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SubscribeLocal Company Offers Auto Repair In Exchange For New Winter Coats Through December
Councilman Tom Owen (D-8) is praising the effort of one local business to help keep children in need warm through the coming winter. AcuDENT’s “Dents for Kids” program is underway to assist young people at Boys & Girls Haven by trading automotive dent repairs for winter coats.
Every Friday in December, AcuDENT Paintless Dent Repair will offer up to one, 3-inch dent repair, normally a $159 value, for free. In return, the customer must provide an M-XL adult sized winter coat that equals $50 or greater that will be donated to Boys & Girls Haven.
“I believe this is an innovative way to help Boys & Girls Haven and at the same time shows community involvement by a local business during the holiday season,” says Owen. “Anytime we can help those in need, it helps all of us enjoy the spirit of this time of year.”
The company has worked with Boys and Girls Haven in the past, and realized the specific need for coats for the boys and girls in this organization.
“AcuDENT is always looking for ways to give back to the community,” says owner Gavin Reherman. “This seemed liked the opportunity with the largest impact. Many of these children go through the winter without any type of protection from the cold.”
Since 2004, AcuDENT has served clients from its retail shop, newly located at 1647 Norris Place, and from several reputable car dealerships and body shops in the area. To participate in the program, please call AcuDENT-Paintless Dent Repair to make an appointment at (502) 648-2693.
Boys & Girls Haven began in 1950 and currently serves over 800 children each year from across the state of Kentucky through a variety of programs. The kids they serve have come to Boys & Girls Haven to heal from abuse and neglect. Boys & Girls Haven gives these kids a sense of belonging and a home. They receive the therapy they need to recover in a warm and caring environment.
Banks, credit institutions encouraged to apply for ‘gap’ funding for business loans
Governor Steve Beshear announced today Kentucky received nearly $5.3 million from the U.S. Treasury Department to help small businesses receive private-sector loans from banks and other credit institutions.
“This loan funding gives Kentucky small businesses the extra backing they need to expand and create jobs. We designed a streamlined and easy-to-access program for banks and credit institutions to apply for these funds on behalf of businesses seeking loans,” Gov. Beshear said. “Through our program, we are helping more than 100 small businesses access almost $87 million in loans, $77 million of which are private-sector. That success led directly to this latest round of funding.”
The funding marks the third disbursement from the U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI) since 2011 to the Kentucky Small Business Credit Initiative (KSBCI).
Banks and qualified lenders apply to KSBCI when a business of fewer than 500 employees applies for a loan and falls just short of the institution’s requirements. To fill that gap, eligible companies can receive loans of up to $20 million from lenders with 20 percent provided by the state. Loans exceeding $250,000 are subject to Kentucky Economic Development Finance Authority (KEDFA) approval. Kentucky’s program targets underserved regions to encourage business growth and hiring.
The SSBCI’s disbursement brings the Commonwealth’s total allocation to nearly $15.5 million since July 2011. Kentucky unlocked its third disbursement after expending 100 percent of its first disbursement and 80 percent of the second round. To date, KSBCI helped Kentucky companies receive $86.8 million in loans.
Maynard Studios, a professional blacksmith enterprise in Lawrenceburg, specializing in architectural ironwork railings and furniture, received approval for a $165,750 loan from Community Trust Bank in Versailles in 2012.
“When we initially sat down to run the numbers, we could not get a loan to build a new studio. Without the new studio, we couldn’t have grown at all,” said Karine Maynard, who founded the business with her husband, Matthew.
The loan included nearly $25,000 from KSBCI. It helped grow the couple’s newly incorporated business to its current five employees. Maynard’s new studio opened in January 2013 and since expanded to include an office, breakroom and additional production area. The space allows for more equipment, employees and physically larger projects, which doubled the company’s revenue in both 2013 and 2014.
“Without the program’s assistance, we’d still be doing what we do, but we couldn’t take on the kinds of commissions we do,” she said. “Since expanding, we’ve received international recognition and are working on commissions for installation in buildings from San Francisco to New York City.”
