[00:00:01]
LADIES AND GENTLEMEN, WELCOME TO TODAY'S PROGRAM,
[SCORE Houston (#04): “Empowering Small Business Dreams: Inside the SBA”]
SHINING A SPOTLIGHT ON THE BACKBONE OF OUR ECONOMY, SMALL BUSINESSES.OUR EPISODE TODAY IS ABOUT EMPOWERING SMALL BUSINESSES', DREAMS INSIDE THE SBA.
I'M YOUR HOST, JADA HARRIS, SCORE MENTOR AND PRESIDENT OF SCORES HOUSTON CHAPTER ESTABLISHED IN 1953.
THE SMALL BUSINESS ADMINISTRATION, ALSO KNOWN AS THE SBA, WAS ESTABLISHED TO SUPPORT THE NEEDS OF SMALL BUSINESSES IN THE UNITED STATES.
THE SBA ASSIST ENTREPRENEURS AT EVERY STAGE OF BUSINESS FROM CONCEPTION THROUGH GROWTH, NO MATTER WHERE YOU FIND YOURSELF IN YOUR BUSINESS JOURNEY.
THE SBA IS A RESOURCE ON THE FEDERAL LEVEL FOR ENTREPRENEURS AND SMALL BUSINESSES TO EMPOWER ENTREPRENEURS AND THE SMALL BUSINESS COMMUNITY.
THE SBA FACILITATES CONNECTIONS BETWEEN ORGANIZATIONS WITHIN THE SMALL BUSINESS ECOSYSTEM THROUGHOUT EVERY STAGE OF THE BUSINESS LIFECYCLE FROM INCEPTION TO GROWTH.
THE SBA OFFERS INVALUABLE SUPPORT AND GUIDANCE.
THE SBA ACCOMPLISHES PROVIDING GUIDANCE THROUGH THE THREE CS, COUNSELING, CAPITAL, AND CONTRACTING.
TODAY, WE'RE PRIVILEGED TO WELCOME THREE DISTINGUISHED EXPERTS, EACH SPECIALIZING IN ONE OF THESE VITAL AREAS.
WELCOME BACK TO TODAY'S EPISODE ENTITLED EMPOWERING SMALL BUSINESSES DREAMS INSIDE THE SBA.
NOW WE'LL BEGIN ON THE FIRST SEAT OF THE SBA COUNSELING.
THIS IS WHERE SMALL BUSINESSES FIND THE GUIDANCE THEY NEED TO THRIVE.
JOINING US TODAY IS A TRUE EXPERT IN THIS FIELD.
VALERIE, WELCOME TO TODAY'S SHOW.
THANK YOU SO MUCH FOR HAVING ME.
IT'S A PLEASURE TO BE HERE WITH YOU.
AND SO TO GET US STARTED, GIVE US A LITTLE BACKGROUND ABOUT YOURSELF.
HOW LONG HAVE YOU BEEN WITH THE SBA? SURE.
SO I HAVE BEEN WITH THE SBA SINCE 2007, SO 17 YEARS, WHICH IS CRAZY TO THINK ABOUT.
AND I'VE BEEN HERE WITH THE HOUSTON DISTRICT OFFICE FOR SEVEN YEARS.
PRIOR TO THAT, I WAS WORKING IN THE WASHINGTON DC AREA, MORE ON THE LENDING SIDE.
UM, BUT IN MY ROLE HERE IN HOUSTON, I'M THE LEAD ECONOMIC DEVELOPMENT SPECIALIST.
SO I'M WORKING WITH STAKEHOLDERS AND BUSINESS OWNERS THROUGHOUT OUR 32 COUNTIES THAT WE COVER IN SOUTHEAST TEXAS TO EDUCATE ABOUT SBA PROGRAMS AND SERVICES, ALL WITH THE MISSION TO HELP AMERICANS ACHIEVE THE DREAM OF SMALL BUSINESS OWNERSHIP.
AND HOW DO YOU GO ABOUT PROVIDING THEM WITH THE INFORMATION? DO YOU PROVIDE WORKSHOPS OR THERE WEBINARS, ALL OF THAT? SO WE DO WORKSHOPS, UM, WE DO PANELS, WE DO BUSINESS EXPOS, WHETHER THEY BE IN PERSON OR VIRTUAL.
AND WE REALLY, UH, TEAM UP WITH OUR PARTNER ORGANIZATIONS HERE IN THE HOUSTON AREA TO COLLABORATE ON EVENTS, ALL WITH THE GOAL OF HELPING EDUCATE, UH, BUSINESS OWNERS, WHETHER THEY'RE LOOKING TO START OR TO GROW, START AND TO GROW.
SO THE ASSISTANCE THAT YOU PROVIDE, UM, IS IT, UH, IDEAL FOR NEW AND STARTUP BUSINESSES, UH, AS WELL AS GROWTH? AND DO YOU PROVIDE ANYTHING AS IT RELATES TO DISASTER OR EXIT? YES.
SO WE HELP BUSINESSES AT ANY STAGE IN THEIR ENTREPRENEURIAL JOURNEY, WHETHER THEY JUST HAVE AN IDEA ON THE, ON A NAPKIN, WHETHER THEY'VE ALREADY STARTED, BUT MAYBE THEY'RE NOT GENERATING REVENUE, MAYBE THEY'RE DOING WELL, AND THEY'RE LOOKING FOR GROWTH STRATEGIES.
UM, SO WE HELP THE FULL LIFE CYCLE OF THE BUSINESS.
UM, AND ONE THING I WANNA TOUCH ON IS HOW DO WE HELP THESE SMALL BUSINESSES? SO WE REALLY CONNECT THEM WITH THE RESOURCES THAT CAN HELP THEM THE BEST.
