Worcester Business Journal

14 Worcester Business Journal • May 25, 2015 www.wbjournal.com ENTREPRENEURSHIP/INNOVATION/SMALL BUSINESS << At Clinton Savings Bank our Commercial Relationship Managers help local businesses achieve greatness and provide solutions for personal banking needs. Mary Dean, CSB SVP/Commercial Lending Dale DiMeco DiMeco's Nursery and Landscape "Mary and the team at CSB have the experience & knowledge to provide the best solutions for my business" - Dale DiMeco Health New England has earned the trust of more than 5,000 employers throughout our region by providing outstanding, personal service and quality health insurance options. We offer plans without tiered networks and no referral is needed for members to see an in-plan specialist. At HNE, we're committed to being a better choice in health insurance for everyone in Worcester County. Maura McCaffrey President & CEO, Health New England " " Ask your insurance broker or call us at 508.453.9170 · hne.com/worcester A better choice in health insurance. Winchester went when Ready 2 Run needed cash for some equipment. Winchester said he brought a detailed business plan to commercial lending officers at other banks, but it "didn't seem like they were willing to take any risk whatsoever." At UniBank, he said, things were different, and the company received the money it needed through the SBA Patriot Express Loan program. Christopher J. Watson, senior vice president of commercial lending at UniBank, said it launched its veteran- focused lending program last June. Watson said the idea came from the SBA, but he also had a personal connection in the form of his future son-in-law, who left the military after five years and five separate tours as an Army Ranger. Watson said UniBank's fast-track lend- ing program for veterans provides up to $250,000 and cuts the regular 1.99-per- cent annual interest rate to 1.776 percent. The loans are backed by an SBA guaran- tee. He said veterans have sought loans for a variety of businesses. "We've seen landscapers, printing companies, small cafes and restaurants," he said. "These are often very smart indi- viduals." Not all veteran entrepreneurs go straight from the military to a startup. Nigel Belgrave of Auburn served in the Air Force from 1990 to 1994, then spent 18 years in banking, most recent- ly with Marlborough-based St. Mary's Credit Union. Still, when he began to look at starting a business, he drew on his military training — particularly the focus on discipline and calm in the face of adversity. "They try to hone that in you right from day one at basic training," he said. "What they try to teach you is a mindset." To find a way into entrepreneurship, Belgrave worked with Ken Picard, a busi- ness coach with The Entrepreneur's Source in Hudson who helps connect would-be business owners with franchise opportunities. Picard said he's worked with colleagues on a program, Veterans2Entrpreneurs, focused specifi- cally on ex-military personnel. He said vets tend to do well in franchising. "Veterans get a lot of training and they work within a system, and that's basically what a franchise is: a proven system or process to do whatever the service is," he said. "So many things they're good at are transferable to a system like a franchise." With Picard's help, Belgrave investi- gated a number of franchise companies and ended up signing on with PuroClean, which offers cleaning and restoration for properties damaged by water or fire. He said the company fit his needs in a few ways, with a startup cost he could man- age and a reasonable timeline for becom- ing profitable. It also helped that Puroclean knocked $5,000 off the $45,000 franchise fee because of his vet- eran status. "It was important to me that they val- ued and appreciated veterans," he said. Belgrave officially started his PuroClean franchise in January. So far, he's done the work himself with tempo- rary help from friends, but he said he's already gotten to the point where he's considering hiring his first real employ- ee. He said the success he's had so far is directly related to the discipline instilled in him in the military. "There are going to be no such thing as regular hours," he said. "You've got to have the discipline." n Veterans find host of resources to help them succeed in business >> Continued from Page 13 0 10 20 30 40 50 60 0 $2 $4 $6 $8 $10 51 47 $5.9M $9.7M 2014 2015 Number of loans Amount loaned Source: U.S. Small Business Administration SBA lending to Mass. veterans Through mid-May, the federal agency had awarded nearly $10 million in loans to veterans since Oct. 1, 2014, up 64 percent over the same span in the last federal fiscal year (Oct.-Sept.). Ken Picard of The Entrepreneur 's Source in Hudson: "Veterans get a lot of training and they work within a system," making them suitable as franchisees.

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