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BY MARISHA GRAY
Atlanta: Just days before their 55th anniversary, the United
States Small Business Administration (SBA) met with board
directors from the Asian-Indian Chamber of Commerce (AICC)
for a Strategic Alliance Memorandum signing at the AICC
building in Atlanta.
The meeting of about 30 members was held to develop and
advance mutual understanding and working relationships
between the SBA and AICC in order to strengthen and expand
small business development in the local area. The Alliance
Memorandum signed by both parties on July 24th 2008, began a
two-year partnership that will produce educating
presentations and business expos to achieve their common
mission to help start, maintain, and expand small
businesses. The groups’ first plan is to organize several
education presentations that help with obtaining minority
certification and financing options for small businesses.
Opportunities in Federal
Procurement Programs, Says SBA District Director
BY VEENA RAO
Terri Denison is the District Director of the
Georgia Office of the US Small Business
Administration (SBA). Talking to NRI Pulse after the
July 24th meet, she said she saw opportunities for
Indian-owned businesses to participate in Federal
procurement programs.
She spoke about the SBA 8(a) program. Under this
program, SBA acts as a prime contractor and enters
into contracts with other Federal Government
departments and agencies. In its role as a prime
contractor, SBA awards subcontracts for their
performance by certified companies.
“Many participants of the 8(a) program are minority
owned businesses,” said Denison. “The SBA works with
the small business for a period of nine years. We
first help them learn the Federal procurement
system. By the end of the nine years, they are able
to compete in the Federal market place.”
“A lot of times people don’t know what’s available
to them,” said Denison. “We will work with the Asian
Indian Chamber of Commerce at educating members on
the government resources and programs available to
small businesses. Then, as we get a feel of the
particular needs of the members, we can pursue them
with tailored programs, initiatives and workshops.
We can ensure that the members make contact with
those parts of our agency that handles whatever it
is that they need particularly.”
Denison said the SBA has been around since 1953. “We
are a Federal Government agency with a mission to
help grow the economy of the US by helping small
businesses start and expand. We are most well-known
for providing financial assistance. We help small
businesses get access to capital through loan
guarantees. A commercial lender will come to us when
they feel like they need additional security, and
ask for the loan to be guaranteed by us.”
“We also fund some organizations that help people
who are looking to start a small business or expand
an existing one through counseling and training,”
she said. |
The Asian-Indian
Chamber of Commerce provides a platform for Asian-Indian
businessmen to meet and network in the United States and
globally facilitate and promote trade and business. Brenda
Morant is the Executive Director and ICC serves as an
advocate for the interest and rights of Asian-Indians on
issues that affect businessmen globally and in the United
States.
“The Small Business Administration and Asian-Indian Chamber
of Commerce are seeking to help small business maintain a
permanent place in the world of business”, Chandler Sharma,
President of the Asian Indian Chamber of Commerce said.
Terri Denison, the District Director of the Georgia Office
of the US SBA spoke at the July 24th meeting. The SBA
protects the interests of small businesses through providing
financial, contractual and business development assistance.
The SBA has delivered over 20 million loans, loan
guarantees, contracts, counseling sessions, and promotes
international trade and now these services would be
available to Indian community with the assistance of AICC.
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