UM, AND MAINLY THAT'S THROUGH OUR RESOURCE PARTNER NETWORK.
SO HERE LOCALLY WE HAVE, UH, RESOURCE PARTNER ORGANIZATIONS WHO ARE KIND OF OUR BOOTS ON THE GROUND TO ACTUALLY HELP BUSINESS OWNERS ONE-ON-ONE, UH, VIA COUNSELING AND ALSO WITH TRAINING, UH, VIA ON-DEMAND WEBINARS AND IN-PERSON WORKSHOPS.
AND THOSE ORGANIZATIONS ARE SCORE WHICH YOU REPRESENT.
UM, ALSO THE SMALL BUSINESS DEVELOPMENT CENTER.
WE HAVE TWO WOMEN'S BUSINESS CENTERS, THE WBEA WOMEN'S BUSINESS CENTER, AND THE GREATER HOUSTON WOMEN'S CHAMBER OF COMMERCE, WOMEN'S BUSINESS CENTER.
AND FOR ANY VETERANS LISTENING, WE HAVE THE VETERAN BUSINESS OUTREACH CENTER.
SO ALL THESE ORGANIZATIONS PROVIDE, UH, ONE-ON-ONE CONSULTING AND ADVISING AT NO CHARGE, AS WELL AS THE EDUCATIONAL WORKSHOPS, BOTH ON DEMAND AND IN PERSON.
SO JUST TO GIVE YOU AN EXAMPLE OF MORE SPECIFICALLY, WHAT THEY CAN HELP WITH.
UH, FOR EXAMPLE, MAYBE A BUSINESS OWNER NEEDS A BUSINESS PLAN, UM, EVERYONE'S PROBABLY GONNA NEED A BUSINESS PLAN, ESPECIALLY IF THEY'RE GONNA SEEK FUNDING.
UH, THEY CAN HELP WITH THAT FUNDING, UH, REQUEST, HELPING CONNECT TO LENDERS.
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MAYBE THEY NEED HELP WITH MARKETING.UM, YOU KNOW, WITH GROWTH, UM, THE FULL GAMUT OF WHAT THEIR BUSINESS NEEDS.
THESE ADVISORS ARE AVAILABLE TO THEM AGAIN, AT NO CHARGE.
AND, AND, AND AMAZING FOR ME, UM, AS AN ENTREPRENEUR.
AND SO THESE WEBINARS AND, UH, ESPECIALLY THE IN-PERSON EVENTS, UH, ARE THEY, UH, THROUGHOUT THE ENTIRE AREA OF THE HOUSTON, UH, AREA? OR IS IT, UH, CAN WE GO BEYOND HOUSTON? YEAH, SO THESE ORGANIZATIONS THAT I'VE MENTIONED ARE NATIONWIDE.
UH, SO YOU CAN ACTUALLY TAP INTO THESE BUSINESS ADVISORS AND TRAINING OPPORTUNITIES FROM OUTSIDE OF HOUSTON, ESPECIALLY, YOU KNOW, LIVING IN THE VIRTUAL WORLD POST COVID, THERE'S A LOT OF VIRTUAL OPPORTUNITIES FOR LEARNING.
UH, SO YOU DON'T HAVE TO LIMIT YOURSELF TO JUST WHAT'S GOING ON HERE IN HOUSTON, BUT THAT NETWORK OF RESOURCE PARTNERS IS AVAILABLE NATIONWIDE.
ESPECIALLY IF I'M TRYING, TRYING TO START SOMETHING NEW THAT IS GOING REAL REALLY WELL IN A DIFFERENT AREA OF THE COUNTRY AND BRINGING IT HERE TO HOUSTON, I CAN CONNECT WITH, UH, THE SBA AND SCORE, UH, TO EXPLORE THOSE OPPORTUNITIES.
NOW, THE TERM SMALL BUSINESS IS THROWN AROUND VERY FREQUENTLY.
UH, HOW DO I KNOW IF I'M A SMALL BUSINESS? WOW.
IT'S A STAGGERING STATISTIC THAT YOU MAY NOT REALIZE, BUT OVER 99.5% OF THE BUSINESSES IN THE HOUSTON DISTRICT ARE CONSIDERED SMALL BY SBA STANDARDS.
SO CHANCES ARE YOU FIT INTO OUR, UH, SIZE STANDARDS.
IF YOU'RE CURIOUS, YOU CAN GO SBA.GOV/SIZE STANDARDS AND ACTUALLY LOOK UP HOW YOU ARE MEASURED.
UH, YOU NEED TO KNOW YOUR INDUSTRY CODE OR NS CODE.
UH, YOU CAN GO ONTO THAT SIZE STANDARDS TOOL ON THE SBA WEBSITE, PUT IN YOUR NS CODE, AND IT'LL TELL YOU HOW YOU'RE MEASURED, WHICH WILL DEPENDENT UPON YOUR INDUSTRY BE MEASURED BY EITHER YOUR NUMBER OF EMPLOYEES OR YOUR ANNUAL REVENUES.
JUST TO GIVE YOU AN EXAMPLE, YOU COULD BE A MANUFACTURING FIRM WITH UP TO 1500 EMPLOYEES AND STILL BE CONSIDERED SMALL.
SO, ALTHOUGH WE'RE THE SMALL BUSINESS ADMINISTRATION, WE HELP, UM, YOU KNOW, WHAT ARE CONSIDERED LARGER BUSINESSES AS WELL.
WELL, YOU MENTIONED BUSINESS RESEARCH.
