Greenville entrepreneurs get strong advice at business forum

By Mike Lange

Staff Writer

  GREENVILLE – Some had been in business for a while and were looking for opportunities to expand.

  Others were thinking about starting one for the first time.

  A few seemed to attend just out of curiosity.

  But the presenters at the Moosehead Lake Region Small Business Assistance Forum in Greenville last week had one common message: Before you venture out on your own or attempt to branch out, have a solid business plan.

  Presenters were Jim Pineau, the senior area manager for the Small Business Administration; Ann McAlhany, a certified business counselor with the Maine Small Business Development Center; and Christopher Winstead, executive director of the Piscataquis County Economic Development Council.

  Greenville Town Manager John Simko organized the forum, noting the success that some businesses have already had with loans and grants backed by state and federal agencies.

  Pineau explained that the SBA used to loan money directly to new businesses during its early years, but now guarantees loans negotiated through private lenders. SBA also provides counseling and technical advice for those starting a new business, he added.

  “Whenever someone comes to my office and tells me they want a small business loan, the first thing I ask is: Do you have a business plan? Do you have cash flow projections? Do you have everything you need to get started?” Pineau said.

  SCORE (Service Corps of Retired Executives) is an SBA partner that offers free mentoring and assistance for new entrepreneurs, Pineau said. “At one time, the organization was made up of strictly retirees, but that’s no longer the case,” he said. “Now many of them are still active business owners.”

  Pineau also said that a new program called Link allows prospective business owners to go online “fill in the information about your business and the type of loan you’re looking for. Participating lenders who are involved with Link can reach out to you.”

  McAlhany said that MSBDC services “are free and confidential. If there’s something about financing you don’t understand, it’s my job to help you figure it out.”

  McAlhany said that the organization is a “safe place for you to talk about business issues that you may not be comfortable discussing with your family and friends.”

  She added that her intention is “not to rain on anyone’s parade. But once in a while, I do become your reality check.”

  Winstead described PCEDC as the “conduit” where funds flow from state and federal sources into communities, which then become the sponsor for the business loans. Most recently, CDBG applications from Katahdin Cookie Works and Leisure Life Resort in Greenville and Dove Tail Bat Company in nearby Shirley were approved allowing the companies to purchase new equipment and make facility upgrades.

  Winstead echoed Pineau and McAlhany’s emphasis on business plans. “They want to see that you’ve put the time and effort into truly understanding your business,” he said.

  PCEDC can also do grant searches for applicants that may not be readily visible. “We’ll find the part and the tool to make it fit,” he said.

  Stanley Friedman of Beaver Cove, who wants to start a taxi service in Greenville, said he found the forum helpful. “We’ve done a feasibility study and there’s nothing in town right now,” he said. “People need to go to the doctor’s, the grocery store and other places in and out of town.”

  Friedman said that as a disabled veteran, he also may be eligible to transport clients to VA clinics. But he conceded that it’s not the type of business for everyone. “You’re on call seven days a week, 24 hours a day. You never know when people need you,” he said.

  Nicole Saddler would like to expand her one-woman jewelry firm, Saddler’s Maine Made LLC, and said that she was glad to learn about the free business counseling. “I’ve been making jewelry for 16 years and the shop has been open for three,” she said.

  “Just being able to have someone look over my business plan, proofread it and give me advice is really great,” she said.