| Small business organizations form partnership
Two nonprofits aimed at helping small and minority-owned businesses succeed have formed an alliance to share services. The Cincinnati Business Incubator and the Greater Cincinnati Microenterprise Initiative said they have formalized their relationship with a memorandum of understanding. Under the agreement, CBI will offer GCMI clients a complimentary six-month affiliate client contract, and GCMI will provide CBI clients with customized business coaching and assistance in obtaining business loans. "When organizations like ours work together there is less duplication and we have more opportunity to market our services to a wider audience," said Wayne Hicks, president of CBI, in a news release. CBI, in Over-the-Rhine, is an incubator offering startup companies affordable office space, business services and other resources.
Local lender receives small business award
The U.S. Small Business Administration Thursday recognized the top lenders in the state for providing SBA-backed start-up and expansion loans to small businesses, as well as the government agencies that signed the most contracts with minority firms."These lenders help provide economic opportunities for those looking to go into business," said Michelle Johnston, the state SBA director.Glacier Bancorp, headquartered in Kalispell and the holding company for Valley Bank of Helena among other community banks around the state, was the top SBA lender in the year ended Sept. 30, making 76 loans totaling nearly $6.6 million. Vice President Don Chery said the company's practice of leaving the banks it acquires as stand-alone institutions helps generate SBA activity."When you own small community banks and leave them as small community banks, they have a tendency to be more community oriented," he said.
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Best Email Advertising of 2008 to Be Named by Web Marketing Association
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One-year-old local bank caters to small-business owners
If you had an idea for a new business going into 2007, probably one of the last you would have picked -- in hindsight -- is banking. The banking industry has been rocked this year by mortgage messes, credit and liquidity woes and a lousy yield curve that has crushed profit margins. The brewing storm really wasn't evident a year ago when a handful of Beachwood businessmen launched Ohio Commerce Bank -- a monumental feat considering there hadn't been a new bank in Northeast Ohio since 1999 or in Cuyahoga County since 1992. As it was, it took two years of paperwork and bureaucracy to push Ohio Commerce through. Adding to the challenge: This region is already satu rated with banks compared with other parts of the country, including locally based powerhouses National City and KeyBank.
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