Eastern Telephone & Technologies, in Pikeville, used its $275,000 loan – which included $9,500 in KSBCI backing – to retrain employees and modernize its sales-and-installation business. The 20-employee company shifted from primarily landline and electrical systems to cutting-edge, networked Internet-of-Things systems.
Customers for its building-access, HVAC control, security and landline-to-mobile telephone systems include retail and commercial businesses throughout eastern and central Kentucky.
“The loan allowed us to stay current and relevant in the new technology world,” said company founder Darrell Maynard, no relation to Matthew and Karine Maynard. The company paid off its loan in January 2014, allowing KSBCI to recycle the funds for future loans.
The Small Business Jobs Act, signed into law by President Barack Obama in 2010, established the SSBCI program. The Treasury Department has disbursed more than $1.2 billion in SSBCI funds to participating states, municipalities and territories since the program began. Nationally, from 2011 to 2014, SSBCI funds spurred more than $6.4 billion in private sector lending and investments to small businesses. States have generated $7.36 in private sector lending and investments for every $1 of federal support. Business owners reported these funds will help them retain or create more than 140,000 jobs.
Kentucky’s SSBCI funding is administered by the Cabinet for Economic Development’s Office of Entrepreneurship. The innovative financing option works in partnership with participating lenders. Lenders can use three Kentucky-specific credit enhancement options to strengthen loan requests that are credit-worthy in nature but fall just outside acceptable underwriting standards. The credit initiative bridges the gap, making it possible for lenders to finance more small businesses.
“The first two disbursements of SSBCI funds allowed us to support more than 115 loans to over 100 small businesses throughout the state,” said Cabinet for Economic Development Secretary Larry Hayes. “We will continue that momentum by engaging financial services partners to put this funding to work in Kentucky.”
Kentucky businesses and lenders may obtain more information about the KSBCI at www.thinkkentucky.com/smallbizlending
For more information on SSBCI and Treasury’s other small business programs, please visit www.treasury.gov/smallbusiness.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter.
Local business leaders to discuss success and strategies at 4th Annual Gear-Up event
The 4th Annual Gear-Up Louisville event will take place on Thursday, October 15 from 8:30AM to 3:30PM at The Sawyer Hayes Community Center at E.P Tom Sawyer State Park, 2201 Lakeland Road. The event will feature presentations by ten dynamic speakers who will share best practices, strategies and success stories to inspire local business owners and entrepreneurs. Early bird tickets are $99 and available until September 30, regularly priced tickets are $149. The event includes breakfast and lunch, and tickets are available at www.GearUpLouisville.com. For more information, contact Christy Smallwood at (502) 595-7157 or christy@arkhamexec.com.
Gear-Up Louisville is designed for established business owners who want to re-tool their methods, strengthen business connections, and learn short cuts from fellow colleagues. The unique one-day event matches up speakers who can share a learning lesson with a local entrepreneur who has seen success from implementing the strategy. For example, Cara Silletto of Crescendo Strategies will talk about managing millennials, and then Master Distiller Marianne Barnes will discuss how she mastered working with millennials in the distillery industry. Another topic will include Gil Roberts of Phone Falcon who will discuss how established business owners can still grow their business using Lean Startup methodology, and then Ontra Caples of Down Home Tea, LLC will share how he achieved his dream. This year’s topics include “Working With Millennials,” “Succession Planning,” “Online Marketing,” “Being a Super Entrepreneur,” and “Using Lean Startup for Existing Business.” Comedian Mark Klein will emcee the event.
“Gear-Up was born out of a passion to develop business through showing examples of homegrown success,” says Christy Smallwood, founder of Arkham Executive and Executive Producer of the event. “Business owners and professionals in general are life-long learners, and this event presents an opportunity to learn from other successful businesses without a hefty price tag. Participants will walk away with new ideas that can be implemented right away in order to achieve their goals.”
For more information, visit www.GearUpLouisville.com.
