presented the first “Eagle Award” for the highest number of clients assisted with SBA obtaining loans during 2013 in ceremonies held March 20 in Knoxville.
In 2013, the Pellissippi State Center directly assisted 8 clients who obtained a cumulative total of over $9.3 million in SBA loans. This was the highest number of clients assisted with SBA loans of the 14 regions within the Tennessee Small Business Development Centers network.
“Pellissippi State’s diligence in working with small business owners and East Tennessee lenders demonstrates that dollars are available to start or expand a small business,” said Walter Perry, District Director of SBA’s Tennessee District Office. “The Eagle Award represents superior dedication of the Pellissippi State staff collaborating with area banks and credit unions to identify working capital for their clients.”
The SBA guarantees small business loans and through a cooperative agreement with Pellissippi State, provides counseling and training to small business owners. A key component of this assistance is helping small business owners acquire capital through SBA-guaranteed loans made by area lenders.
“Pellissippi State’s Small Business Development Center has always been committed to helping businesses in our community to find the resources they need in order to be successful. This recognition by the Small Business Administration is an affirmation of that good work,” said L. Anthony Wise Jr., president of Pellissippi State Community College.
A wide variety of small businesses were provided funding, including a veterinarian, winery, restaurant, retail store, transportation services firm, research & development firm and a temporary services agency. Participating East Tennessee lenders assisting Pellissippi State clients included United Community Bank, Jefferson Federal Bank, UT Federal Credit Union, Fifth Third Bank, and Areawide Development Corporation. As reported by the small businesses receiving funding, a cumulative total of 21 jobs were created and 42 jobs retained as a result of the firms receiving SBA loans to finance their capital needs.
The Small Business Development Center serves the counties of Blount, Claiborne, Cocke, Jefferson, Knox, Sevier and Union in East Tennessee and provided over 1695 hours of small business counseling in 2013 and trained 1263 people in small business related subjects. Information on upcoming training and how to requested small business counseling is available at the Tennessee Small Business Development Centers statewide website at www.tsbdc.org.