Wayne and vets

  • November 13, 2013
  • 397
                        
The U.S. Small Business Administration (SBA) announced today Wayne Savings Community Bank’s participation in the SBA Veteran Pledge Initiative, a commitment by its top national, regional and community lenders to collectively increase their lending activity to veterans by five percent per year for the next five years. Veterans often face challenges in raising capital or have trouble receiving a conventional loan. With the support of SBA’s top 20 national lending partners, and approximately 100 additional regional and community lending partners across the United States, including Wayne Savings Community Bank, SBA expects to assist an additional 2,000 veterans obtain loans to start or expand small businesses by increasing lending by $475 million over the next five years. This equals a five percent increase above historic veteran lending activity by the SBA. “Throughout our nation’s history our servicemen and women have made countless contributions to and sacrifices for our country, and supporting them as they pursue their dreams to start or grow their own business is one of SBA’s highest priorities,” stated SBA Cleveland District Director Gil Goldberg at today’s announcement ceremony. “Through this partnership with Wayne Savings Community Bank and national and regional lending partners, the SBA is steadfast in its support of veteran entrepreneurs with loan-guarantees, entrepreneurial training, and resources -- critical tools to help them start businesses, drive the local economy and create jobs for themselves and their communities.” “As a Vietnam era U.S. Army veteran I understand the sacrifice all military veterans made to serve our country, and we are deeply grateful for their dedication,” commented Rod Steiger, Chairman and CEO of Wayne Savings Community Bank. “ I am honored our bank has chosen to work with the SBA to help veterans pursue business opportunities through the Veteran Pledge Initiative. We will do all we can to increase our lending activity and help all servicemen and women who gave themselves in support of our freedom and liberty.” Veterans make up a large number of successful small business owners. Nine percent of small businesses are veteran-owned. These 2.45 million veteran-owned businesses employ more than 5 million individuals. In the private sector workforce, veterans are more likely than those with no active-duty military experience to be self-employed. SBA currently engages veterans through its 68 local SBA district offices, 15 Veterans Business Outreach Centers nationwide, and its partnership with 1,000 Small Business Development Centers and some 12,000 SCORE – Counselors to America’s Small Businesses volunteers. Each year SBA helps more than 200,000 veterans, service-disabled veterans and reservists. To learn more about additional opportunities for veterans available through the SBA, please visit the website at www.sba.gov/veterans .


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