About Gear-Up Louisville
Gear-Up Louisville is a one-day event hosted by Arkham Executive, founded by Christy Smallwood and John “Z” Zeydel. Arkham Executive provides training on sales, communication, marketing, networking, and other topics help that enhance the efforts of entrepreneurs around the region. For more information, visit www.arkhamexec.com.
STEP grant will assist businesses to expand markets
Kentucky businesses can expect more state assistance to help them market their products worldwide. The Small Business Administration has announced the Commonwealth will receive a $400,000 State Trade Export Promotion (STEP) grant, designed to encourage and boost international trade among the Commonwealth’s small businesses.
“Kentucky small businesses and exports are vital to Kentucky’s continued growth, and the STEP program provides an opportunity to provide assistance in both areas,” said Mandy Lambert, commissioner of business development in the Kentucky Cabinet for Economic Development. “This funding will allow us to offer assistance where those businesses need it most, and it will help those companies reach their full potential.”
The objectives of the STEP program are to increase the number of small businesses that begin to export, as well as increase the value of exports for small businesses that currently conduct international business. As demand for Kentucky products increases worldwide, those businesses, in turn, are able to expand and create more jobs for Kentuckians.
The latest grant is the fourth round of funding offered through the program. Kentucky previously received a $300,000 grant in 2014; a $276,000 grant in 2012; and $427,000 in 2011.
Kentucky uses these funds to lower the cost for small businesses wanting to participate in international trade missions, sales trips and subscription services provided by the U.S. Department of Commerce. Additionally, the funds assist companies with international marketing campaigns, export trade show exhibits, training workshops or other export initiatives that are in line with the objectives of the program.
The STEP grant is directly aligned with the goals of the Kentucky Export Initiative (KEI), launched in 2010 by Governor Steve Beshear. KEI was formed to streamline and elevate the state’s efforts to help Kentucky businesses reach global markets. Last year, the Commonwealth exported $27.5 billion in products to nearly 200 countries, the fourth consecutive year of record growth. Gov. Beshear also has led economic development trade missions to the United Kingdom and Canada in recent years, and those missions have led to increased export opportunities for the participating companies.
To learn more about the STEP program, click here. Find out more about Kentucky’s exporting efforts at www.kyexports.com.
Councilman Steve Magre (D-10) has released the following statement after the Louisville Metro Council gave its approval to a zoning request for Costco to build a new store on Bardstown Road on the site of the old Showcase Cinemas:
“I want to thank everyone on the Metro Council for their vote and support of this project. Costco will be a wonderful addition to this area of Bardstown Road. The Company not only offers quality products to consumers but is also a great employer, especially in its treatment of its employees.
While I know everyone has fond memories of the Showcase Cinemas, for too long this vacant piece of property has been a concern of those who have hoped for a revitalization of the area. I have said many times, Costco will be a game changer and will show renewed interest in retail for this very well established area. To think until now, there has not been any retail opportunities provided for this 19 acre parcel over many years that we will now see changes to allow residents of my district and a major part of the city to access a new 153,000 square foot retail center is great news.
I want to thank everyone who has helped bring this to a reality, I want to thank the members of the Planning Commission, the Council’s Planning and Zoning Committee, the leadership of Committee Chair Madonna Flood (D-24), the economic development people in the Mayor’s office and of course Costco. Their willingness to be part of District 10 and their commitment to grow in Metro Louisville is exemplar: a true model.”
Each Winner Receives $20,000 Development Grant, Lean Start-Up Training and Mentoring
The Community Foundation of Louisville (CFL) and Greater Louisville Inc’s (GLI) EnterpriseCorp announced the winners of the 2015 Vogt Invention & Innovation Awards at a news conference Thursday. The awards target the manufacturing and hardware sector to help startup ideas and products develop into a viable and successful businesses in our region. The Vogt Awards reward entrepreneurs by investing in companies committed to economic growth and job creation.