DO YOU, DOES THE SBA HELP WITH BUSINESS RESEARCH? SO IT'S IMPORTANT, ESPECIALLY THOSE BUSINESSES, UM, YOU KNOW, THAT ARE LOOKING, YOU KNOW, WHAT KIND OF INDUSTRY SHOULD I GET INTO? YOU KNOW, WHERE'S MY COMPETITION? THE SBDC ACTUALLY IS A GREAT RESOURCE FOR MARKET RESEARCH.
BUSINESS ADVISORS WITHIN SBDC HAVE, UM, ACCESS TO TOOLS AND DATABASES THAT YOU AS A BUSINESS OWNER COULD DO YOURSELF, BUT IT'S GONNA BE TIMELY AND IT'S GONNA BE COSTLY.
AND AGAIN, THIS IS A SERVICE THAT'S OFFERED AT NO CHARGE.
SO THE SBDC DEPENDENT UPON YOUR NEEDS, AND YOU KNOW WHAT EXACTLY YOU'RE LOOKING FOR THAT RESEARCH, RESEARCH FOR, THEY CAN PULL CUSTOMIZED REPORTS, UH, FOR BUSINESS OWNERS OR THOSE LOOKING TO START A BUSINESS AGAIN AT NO CHARGE.
AND THAT'S SO NECESSARY WHEN STARTING A BUSINESS, ESPECIALLY IN THE HOUSTON MARKET.
UH, WE ARE THE NUMBER ONE, UH, PORT, UH, IN THE UNITED STATES, WHICH ALLOWS US TO RECEIVE A LOT OF BUSINESS, NOT JUST HERE IN HOUSTON, IN AND THE UNITED STATES, BUT AROUND THE WORLD.
AND LASTLY, VALERIE, UH, HOW DO WE STAY IN CONTACT WITH THE SBA? YEAH, SO ABSOLUTELY.
IF YOU HAVE NOT VISITED OUR SBA WEBSITE, I ENCOURAGE YOU TO DO SO.
UH, WELL, ONE, YOU CAN GO TO SBA.GOV, BUT ALSO SPECIFICALLY TO OUR HOUSTON DISTRICT OFFICE WEBSITE, SBA.GOV/TX/HOUSTON, YOU CAN SEE OUR CALENDAR OF EVENTS AND ALL THE THINGS THAT WE'RE DOING AND AROUND THE COMMUNITY.
UH, YOU CAN SIGN UP FOR OUR EMAIL UPDATES.
THAT'S PROBABLY THE BEST WAY TO STAY CONNECTED BECAUSE YOU'LL GET A WEEKLY E-BLASTS OF WHERE WE'RE GONNA BE, WHAT WE'RE GONNA BE TALKING ABOUT, WHICH IS REALLY, UH, A DEEPER DIVE INTO ALL OF OUR MAIN PROGRAMS. MM-HMM
UH, WE'RE ALSO DOING EVENTS THAT CONNECT, UH, BUSINESS OWNERS WITH OUR RESOURCE PARTNERS.
SO YOU CAN COME OUT AND MEET SCORE MENTORS, SBDC ADVISORS, OUR WOMEN'S BUSINESS CENTERS, OUR BOC, UM, ALSO CONNECT WITH SBA LENDERS FOR THOSE SEEKING FINANCING.
SO LOOK AT THAT CALENDAR OF EVENTS, SIGN UP FOR OUR EMAIL UPDATES.
AND IF YOU'RE ON SOCIAL MEDIA, YOU CAN FOLLOW THE SBA HOUSTON DISTRICT OFFICE ON X AND ALSO ON LINKEDIN MM-HMM
AND OF COURSE, YOU CAN ALWAYS REACH OUT DIRECTLY TO OUR HOUSTON OFFICE, HOUSTON@SBA.GOV.
UH, WE WANNA HELP OUR BUSINESS OWNERS, OUR LOCAL COMMUNITY THRIVE.
UM, AND SO THOSE ARE THE BEST WAYS TO STAY CONNECTED.
I REALLY APPRECIATE THAT AND APPRECIATE YOUR FEEDBACK TODAY, AS WELL AS, UH, THE INFORMATION THAT YOU PROVIDED.
BEING THE FOURTH LARGEST CITY IN THE UNITED STATES, UH, IT MAKES US AN, UH, UH, AMAZING ECOSYSTEM FOR ANY SMALL BUSINESS ALL OVER THE UNITED STATES AS WELL AS THE WORLD.
WE'RE GOING TO TAKE A SHORT BREAK NOW, BUT DON'T GO ANYWHERE.
WHEN WE COME BACK, WE WILL DISCUSS THE SECOND SEED OF THE SBA MISSION.
[00:10:12]
IN HOUSTON, WE MAKE TOMORROW TOGETHER, BUT FIRST, WE MAKE DINNER TOGETHER.WE MIX INGREDIENTS AND CULTURES.
WE CREATE EXCITEMENT THAT YOU CAN TASTE AND EXPERIENCES TO SAVOR.
WE COULD START BY TELLING YOU HOW SLEEK IT IS, HOW IT'S AT THE EDGE OF INNOVATION IN ITS INDUSTRY, THAT IT MAKES CONNECTIONS FASTER AND MORE CONVENIENT.
WE COULD PROMOTE THE FACT THAT EVEN TRAFFIC SIGNALS GIVE IT THE GREEN LIGHT AND THAT IT MOVES SO QUICKLY.
WE HAD TO GIVE IT ITS OWN LANE.
OR YOU COULD JUST RIDE, DISCOVER WHERE THIS RAIL LIKE RIDE IS GOING NEXT.
NEXT, YOU'RE A LOCAL, YOU'RE ONE OF US, AND WE WANT TO GIVE YOU A RICHER, MORE EXCITING EXPERIENCE.
