5:51 PM, May 31, 2013 | 0 comments
WCSH 6 News
WLBZ 2 News
BRUNSWICK, Maine (NEWS CENTER) — Over the next five years, increased loans to veteran-owned businesses should account for half a billion dollars in new financing, according to the SBA.
Acting SBA New England Regional Administration Jeanne Hulit said the SBA is committed to increasing its loans to veteran-owned businesses by five percent over the next five years.
Hulit said proportionately, veterans are more likely than civilians to become entrepreneurs.
“They have the skills, the drive, the discipline to be very successful,” said Hulit.
She said a success story can be found in the heart of Brunswick, at the veteran-owned business, Gallery Framing.
Jerry Meinhardt was in the Navy for 20 years. When he was retiring, he learned about the SBA’s Patriot Express Loan program.
He saw it as the opportunity to own his own framing business, something he wanted to do for about a quarter of a century.
“I’m really blessed with this business,” said Meinhardt. He said working with Bangor Savings Bank and the SBA made all the difference.
He employs his wife, and one other employee.
“[The business] takes care of our family, it takes care of the people that work for me, and I think it’s a great asset to this town,” he said.