The Community Foundation’s Vogt Invention and Innovation Fund has supported the Vogt Awards for more than 15 years. In that time nearly $2.5 million has been awarded to 50 companies. The program is administered by Greater Louisville Inc’s EnterpriseCorp, an economic development agency focused on entrepreneurial assistance.
“For the past fifteen years, we have had an impressive group of applicants and winners. This year is no different,” says Susan Barry, President and CEO of CFL. “This Vogt Awards encourages and rewards exciting and innovative ideas that will make a difference for years to come.”
The 2015 winners are:
- Hue Innovations LLC – developed MiColor that creates all colors of nail and gel polishes, with various finishes on demand, for nail salons reducing wasted polish and enhancing customer satisfaction, www.hueinnovations.com, Mimi Pham and Balaji Venkatesh.
- Inscope Medical Solutions LLC – developed an innovative technology that optimizes intubation, improving the high-risk procedure’s efficiency, speed and safety – saving lives and lowering costs to healthcare providers, www.inscopemedical.com, Maggie Galloway, Dr. Mary Nan Mallory and Adam Casson.
- Stinger Equipment – created the DL-22 dustless 22-inch saw that safely cuts large blocks in a single pass eliminating fatigue, dangerous cuts and exposure to lung cancer caused from silica dust, www.stingerequipment.com, Dustin McGehee.
- Sunstrand – supplier and processor of value-added bio-material for domestic polymer composites using a proprietary line of bamboo and applied to hemp, kenaf, flax and jute offering increased potential to decrease weight and green-up plastics, www.sunstrands.com, Trey Riddle.
- TriBlue Engineering Corporation – created a sour gas processing unit which allows natural gas processing plants to remove unwanted CO2 and H2S from their lines,www.triblueengineering.com, Hunter Gerlach and Joseph Alexander.
The 2015 Vogt Invention & Innovation Award recipients each receive a $20,000 development grant that provides participation in a 10-week Lean Start-Up course by Nucleus: Kentucky’s Life Sciences and Innovation Center, appointment of professional mentors selected for compatibility to the project, and prototype development through the University of Louisville’s J.B. Speed School of Engineering. This includes advanced software, additive manufacture & 3D rapid prototyping, micro/nano technology and more. Winners also have access to GE Appliance industrial design and FirstBuild Microfactory, University of Louisville’s Rapid Prototyping Center and Micro/Nano Tech Center, LVL1 Hackerspace, and the Louisville Mini Maker Faire.
In addition, each recipient receives the opportunity to participate in Vogt Demo Day on November 17, 2015, where they will make presentations to regional investors and compete for a $100,000 award toward the further development of their project.
The late Henry V. Heuser Sr., a native Louisvillian and founder of the Henry Vogt Machine Company, created a $5 million endowment at CFL to support local entrepreneurship shortly before his death in 1999. Whenever Henry had an idea about how to make something better, quicker, or easier, all he had to do was walk out to the shop floor to assess its viability and commercial potential. His legacy is the establishment of an award that allows engineers and entrepreneurs access the same kinds of resources.
“ The Greater Louisville region continues to advance its manufacturing and hardware sector,” said EnterpriseCorp’s Director Lisa Bajorinas. “The Vogt awards spotlight our startups and fast growth companies through Henry Heuser Sr.’s vision.”
For more information about the Vogt Invention & Innovation Awards, go to www.vogtawards.com.
The Dixie Area Business Association’s (DABA) Discover Dixie Expo will be held Tuesday, September 15.
The annual B2B event, held in the gymnasium of the Ormsby Heights Baptist Church at 2120 Lower Hunters Trace, will showcase area businesses and allow other business owners, employees, entrepreneurs to see what the Dixie Highway corridor has to offer.
Over 60 exhibitors are expected from various fields including education, financial services, healthcare and fitness, home improvement, computers and technology, advertising & marketing, and others. The event also features business seminars, a silent auction, prizes, networking and more.
Admission is free with a business card. For the full schedule and more information, visit the Discover Dixie Expo Facebook page or official website.