WE'LL SHARE THE FOOD THAT WOWED NATIONAL COOKING SHOWS AND TAKE YOU TO THE ATTRACTIONS THAT PUT US IN TRAVEL AND LEISURE'S TOP 50 PLACES TO VISIT IN 2023.
AND THEN WE'LL TAKE YOU OUT TO A BALL GAME TO SEE OUR WORLD SERIES CHAMPS.
WE ARE A CITY OF COLLABORATORS WHO BUILD ON ONE ANOTHER'S INSPIRATION, STRENGTHS, AND CULTURES TO SHAPE A FUTURE WE ALL CAN SHARE.
TOGETHER, WE ARE MORE THAN 7 MILLION INGREDIENTS THAT MAKE SOMETHING THAT CAN BE DISCOVERED, TASTED, OR INVENTED ANYWHERE ELSE.
COME ON, A MOVEMENT, A MOMENT, A FUTURE.
WE CANNOT WAIT TO MAKE TOMORROW TOGETHER.
SAM HOUSTON PARK IS PICTURESQUE WITH WADDLING DUCKS AND NINE FROZEN IN TIME HISTORIC BUILDINGS.
NOW LET'S CONTINUE OUR DISCUSSION ABOUT THE SVA.
UNDERSTANDING THE THREE CS IN SVA IS CRUCIAL, ESPECIALLY WHEN THERE ARE MANY ASPIRING SMALL BUSINESS ENTREPRENEURS WHO DON'T KNOW WHERE TO START.
ONE COMMON QUESTION WHEN STARTING A BUSINESS IS ABOUT CAPITAL.
TO DISCUSS THIS, LET ME INTRODUCE MR. WINSTON LABE, THE NEW DEPUTY DIRECTOR OF SBA HOUSTON, AND THE EXPERT IN LENDER RELATIONS.
HOW ARE YOU, JADA? UM, I'M DOING WELL.
HOW LONG HAVE YOU BEEN WITH THE SBA? ACTUALLY, FOUR YEARS THIS PAST.
UM, MAY, MAY THE 11TH, MAY FOUR YEARS PRIOR TO THAT, I WAS A COMMERCIAL LENDER, UH, FOR 25 YEARS HERE IN HOUSTON, AND ALSO A CHIEF LENDING OFFICER AT A SMALL COMMUNITY BANK.
UH, SO HAVE, UH, SEVERAL YEARS OF, OF COMMERCIAL LENDING EXPERIENCE, BUT IT WAS A GREAT OPPORTUNITY TO JOIN THE SBA TEAM, UH, BACK IN MAY, 2020.
AND THAT JUST MAKES IT EVEN STRONGER INFORMATION THAT YOU CAN PROVIDE TO OUR ENTREPRENEURS AND SMALL BUSINESSES AS IT RELATES TO LENDING, BECAUSE YOU'VE BEEN IN THE, THE TRENCHES, YOU KNOW, HELPING SMALL BUSINESSES GET THE LENDING THEY NEED TO START THEIR BUSINESS.
UH, IT IS EXCITING TO BE ABLE TO BRING IN THE BOTH WORLDS, THE LENDING, LENDING PERSPECTIVE, AND THEN WORKING WITH SMALL BUSINESSES.
UH, WHEN I JOINED THE SBA, I JOINED THE ECONOMIC DEVELOPMENT TEAM WITH VALERIE MA MM-HMM
SO, UH, SHE TAUGHT ME A LOT ABOUT OUTREACH AND, AND TRAINING, IF YOU WILL.
AND THEN I MOVED OVER TO THE LINDA RELATIONS TEAM WHERE I WAS WORKING DIRECTLY WITH LINDA.
SO AS I TELL MY, MY, UH, FORMER PEERS IN LENDING, IT'S THE BEST WORLD TO BE HERE.
AND YOUR NEWEST POSITION AS DEPUTY DIRECTOR JUST CAME, UH, IN THE LAST COUPLE OF MONTHS, AND WE'RE EXCITED ABOUT WHAT, UH, IS GOING TO COME WITH NOT ONLY YOU BEING THE NEW DEPUTY DIRECTOR, DIRECTOR, BUT ALSO, UH, OUR DIRECTOR, MR. MARK WINCHESTER.
UH, YEAH, IT HAPPENED A FEW WEEKS AGO, ACTUALLY.
UH, SO I'M STILL GETTING, UH, USED TO THAT, THAT TITLE.
UH, PEOPLE INTRODUCE ME AND THEY SAY, DEPUTY DIRECTOR, I LOOK AROUND THE ROOM FOR SOMEONE ELSE, BUT, UH, BUT NO, I'M EXCITED.
AND SO LET'S KIND OF TALK ABOUT WHAT'S GOING ON IN THE SMALL BUSINESS WORLD AND ENTREPRENEURS NEEDING LENDING MM-HMM
HOW DO YOU GO ABOUT GETTING AN SBA LOAN? AND I SAY THAT VERY LOOSELY
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MM-HMMBECAUSE THE SBA DOES NOT GIVE LOANS, AM I CORRECT? THAT IS CORRECT.
UH, THE SBA DOES NOT LOAN DIRECTLY UNLESS IT'S A DISASTER LOAN.
AND WE HAVE THE DISASTER OFFICE THAT HANDLES THAT.
UH, SO THE, UH, SMALL BUSINESS OWNER, UH, WE ENCOURAGE THEM AND SUGGEST THAT THEY REACH OUT DIRECTLY TO A LENDER.
