Salem State University president Patricia Maguire Meservey announces $100 million raised by SBDC for small firms

  

At the Small Business Week event hosted by Salem State University's Small Business Development Center for Northeast Massachusetts (SBDC), university president Patricia Maguire Meservey noted its accomplishments. The SBDC is funded by the U.S. Small Business Administration (SBA) and the Commonwealth of Massachusetts, and is one of almost 1,000 SBDCs nationwide and six in Massachusetts.

"Since 1992", noted Meservey, "our SBDC has provided services to over 15,000 small business clients, and run over 800 business seminars attracting 21,000 entrepreneurs. Most exciting, however, is that as of 2014, the SBDC surpassed the $100 million dollar mark, having attained total financings of $103 million for northeastern Massachusetts companies—mainly through banks in the region. Congratulations to the SBDC team—regional director Margaret Somer, business advisors Walter Manninen and Awilda Irizarry and training coordinator Laurel Costello—for all of your hard work!"

The event was held at the Enterprise Center at Salem State University. Meservey also congratulated outgoing director Somer on her 10 years of service to the small business community through the Small Business Development Center at Salem State University.

Special guest, Congressman Seth Moulton (D-MA), spoke about his own experiences as an entrepreneur and his recent committee appointments, including the House Small Business Committee. He noted his focus on economic development and his interest in hearing about obstacles to growing businesses as he answered questions ranging from the controversial Trans Pacific Partnership export/import issues to financing.

The SBA's New England regional administrator, Seth Goodall, spoke about the SBA's vision of working with companies at all stages and in all industries. SBA Massachusetts district director Robert Nelson, a frequent visitor to North Shore businesses and business groups, reviewed how the SBA backs bank loans and spoke about its wide array of financial products. He particularly noted the role of disaster loans and the SBA's support for veterans.  

Meservey, who chairs the North Shore Alliance for Economic Development, was pleased with the outcome. "Having Congressman Moulton, the Small Business Development Center and the SBA leaders here today, making connections with the business and banking communities, was another great milestone in expanding the northeast Massachusetts economy."

 

Photo (left to right): SBA New England Regional Administrator Seth Goodall, Salem State University President Patricia Maguire Meservey, Congressman Seth Moulton (D-MA), MA Small Business Development Center for Northeast MA Regional Director Margaret Somer, and SBA MA District Director Robert Nelson