Military personnel transitioning to civilian entrepreneurial efforts will hear a credit union's take on financing their businesses during an upcoming SBA session.
Kevin Dion, vice president of lending at the $1.9 billion Citadel Federal Credit Union in Exton, Pa., will serve as a panelist on the SBA's "Boots to Business: From Service" training session June 17-18 at the U.S. Army War College in Carlisle, Pa.
Dion, who is the only credit union panelist, will address the services and loan programs offered by credit unions, including eligibility requirements, criteria for those loans, and answering questions of the aspiring entrepreneurs, the Pennsylvania Credit Union Association said.
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The financing panel will also include lenders from economic development and community development organizations to give attendees a better understanding of what's available in the marketplace.
Boots to Business is a two-day entrepreneurial class, taught by SBA representatives and resource partners at military installations. The class will educate participants who are active duty military members and their partners and spouses separating from service on business fundamentals and guide them through an initial feasibility analysis of their business concept.
Nine percent of all U.S. firms are owned by veterans and more than 2.4 million veteran-owned businesses employ more than 5.75 million people, according to SBA Philadelphia District Director David Dickson.
"At SBA, we know that providing greater access and opportunity to veteran-owned small businesses strengthens the economy and helps create jobs," Dickson said. "I'm glad to see that our lending partners, including those in the Pennsylvania Credit Union Association, also recognize this and are willing to help serve our nation's veteran entrepreneurs."
There are nearly 100 credit unions in Pennsylvania that offer small business loans and 21 are SBA-approved lenders, according to Patrick Conway, PCUA president/CEO.
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