UH, WE ACTUALLY SAY TO THEM, LOOK, YOU SHOULD START WITH YOUR ORGANIZATION, YOUR BANK OR YOUR CREDIT UNION, WHEREVER YOUR MONEY IS, YOUR DEPOSITS MM-HMM
AND THEN FIND OUT IF THEY DO SBA LENDING, AND THEN IF NOT, THEN THEY CAN REACH OUT TO YOU GUYS AT SCORE ONE OF THE PARTNERS FOR GUIDANCE ON THE LENDERS THAT SPECIALIZE IN THEIR SPECIFIC INDUSTRIES.
AND RELATIONSHIP IS KEY IN BUSINESS IN GENERAL.
UH, BUT WHEN YOU DEVELOP THE RELATIONSHIP WITH YOUR BANK, IT GETS, UH, THE OP GIVES THE OPPORTUNITY FOR THE BANK TO CHAMPION FOR THE SMALL BUSINESS SO THAT THEY CAN HAVE A BETTER OPPORTUNITY OF GETTING A LOAN.
UM, AND THEN THE SBA GUARANTEES IT.
THE, UH, RELATIONSHIPS ARE VERY, VERY IMPORTANT.
I SPEAK TO THAT EVERY DAY WHEN I'M OUT IN THE COMMUNITY TALKING TO SMALL BUSINESSES ON PANELS, IF YOU WILL, UH, AND OTHER EVENTS THAT, UH, MY COLLEAGUE VALERIE MAR MAY HAVE MENTIONED.
UH, WE TALK ABOUT RELATIONSHIP BUILDING, AND I REMEMBER ONCE I WAS IN, UH, ACRES HOME ACTUALLY, AND I WAS DOING A PRESENTATION AND I TALKED ABOUT RELATIONSHIPS, AND SOMEONE SAID, WHY ARE RELATIONSHIP SO IMPORTANT? I DON'T GET IT.
UH, BUT I TOLD THEM, YOU SAID IT, CHAMPION, UH, YOU KNOW, YOU DEVELOP THAT RELATIONSHIP WITH THE BANKER, WITH THE LENDER BUSINESS RELATIONSHIP, RIGHT? MM-HMM
THEN, YOU KNOW, YOU APPLY FOR A LOAN, THEY'RE GONNA TRY TO WORK AND GET THAT DEAL DONE FOR YOU BECAUSE THEY UNDERSTAND THE BUSINESS.
YOU'VE HAD CONVERSATIONS WITH THEM MM-HMM
AND SO THEY'RE ABLE TO ARTICULATE THAT, UH, TO THE LOAN COMMITTEE OR TO A BOARD BOARD COMMITTEE.
SO YES, RELATIONSHIPS ARE VERY, VERY IMPORTANT.
I, I, I'VE ATTENDED A COUPLE OF YOUR WORKSHOPS IN THE PAST ABOUT LENDING MM-HMM
AND, UH, I DIDN'T YOU SHED SOME LIGHT ON THE ROLE OF THE BANKER FOR, UH, ENTREPRENEURS IN SMALL BUSINESSES, AS WE JUST STATED, THAT, THAT THEY CHAMPION BECAUSE THERE'S A SECOND LEVEL MM-HMM
YOU KNOW, PROVIDING THE, THE DECISION.
IT'S THE, UM, I FORGET WHAT IT COULD BE A COMMITTEE.
CHIEF LENDING OFFICER, LIKE I WAS OKAY.
SO A LOT OF TIMES THE PERSON THAT THE SMALL BUSINESS OWNER IS SPEAKING WITH IS A BUSINESS DEVELOPMENT OFFICER, RIGHT? MM-HMM
AND SO NOT TO MINIMIZE THEIR ROLE, RIGHT.
BUT THEY, THEY GATHER THE INFORMATION, MAKE SURE THEY HAVE A COMPLETE PACKAGE, AND THEN THEY TAKE IT IN TO EITHER A LOAN COMMITTEE OR A CENTRALIZED UNDERWRITING DEPARTMENT.
SO THAT MEANS THAT THE PEOPLE THAT MAKE THE DECISIONS NEVER SEE YOU, THE BORROWER.
SO IT'S SO IMPORTANT TO HAVE THAT RELATIONSHIP SO THAT THAT PERSON IS ARTICULATING, UH, THE INFORMATION ON YOUR, ON YOUR BEHALF.
SO AS IT RELATES TO CREDIT SCORES MM-HMM
UH, DOES THE SBA HELP IN DEVELOPING THE CREDIT SCORE? IS IT, YOU KNOW, HOW DETRIMENTAL IS THE PERSONAL CREDIT SCORE VERSUS THE BUSINESS CREDIT SCORE? SO WHEN IT COMES TO THE PERSONAL CREDIT SCORE, NOW, THE SBA, WE DON'T GIVE GUIDANCE AS FAR AS HELPING THEM RESTORE THEIR CREDIT.
BUT WE DO RECOMMEND THEY GO TO A SCORE OR ONE OF THE RESOURCE PARTNERS FOR TECHNICAL ASSISTANCE MM-HMM
AND THEN THERE ARE TWO LENDERS, MICRO LENDERS IN HOUSTON.
UH, PEOPLE FUND AND LIFT FUND, IF I COULD MENTION THEIR NAMES MM-HMM
UH, THEY PROVIDE TECHNICAL ASSISTANCE AS WELL, BUT THE PERSONAL CREDIT IS MOST IMPORTANT.
A LOT OF LENDERS, UH, PROBABLY MOST LENDERS DON'T REALLY BASE A DECISION ON YOUR BUSINESS CREDIT SCORE.
THEY'RE BASING A DECISION ON YOUR PERSONAL CREDIT SCORE.
