Avionics News May 2013 - 29

expanded facilities, equipment or products, if the investment goes unused because the demand they promised
the lender doesn’t show up.
Don’t count on politicians for help or waste any time
blaming one political party or the other for the prolonged
and unequal recovery. The Times made it clear that
while they all tout the important contributions of small
businesses, their actions – gridlock and sequestration –
clearly identify who and what is important to them.
The Times did offer some hope for the future. “The
key precondition for a real small-business recovery – the
normalization of bank lending to commercial and industrial companies – is within reach,” said Ian Shepherdson,
chief economist at Pantheon Macroeconomics Advisors.
And Federal Reserve data suggest that the small-business
credit market is getting better, and increasing home
prices are good for those who opt to finance their small
business with a personal loan.
Searching for small-business loans, Google returned 146
million links in 0.38 seconds. Scrolling through 50 pages of
them, the majority led to cash-advance companies.
The Times reporter talked to a
small-business owner who
took this route and borrowed $50,000. He had
six months to come up
with the loan’s $75,000
repayment.

Business owners can find better terms with local lenders through the U.S. Small Business Administration at
www.SBA.gov. It doesn’t make loans directly, but through
its various programs it mitigates the risks local lenders
must consider by guaranteeing that, one way or another,
the loan will be repaid.
Getting a loan, especially in these economic times,
is neither quick nor easy. But several shop owners who
have been through the process say it was much easier
than getting their Federal Aviation Administration repair
station certificates. It should go without saying that no
owner should pursue capital to sustain, expand or start
a business without professional financial assistance and
guidance. As it does with lenders, the SBA website can
connect shop owners with local resources from an SBA
District Office, SCORE Chapter, small-business development organization or a woman’s business center.
Karen Friedle McKinnon, president of CE Avionics in
Sanford, Fla., reinforced the importance of professional
guidance. Like aviation and avionics, finance has its own
lexicon. Professionals not only translate and explain its
nuances and prepare necessary documents and records
in the format financial institutions expect, they can help a
business balance capital needs and wants.
Chris Friedle reinforced this by explaining why his sister is CE’s president. Mike Hughes, Chris’ Embry-Riddle
Continued on following page

With record corporate profits and a robust stock
market, some might think that lenders are capital rich
and looking for new customers eager to borrow it.
While the former observation is true, the latter is not.

Photo courtesy
PhotoXpress.com

avionics news

•

may

2013

http://www.SBA.gov

Avionics News May 2013

Table of Contents for the Digital Edition of Avionics News May 2013