NOW, THERE ARE TIMES THEY WILL PULL YOUR BUSINESS CREDIT TO SEE WHAT TRADES YOU HAVE OUT THERE TO SEE IF YOU HAVE ANY JUDGEMENTS AGAINST THOSE, YOU KNOW, FROM THOSE, UH, ORGANIZATIONS.
BECAUSE A LOT OF PEOPLE THINK, OKAY, AND I CAN START OVER IF I JUST START A BUSINESS.
BUT YOUR PERSONAL CREDIT CREDIT IS, IT NEEDS, UH, IF IT NEEDS WORK, UH, YOU NEED TO WORK ON IT THAT'S CORRECT.
BEFORE YOU CAN MOVE WITH YOUR BUSINESS.
THAT'S SUCH VALUABLE INFORMATION FOR ANY SMALL BUSINESS MM-HMM
IN ORDER FOR THEM TO MAKE SURE THAT THEIR PERSONAL CREDIT IS IN ORDER SO THAT IT'LL LEND TO THEIR BUSINESS.
UH, AS A MATTER OF FACT, SOME OF THE, UH, LENDING OPPORTUNITIES THAT ARE IN HOUSTON ARE WIDESPREAD, AND HOW SCORE IS HELPING WITH THAT IS THAT WE'RE HAVING OUR 60TH ANNIVERSARY PITCH COMPETITION.
AND SO PARTICIPANTS HAVE THE OPPORTUNITY TO WIN 20,000, 10,000 AND 5,000.
SO, UH, THAT IS AN OPPORTUNITY IF, IF YOU'RE WAITING ON THAT BANK LOAN, UM, TO GET YOUR BUSINESS PLAN AND INFORMATION TOGETHER THROUGH SCORE SO THAT YOU CAN PITCH.
AND THAT'S COMING UP OCTOBER 3RD.
UH, AND IT'S GONNA BE HELD AT HCCA LEAF HAYES.
THANK YOU, WINSTON, FOR OUR NEXT SEGMENT.
AND FOR THE FINAL C OF THE THREE CS OF SBA, WE WILL BE DISCUSSING, CONTRACTING WITH MR. MIGUEL EZ, THE GO-TO PERSON FOR ANY QUESTIONS ABOUT CONTRACTING.
SO STAY TUNED AS WE GO DEEPER INTO THE TOPIC IN THE UPCOMING SEGMENT AFTER OUR SHORT BREAK.
[00:20:02]
AT METRO, YOUR SAFETY IS JOB ONE EVERY DAY, AND WE'RE COMMITTED TO MAKING YOUR RIDE EVEN SAFER WITH SECURITY CAMERAS ON OUR TRANSIT VEHICLES AND LIVE MONITORS ON MANY OF OUR BUSES.BLUE LIGHT CALL BOXES AT OUR BUS AND RAIL FACILITIES, METRO POLICE PROVIDING PEACE OF MIND AND MPD CONNECT THE APP THAT LETS YOU REPORT SUSPICIOUS ACTIVITY INSTANTLY TO METRO POLICE.
METRO IS BUILDING A SAFER TRANSIT SYSTEM SO YOU CAN DRIVE LESS AND DO MORE.
HOUSTON FIRST CORPORATION INTRODUCES A NEW CULTURAL CENTER IN DOWNTOWN HOUSTON.
LYNN WYATT SQUARE, IN THE HOUSTON THEATER DISTRICT WITH OAK TREES, WATER FEATURES, AND PROGRAMMING.
ECO SMART, WHEN YOUR GOAL IS TO SAVE TIME AND MONEY.
BOOK ONLINE WITH ECO PARK AND ECO PARK TWO.
NOW, THAT'S A SMART GAME PLAN.
TRAVEL SMARTER PARK, SMARTER ECOPARK, AND ECO PARK.
YOU'RE LOCAL, YOU'RE ONE OF US, AND WE WANT TO GIVE YOU A RICHER, MORE EXCITING EXPERIENCE.
YOU COULD EAT EVERY NIGHT OF THE WEEK IN HOUSTON, AND ONLY SCRATCH THE SURFACE OF ALL THE DIFFERENT TYPES OF CUISINES THAT WE HAVE HERE.
THE BEST WAY TO TAKE IT IS THIS NEIGHBORHOOD AT A TIME.
EACH NEIGHBORHOOD HAS ITS OWN SPECIALTY, AND THERE'S JUST SO MUCH TO LEARN.
IT'S ONE OF THE BEST THINGS ABOUT FOOD IS THAT YOU CAN NEVER LEARN AT ALL.
AS PROMISED, WE HAVE ANOTHER SPECIAL GUEST EXPERT JOINING US TODAY, MR. MIGUEL REESE FROM THE SMALL BUSINESS ADMINISTRATION'S GOVERNMENT CONTRACTING AND BUSINESS DEVELOPMENT PROGRAMS TO SHED LIGHT ON THE TOPIC OF CONTRACTING.
MIGUEL WILL BRING A WEALTH OF KNOWLEDGE AND EXPERIENCE IN THIS FIELD, AND WE'RE EXCITED TO DIVE INTO THIS IMPORTANT SUBJECT WITH HIM.
SO I UNDERSTAND THAT YOU'RE A VETERAN, IS THAT RIGHT? NO.
BUT YOU HAVE, YOU'RE FROM THE VETERAN.
YOUR FAMILY IS FROM A VETERAN COMMUNITY, IS THAT RIGHT? THAT IS CORRECT.
SO I KNOW YOU HAVE A HEART FOR OUR VETERAN ENTREPRENEURS AND SMALL BUSINESSES.
SO HOW LONG HAVE YOU BEEN WITH THE SBA? WOW.
I'M SECOND GENERATION, SO IT'S ONE OF THOSE THINGS WHERE I DON'T KNOW ANY BETTER, BUT 32 YEARS OFFICIALLY COME FROM SEPTEMBER.
UH, AND THEN THE LAST 20 YEARS HAVE BEEN OVERSEEING THE GOVERNMENT CONTRACTING WOW.
WITH STINTS OF OVERSEEING THE LENDING PROGRAMS TWICE DURING THAT TIME.
AND THAT'S HERE IN HOUSTON OR IN DIFFERENT AREAS, OR? I STARTED OUT IN DISASTER OKAY.
FOR HURRICANE ANDREW, AND THEN TRANSFERRED TO THE HOUSTON OFFICE IN MARCH OF 93.
I THINK MY DAUGHTER IS 30, SO NINE, SHE SAID IT'S, UH, 31 YEARS.
SO AS IT RELATES TO CONTRACTING WITH THE GOVERNMENT, YOU'RE, YOU'RE AT THE FEDERAL LEVEL, RIGHT? RIGHT.
BUT IN YOUR POSITION, YOU HELP BUSINESSES AT EVERY LEVEL.
IS THAT, IS THAT CORRECT? CORRECT.
SO AT THE FEDERAL LEVEL, IT, IT'S VERY IMPORTANT THAT, UH, BUSINESSES BE ABLE TO FULFILL WHAT CONGRESS AND REGULATIONS CALL FORWARD TO GET DONE.
WHAT WE'RE LOOKING FOR CONTRACTING OFFICERS IS FOR SOMEONE TO PROVIDE A QUALITY PRODUCT OR SERVICE DELIVERED ON TIME AND AT A COMPETITIVE PRICE.
THAT'S HOW THEY KEEP THEIR JOB.
AND HOW THEY'RE ABLE TO DO THAT IS A WIDE GAMUT.
SO IT BEHOOVES US TO ENCOURAGE AND HELP FOSTER THE SMALL BUSINESSES TO BE ABLE TO DO NOT ONLY FEDERAL, BUT ALSO STATE AND LOCALS.
A LOT OF TIMES THAT'S HOW YOU START AND YOU GROW TOWARDS IT.
BECAUSE THE FEDERAL SIDE, FEDERAL GOVERNMENT, BECAUSE OF IT'S SO WIDE AND ENCOMPASSING, IS ABOUT SCOPE AND SCALE.
SCOPE IS HOW MUCH YOU CAN DO AND SCALE IS HOW DEEP YOU CAN DO EACH THING THAT YOU DO.
SO AS YOU GO UP THE CHAIN, THE MORE SCOPE AND SCALE IT BECOMES APPARENT TO YOU.
SO PERFORMANCE COMES VERY IMPORTANT TO YOU.
AND REMEMBER, IT IS OUR TAX DOLLARS AT WORK.
SO, YOU KNOW, WE'RE JUST NOT GONNA GIVE IT TO SOMEBODY WHO'S NEVER DONE IT BEFORE.
IF SOMEBODY HAS THAT, IT, THEY GOT LUCKY.
BECAUSE FOR THE MOST PART, CONTRACTING OFFICERS, AGAIN, THEY HAVE ONLY THREE THINGS THEY HAVE TO DO.
THEY'RE GONNA FIND THAT H AND EVERY TIME MM-HMM
AND SO ASPIRATIONS OF DOING BUSINESS WITH THE FEDERAL GOVERNMENT, LIKE YOU SAID, IF THEY GET A CONTRACT FIRST, FIRST TIME, THAT'S PRETTY, YOU KNOW, IT'S TIME TO CELEBRATE.
UH, BUT STARTING OUT AT LOWER LEVELS SUCH AS THE CITY AND, UH, THE STATE, MUNICIPALITY, SCHOOL DISTRICTS, THAT'S HELPFUL
[00:25:01]
TO LEARN THE PROCESS OF CONTRACTING GOVERNMENT CONTRACTORS.AND IN OUR SECTION, IT IS, REMEMBER, IT'S GOVERNMENT CONTRACTING AND BUSINESS DEVELOPMENT, BECAUSE IT REALLY, WE WE'RE TRYING TO DO THAT HOLISTIC APPROACH TO WHERE YOU, WHEN YOU GET DONE WITH USING OUR PROGRAMS, YOU'RE BETTER OFF MM-HMM
AND ONE OF THE KEY ACUMENS OF BUSINESS IS DIVERSIFYING WHATEVER YOU DO.
SO YOU DON'T WANT TO JUST DO ALL EXTENSIVELY, ALL GOVERNMENT.
AT SOME POINT YOU WANNA BRING IN THE PRIVATE SECTOR BECAUSE YOU'LL FIND MORE OPPORTUNITIES AT THE PRIVATE SECTOR.
GOVERNMENT, YOU MAY OR MAY NOT DO THAT.
I USE AN EXAMPLE, UH, THAT REMEMBER THE SPACE SHUTTLE PROGRAM WAS, UH, ENDING YES.
AND THEN THEY CANCELED THE NEXT PROGRAM MM-HMM
AND WE HAD A BUNCH OF BODY BLOWS HERE AT THE, IN THE NASA JOHNSON SPACE CENTER AREA.
PEOPLE LOSING THEIR JOBS BECAUSE THEY WERE ALL VESTED INTO THE FEDERAL SECTOR.
IF THEY WOULD'VE BEEN MORE DIVERSIFIED, MAYBE THE OUTCOME WOULDN'T HAVE BEEN AS SEVERE MM-HMM
UH, WE WANT THE BUSINESSES TO, UH, DO WELL MM-HMM
AND, BUT WE DON'T WANT THEM TO GET EXTREMELY FRUSTRATED AND LEAVE.
YOU KNOW, THEY, THEY WE'RE HERE FOR A REASON.
WE'RE HERE TO CULTIVATE IN THESE SMALL BUSINESSES FROM START TO FINISH.
AND WHEN YOU SAY DIVERSIFY, YOU'RE SAYING B2C, B2B, B TWO G.
AND, AND I LIKE TO ADD A BUSINESS TO GLOBAL AT THIS POINT, BECAUSE WE ARE A GLOBAL COMMUNITY NOW, AND THAT'S ADVANCED THINKING FOR THE CONTRACTING SIDE BECAUSE THERE'S A LOT OF THINGS THAT WE DO THAT YOU CAN TAKE ABROAD, AND THAT'S WHERE REALLY GOOD MARGINS CAN BE MADE.
UH, LOTS OF MONEY CAN BE MADE IN THE INTERNATIONAL SECTOR.
UH, BUT AGAIN, IT'S ONE OF THOSE NUANCES WHERE YOU HAVE TO LEARN SOME FUNDAMENTALS YES.
AND YOU CAN REALLY THRIVE IN IT.
SO MANY, UM, INDIVIDUALS THAT COME TO ME THROUGH SCORE AND WANT TO LEARN MORE ABOUT CONTRACTING, UH, JUST STARTED THEIR BUSINESS TWO MONTHS AGO AND THEY SAID, I WANT A FEDERAL CONTRACT AND I HAVE TO BRING THEM BACK DOWN TO
I ALSO PROVIDE THEM WITH THE INSTRUCTION OF, UH, USING THE, A, A FEDERAL CONTRACT THAT MAY BE EXISTING OR COMING SOON, OR MAYBE EVEN HISTORIC, TO USE IT AS A GUIDE IN BUILDING THEIR BUSINESS, UH, INFRASTRUCTURE.
SO, UH, MY QUESTION TO YOU IS, WHAT RESOURCE PARTNERS, UH, DO YOU UTILIZE, UH, WHEN, WHEN YOU'RE HELPING WITH GOVERNMENT CONTRACTING? SO THE GOVERNMENT CONTRACT, DEPENDING ON WHICH LEVEL OF GOVERNMENT EACH, EACH OF THE LEVELS, THE ENTITIES WILL HAVE A, A CONTRACTING OR PROCUREMENT SECTION.
AND MANY OF THEM HAVE A SMALL BUSINESS INITIATIVE BECAUSE THEY NORMALLY HAVE FEDERAL CONTRACTS THAT THEY HAVE TO, TO, TO FULFILL.
SO IS THREE DIFFERENT LEVELS OF GO OF GOVERNMENT.
THERE'S DIFFERENT NUANCES, DIFFERENT REGULATIONS.
UH, SO IS THERE ANYBODY THAT CAN HELP YOU OUT? OF COURSE.
UH, CONGRESS CREATED THE APEX.
UH, IT'S ACTUALLY THE PROCUREMENT TECHNICAL ASSISTANCE PROGRAM.
THEY'VE REBRANDED BECAUSE THEY RAISED THE LEVEL OF THE PROGRAM FROM WHERE IT WAS TO THE SECRETARY OF DEFENSE, WHICH IS THE CABINET MEMBER.
SO THE APEX ACCELERATORS IS A NETWORK ACROSS THE COUNTRY.
WE HAVE AND HAVE A FANTASTIC ONE HERE THROUGH OUR PARTNERSHIP WITH THE UNIVERSITY OF HOUSTON.
AND THE APEX IS THE ONLY ENTITY.
YOUR TAX DOLLARS GO TO PAY FOR THEM.
AND THEY SWIM IN ALL THE GOVERNMENT WATERS.
SO THEY BECOME VERY INFLUENTIAL.
YOU KNOW, HERE'S THE ADVICE THAT THEY'RE TRIED AND TRUE METHODOLOGIES.
THEY MAKE SURE YOUR COMPLIANCE AND COMPLIANCE IS THE BIGGEST THING ABOUT GOVERNMENT CONTRACTING.
BECAUSE IF YOU DON'T DO WHAT WE WANTED, WHEN WE WANTED, HOW WE WANTED, YOU'RE NOT IN CONSIDERATION.
AND ONCE YOU HAVE THAT OUT, OUT OF THE BAG, THAT YOU DON'T DO THAT.
IT'S HARD TO CONVINCE 'EM OTHERWISE.
AS MENTIONED WITH, UH, WITH THE PREVIOUS SEGMENT, RELATIONSHIP IS KEY.
AND BUILDING THE RELATIONSHIP WITH THE GOVERNMENT, IF YOU CAN'T DELIVER THAT SOURS YOUR RELATIONSHIP WITH, UH, THE, THE GOVERNMENT AND MOVING FORWARD IN, IN ACQUIRING CONTRACTS.
I WANNA THANK YOU FOR YOUR INPUT AND INSIGHT TODAY.
IT'S BEEN, UH, UH, YOU KNOW, THIS IS MY, MY JAM.
SO WHEN YOU'RE, YOU KNOW, UH, TALKING AND PROVIDING THE FEEDBACK THAT YOU'VE PROVIDED FOR SMALL BUSINESSES, I CAN'T SEE ANY, ANY WAY FOR THEM TO, UM, DO ANYTHING BUT THRIVE IN THE CONTRACTING AREA.
SMALL BUSINESSES ARE THE BACKBONE OF ANY ECONOMY, AND WITH THE SUPPORT OF INITIATIVES LIKE THE SMALL BUSINESS ADMINISTRATION, IT IS CERTAIN THAT SMALL BUSINESSES CAN GROW.
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